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Sports Betting 101

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Sports Betting 101

Types of Wagers

Straight Wagers | Point Spread | Money Line Wagers | Total Wagers | Buying Point | Proposition Wagers | Futures | Parlays | Round Robins | Teasers | Special Teasers and Parlays | Free 1/2 Point Program's Enhanced Teaser Odds| If Wagers | Action Reverse | 'To Win It All' Futures | Half-Time Wagers | Quarter Wagers | Horse Wagers | Buying Points | Round Robins | Reverses


Straight Wagers

A straight wager is a single bet placed on a point spread, money line, or total. A bet is placed on the favorite (team with the odds in its favor), the underdog / dog (the team with the odds against it) or the final score of the game (over or under a predetermined total).

The favorite is indicated by a minus sign (-) and the underdog by a plus sign (+). If there is no favorite, there won't be any numbers next to the teams’ names and the risk will automatically be assigned as -110. In this case, to win $100, you must risk $110. If you win the wager, the risk ($110) will be refunded to you, plus the $100 in winnings ($110 + $100 = $210). The 10% risked is known as the juice. The "juice" or "VIG" is the difference between what is wagered and what can be won. When the number next to a team’s name is positive (which will be the case when you bet on an underdog), it means you risk less to win more.

NOTE: In baseball you can make your bet conditional on which pitcher is starting. You have the ability to specify in advance if you would like your bet to be withdrawn if the pitcher that is supposed to start is changed.

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Point Spread

A point spread is set for each game based on which team is favored. In order to win, you must “cover the spread.”

  • If you wagered on the favorite and it wins the game by more than the spread, you covered the spread.
  • If you wagered on the underdog and the favorite wins by less than the spread, you win.
  • If you wagered on the underdog and it wins the game outright, you win.

NOTE: If the favorite won the game by the exact amount indicated by the spread, the game ends in a tie (or push) and all money is refunded. You do not win or lose any money.

Example:

Player wagers $110.00 on Miami -7 to beat Buffalo +7

If Miami wins by more than 7 points the player wins $100.00. The total payout including the initial wager would be $210.00. If Miami only wins by 7 points, then the game is considered "no action" and all money is returned to the bettor. If Miami wins by less than 7 points the wagers is lost.

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Money Line Wagers

In a money line bet, the bettor picks one of two teams in a game, matchup or tournament, and receives odds based on how favored or unfavored the team is to win.  Oddsmakers set the money line so that more money must be risked on the favorite and less money on the underdog. The team the bettor wagered on must win outright; it does not matter how many points the team wins by.

Example:

The player wagers on Miami -240 at Buffalo +140.

If Miami wins, the player would wager $240.00 to win $100.00. If the player wagered on Buffalo, the player would wager $100.00 to win $140.00.

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Total Wagers

When you bet the total, you are saying that the combined scores of the two teams (sides) will be more than or less than a given number.

Example:

The player wagers $220.00 on the 'OVER' in the Miami / Buffalo game. The total for the game is 45.

If the combined score of both teams is more than 45, the player wins $200.00. If the combined score is equal to 45, the game is considered 'No Action' and the money is re-deposited to the player's account. If the combined score is less than 45, the wager is lost.

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Buying Points

Buying points allows you to improve your odds by decreasing the spread, therefore allowing you to win when your team scores fewer points. Point buying is available for football and basketball on game sides and totals only. Players may buy up to one full point at $0.10. Buying on or off the three in the NFL or NCAA Football will cost an additional $0.25.

Example:

Detroit is –8, although the player wants to buy it to –6 and win $100.
The wager would be Detroit –7, $150 to win $100. The initial line is –110, then ten cents is added for each half point to make the new line Detroit –6 –150.

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Proposition Wagers

Props, or proposition bets, are bets offered on the outcome of specific events. These wagers can be on sporting events, politics, trial outcomes, the weather - practically anything. The wagers use the money line format of odds and might included details such as who scores the first touchdown in the Super Bowl.

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Futures

Futures are bets in which odds are posted in advance on the winners of various major events such as the Super Bowl, the World Series, the Stanley Cup, and the NBA Championship. By betting early, players often receive better odds than they would later in the season.

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Parlays

A parlay is a combination of 2 to 10 straight wagers placed as one wager. In order to win the bet, all your picks must be winners. This higher risk will result in a greater payout, calculated according to the money lines. If there is a tie or 'No Action' among the selections made, the parlay reverts down to the next lowest number for payoff. In the case of a 2-team parlay, it will revert down to a straight wager. The maximum payout in a parlay is $100,000. We do not pay true odds.

Example:

The player wants to make a 5 team parlay: Miami -7, New York +3, Seattle -4, Denver -10, San Francisco -8.

If a player bets $10 and all these games win, the player wins $210 at 21/1 odds. If 4 of the games win and 1 of the games is considered 'No Action', the player wins $110 at 11/1 odds. If 1 of the games loses, the player only loses $10 because the parlay loses.

Parlay Odds
Standard Parlay

Number of Teams 2 3 4 5 6 7 8 9 10
Payout 2.6 6 10 20 35 60 80 200 300

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Round Robins

Round robins are wagers where the customer picks 3 to 8 teams and matches them in as many two team combinations as possible.

Example:

-Dolphins -5
-Eagles +2.5
-Bills +7

Possible combinations are:

2TP 2TP 2TP
Dolphins -5 Dolphins -5 Eagles +2.5
Eagles +2.5 Bills +7 Bills +7

Playing this round robin for $100 involves putting $100 on each possible 2 team parlay combination for a total ticket of $300.

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Teasers

A teaser is a selection of two or more teams in one wager in which the point spread is adjusted in the player’s favor. The number of teams selected and the number of points selected determine the payout odds. Ties on a teaser with three or more teams will revert to a lower teaser. (For example a tie on a three teamer becomes a two team teaser.) A 'tie' or 'no action' and a 'loss' on a two team teaser is considered a loss.

  • Arena Football and Canadian Football cannot be included in any of our teaser options.
  • You can tease middles.
  • Open spots allowed for up to one week
  • No open spots on teasers less than $25
  • Can't tease halves or quarters. Games only.
  • Min. $5 and max $1,000
  • Maximum payout is $100,000

Teaser Odds

Standard Teasers      
Football Points +6 +6½ +7
Basketball Points +4 +4½ +5
2 TEAMS 10/11 10/12 10/13
3 TEAMS 17/10 15/10 13/10
4 TEAMS 3/1 2.5/1 2/1
5 TEAMS 9/2 +400 +350
6 TEAMS 6/1 +550 +500

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Special Teasers

See below for a list of our Internet-exclusive teasers!

  • Arena Football and Canadian Football cannot be included in any of our teaser options.
  • No open spots. No halves allowed.
  • A push on a special teaser constitutes a loss.
  • If a game is restricted from normal teasers, it will be restricted on Internet teasers as well.
  • If you receive an error message or can't process your bet, you may have timed out.You must review up to 15 teams within 5 minutes.
3 Team Special Teasers - Ties Lose  
Football points + 10
Basketball points + 7
4 teams 120/100

 

4 Team Special Teasers - Ties Lose  
Football points + 13
Basketball points + 9
3 teams 130/100

 

The TORTURE
"You lay more, we pay more."
Football Points
- 7
Basketball Points
- 5
Teams
Odds
2 for 2
6.5 to 1
3 for 3
18 to 1
4 for 4
50 to 1
Bet as little as $5 to win $25,000 with our torture teasers. If you can handle the “torture” of adding points against you, try our torture teasers for unbelievable payoffs. Ties lose.

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Free 1/2 Point Program's Enhanced Teaser Odds

SKYBOOK SPECIAL

Teaser FB Pts BK Pts Odds Buy +½ Buy +1 Description (Tie)
2 Team Skybook Torture 7 5 650 0 0 Loses
2 Teams 6-6½-7 4-4½-5 -105 -115 -125 No bet
3 Team Skybook Torture 7 5 1800 0 0 Loses
3 Teams 6-6½-7 4-4½-5 180 160 150 Demotes to 2Team FB6-6½-7 BK4-4½-5
3 Team Special Teaser 10 7 -110 0 0 No bet
4 Team Skybook Torture 7 5 5000 0 0 Loses
4 Teams 6-6½-7 4-4½-5 320 250 200 Demotes to 3Team FB6-6½-7 BK4-4½-5
4 Team Special Teaser 13 9 -120 0 0 No bet
5 Teams 6-6½-7 4-4½-5 475 400 350 Demotes to 4Team FB6-6½-7 BK4-4½-5
6 Teams 6-6½-7 4-4½-5 720 600 500 Demotes to 5Team FB6-6½-7 BK4-4½-5

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‘If’ Wagers

’ If’ wagers allow you to place multiple bets that are dependent on the outcome of the preceding bet. A bet is placed that will only be carried out if the first bet made was won or tied, depending on what you specify. The amount on the subsequent bets on an “if bet” can’t be more than the one wagered in the first part.

The bets do not have to occur in the same order as the game times. Also, you do not have to re-invest all of your winnings in subsequent bets; instead, you select the amount you want to bet in each game. The condition “if win only” is called single action and “if win or tie” is also called double action. If the preceding bet is a push or is canceled for any reason, the remaining bet(s) will not be placed. The picks for the “if bet” must be made on the same call (or internet session).

Example (Double Action)

- Dallas Cowboys -5 $110 to win $100
- IF (if win, tie, or cancel)
- Carolina Panthers +4 $110 to win $100

If the Cowboys lose, the wager stops there and is scored a loser -$110. If the Cowboys win +$100, the wager continues to the Panthers wager. If the Panthers win, the wager is a $200 winner. If the Panthers lose, the wager is a $10 loss.

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Action Reverse

These wagers are two “double action if bets” involving the same two straight wagers, but inverted.

Example

Part A Part B
Cowboys -5 $110 to win $100 Dolphins -14 $110 to win $100
IF (win, tie or cancel) IF (win, tie, or cancel)
Dolphins -14 $110 to win $100 Cowboys -5 $110 to win $100
If both teams win +$400
One win, one loss -$120
Both teams lose -$220
One win, one Push +$200

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'To Win It All’ Futures

’To Win It All’ Futures are based on the outcome of a tournament, race, match or season. All wagers are final. The bettor’s account will be charged when you make the wager. There will be no payouts until the conclusion of the specified tournament, race, match or season.

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Half-Time Wagers

These wagers are available for the first and second half of specified games. All halftime wagers are calculated the same as a straight wager unless otherwise indicated. There are no teaser plays or buying of points on half-times. On half-time wagers, overtime periods are graded as part of the 2nd half.

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Quarter Wagers

On special games, wagers are available on quarters. All wagers must go the full period. Quarter wagers are calculated the same as a straight wager unless otherwise indicated. There are no teaser plays or buying of points on quarter wagers. On quarter wagers, overtime periods are not included as part of the 4th quarter.

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Buying Points

Buying points allows you to improve your odds by decreasing the spread, therefore allowing you to win when your team scores fewer points. Point buying is available for football and basketball on game sides and totals only.
You can buy up to 1.5 points on straight wagers and 1 point on parlays. Charge per ½ point is 10 cents. You can buy on 3 with a surcharge of 20 cents, cannot buy off 3.
Can buy on 7 with a surcharge of 15 and can buy off 7 with a surcharge of 20 cents.

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