How to Bet on Sports
LESSON 1
Types of Sports Betting
The numbers at the sports books will confuse you at first. Below, you will learn the basics of sports wagers and how to place them, along with a few advanced methods to get you started on the winning track.
This guide is provided for informational purposes only. This is not a betting site. Use this site for education. Read this stuff and understand it BEFORE you put your hard-earned money at risk.
How odds are displayed
Betting odds are expressed in different ways, but essentially the odds all mean the same thing. I don’t know why sports books do it—probably to confuse bettors a little bit more. Without further ado…
Odds are often displayed as fractions such as 9/2. That is 9 divided by 2, which works out to 4.5. This number—4.5—can be shown as +450 or it can be shown as 4.5 to 1 or 4.5:1 or 4.5/1. They all mean exactly the same thing.
However, there is a big difference between odds that are “to 1” and odds that are “for 1.” In very simple terms, “to 1” odds mean you get your initial wager back as part of the winning payout. If a payout is shown as 10 to 1 and you bet $10, your payout would be $110. “For 1” odds mean that you do not get your original bet back as part of the payout. If a payout is shown as 10 for 1, and you bet $10, you would be paid $100. Parlay Cards and Teaser Cards are often “for 1” payouts.
You have “Action” if you have placed a bet in the sports book. You will often see the phrase “All Bets Are Action.” This means that your bet is your bet. If you don’t like the bet after you leave the window, for whatever reason, it is still your bet and the sports book has no responsibility to correct it or refund your money. Make sure your bet is correct before you leave the betting window.
Baseball
To bet on baseball, tell the ticket writer the bet number (which is also known as the Rotation Number) of the team you wish to bet and the amount you wish to wager. Betting a “team” in sports is also called betting a “side.” Hence, betting the Colorado Rockies baseball team is the same as having a “side” on the Rockies.
If your team (or side) wins the game, you win. The payout varies according to the odds posted. Baseball odds are shown using a “Money Line.”
Baseball Money Line
Odds for a game are based on a $100 bet, but you can typically bet any amount of $5.00 or greater. A “minus” (-) preceding the money line number indicates the favorite. A “plus” (+) preceding the number indicates the underdog.
Example:
The pitchers noted below are the starting pitchers, also known as the “Listed” pitchers. This is important, as you can bet the game with the Listed pitchers or bet the game as “Action.” If you have bet the game as Listed and one or both listed pitchers do not start the game, the bet is returned to you as no Action. If you have bet the game as Action, then you have a bet regardless of whether one or both of the noted pitchers do not start.
| Bet Number | Team | Pitcher | Odds | Total | Money Line for Total |
| 301 | Cardinals | Martinez | +110 | 7.5 | Over -110 |
| 302 | Cubs | Hendricks | -120 | Under -110 |
Note: The home team is always shown on the bottom, unless otherwise noted.
In the above example, the Cubs’ odds are -120, meaning a $120 bet would win $100, for a return of $220. The Cardinals odds are +110, meaning a $100 bet would win $110, for a return of $210.
Many sports books still use a “Dime Line.” A Dime Line simply denotes there is ten cents difference between the teams, as in the example line below:
Red Sox -110
Astros +100
A 20-cent line would look like this.
Braves -120
Dodgers +100
Here are two more examples of a dime line and a 20-cent line:
Rockies -105
Marlins -105
Mariners -120
Angels Even
You can arrive at the underdog’s price by looking at the favorite’s line. With a Dime Line, the favorite might be shown as -130. This implies the underdog is +120. Unfortunately, dime lines are disappearing as sports books look to make a larger profit during what is traditionally the slowest part of the sports betting season. Sports bettors are becoming less discerning and will often bet whatever line is offered.
Money lines change constantly. The money line displayed at the time you make your bet may be different from the money line when the game starts. The money line printed on your ticket is your official odds and the odds you will be paid at, if your wager is a winner.
Baseball Total Points
Total runs scored in a game. This is often referred to as 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 or how many runs either team scores. Simply add the final scores of each team. The payout, unless stated otherwise, is figured at odds of 10/11. (-110). The money lines on totals can often be juiced, meaning the oddsmakers think a total is more likely to go Over, but do not want to move the number up or down by a half point (run) or full point (run). You may see a Total like this:
| Over/Under | Money Line |
| 8.5 | -130 |
| +110 |
The top number -130 corresponds with betting the over 8.5 runs; the bottom number is the line for betting the under.
Note: These rules apply when betting a total:
(a) The game must go nine innings, or 8 1/2 innings if the home team is ahead after the visiting team bats in the top of the ninth inning.
(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
A point spread of 1 1/2 runs given to a baseball team or side.
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 Number | Team | Pitcher | Money Line | Total | Money Line for Total | Run Line | Money Line for Run Line |
| 301 | Dodgers | Hill | +110 | 7.5 | Over -110 | +1.5 | -180 |
| 302 | Braves | Sanchez | -120 | Under -110 | -1.5 | +160 |
The Braves must win by 2 runs; a $100 bet would win $160 and return $260. The Dodgers must not lose by 2 runs; an $180 bet would win $100 and return $280.
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.
First Five Innings
You can also bet the first half of a baseball game. This is usually called a “First Five Innings” wager. The betting options are exactly the same with this type of wager, as they are with betting the full game.
Baseball Proposition Wagers
Some sports books offer baseball proposition wagers. One of the more popular baseball props is whether or not there will be a score, by either team, in the first inning. Another is which team will score first in the game. Both of these proposition bets are bet using a money line.
Often one side of the prop is designated the favorite, or more likely event to happen, by placing a minus (-) sign next to the money line. The underdog, or less likely outcome in the estimation of the oddsmaker, is denoted by a plus (+) sign next to the money line.
Baseball Parlays
You may combine several teams or totals into one wager. All teams or totals must cover 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 |
We don’t have a breakdown of multipliers for every bet, but the good news is you don’t have to either. There are parlay calculators available on the internet, like this one: https://www.calculatestuff.com/miscellaneous/parlay-calculator
Be sure to use the correct + or – signs associated with the money lines you are parlaying.
Basketball
To bet on basketball, tell the ticket writer the bet number (Rotation Number) of the team you wish to bet 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 $110 would win $100 and return $210. On the board this is designated -110.
A single wager placed on the team (side) or total is known as a straight bet.
Basketball Point Spread
When betting on the point spread in 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 Number | Team | Line | Total |
| 201 | Celtics | -3.0 | |
| 202 | Lakers | 198.5 |
Note: The home team is always listed as the bottom 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 Celtics, the Celtics must win by 4 points for you to win your bet. If you bet the Lakers, any of the following will declare your bet a winner.
(a) The Lakers win the game.
(b) The Lakers lose the game by not more than 3 points.
If the Celtics win by exactly 3 points, then the wager is declared a “push” (or tie) and all money is refunded.
Point spreads change constantly. The point spread listed at the time you make your bet may be different from the point spread when the contest starts. The point spread that is printed on your ticket is your official spread and will determine whether you win or lose your bet.
Basketball Total Points
Total points scored in a game. Also called the over/under.
You can wager that the total final score of the contest will be greater or less than the number listed. It makes no difference which team covers the spread or scores the most points. Simply add the final score of each team. All points scored in overtime will count toward the total final score. The payout, unless stated otherwise, is figured at odds of 10/11, which will be shown as (-110)
Basketball Money Line
You can also bet money lines on basketball teams. One team will be shown as the favorite and the other team shown as the underdog, and it might look like this on the board:
Golden State Warriors -200
Houston Rockets +180
A $200 wager on the Warriors would win $100 for a payout of $300. A $100 wager on the Rockets would win $180, for a payout of $280.
A money line wager does not figure in the spread; it is simply a wager on which team wins the game.
First Half and Second Half Wagering
Most sports books offer wagers on the outcomes of the first half and second half, and even wagers on the individual quarters of professional basketball contests. All bet options are the same for quarter and half wagering, allowing wagers on spreads, money lines and totals.
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. If any of your teams or totals lose, then the ticket is a loser.
Odds and the number of teams may vary at different sports books and online. Online odds are generally more favorable than sports book odds. The following parlay odds are approximate:
| 2 Teams | 13 to 5 |
| 3 Teams | 6 to 1 |
| 4 Teams | 11 to 1 |
| 5 Teams | 22 to 1 |
| 6 Teams | 44 to 1 |
| 7 Teams | 90 to 1 |
Any game that results in a push reduces the parlay by one team. A two-team parlay would become a straight bet and would be paid as a straight bet.
We don’t have a breakdown of multipliers for every bet, but the good news is you don’t have to either. There are parlay calculators available on the internet, like this one: https://www.calculatestuff.com/miscellaneous/parlay-calculator
Be sure to use the correct + or – signs associated with the money lines you are parlaying.
Basketball Teasers
A wager that improves the point spread, but at reduced odds.
“Teasing” the point spread is done by adding points to an underdog or by subtracting points from a favorite. This increases the probability of winning your bet but decreases the odds of the parlay payout. Odds and the number of points available to “tease” can vary considerably. Typically, the sports book will have Parlay Cards and Teaser Cards available for your selections. These cards will show the payouts. Be very careful. Some sports books will structure their payouts differently. Instead of offering odds “to 1” they will offer odds “for 1.” “To 1 odds” are always better (pay more) than “for 1 odds.”
Boxing/UFC/MMA
To bet on boxing, MMA or UFC, tell the ticket writer the bet number of the fighter you wish to bet and the amount you wish to wager. These odds are shown using a “Money Line.”
Boxing Money Line
Odds for a contest based on $100. A “minus” (-) preceding the number indicates a favorite. A “plus” (+) preceding the number indicates an underdog.
Example:
| Bet Number | Boxer | Odds |
| 2001 | Floyd Mayweather | -260 |
| 2002 | Manny Pacquiao | +220 |
In this example, Mayweather is favored to win the bout. If Mayweather wins, a $260 bet would win $100 and return $360. If Pacquiao wins, a $100 bet would win $220 and return $320.
A draw on a straight bet will refund your bet.
Boxing, MMA and UFC bouts often feature money line proposition wagers (also called “Props”) on knockouts, draws, rounds and the duration of the fight. Odds will vary on each fight and for each prop.
Football
To bet on a football spread, tell the ticket writer the bet number of the team you wish to bet, and the amount you wish to wager. The payout, unless stated otherwise, is figured at odds of 10/11. (-110). This means that a wager of $110 would win $100 and return $210.
This is called a straight bet.
When betting on football sides, 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 Number | Team | Line |
| 101 | Texans | |
| 102 | Rams | -6.0 |
Note: The home team is always listed as the bottom team, unless otherwise stated.
The point spread is always placed to the immediate right of the team that is favored. If you bet the Rams, the Rams must win by 7 points for you to win your bet. If you bet the Texans, any of the following will declare your bet a winner.
(a) The Texans win the game.
(b) The game ends in a tie.
(c) The Texans lose the game by not more than 6 points.
If the Rams 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 printed on your ticket is your official spread.
| Bet Number | Team | Line | Total | Money Line |
| 101 | Texans | 41.0 | +160 | |
| 102 | Rams | -6.0 | -180 |
Football Total Points
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 or scores the most points. Simply add the final score of each team. All points scored in overtime will count toward the final total. The payout, unless stated otherwise, is figured at odds of 10/11 (-110).
Bettors often have the option to bet on which team will win the contest straight up. This is called betting on the “Money Line”
Football Money Line
Odds for a game based on $100. A “minus” (-) preceding the number indicates the team is a favorite. A “plus” (+) preceding the number indicates the team is an underdog.
| Bet Number | Team | Line | Total | Money Line |
| 103 | Texans | 41.0 | +160 | |
| 104 | Rams | -6.0 | -180 |
The Rams’ odds are -180, meaning a $180 bet would win $100 for a return of $280. The Texans’ odds are +160, meaning a $100 bet would win $160 for a return of $260.
First Half and Second Half Wagering
Most sports books offer wagers on the outcomes of the first half and second half, and even wagers on the individual quarters of football contests. All bet options are the same for quarter and half wagering, allowing wagers on spreads, money lines and totals.
Football Parlays
More than one team on the same bet. All teams must win (or cover the spread or total if that is how you bet the games in your parlay).
All teams and/or totals must cover the point spread to win the bet. Odds and the number of teams vary among sports books. The following are approximate odds:
| 2 Teams | 13 to 5 |
| 3 Teams | 6 to 1 |
| 4 Teams | 11 to 1 |
| 5 Teams | 22 to 1 |
| 6 Teams | 44 to 1 |
| 7 Teams | 90 to 1 |
Any game that results in a push reduces the parlay one team. A two-team parlay would become a straight bet and would be paid as a straight bet. We don’t have a breakdown of multipliers for every bet, but the good news is you don’t have to either. There are parlay calculators available on the internet, like this one: https://www.calculatestuff.com/miscellaneous/parlay-calculator
Be sure to use the correct + or – signs associated with the money lines you are parlaying.
Football Parlay Cards
These offer the potential for huge returns while betting as little as $2.
Sports books offer a few different cards, each one having different rules. Rules for parlay cards are placed on each card. Read them carefully before wagering. The cards are easy to fill out. Simply darken the boxes, or circles, that apply to the sides or totals you wish to parlay. Darken the circle denoting the number of individual bets you have in your parlay, then darken the amount you want to bet.
Football Teasers
A wager that improves the point spread, but at reduced odds.
Teasers cannot be straight bets.
“Teasing” the point spread is done by adding points to the underdog or by subtracting points from the 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 greatly. Typically, the sports book will have Parlay Cards and Teaser Cards available for your selections. These cards will show the payouts. Be very careful. Some casinos will structure their payouts differently. Instead of offering odds “to 1” they will offer odds “for 1.” “To 1 odds” are always better (pay more) than “for 1 odds.”
Futures
Sports books offer bettors the opportunity to wager on the outcome of a season, for example, which team will win the Super Bowl, World Series or Lord Stanley’s Cup. This type of wager is known as “futures book” or “future book” betting. More simply, futures.
Let’s consider Super Bowl futures. Sports books list each NFL team with corresponding odds to win the Super Bowl.
Example:
The Patriots may be 5 to 1, the Bears 20 to 1, the Browns 100 to 1, etc. If you place $10 on the Patriots and they go on to win the Super Bowl, you collect $50 plus your $10 back for a total payoff of $60. It does not matter whether your team covers the point spread in the Super Bowl. For the purposes of futures betting, the team you wagered on only has to win the Super Bowl. Nothing else matters for deciding whether the ticket wins or loses.
Types of Futures Betting
When you make a futures bet, your odds are “locked in.” That means if you bet the Seahawks at 12 to 1 to win the Super Bowl, you will get paid at 12 to 1 odds if the Seahawks win, even if the sports book later adjusts the odds (to 5 to 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; all bets are Action. 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 propositions, such as which NFL running back will gain the most yards in the regular season. Note that in this type of wager, all bets are Action regardless of injuries or other unforeseen events, like suspensions.
Another form of futures betting involves the Total on the number of games a particular team will win in the regular season. You can wager on the Over or Under number set by the sports book. This type of wager is typically found on college and pro football, major league baseball, and pro basketball.
Example:
The Total Regular Season Wins (which might be abbreviated as RSW) on the Boston Red Sox may be 95 wins. If the Red Sox go on to win 96 or more games, the “over” is a winner. If they win any fewer than 95 games, the “under” is a winner. If they win exactly 95, the bet is a push and wagers are refunded.
Golf
The most basic form of golf betting involves picking the winner of a tournament. Depending on how many entrants a golf tournament has, a sports book may list 40 or more individual golfers along with a Field (all others) option, at various odds.
Example:
Dustin Johnson may be listed at 5 to 1, Sergio Garcia at 20 to 1, Danny Willett at 100 to 1, etc. If you bet $10 on Sergio at 20-1 and he goes on to win the tournament, you win $200 plus your $10 back, for a total payout of $210.
Another type of golf wager 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. (In the event that one golfer continues play in the tournament after his opponent misses the cut, the golfer who continues play wins the matchup.)
Example:
A matchup may pit Dustin Johnson (-125) against Rory McIlroy (+105). If you bet $125 on the favored Johnson, the payoff would be $100 plus your $125 back, for a total of $225. If you bet $100 on the underdog McIlroy, 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.
Example:
Dustin Johnson may be pitted against Ian Poulter, Bubba Watson and Webb Simpson. To determine the winner, compare Johnson’s final score to the best (lowest) score recorded by the three others.
Especially in major tournaments, some sports books offer odds on 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 of a particular golfer.
Example:
The over/under on Dustin Johnson’s 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 are paid.
Rules vary by sports book, 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 wagers are refunded.
In head-to-head matchup propositions, both golfers must tee off for Action.
Hockey
There are various ways to wager on hockey. You can wager the Money Line, the Total or the Puck Line. 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.
Hockey Puck Line
When betting on hockey, the team you bet on must “cover the spread.” This means the team must win—or not lose—by the margin of goals set by the oddsmaker. The Puck Line is always +/-1.5 goals, with money line odds corresponding to each side.
Hockey Money Line
Odds for a game based on $100. A “minus” (-) preceding the number indicates the team is the favorite. A “plus” (+) preceding the number indicates the team is the underdog.
Example:
| Bet Number | Team | Puck Line | Money Line | Total |
| 1 | Sharks | +1.5 | +130 | |
| 2 | Golden Knights | -1.5 | -150 | 5.0 |
Note: The bottom team is always listed as the home team unless otherwise noted.
The Golden Knights are 1.5 goal favorites to win. The Golden Knights must win the game by at least two goals for your bet 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 Puck Line. If the Golden Knights win by 2 goals; a $150 bet would win $100 and return $250. If the Sharks win, tie or lose by one goal, a $100 bet would win $130 and return $230.
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 $100 bet would win $120 for a return of $220.
Hockey Total Points
Total goals scored in a game. Also called the over/under.
You may wager that the total score of the contest 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 or totals into one wager. All teams, also known as legs, must win or cover 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. We don’t have a breakdown of multipliers for every bet, but the good news is you don’t have to either. There are parlay calculators available on the internet, like this one: https://www.calculatestuff.com/miscellaneous/parlay-calculator
Be sure to use the correct + or – signs associated with the money lines you are parlaying.
Horse Racing
Thanks to satellite feeds from racetracks around the country—and around the world, for that matter—sports books and their associated race books are Valhalla for horse racing bettors (or “horseplayers,” as they are often called). You will often see the words Race and Sports Book. This denotes that the establishment takes both horse (and often dog) racing wagers as well as sports wagers
Because there are so many tracks running racing programs simultaneously, it is necessary to identify which track you want when you place your wager. For instance, tell the ticket writer, “Churchill Downs, first race, $10 to win on No. 3.”
Types of Horse Racing Bets
Common horse racing wagers are to Win, to Place, and to Show. A Win wager is betting that a particular horse will win the race. A Place wager is that a particular horse will finish second, and a Show wager is that a particular horse will finish third.
Betting procedure in the race book is the same as if you were betting live at the horse track: For you to collect on a “win” bet your horse must win the race, to collect on a “place” bet the horse must finish first or second, and to collect on a “show” bet the horse can finish first, second or third.
Betting a horse “across the board” is three separate wagers: one to win, one to place and one to show.
Popular horse bet options include the following wager types: An “exacta” involves 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 exact order. A “superfecta box” is the first four horses in any order.
A “daily double” is a wager that requires picking the winners of two consecutive races. A “daily triple” requires picking the winners of three consecutive races. And a “Pick Six” calls for picking the winners of six consecutive races, a very difficult feat that is usually rewarded with an enormous payout, often in the hundreds of thousands or even millions of dollars.
Race books sometimes 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 race book, so be sure to ask about any special promotions being offered.
Propositions
To generate additional wagering interest in Thursday, Sunday and Monday Night NFL games, many sports books offer odds on which player will score the first touchdown in the game. Even what the first score of the game will be—a touchdown or a field goal or a safety. And even alternative game spreads. There will usually be betting sheets available in the sports books detailing the various proposition bets being offered on that particular day.
Nevada sports books are not permitted to accept wagers on presidential elections, the Academy Awards or the winner of the Nathan’s Hot Dog Eating Contest. 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. However, some online/offshore books will offer these propositions. Check with your sports book to see if these types of wagers are allowed in your state.
Under Nevada 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. Many of these types of proposition wagers can be found online through offshore sports books.
Lessons
Bet Smart Tip
LOOK FOR A REASON TO BET THE DOG
