We recently reviewed 5Dimes Sportsbook, and after having given our players a preview of the types of wagers offered, we were asked specifically to explain these wagers. We are happy to do so.
What are the Types of Wagers?
There are: Straight Bets, Totals, Parlays, Teasers/Progressives, Pleasers, If-Bets, Rolling If-Bets, Round Robins, Reverses, Asian Handicaps, Office Pools, and Point Buying. Let’s take these one by one.
- Straight Bets: This is the most common wager in sports betting. You simply pick the team you think will win the game.
- Totals: Here, you are betting on whether the total points scored in a game will be higher or lower than the points posted.
- Parlays: This consists of a group of bets consisting of either spreads/money lines or totals placed into one bet. Here, the payoff depends on how many teams you select and the odds given on those teams.
- Open Parlays: These bets are made by phone or online. The open part means that you decide to leave one or more bets open. You can make your decision on who to bet on later by calling or by betting online.
- Teaser: This is a group of straight bets or totals made into one bet. Thus, the line bet is in your favor by the point totals of the teaser.
- Progressive Teasers: This operates the same way as a teaser. The only exception is that is a payout for making an incorrect selection. This option is only available for online wagering.
- Pleasers: This consists of football and/or basketball straight bets that are totaled into one bet. Unlike the teaser, the line bet is against your favor by specific points.
- If-Bets: An If-Bet is a chain of bets that will be carried over to the next bet as long as the player wins the initial bet.
- Rolling If-Bets: This bet consists of a straight, parlay or teaser wager made depending upon the outcome of a wager that that was already and is still pending.
- Round Robin: This is a bet in which you box a parlay. 5Dimes Sportsbook will automatically calculate the many combinations for you.
- Reverses: A reverse bet is a set of if-bets that go ahead or in reverse order.
- Asian Handicaps: This bet is usually placed for Soccer games. I can be used for other sports bets as well.
- Office Pools: This is a 100% payout to the winner.
- Point Buying: By buying points, you move the point spread in your favor depending upon the number of points you buy.
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