Sports Betting 101

Sports Betting Guide for Beginners

WynnBET Staff
Jump right in with WynnBET's Claudia Bellofatto to learn the ins & outs of the WynnBET app!
Jump right in with WynnBET's Claudia Bellofatto to learn the ins & outs of the WynnBET app!
facebooktwitterreddit

So you're new to sports betting? We'll break down types of wagers and how they work to give you all the tools you need to enjoy everything sports betting has to offer!

Basic Betting Terms You Need to Know:

1. Straight bet

The most common sports bet, a straight bet, is a wager specifically dependent on only ONE outcome (can be a moneyline bet, against the spread, total etc. as long as it is only a single bet on the bet slip).

Example: If you choose Green Bay to beat Chicago -4 points (-4), and that’s the only wager on your slip, that's a straight bet. A straight bet is generally made at 11/10 odds, meaning you would risk $11 to profit $10.

2. Point spread

The margin assigned by oddsmakers that is factored into the final score of a wager, either added to the score of the underdog team, or subtracted from the favored team's score.

Example: Minnesota is a 4.5-point favorite over Miami. This means if you place a straight bet on Minnesota, they will need to win by five points or more for your wager to be a winner. If you chose Miami, they would need to lose by four points or fewer — or for Miami to outright win — for your wager to win.

3. Moneyline

A dollar-value wager placed on a sporting event where a point spread is usually not assessed. Values are represented by a plus or minus sign and based on betting units of 100.

Example: Minnesota is -210 to beat Miami, and Miami is +180 to win. In that scenario, you would have to risk $210 to profit $100, but Minnesota simply would need to win the game, with no additional point spread assessed. If you were to bet Miami, you would risk $100 to profit $180, but Miami would also have to win the game outright and would not benefit from any point-spread boost.

4. Total (Over/Under)

A wager based on the number of COMBINED points/runs/goals scored in a game. A bettor must choose "over" (whether more points will be scored) or "under" (fewer total points scored) than the assigned number for that game.

Example: Kansas City and Pittsburgh have a total of 9.5 runs scored in a baseball game. If you select the over, the combined score must equal 10 or greater for winning wager (9-4, 8-2, 6-5, etc.) If you select the under, the final score, including any extra innings played, must be nine or fewer. (5-3, 7-0, 4-1, etc.) Over/under wagers are also generally made at 11/10 odds (risking $11 to profit $10).

5. Parlay

A bet involving two or more wagers, where all wagers must win. Parlays are naturally harder to win than a straight bet, but the payouts are much greater. Point-spread parlay payouts are based on the number of teams. A standard two-team parlay pays 13-to-5 odds, so risking $10 on two winning sides or totals would profit $26. A three-team parlay (often called a three-teamer) returns 6-to-1 odds ($10 would profit $60). So, despite being harder to win, you need to win much less often to stay profitable.

The WynnBET app will show you the potential payouts based on each parlay before you place the wager, regardless of how many teams you choose.

In moneyline parlays, the full winning amount from each step, or "leg" of the parlay is carried over to the next wager. Example: If you have a two-team parlay where the first leg is a +120 moneyline underdog and the second is an even-money +100 proposition, and you bet $10 on it, the first winner would profit $12, and that $22 (your $10 bet plus profit) would be applied to the second leg of the parlay at even money, and profit $22. So, your $10 bet would return $44, or a $34 profit.

6. Futures bet

Futures bets are exactly what the name suggests: A wager on a future event, usually involving a player or team to win a major championship in an event that is often months away. The bet is not decided until the event occurs.

7. Prop bets

Proposition bets, more commonly referred to as prop bets, are special wagers usually based on statistics or more uncommon choices than selecting a point spread or over/under.

Props often involve special point spreads or totals, featuring different payouts than the standard 11/10 betting unit, depending on whether the bet is made easier or more difficult to win by the line change. Example, if Iowa is favored to beat Michigan by six points, there could be a prop wager where Iowa is -10 points but pays +190 (risk $10 to profit $19) where Michigan at +10 points would pay -210 (risk $21 to profit $10) because Michigan would have more points in its favor.

Props can also be individual players in a team sport, such as who might score the first touchdown in a game, whether a player might have over or under a certain number of rebounds in a game, whether he or she will score a goal, etc.

Props can also relate to team statistics, such as over or under the number of first downs a team makes in a game, etc. Anything involving a sporting event can be turned into a fun prop wager.

For major sporting events, prop bets can be quite exotic, often crossing into other sports and with unusual point spreads.

Example: For a major football championship, there may be prop bets where a player's statistics, (such as receiving yards, total pass attempts, etc.) are compared to totals from a player's statistics from another sport happening near the same time (a basketball player's total number of rebounds, points and assists combined, a golfer's fourth-round score, etc.)

8. Teaser

A teaser is a bet involving multiple teams like a parlay, but where you reduce your payout in favor of gaining more points to increase the likelihood of winning each game. The number of points applied to your choice can vary. For a football teaser, you can choose a six-point, 6.5-point or seven-point teaser with varying payouts.

Example: Los Angeles is a 9.5-point favorite over Atlanta. If you choose Los Angeles on a six-point teaser, it now only has to win the game by more than 3.5 points for you to win. If you choose Atlanta, instead of starting at +9.5 points, they will have to stay within 15.5 points for you to win. You gain six points in either direction.

With a teaser bet, it's possible that you could be a winner regardless of what side you choose. Using the example above, if Los Angeles were to win 30-24, that six-point margin of victory would mean whether you "teased" Los Angeles at -3.5 points, or Atlanta at +15.5 points, your bet would be a winner. That's why payouts are lower for teasers than standard parlay wagers.

9. Round Robin

A round-robin bet is a parlay or teaser with three or more games, or "legs," where you are actually betting multiple smaller combinations involving your selections instead of lumping them into one must-win-all wager.

Example: You choose teams A, B and C to win their games against teams D, E and F, respectively. In a three-team standard parlay, teams A, B and C must win for you to collect. However, in a round-robin wager, you are actually betting three two-team parlays involving your three selections: A two-team parlay where teams A and B must win, a two-team parlay where teams B and C must win and a two-team parlay where teams A and C must win. If any two of your three teams win against the spread, you will win at least one of these bets. If all three win, you win each of the three two-team payouts.

With a four-team round-robin, you can choose whether to bet the six different two-team parlay combinations, the four different three-team combinations, or both.

How to use the WynnBET app

Using the WynnBET app is easy. First, select your state (Arizona, Colorado, Indiana, Michigan, New Jersey, Tennessee, Virginia), then download it for free on Google Play or the Apple Store and sign up for an account. Funding your account can be done securely through your bank.

Once your account is funded, just open the app and choose the sport you wish to wager on, follow the menu of games and tap on a game to see what betting options are available. When you have made a selection, the wager will be saved much like in an online shopping cart. Then you can move around to find other wagers, or go to the page to place the wager(s), where you can play them as straight bets, parlays, etc. And then ... GAME ON!


Looking for information on a specific sport? Here’s your sport-by-sport breakdown:

Football

Strap on your helmet ... There are lots of exciting ways to bet on football using the WynnBET app.

Standard football wagers include straight bets, parlays, teasers (6, 6.5, and 7-point teasers are available), round robins, over/unders, first-half and halftime wagers. Also, many games feature prop wagers including who will score the first touchdown and individual player statistical props.

Futures betting is also available for both college and pro football.

Missed kickoff? No worries – in-game wagering is available on many games within the app.

Basketball

When it comes to betting on basketball, using the WynnBET app should definitely be on your bucket list. College and pro games feature straight bets, parlays, teasers, round robins, over/unders, first-half and halftime wagers on nearly every game.

You'll also find prop wagers on selected games, including many individual player statistical props. You can also find futures bets for college and pro hoops.

Game already under way? No worries – in-game wagering is available on many games within the app.

Baseball

You'll never strike out with the easy-to-use WynnBET app when it comes to making a baseball wager. Choose from moneyline wagers to run-line options and over-unders on every game. You can also make parlays and round robin plays.

Prop bets are also available, including the first five innings (sides and totals), first-inning bets on whether a run will be scored and additional player props on selected games. In-game wagering and futures bets are also available within the app.

Hockey

You won't spend any time in the penalty box when you use the WynnBET app for your hockey action. Moneyline and puck-line wagers are available on every game, along with over/unders. You can parlay hockey games and make round robin wagers as well.

If your goal is for even more fun, prop bets are available on most hockey games, including first-period wagering (side and total) and additional player props on selected games. Futures bets are also available within the app.

Once the puck drops, the action doesn't stop! In-game wagering is available on selected games.

Soccer

The world's most popular sport is always in the palm of your hand with the WynnBET app.

With most soccer matches, you can make straight bets based on moneylines and over/unders are also available. In addition, you can place moneyline bets on the three-way result - whether the game will be won by either team, or end in a draw. Futures betting is also available for certain leagues.

Autos/Car Racing

Does auto racing get you revved up? Betting on your favorite driver is easy with the WynnBET app. You can bet on who will win most major auto races, and in selected events, prop wagers pitting driver vs. driver are available. Futures betting is also available on major races.


Here are some TIPS from our oddsmakers at WynnBET:

Which Sports Are Easier to Win?

Sports like soccer and tennis are generally regarded as easier to bet than most sports because there are fewer upsets and therefore, more predictable outcomes than other sports. Obviously, the moneylines will be higher on these plays but your probability for success is higher as well.

Preparation

Do some research. Google is a sports bettor's friend. Make sure you are aware of injuries or other factors before making a wager. The more knowledge you have, the better equipped you are to make the best choice and give yourself the best chance at success.

Approach

Stay within your comfort zone. Particularly if you are a recreational player, stick with the wagers and sports you enjoy most to make the most of your WynnBET experience. Sure, it's fun to have a little something extra on championship games with exotic prop bets, and that's fine, but you should always play within your means and play the games you like to watch the most.

Betting Responsibly

Always bet responsibly and within your means. MUST BE 21 OR OLDER AND PRESENT IN STATE WHERE WYNNBET IS AVAILABLE.  If you or someone you know has a gambling problem, call 1-800-270-7117.

facebooktwitterreddit