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, …