How to Become a Bookie 2 – Betting Types 1
Here we explain what straight bets and parlays are.
Betting Types: Straight Bets
This is a single bet that is made against a single possible outcome of a game.
A straight can be made on the money line, where you are betting on winning the game, the spread, where you are betting on the margin of victory.
Or the total, where you are betting on the combined scores of the two sides from a sporting event.
A parlay is a combination of different straight bets on a single large wager.
The more selections on a parlay, the bigger the payout.
Here is a table, showing standard parlay odds based on a price of minus one ten.
If the prices vary in the parlay, odds will be calculated and shown when placing the wager.
For the parlay to be a success, all picks must win.
In the example below, both the Cavs and the Thunder won their games by the right amount of points, and the player won the bet.
On the other hand, if any of the picks on the parlay fail, the whole parlay is a loss. Here, while the cavs managed to cover the spread, the thunder didn’t and the player lost the bet.
On a two team parlay, a push reverts the parlay to a straight bet, and the payout is reset for the remaining selection.
In this case, the Thunder pushed, and the Cavs won, which turns this bet into a straight wager on the Cavs.
On a parlay made up of more than two teams, the play reverts to the next lower level. For example, a four team parlay becomes a three team parlay, and so on.
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