Sports Betting 101 – What Are These Terms and How Do They Work?

sports betting

In the world of sports betting, terms such as Tie, Under, Vigorish, Over/Under, and Parlay are everywhere, but what are these terms and what do they mean? Here, we’ll discuss what these terms mean, as well as the pros and cons of each. And, of course, let’s talk about money! All these decisions boil down to money, so the first step is to decide which tax rate is appropriate for your state and what regulatory body to form.

Tie, Under and Vigorish are sports betting terms

In the sport of football, the terms “over” and “under” are used to make decisions about which team to bet on. Over/under bets are based on a game’s total points scored by both teams. These numbers are calculated by analyzing historical statistics and predicting future results. Other terms used in sports betting are vigorish, or “juice,” and “equity,” which refers to the percentage of winning wagers that the sportsbook or casino takes.

Mixed systems betting

A system bet is a combination of two or more elements. It is usually a better choice for sports betting than traditional wagering. The most basic form of a system bet is the two/three bet. This implies that you will bet on two sporting events with a probability of a draw. The more complex the system, the more elements you must add. You can place mixed systems bets with Parimatch.

Over/Under betting

Those new to sports betting might want to consider Over/Under betting. While the concept may seem simple, it can be difficult to win at this type of bet. While there are winners and losers, the ultimate goal is to make a profit over time. Here are a few tips to help you get started. First of all, do your research. Read over/under records, recent performances, and average scores of teams. This will give you an idea of how much each team is likely to score during a game.

Parlay betting

Sports parlays are combinations of different types of wagers. Usually, four games are held up for a bet during the afternoon. This can result in a big payout, or a complete trashing of your ticket. Parlays are great ways to make a huge profit, but they are not a “sucker bet”. The key to success is minimizing your risk and maximizing your returns. For example, you could place bets on four different teams that have correlated outcomes, such as home wins and loss differentials.

Double-header betting

You can make money on both games by double-dipping. With double-header sports betting, you can stake a $100 bet on a day game and another $200 bet on a night game. If the day game is rained out, your bet will be for the ‘Game 1’ game and the losing team will forfeit their bet. However, there are some restrictions on the double-dip. Here are some of the most common types of double-header betting events.


If you love to bet on games, you’ve probably heard of Over/Un in sports betting. Unlike the totals, however, this betting option is not related to comparing teams. Instead, it uses a computer model to determine the expected winning total of a game. In addition, you can also bet on individual players. For example, Alabama QB Mac Jones was a popular prospect in the lead-up to the NFL Draft. When speculation grew, Mac Jones’s over/under was 3.5. If the Patriots picked him fourth or later, his over/under would win. If the Pats had selected him first or second, it would have won.

Parlay betting on horse racing

Horse racing parlays pay differently than standard sports parlays. A Pick 3 containing three longshots pays more than a Pick 5 that includes three favorites. A Pick 5 is a five-race parlay that requires you to choose five winners before the first leg. Because each horse costs the same amount, the more horses you select, the higher the odds. However, this bet can be very difficult to win. So, it’s recommended that you use caution when parlaying.