How to Gamble: Sports Betting Guide
Thu, Jul 3, 2014
by
CapperTek
Sports Betting Guide
To bet on baseball, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager.
If your team wins the game, you win. The payout varies according to the odds posted. Baseball odds are shown using a "Money Line."
The Money Line: Odds for a game based on $1. A "minus" (-) preceding the number indicates the team is a favorite. A "plus" (+) preceding the number indicates the team is an underdog.
Example:
- Pitcher listed is starting pitcher
| Bet Num. | Team | Pitcher | Odds | Total | Money line for total |
| 301 | Dodgers | Brown | +110 | 7.5 | Over -110 |
| 302 | Braves | Maddux | -120 | Under -110 |
Note: The bottom team is always listed as the home team unless otherwise noted.
The Braves' odds are -120, meaning a $12 bet would win $10, for a return of $22. The Dodgers' odds are +110, meaning a $10 bet would win $11, for a return of $21.
On Today's Line we use a different format, the idea is the same. You will not find the odds for the Underdog. The Underdog's odds are based on what the casino has for its line. Most use a "Dime Line" or something close to that.
You have just seen an example of a dime line.
Braves -120
Dodgers +110
A 20-cent line would be this.
Braves -130
Dodgers +110
Here are two more examples of a dime line and a 20-cent line. See whether you can tell them apart.
Braves -105
Dodgers -105
Braves -120
Dodgers Even
You can arrive at the underdog's price by looking at the favorite's line. Dime lines are slowly disappearing as sports books look to make a larger profit during what is traditionally the slowest betting season. Several books still offer dime lines.
Money lines change constantly. The listed money line the time you make your bet may be different from the money line when the game starts. The listed line on your ticket is your official odds, unless starting pitcher is changed. This is explained later.
Total: Total runs scored in a game. Also called the over/under.
You may wager that the total score of the game will be more or less than the number listed. It makes no difference which team wins. Simply add the final scores of each team. The payout, unless stated otherwise, is figured at odds of 10/11. (-110)
Note: When betting a total, these rules apply:
(a) The game must go nine innings, or 8 1/2 innings if the home team wins.
(b) Both listed pitchers must start the game.
If either doesn't happen, the bet is refunded.
All runs scored in extra innings count in over/under bets.
Baseball Run Lines
The run line: a point spread of 1 1/2 given to a baseball game.
A favorite must win by 2 runs or more, or the underdog must either:
(a) Win the game.
(b) Must lose by only one run.
The payout varies according to the money line odds assigned to each outcome.
Example:
| Bet Num. | Team | Pitcher | Money Line | Total | Money Line for totals |
Run Line | Money Line for run line |
| 301 | Dodgers | Brown | +110 | 7.5 | Ov -110 | +1.5 | -180 |
| 302 | Braves | Maddux | -120 | Un -110 | -1.5 | +160 |
The Braves must win by 2 runs; a $10 bet would win $16, and return $26. The Dodgers must not lose by 2 runs; an $18 bet would win $10, and return $28.
Note: Same rules apply to run line bets as totals.
(a) The game must go nine innings, or 8 1/2 innings if the home team wins.
(b) Both listed pitchers must start the game.
If either doesn't happen, the bet is refunded.
Baseball Parlays
You may combine several teams into one wager. All teams must win to win the bet.
Baseball parlays are figured out by calculating the payout for the first game, based on the money line, then applying that amount to the next game, and so-forth.
If a game is postponed for any reason, the parlay reduces by one team. The bet is treated as if the postponed game were never included in the parlay.
Here's an example of how to figure out a baseball parlay:
| Amount wagered |
Odds for Team 1 |
Odds for Team 2 |
Odds for Team 3 |
|
| $10 | +120 | -130 | -150 | |
| $10 | x 2.20 | x 1.77 | x 1.67 | = $65.03 |
Now at VEGAS.com we don't pretend to be mathematicians and we don't have a breakdown of multipliers for every bet, but the good news is you don't have to be either. Simply ask the betting attendant at your favorite sports book what your payout would be before placing the bet.
Listed pitcher(s) option
When making a baseball bet, you are betting team vs. team. You have the option to specify that either or both listed pitchers must start the game.
Since baseball odds are determined on starting pitchers, any late pitching changes often force an adjustment in the odds. This will increase or decrease the payout on a winning ticket. However, if you list starting pitchers, and your pitcher doesn't start, then the bet is refunded.
To bet on basketball, tell the ticket writer the bet number of the team you wish to bet, with the point spread, and the amount you wish to wager. The payout, unless stated otherwise, is figured at odds of 10/11. This means that a wager of $11 would win $10 and return $21.
This is called a straight bet.
The Point Spread: When betting on basketball, the team you bet on must "cover the spread." This means the team must win or not lose by a predetermined margin of points.
Example:
| Bet No. | Team | Line | Total |
| 201 | Bulls | -3 | |
| 202 | Lakers | 198 |
Note: The bottom team is always listed as the home team unless otherwise noted.
The point spread is always placed to the immediate right of the team that is favored. In this example, if you bet the Bulls, the Bulls must win by 4 points for you to win your bet. If you bet the Lakers, any of the following will declare you a winner.
(a) The Lakers win the game.
(b) The Lakers lose the game by not more than 3 points.
If the Bulls win by exactly 3 points then the wager is declared a push and all money is refunded.
Point spreads change constantly. The listed point spread the time you make your bet may be different from the point spread when the game starts. The point spread that is listed on your ticket is your official spread.
Total: Total points scored in a game. Also called the over/under.
You may wager that the total score of the game will be more or less than the number listed. It makes no difference which team covers the spread. Simply add the final score of each team. The payout, unless stated otherwise, is figured at odds of 10/11. (-110)
Basketball Parlays: More than one team on the same bet.
You may combine several teams into one wager. All teams and/or totals must cover the point spread to win the bet. Odds and the number of teams vary from casino to casino. The following are approximate odds:
| 2 teams | 13-5 |
| 3 teams | 6-1 |
| 4 teams | 11-1 |
| 5 teams | 22-1 |
| 6 teams | 44-1 |
| 7 teams | 90-1 |
Any game that results in a push reduces the parlay one team. A two-team parlay would become a straight bet.
Basketball Teasers: A wager that improves the point spread, but at reduced odds.
"Teasing" the point spread is done by adding points to a underdog or by subtracting points from a favorite. This increases the probability of winning your bet but decreases the odds of the parlay. Odds and the number of points available to "tease" vary from casino to casino. The following are approximate odds:
| Number of teams | 4 points | 4.5 points | 5 points |
| 2 teams | 10-12 | 10-13 | 10-14 |
| 3 teams | 8.5-5 | 7.5-5 | 7-5 |
| 4 teams | 3-1 | 5-2 | 2-1 |
| 5 teams | 9-2 | 4-1 | 7-2 |
| 6 teams | 7-1 | 6-1 | 5-1 |
| 7 teams | 10-1 | 9-1 | 8-1 |
To bet on boxing, tell the ticket writer the bet number of the boxer you wish to bet and the amount you wish to wager. Boxing odds are shown using a "Money Line."
The Money Line: Odds for a game based on $1.00. A "minus" (-) preceding the number indicates a favorite. A "plus" (+) preceding the number indicates an underdog.
Example:
| Bet No. | Boxer | Odds |
| 2001 | Mike Tyson | -260 |
| 2002 | Evander Holyfield | +220 |
Tyson is favored to win the bout. If Tyson wins, a $26 bet would win $10 and return $36. If Holyfield wins, a $10 bet would win $22 and return $32.
A draw on a straight bet will refund your bet.
Boxing matches often feature money line proposition wagers on knockouts, draws, rounds and the duration of the fight. Odds vary on each fight
To bet on football, tell the ticket writer the bet number of the team you wish to bet, with the point spread and the amount you wish to wager. The payout, unless stated otherwise, is figured at odds of 10/11. This means that a wager of $11 would win $10 and return $21.
This is called a straight bet. A straight bet is the most common type of football bet.
The point spread: When betting on football, the team you bet on must "cover the spread." This means the team must win or not lose by a predetermined margin of points.
Example:
| Bet No. | Team | Line |
| 101 | Jets | |
| 102 | Dolphins | -6 |
Note: The bottom team is always listed as the home team unless otherwise noted.
The point spread is always placed to the immediate right of the team that is favored. If you bet the Dolphins, the Dolphins must win by 7 points for you to win your bet. If you bet the Jets, any of the following will declare you a winner.
(a) The Jets win the game.
(b) The game ends in a tie.
(c) The Jets lose the game by not more than 6 points.
If the Dolphins win by exactly 6 points, the wager is declared a push and all money is refunded.
Point spreads change constantly. The listed point spread at the time you make your bet may be different from the point spread when the game starts. The point spread that is listed on your ticket is your official spread.
| Bet No. | Team | Line | Total | Money Line |
| 101 | Jets | 40 | +160 | |
| 102 | Dolphins | -6 | -180 |
Total: Total points scored in a game. Also called the over/under.
You may wager that the total score of the game will be more or less than the number listed. It makes no difference which team covers the spread. Simply add the final score of each team. The payout, unless stated otherwise, is figured at odds of 10/11.
In some cases, bettors have the option to discard the point spread and bet on which team will win. This is called betting on the "Money Line"
The Money Line: Odds for a game based on $1.00. A "minus" (-) preceding the number indicates the team is a favorite. A "plus" (+) preceding the number indicates the team is an underdog.
| Bet No. | Team | Line | Total | Money Line |
| 101 | Jets | 40 | +160 | |
| 102 | Dolphins | -6 | -180 |
The Dolphins' odds are -180, meaning an $18 bet would win $10 for a return of $28. The Jets' odds are +160, meaning a $10 bet would win $16 for a return of $26.
Football Parlays: More than one team on the same bet.
You may combine several teams into one wager. All teams and/or totals must cover the point spread to win the bet. Odds and the number of teams vary from casino to casino. The following are approximate odds:
| 2 teams | 13-5 |
| 3 teams | 6-1 |
| 4 teams | 11-1 |
| 5 teams | 22-1 |
| 6 teams | 44-1 |
| 7 teams | 90-1 |
Any game that results in a push reduces the parlay one team. A two-team parlay would become a straight bet.
Parlay Cards: These offer the potential for huge return while betting as little as $2.
Sports books offer a number of different cards, each one having different rules. Rules for parlay cards are placed on the back of each card. Read them carefully before wagering. The cards are simple to fill out. Simply darken the boxes, or circles, that apply to the teams you wish to parlay. Then darken the amount you want to bet.
Football Teasers: A wager that improves the point spread, but at reduced odds.
Teasers can not be straight bets.
"Teasing" the point spread is done by adding points to a underdog or by subtracting points from a favorite. This increases the probability of winning your bet but decreases the odds of the parlay. Odds and the number of points available to "tease" vary from casino to casino. The following are approximate odds:
| Number of teams | 6 points | 6.5 points | 7 points |
| 2 teams | 10-12 | 10-13 | 10-14 |
| 3 teams | 8.5-5 | 7.5-5 | 7-5 |
| 4 teams | 3-1 | 5-2 | 2-1 |
| 5 teams | 9-2 | 4-1 | 7-2 |
| 6 teams | 7-1 | 6-1 | 5-1 |
| 7 teams | 10-1 | 9-1 | 8-1 |
Futures
Sports books offer bettors the opportunity to wager on the outcome of a season -- for example, which team will win the Super Bowl or the Stanley Cup or the American League East pennant. This is known as "futures book" or "future book" betting.
As an illustration, let's look at Super Bowl futures. Sports books list each NFL team with corresponding odds to win the Super Bowl. For example, the Ravens may be 5-1, the Redskins 12-1, the Cardinals 100-1, etc. If you place $10 on the Redskins and they go on to win the Super Bowl, you collect $120 plus your $10 back for a total payoff of $130. It does not matter whether your team covers the point spread in the Super Bowl. For the purposes of future book betting, the team has to win only the Super Bowl.
When you make a futures bet, your odds are "locked in." That means if you bet the Redskins at 12-1, you will get paid off at 12-1 odds, even if the sports book later adjusts the odds (to 6-1, for instance).
Futures betting also is offered on the major events in horse racing, such as the Kentucky Derby and Breeders' Cup. In horse racing futures, if your horse does not start the race due to injury or any other reason, you lose the bet -- there are no refunds. On the other hand, the odds on your horse racing futures bet also are "locked in," regardless of the horse's odds on race day.
Some sports books offer futures betting on unusual propositions, such as which major league baseball player will hit the most home runs in the regular season. Note that in this type of wager, all bets are action regardless of injuries or other unforeseen events.
Another form of futures betting involves the over/under on the number of games a particular team will win in the regular season. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. For example, the over/under on the Yankees may be 93 wins. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner. If they win exactly 93, the bet is a push and tickets are refunded.
Among Las Vegas gamblers, golf is considered one of the two fastest-growing sports to bet on (auto racing is the other).
The most basic form of golf betting involves picking the winner of a tournament. Typically a sports book will list 30 or more individual golfers along with a field (all others) option, at various odds.
For example, Tiger Woods may be listed at 2-1, Tom Lehman at 25-1, Bob May at 100-1, etc. If you bet $10 on Lehman at 25-1 and he goes on to win the tournament, you win $250 plus your $10 back, for a total payoff of $260.
Another popular form of golf betting involves matchup propositions, in which two golfers are paired against each other in a head-to-head wager, with a betting line on each golfer set by the oddsmaker. The golfer with the better (lower) score wins the matchup. (If one golfer continues play in the tournament after his opponent misses the cut, the golfer who continues play wins the matchup.)
For example, a matchup may pit Lehman (minus 125) against Jim Furyk (plus 105). If you bet $125 on the favored Lehman, the payoff would be $100 plus your $125 back, for a total of $225. If you bet $100 on the underdog Furyk, the payoff would be $105 plus your $100 back, for a total of $205.
Some matchups pit one (usually very good) golfer against two or more others. For example, Woods may be pitted against Phil Mickelson, Davis Love III and Ernie Els. To determine the winner, take Woods' score and compare with to the best (lowest) score recorded by the three others.
Especially in major tournaments, some sports books offer odds on unusual golf propositions, such as the over/under on the winning score, the over/under on the lowest round by any golfer or the over/under on the finishing position by a particular golfer. For example, the over/under on Woods' finishing position may be 3 1/2. If he finishes first, second or third in the tournament, the "under" wins; if he finishes fourth or worse, the "over" tickets cash.
Rules vary by casino, but usually your golfer must tee off in the tournament for "action" (meaning once he tees off, you will either win or lose your bet). If for some reason he does not tee off, this is usually considered "no action" and tickets are refunded.
In head-to-head matchup propositions, both golfers must tee off for action.
To bet on hockey, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. If your team covers the goal spread, you win. The payout is based on a "Money Line".
The Goal Spread:
When betting on hockey, the team you bet on must "cover the spread." This means the team must win or not lose by a predetermined margin of goals.
The Money Line: Odds for a game based on $1.00 A "minus" (-) preceding the number indicates the team is a favorite. A "plus" (+) preceding the number indicates the team is an underdog.
Example:
| Bet No. | Team | Line | Money Line | Total |
| 401 | Sharks | +1.5 | +130 | |
| 402 | Red Wings | -1.5 | -150 | 5 |
Note: The bottom team is always listed as the home team unless otherwise noted.
The Red Wings are 1 1/2-goal favorites to win. The Red Wings must win the game by at least two goals to be a winner. If you bet on the Sharks, you win your bet if:
(a) The Sharks win the game.
(b) The game ends in a tie.
(c) The Sharks lose the game by not more than 1 goal.
Note: The money line is used in conjunction with the point spread. If the Red Wings win by 2 goals; a $15 bet would win $10 and return $25. If the Sharks win, tie or lose by one goal; a $10 bet would win $13 and return $23.
It is common for a team to be listed as a 1/2-goal favorite and be listed with a +120 price. This means that by giving up 1/2 goal, a $10 bet would win $12 for a return of $22.
Total: Total points scored in a game. Also called the over/under.
You may wager that the total score of the game will be more or less than the number listed. It makes no difference which team covers the spread. Simply add the final scores of each team. The payout, unless stated otherwise, is figured at odds of 10/11 (-110).
Hockey Parlays
You may combine several teams into one wager. All teams must win to win the bet. Hockey parlays are figured out by calculating the payout for the first game, based on the money line, then applying that amount to the next game and so forth.
Horse racing
Thanks to satellite feeds from racetracks around the nation, Las Vegas is a sort of nirvana for horse racing bettors (or "horseplayers," as they are sometimes called).
Because there are so many tracks to choose from, in Las Vegas race books it is usually necessary to identify which track you want when you place your bet. For example, tell the ticket writer, "Churchill Downs, eighth race, five dollars to win on No. 4."
Otherwise, betting procedure in the race book is the same as at the track: For you to collect on a "win" bet your horse must win the race, to collect on a "place" bet he must finish first or second, and to collect on a "show" bet he must finish first, second or third.
Betting a horse "across the board" is really three separate bets: one to win, one to place and one to show.
Hitting an "exacta" entails picking the first two finishers in a race in the correct order; a "quinella" is the first two finishers in either order. A "trifecta" is the first three finishers in exact order; a "trifecta box" is the first three in any order. A "superfecta" is the first four finishers in exacta order.
A "daily double" is a wager that calls for picking the winners of two consecutive races. A "daily triple" entails picking the winners of three consecutive races. And a "Pick Six" calls for picking the winners of six consecutive races, an extremely difficult feat that is usually rewarded with an enormous payout.
In Las Vegas, race books frequently offer promotions such as free contests with cash prizes, special house-banked betting pools that grow larger if no one hits them for a few days or horse racing tournaments. Rules and details vary greatly by casino so be sure to shop around to find those that appeal to you.
Propositions
Nevada sports books are not permitted to accept wagers on presidential elections, the Academy Awards or the winner of the TV show "Survivor." Some sports books may post odds on these events as a publicity stunt, but these odds are for amusement only. They are not real betting lines.
Under state law, wagers must involve the outcome of "athletic contests" rather than elections or votes of any kind. This means you cannot even bet on who will win awards such as the Most Valuable Player, Rookie of the Year, Cy Young and the like.
Even so, "wacky" proposition bets can sometimes be found in Las Vegas sports books. They are often linked to the Super Bowl or another major sporting event.
For instance, in Super Bowl XXXV gamblers could bet on whether the Ravens would score more touchdowns than the Chicago Blackhawks scored goals on Super Bowl Sunday -- and that was just one of countless "wacky" propositions.
As another example, to generate interest in Monday Night NFL games, many sports books offer odds on which player will score the first touchdown in the game.
These "wacky" bets can be lots of fun, but odds and details vary tremendously by casino, so read the fine print before getting involved.
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