Whether you’re new to the world of sports betting, a middle of the road gambler or a seasoned vet, there are many betting options when it comes to trying to beat the books. Today, we are going to look at three of those betting options; betting a parlay, betting a teaser and when to buy points.
With the NFL and College Football season upon, let’s take a look at one of the most popular forms of sports wagering in what is known as a Parlay. Not only is parlay betting an effective form of betting on the NFL and NCAA Football circuit but can be used on other sporting events as well.
WHAT IS A PARLAY: With a parlay wager through a sportsbooks or bookie, bettors have an option to wager that two or more point spread, over/under or moneyline bets will produce a winner, thus earning a bigger payout if all picks win versus if one were to be bet individually.
One great thing about parlays is the potential return on your money if a winner. Taking a look at one of our many sportsbooks here at Wonder Punter, the average odds for parlays are +260 for a two-team parlay and +600 for a three-team parlay wager. An example of a straight bet versus a parlay bet;
Straight Bet/Parlay– $55 to win $50 on Dallas (-3) -110 and $55 to win $50 on Oakland (+3.5) -110 where both teams won would net a $100 profit on two straight bets. However, let’s take that same bet but as a two-team parlay where both teams won and you would profit $260 with a standard +260 from the sportsbooks.
Sportsbooks will give you a bigger payday on a parlay wager because they know the bettor must be perfect on their selections. If a bettor were to go 1-1 on the above games with two straight bets, they would only lose $5, but if they went 0-2, they would lose $100. Now, on a three-team parlay, a bettor would need to go 3-0. Remember, lose just one game on a parlay and it’s a losing bet. Keep in mind that, though, a winning parlay can be profitable, going that route on a consistent basis might not be wise when it comes to long term profitability but are definitely fun from time to time.
One last note to be aware of is it is important to understand there are certain types of parlays that won’t be accepted at sportsbooks such as Correlated Parlay; this is when a parlay directly correlates two events of a game; EX: wagering on a team to win both halves of a game. A bettor, however, may bet on a team and the over/under of the same game as a parlay wager.
Those of us that are accustomed to sports betting when it comes to football and basketball have seen it many times when we see a team we like but are not excited about the point spread the sportsbooks have laid out for us. Maybe your favorite sportsbook isn’t giving you enough points or has you giving up too many to feel confident in putting down a wager?
Well, this is where the Teaser comes into play as a bettor to help get an advantage over a sportsbook. When it comes to teasers, they will vary by different sportsbooks, but taking the NFL and NBA as our example, common varieties are to select two or three teams. An NFL teaser will have lines of 6, 6.5 or 7 points, while NBA teasing lines are 4, 4.5 or 5 points.
So what does this all mean? As an example, let’s take two NFL teams in the Dallas Cowboys and Oakland Raiders; Dallas is -4.0 and Oakland +6.0. You might like the Cowboys to win but feel it will be close like by a field goal, or maybe you see the Raiders losing by a touchdown… what do you do? This is a good spot to lay a 7-point teaser because now you have Dallas +3.0 and Oakland +13.0. You now have room to breath with Dallas winning or losing the game by 1 or 2 points but still covering the point spread and even more room with the Raiders with their +13.0 points.
Keep in mind that teasers will move the betting lines more in your favor but aren’t as favorable as a parlay when it comes to the books. Most sportsbooks will pay +260 for a two-team parlay but only give you -130 on a two-team teaser; this is because winning a teaser is easier than winning a parlay. Whereas parlays use the same lines that sportsbooks put out, a teaser gives you more say so on the point spread, even to the point where both sides of your teaser win.
Teasers are a great option to use if needed and can be a great asset to add to your betting skills when the right plays call for it.
Most common when wagering on football and basketball, the art of buying points is used to buy points on point spread bets when it comes to the NFL, College Football, the NBA and College Football. Many sportsbooks, including those offered here at Wonder Punter will allow bettors to buy points where you can give away points on the favorite or get more points on the underdog. If this is a tactic you wish to use, keep in mind the sportsbooks will allow a bettor to do this at a price of 10 percent per each half point on how you decide to move the line.
Buying just a half point of the spread could make the difference between avoiding a loss with a push, or a push and a win when it comes to football and basketball, but keep in mind, it is important to understand and know the rules of buying points with each sportsbook.
Here are some key points when it comes to sportsbooks and buying points on the NFL;
Sportsbooks that offer point buying for football games typically will allow a bettor to buy up to three points on a line; the same for basketball. However, when it comes to the NFL, it’s interesting because the most common winning margin on a professional football game is three points; meaning if you want to move a team on or off a 3-point spread, it’s going to be more out of your pocket as sportsbooks will charge a premium of 25 percent for each half-point you wish to move. The same holds true for buying points to move a line from a 7-point spread. The premium price is usually the same as it is for a game having a 3-point spread; this is because in the game of professional football, seven points is also a common winning margin. Three and seven are considered key numbers in the NFL due to the unique scoring system.
In closing, remember a bettor can buy half or full points up to three points to move the betting odds more in your favor but it will come at price ranging from 10 percent to 25 percent premium pricing depending where the point spread is for the game. Example: a spread of -5 (-110) with a half-point bought will now be (-120) or a full point (-130) with a 10 percent price. At a 25 percent premium, that same -5 (-110) will now be (-135) at half a point bought.