parlay betting
Parlay Entertainment betting on online bingo. Peter Evans. Financial Post. August 24, 2005. There have always been investors who aren't afraid to roll
Betting on the NFL with Football parlays. ... The parlay bet wins if every one of the individual wagers win
basketball and football, parlays are considered bad bets, paying off at lower odds than they should. But that isn't the case in baseball
Bringing in a 3 team parlay is not as easy as it sounds; that's why I like to round robing my bets and cover my.. you know
Parlays are a very popular kind of bet – they have a good potential for big payoffs compared to the size of the wager, and they are quite a simple
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parlay betting
Spread betting is any of various types of wagering on the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, which is known as money-line betting. A spread is a range of outcomes, and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in the UK in recent years, with the number of gamblers heading towards one million.[1] As with all gambling, however, spread betting carries a high level of risk.[2] In the UK, spread betting is regulated by the Financial Services Authority rather than the Gambling CommissionThe general purpose of spread betting is to create an active market for both sides of a wager, even if the outcome of an event may appear a priori to be biased towards one side or the other. In a sporting event, for example, a strong team may be pitted against a historically weaker team. Persons betting on the event normally would be likely to favor the better team, to such an extent that there would be very few, if any, betting on the team perceived to be worse.
The use of a "point spread" evens out the market towards an equal number of participants on each side of the wager. This allows a bookmaker to make a market by accepting wagers on both sides of the spread. The bookmaker charges a commission and acts as the counterparty for each participant. As long as the number of participants on each side is roughly equal, the bookmaker is unconcerned with the actual outcome; profits instead come from the commissions.
Spread betting was invented by Charles K. McNeil, a mathematics teacher from Connecticut who became a bookmaker in Chicago in the 1940s.[4] The idea became popular in the United Kingdom in the 1980s. In North America, the gambler usually wagers that the difference between the scores of two teams will be less than or greater than the value specified by the bookmaker. An example:
The bookmaker advertises a spread of 4 points in a certain game; If the gambler bets on the "underdog", he is said to take the points and will win if the underdog's score plus the spread is greater than the favourite's score. The eventual score is Underdog 8, Favourite 10: 8 + 4 > 10, so the gambler wins; The eventual score is Underdog 8, Favourite 13: 8 + 4 <> 4, so the gambler wins; The eventual score is Underdog 8, Favourite 10: 10 - 4 < 8, so the gambler loses. Spreads are frequently, though not always, specified in half-point fractions to eliminate the possibility of a tie, known as a push. In the event of a push, the game is considered no action, and no money is won or lost. However, this is not a desirable outcome for the sports book, as they are forced to refund every bet, and although both the book and its bettors will be even, if the cost of overhead is taken into account, the book has actually lost money by taking bets on the event. Sports books are generally permitted to state "ties win" or "ties lose" to avoid the necessity of refunding every bet.
A teaser is a bet that alters the spread in the gambler's favor by a predetermined margin, often six points— for example, if the line is 3.5 points and the bettor wants to place a teaser bet on the underdog, he takes 9.5 points instead; a teaser bet on the favorite would mean that the gambler takes 2.5 points instead of having to give the 3.5. In return for the additional points, the payout if the gambler wins is less than even money. At some establishments, the "reverse teaser" also exists, which alters the spread against the gambler, who gets paid at more than evens if the bet wins.
In addition to the spread bet, a very common "side bet" on an event will be the total (also called over/under) bet. This is a bet on the total number of points scored by both teams. Suppose the Cowboys are playing the Giants and the total is set at 44.5 points. If the final score is Cowboys 24, Giants 17, the total is 41 and bettors who took the under will win. If the final score is Cowboys 31, Giants 24, the total is 55 and bettors who took the over will win. The total is popular because it allows gamblers to bet on their overall perception of the game (e.g., a high-scoring offensive show or a defensive battle) without needing to pick the actual winner.
In the UK, these bets are sometimes called spread bets, but rather than a simple win/loss, the bet pays more or less depending on how far from the spread the final result is.
Example: In a soccer match the bookmaker believes that 12 or 13 corners will occur, thus the spread will be set at 12-13.
A gambler believes that there will be more than 13 corners, and 'buys' at £25 a point at 13. If the number of corners is 16, the gambler wins (16 - 13) = 3 x £25. If the number of corners is 10, the gambler loses (13 - 10) = 3 x £25. A 'sell' transaction is similar except that it is made against the bottom value of the spread. Often "live pricing" will change the spread during the course of an event, allowing a profit to be increased or a loss minimized. In North American sports betting many of these wagers would be classified as over-under (or, more commonly today, total) bets rather than spread bets. However, these are for one side or another of a total only, and do not increase the amount won or lost as the actual moves away from the bookmaker's prediction. Instead, over-under or total bets are handled much like point-spread bets on a team, with the usual 10/11 (4.55%) commission applied. Many Nevada sports books will allow these bets to be used in parlays, just like team point-spread bets, making it possible to bet, for instance, "the Packers and the over," and be paid if both the Packers "cover" the point spread and the total score is higher than the book's prediction. (Such parlays usually pay off at odds of 13:5 with no "vig," just as a standard two-team parlay would.)
In 2004 Cantor Fitzgerald launched the spread betting exchange Cantor Spreadfair, which matches up spread bettors opposing views and allows them to bet with each other. This removal of the faceless bookmaker allows clients to bet at the spread size and monetary level that they request, and in turn this creates a tighter spread margin, which in turn allows users to lose less and win more than with the non-exchange spread-betting firms.
The mathematical analysis of spreads and spread betting is a large and growing subject. For example, sports that have simple 1-point scoring systems (e.g., baseball, hockey, and soccer) may be analysed using Poisson and Skellam statistics.
1985 - College Football - Oregon State beats Washington, 21-20. The Huskies were 37-point favorites. 1998 - College Football - Temple, a 35.5 point underdog, beats #14 ranked Virginia Tech 28-24 on the road. At the time, the Hokies were 5-0 while the Owls were 0-6. 2007 - College Football - The Syracuse Orange, 36.5 point underdogs, beat #18 ranked Louisville 38-35 at Louisville. 2007 - College Football - The Stanford Cardinal, 41 point underdogs, beat the #2 ranked USC Trojans 24-23 at LA Coliseum. By far the largest part of the official market in the UK concerns financial instruments; the leading spread-betting companies make most of their revenues from financial markets, their sports operations much less significant. For example, in the figures for the second half of 2006, the income derived from financial spread betting at IG Group, was £29.3m, compared to £3.8m in sports.[citation needed]. Other Major companies in the sector are CMC Markets and MF Global Spreads. Financial spread betting in the United Kingdom closely resembles the futures and options markets, the major differences being
the 'charge' occurs through a wider bid-offer spread; spread betting has a different tax regime compared with securities and futures exchanges spread betting is more flexible since it is not limited to exchange hours or definitions, can create new instruments relatively easily (e.g. individual stock futures), and may have guaranteed stop losses (see below); and the trading is off-exchange, with the contract existing directly between the market-making company and the client, rather than exchange-cleared, and is thus subject to a lower level of regulation. Although the spread betting companies themselves are some of the most regulated entities in the City of London. Unlike fixed-odds betting, the amount won or lost can be unlimited as there is no single stake to limit any loss. However, it is usually possible to negotiate limits with the bookmaker:
A "stop loss" will automatically close the bet if the spread moves against the gambler by a specified amount. A "stop win" will close the bet when the spread moves in a gambler's favour by a specified amount. Spread betting has moved outside the ambit of sport and financial markets (that is, those dealing solely with shares and futures), to cover a wide range of markets, such as house prices.[5]
In a falling stockmarket, financial spread betting can also be used by investors as a means of hedging against predicted losses in a portfolio of shares
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