How Sports & Event Betting Works

You know sports but when it comes to sports betting, do you know when to take a shot or when to call a time-out? Betting on sports is a fun way to be a part of the action without breaking a sweat. Let’s investigate sports betting to understand how it works so you can play like a champ.

Understanding the market

Sport Select, NT & NU Lotteries' only sports betting platform, offer a range of betting options on all sorts of outcomes. The offerings include:

PRO•LINE

In this mode, you simply bet on which team will win or if it will end in a tie. The more likely a team is to win, the lower the odds. Each sport have a different set of rules it follows regarding ties.

Props

Props is like a game within the game. Two players go head-to-head in a specific challenge. Choose which of two players listed in the event, going head to head, will win, or whether it will be a tie.

Over/Under

With over/under you aren’t picking a specific team, instead you are wagering on the total points scored by both teams combined. The line will predict a number for each game, period or half. You will be betting on whether the combined sore is over or under that total.

Pools

Pools lets you compete against other sports fans in the West by predicting the outcome of every game on the Pools card. If you get the most correct, you win or share the prize pool for that card.

Point Spread

If you bet on a point spread, you’re betting that a result is going to happen by a certain amount. It’s not enough that the team you bet on wins—they have to win by more than the point spread. For example, if the spread is -2.5, the underdog beats the spread if they win, tie or lose by only one point or by two points.

Futures

A futures bet is a bet on the outcome of a series of matches, such as an entire season or tournament. For instance, you could place a futures bet on the winner of the Stanley Cup, the US Open golf tournament or MVP of a certain league.

For more information on these games, see the Sports Select Playbook.

Understanding decimal odds

With decimal odds, you simply multiply the amount of your bet by the value of the odds to determine how much you stand to win—though your winnings include the amount of your bet. If two outcomes are listed, the one with the lower number is more likely to happen.

For example, if the odds given are 2.00 and you bet $10, the calculation is:

The odds (2.00) x your bet ($10) = your payout ($20)

Remember that your payout includes the amount you bet. Your profit on this wager is $10.

To determine your potential winnings on a parlay bet of multiple outcomes, you simply multiply the values of all the odds, then multiply that by the amount of your bet.

For example, if the odds of your parlay bet on two outcomes are 1.50 and 3.00, and you bet $10, the calculation is:

The odds for outcome one (1.50) x the odds for outcome two (3.00) x your bet ($10) = $45

Tips for safe sports betting

Play for fun, not to make money

If you gamble, the result is never certain and losing is always a possibility. So, look at gambling as entertainment, like catching a concert or a movie, not a source of income.

Not every shot is a goal. Not every bet is a winner. Set a budget and stick to it.