If-win bets are based on the results of one particular game. Bettors wager a fixed amount on one team in an If-win bet. If that team wins or the game is tied, then another fixed amount – up to the original amount – is bet on a different team.
Your first wager must win in order for you to have action on the remaining wagers. If the first wager loses, there is No Action thereafter. You cannot have duplicate teams in the same If-win wager.
Sports Betting – Payoffs and Odds
The payoff for football, basketball, and hockey is $100 for every $110 wagered, unless otherwise noted. Therefore, $110 will be wagered if you specify a $100 straight bet.
At odds of 100/110, only 52.5% of your bets have to win for you to overcome the bookmaker’s profit and break even. As a result, the bettor only need a very small edge to become a winner. Some sports bettors win 55- or even 60% or their bets.
Parlay bets are another story. The actual odds of picking two winners is 3 to 1, but a typical payout is 2.6 to 1. This gives the sportsbook a 10% advantage, and that’s too much! Worse still, the odds usually get even longer when you add more games to your parlay. In a nutshell, it’s best to avoid parlay bets.
Sports Betting – Exotic Bets
Sportsbooks often post odds and accept wagers on a variety of other activities – just to keep life interesting.
For example, you may be able to place a bet on who will win the Presidential race or the Best Actor award at the Oscars. The oddsmaker sets the conditions and odds for these bets.
Many exotic bets are offered at 110 to 100 odds, but some will be offered at better or worse odds, depending on the bet.
Sports Betting – Future Bets
At the start of a season, the sportsbook will give kaya qiu qiu odds for each team winning the championship (World Series, Stanley Cup, etc.). For example, you might bet at the start of the season that the Detroit Red Wings will win the Stanley Cup.
Although futures bets have considerable juice, occasionally a savvy (or lucky) sports bettor manages to win big with a longshot.
The odds on a team will change as the season goes on, but you get the odds that were in effect at the time you placed your bet.
Sports Betting – Teasers
A teaser is like a parlay, but you can add or subtract points from the spread to make your bets stronger. This is called moving the line. Additional points are either added to the underdog or subtracted from the favorite when betting a teaser.
The odds change according to the number of points the spread is moved and the number of teams combined to form the teaser.
For example, New York might be favored by 9 points in one game and Chicago might be favored by 12 points in a second game. A 6 point teaser would adjust the Chicago point spread 6 points in the customer’s favor; i.e. Chicago would now be favored by 6 points (12-6=6).
The customer might make a bet on a 6 point teaser with Chicago and New York. In this example, the customer is betting that Chicago will win by 6 points and New York will win by 3 points (9-6=3). As in the parlay, all teams must win.
Ties are often considered losing bets at many sportsbooks, not pushes, so check the rules before you bet.
Teaser bets may sound good, but the payout odds are even worse than parlays. Like parlays, teaser bets should be avoided.