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Bookmakers traditionally offer two different types of wagers on the winner of a
sporting event, straight up or money line bets, and point spread wagers. Money
lines and straight up bet prices are generally used to set the odds on events
such as association football, hockey and baseball, individual vs. individual
matches like boxing, and so on.
For these sports, straight up odds are usually offered by bookmakers in Europe
and Asia. These bets are quoted based on a payout for a single unit, such as a 2
to 1 favorite for example, that would be listed at a price of 1.50, whereas an
underdog that returns twice the amount wagered would be listed at the price of
American bookmakers are much more likely to use money lines, which tend to
be quoted in terms of the amount that is required to win $100 on a favorite, or
the amount that is paid for a $100 bet that is placed on an underdog. The
amount that is won in a bet like this is the net amount over and above the
amount of the initial bet. If a person happens to win $200 dollars on a bet of
$100 dollars, then the bookmaker will actually pay $300 to the winner, which is
the $200 dollars plus the initial bet amount of $100.
Bookmakers may use a dime line with money lines as a way to calculate the
vigorish that they will receive on any wager that is losing.
Unlike with point spread bets, money line wagers require only that the team that is being wagered upon wins the match. In sports like baseball, where there are specific teams that can be heavy favorites against opponents that are considered to be weaker, sometimes by as much as -350 or more, the money line system normally requires that hefty sums be risks on the favorite team while enticing the underdog players with a higher potential payout.
Run Line, Goal Line, Puck Line Bets
There are also a number of other types of alternative bets that bookmakers may or may not be willing to offer
These are wagers that are placed on very specific outcomes of matches. For example, guessing how many goals a soccer team scores in a particular match, or betting whether a wide receiver in a particular football game will net more or less than a specific total yardage total. Another example is if you were to wager that a baseball player from one team would accumulate more hits than a player from the opposing team.
Parlays involve multiple bets, with as many as twelve in some
circumstances, rewarding successful bettors with very large payouts. Bettors
could include four different wagers in four team parlays for example, where
the bettor is wagering that all four of the bets will win. If any of the four bets
fail to cover, then the bettor will lose the entire parlay, but if all four of the
bets win, then the bettor receives a payout that is substantially higher,
sometimes even 10 – 1.
Teaser bets allow the bettor to combine bets on two or more different games together. He can adjust the point spread for both games, but in the event of a win he will realize a much lower return.
Run Line, Goal Line, Puck Line Bets
These are wagers that are offered as an alternative to straight up or money line prices for baseball, soccer or hockey respectively. These bets feature a point spread that is fixed, offering a higher payout for favorites and lower payouts for underdogs.
These bets predict a future accomplishment by a player or a team. For example, one might bet that a certain team will win the National Football League’s Super Bowl in the upcoming season. The odds for bets like these are generally expressed in a ratio of units paid to those that are wagered.
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