Sportsbook Betting Rules
- Typically a sports book will list 30 or more individual golfers along with a field (all others) option, at various odds. For example, Tiger Woods may be listed at 2-1, Tom Lehman at 25-1, Bob May at 100-1, etc. If you bet $10 on Lehman at 25-1 and he goes on to win the tournament, you win $250 plus your $10 back, for a total payoff of $260.
- Delaware Lottery Sportsbook and Sports Lottery Retailer Wagering Rules apply to parlay cards unless otherwise stipulated on the cards. The Delaware Lottery reserves the right to add, delete, or change its Wagering Rules and/or payoff odds at any time. Note: Wagers are not available for Delaware based teams.
- FOOTBALL RULES Bets are considered official after 55 minutes of play. If 55 minutes of play is not completed, a bet on the team is treated as no action, and a parlay bet will be reduced accordingly. Bets on 1st, 2nd halves and all quarters will be considered action upon completion of the period in question.
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Betting on sports can be intimidating. Thanks to our helpful guides, you already know where to bet, and how to read and understand lines and odds at your sportsbook. But before you dive into the world of sports betting, make sure you know what rules you have to follow at your sportsbook. We’ve been betting on sports since the early 2000s, and we know the ins and outs of how to lay a bet that counts.
Sports Wagering has been authorized pursuant to P.L. On this page you will find the Sports Wagering Law, the Emergency Rules for Sports Wagering Promulgated by the Division. General Sports and Event Betting Rules 1. All sporting and non-sporting events must take place on the date and at the site scheduled - unless otherwise specified. Time changes within a day do.
In this article, we outline all the important information you should know before placing a bet at your sportsbook of choice. The last thing in the world you would want is to have not followed an easy rule, and miss out on your winnings!
Read on to learn more about when your bet becomes official, what procedural policies most sportsbooks follow, and standard terms and conditions of your bets.
Rest assured, these rules and policies are not complicated.
Sportsbooks are legitimate businesses, and they have to follow specific rules to stay successful in the market; these fair rules are ultimately designed to keep their customers happy.
Specific rules vary from sportsbook to sportsbook. So we’ve compiled a list of rules that will be in effect at whichever sportsbook you bet at.
The Fun Part: Odds and Lines
1. All prices and the odds attached to them are subject to change.
With so many lines on so many different events, sportsbooks make mistakes. It’s easy to forget, but regular ol’ bookmakers behind sports betting sites are humans after all. In the event of a clear error on the posted line, scheduled time, or max wager, any wagers will be voided and deemed a “no action” wager. All money will be credited accordingly. Bettors betting on a mistakenly lopsided line will have their money returned.
2. Games have to be played on the day they are scheduled.
Sportsbooks base their available odds on a particular set of factors. If a game is postponed or rescheduled for any reason, your sportsbook will have to recalculate their odds. This is because the circumstances affecting a winner or a loser of a game are likely to change.
3. All bets have to be placed and accepted before the commencement of the game or event that is being bet on.
Bets placed or received after the start of the game or event will be voided. This rule is relatively self-explanatory. If your bet somehow gets through after the game has started, your bet will be voided. Sportsbooks aspire to create a fair playing field for everyone.
4. You are generally restricted from betting on both the moneyline and the point spread of a particular game, both individually and within the same parlay.
Multiple bets are not accepted where the outcome of one part of the bet contributes to the outcome of another. These are called correlated plays. If sportsbooks allowed this, their exposure to any one event would be more significant than they want.
5. You are generally not allowed to bet on the point spread and the total of the same event.
See explanation above. Betting on correlated events is a no-no in the world of sports betting.
6. The outcomes of Major League Baseball games are usually determined official after 5 innings of play.
Sometimes, games are determined in 4½ innings if the home team is leading. If a game is subsequently called off or suspended mid-game, the winner is determined by the score that is listed after the last full inning. This is unique because NFL, NHL, and NBA games are not called off early, except in the case of emergency. In the rare fact that an NFL, NHL, or NBA game is incomplete or called off early, the result will more than likely be a “push.”
7. Generally, if you are betting on the “next” event, all wagers on that index will be no-actioned when the game is over.
If you are betting on the “next” event to take place, and the game ends, then your bet will be no-actioned. You will get your money back, and the bet is treated as a “push.”
8. If the odds for a bet have changed significantly between the time the bet is submitted and the time the bet is confirmed, your sportsbook will reject the bet.
If this happens, you will be asked to reconfirm the bet against the updated odds. The principle behind this is just like to the one we mentioned above, in regards to sportsbooks trying to create equal opportunities for all bettors. Sportsbooks do not want to see people exploiting technical loopholes. This rule only pertains to live betting.
The Nitty Gritty: Procedural Terms and Conditions
1. All clients are required to be 18 years of age.
This a legal requirement, from all sportsbooks.
2. Bets are able to be placed as soon as funds deposit successfully in members’ accounts.
As soon as your sportsbook has confirmed your funds, you’re ready to start betting!
3. Third-party deposits are largely prohibited.
This is self-explanatory. Sportsbooks do this to protect themselves from fraud or any potential legal action from third parties. If you are depositing, you will have to do so with funds that belong to you.
4. Verification/settlement before withdrawal.
In nearly every case, you will have to verify your identity before withdrawing funds from your sportsbook. Sportsbooks do this to make sure that money is going to the right person, and to protect themselves from any fraudulent activity.
5. All accounts are private and confidential.
Sportsbooks will not share any information about you or your history with a third party.
6. Sportsbooks will reserve the right to accept, limit, or refuse any wager.
If a sportsbook has a suspicion you are engaging in any fraudulent behavior, they have the right to block any betting-related activity.
7. Sportsbooks reserve the right to restrict the maximum wager before they agree to accept any bet.
Sportsbooks do this to mitigate their risk. The last thing they want to is to take on too many bets at once and be unable to pay out winners.
8. You can not bet more than what is in your account.
This is sports betting, not the stock market. You can’t bet on margin!
9. No wagers can be canceled once confirmed.
Once you’ve bet, you can’t withdraw it! For this reason, you should always make sure that you are 100% sure on what you’re betting on. However, sportsbooks will let you bet on the opposite side of an event to act as a hedge.
10. There will a maximum amount available to win on certain bets; sportsbooks will place limits.
In our experience, sportsbooks allow a maximum of $100,000 USD or equivalent winnings on any one event. This applies to any wager, including parlays and teasers.
11. It is your responsibility to report your transactions to the appropriate taxable jurisdiction.
Your sportsbook will do a lot for you, but it won’t pay your taxes. Sportsbooks cater to customers all over the world, so make sure you do your required diligence on what the legal rules and regulations are in your home country.
12. A sportsbook is not responsible for clients who disclose their password and account number to other parties.
Keep your account safe! Make sure to enable two-factor authentication, and keep your password and information in a safe place. After all, it is real money that is in your account.
13. Only one account is allowed per person, and multiple accounts will be voided.
It is a familiar refrain by now, but sportsbooks do this to protect themselves from fraud. They want to reduce their exposure to unfair bets, in order to be able to continue paying customers who are abiding by the rules.
Teaser Betting Rules
by Trevor Whenham - 12/31/2009
Top 10 Online Betting Sites
Teasers aren't the first tool that most serious bettors look at to make a profit. In the right situations, though, they can be both profitable and a lot of fun. One reason why bettors don't always embrace them is the confusion over teaser betting rules. The rules are at least a little bit different at each different sportsbook, and those seemingly small differences can make a big impact on the bottom line if you aren't aware of them. Here's a look at the important teaser betting rules that you need to be aware of.
Before we get to the nitty-gritty, we really should look at a definition of teasers. A teaser, like a parlay, is a bet on multiple games - two or more - and you must be correct in all of the games in order to cash your ticket and make a profit. They are most common in football and basketball - the sports most often bet against the spread. What makes teasers special, though, is that you get to adjust the point spread. A typical football teaser, for example, is six points. That means that you get to take six points off the spread of a favorite, and add six points to the spread of an underdog. For example, a -10 favorite would become -4 in a six-point teaser, while a +10 underdog would be +16. Now for those teaser betting rules:
Number of points - The first thing you need to be aware of is the number of points added to each game. The standard is typically six in football and 4.5 in basketball, but those can vary widely. As any sports bettor knows, even just a half point in a spread can make a big difference. You can find football teasers as low as five points and as high as 20, and basketball anywhere between four and 16. You need to know the number of points you have, and make sure that the adjusted spreads are favorable for you.
Payout - The payout in a teaser is fixed - it doesn't change based on the teams involved. Each sportsbook sets their own payouts, though, and they can vary widely. When you are making a teaser bet you need to shop around to find the best price for the number of teams you are betting. Some books generally have better teaser payouts than others, but they won't necessarily have better payouts for all of the possible teams involved. Over the long run a difference in payout can obviously make a big difference to the bottom line, so looking for the best payout is crucial.
Ties - This is the single biggest rule that you need to be aware of - how the book handles ties. There are four different ways that a book can handle it if one of your games ends exactly on the number. Some books treat a tie as a win. Others reduce the number of teams in the teaser by one - if you bet a four-team teaser and have a tie and three wins then it will pay off like a three-game teaser. Others will treat a teaser with a tie as no action - they'll return your bet - as long as you win your other bets. Finally, some books will treat a tie as a loss. Each of those is a very different situation, and can affect your return significantly. You need to be aware of what the book offers, and make sure that it fits your needs. There isn't necessarily one situation that is better than another, but you need to make sure that the potential return adequately reflects the risk you are taking.
Maximums - There are two potential issues you may need to consider here. First, the maximum amount you can bet on a teaser may to too low for you. Many books minimize their risk in teasers by making the maximum bet much lower than it is for a straight bet. Some books also put a maximum on the amount they will pay out for a teaser. That could mean that a large bet on a teaser with several teams involved which should pay out for more than the maximum will return less than the stated odds. Over the long term that's a real problem.
Different online books have different strengths when it comes to teasers. Here's a couple of sportsbooks that do well on many fronts, though:
5Dimes - 5Dimes offers a wide range of teaser options, with football teasers available from everything from five points to 20, and basketball from 4.5 to 16. They also offer two different options for ties - they can either be counted as winners, or the number of teams in the teaser can be reduced by one. The reduce option pays a little better than the win option. 5Dimes also offers prices that are competitive with most books in most situations, and better in many.
Bookmaker - Though Bookmaker offers fewer options than 5Dimes, and is less generous with ties (they treat them as no action if the rest of the bets are a win), their prices are attractive when you are involving more teams.