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Sports Betting 101
POPULAR SPORTS BETS
There are many ways to get in on the sports betting action at The Rez. Here are an easy-to-follow video and guide on placing the most popular sports bets.
A straight bet is an individual wager on a game or sporting event. There are three types of straight bets: Money Line, Point Spread and Total or Over/Under.
A Money Line bet simply involves picking one of two teams to win the game without using the point spread.
To win a Point Spread bet, the favorite must win by more points than it’s expected to win by (the number value as listed by the sportsbook.)
Total or Over/Under
The Total Bet concerns the combined score of the two teams at the end of a game, as set
by the sportsbook. When placing over/under bets, you are betting either the game total
will go over or under the designated combined score.
Parlay Bets are wagers on multiple games in a single bet. All chosen bets must win for the parlay to pay out. The benefit of the parlay is the pay out – you can bet a small amount and win big. If one of the games results in a tie, it’s called a “push” and your parlay ticket is still “live”.
A Teaser Bet is similar to a parlay in that you can bet on at least two games. Teasers allow you to shift a point spread in your favor by certain designated amounts. This gives you a better chance of winning yet the payout is lower.
Futures Bets are bets placed on a sporting event that will take place at a later date.
Round Robin Bet
A Round Robin Bet is a series of smaller parlay bets on multiple games. For example, a three-team Round Robin is made up of three two-team parlay bets – Team A vs. Team B, Team A vs. Team C and Team B vs. Team C.
Proposition Bet or Prop Bet
With a Prop Bet you can bet on a single event within a game. You can place a prop bet on what the score will be at halftime or if the game will go into overtime, for example.
In-play Bets are bets you can place on the Money Line, Point Spread or Total after a game or event has started.
SPORTS BETTING TERMS
Here is a list of the most common sports betting lingo you can use to talk – and play – like a pro!
- Sportsbook – An establishment that accepts bets on the outcome of sporting events
- Bookmaker – The person or establishment that sets odds and/or points
- Wager – A bet on a sporting game
- Vigorish or Vig – The commission a sportsbook charges on each bet
- Ticket – The record of your wager
- Action – Any kind of sports wager
- Point Spread – The number of points the favorite is expected to win by
- Opening Line – The first odds or point spread for a specific sporting event
- Line – The current odds or point spread of a specific sporting event
- Closing Line – The odds or point spread when the specific sporting event begins
- Cover – Winning by more than the point spread
- Limit – The maximum bet amount before the bookmaker changes the odds and/or points
- Off the Board – When bets are no longer being offered on a specific sporting event
- Push – When a point spread wager lands exactly on the line offered by the sportsbook
- Pick ’em – An instance in which neither team is favored. The winner of the game is also the spread winner
- Straight Up – A wager when you only need a team or individual to win a specific sporting event without regard to the point spread
- Underdog – The team or individual that is less likely to win than the favorite
- Hook – A half point. If a team is a 3.5 point underdog they could be referred to as a “three and a hook”
FREQUENTLY ASKED QUESTIONS
Q: How old do I have to be to place a bet at The Rez?
A: You must be 21 years or older.
Q: What is the maximum amount I can bet?
A: The Rez will determine minimum and maximum wagers on all sports events.
Q: Can I place a bet for someone else?
A: No guest may wager or attempt to wager on behalf of another person or entity.
Q: What kinds of sporting events can I wager on at The Rez?
A: You may place bets on the following sporting events:
- NFL Football
- College Football
- MLB Baseball
- NBA Basketball
- NHL Hockey
- Boxing & MMA
- Auto Racing
- PGA Golf
Q: Where do I collect my winnings?
A: To collect your winnings, return your ticket to the betting window or the main cashier cage.
Q: What happens if a line changes after I bet?
A: Once your bet is placed, you’re locked into the line listed on your ticket.
Q: Can I bet on a game after it starts?
A: After a game begins all full-game wagers are locked. However, there may still be other in-play options to bet on.