Getting Started
Sports betting house rules are available at Sports Interaction and on the Sports Interaction mobile app. Bets on horse racing are not available at Sports Interaction.
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Sports Interaction features a full menu of wagering categories for sports fans! Here's a brief tutorial on four of our most popular betting options.
Point Spread
Want to bet on sports? You won’t get very far without knowing what a point spread is. The good news is, it’s easy to understand once you know the basics. So, let’s get into it. What exactly is a point spread in betting?
Most games will have a favorite and an underdog. The point spread – or handicap – is what oddsmakers think the margin of victory is likely to be. Betting on the favorite will mean you take the points (-2.5 for example) from that team's final score. Conversely, if you bet on the underdog you add these points (+2.5) to that team's final score.
Let’s take a look at an example: If the Tiger-Cats are the favored team over the Stampeders by 2.5 points and you bet on the Ti-Cats, you're betting they will win by more than 2.5 points. On the other hand, if you bet the Stampeders, they can win, tie or lose the game by less than 2.5 points and you’ll win your bet.
So, how are these points spreads calculated?
Sportsbooks use many different factors when calculating a point spread. The goal is to find a line that accurately reflects the competitive difference between two teams; things like a team’s recent performance record, injuries, weather and player or coaching matchups. These factors will be accumulated to come up with a team rating – often called power ratings – which will then be used to determine the spread.
Money Line
The classic.
The moneyline bet is the simplest bet you can make at a sportsbook. There are no point spreads to worry about but that doesn’t mean there isn’t a favourite and an underdog. When betting the moneyline, your potential pay-out will change depending on which team is favored.
If the Maple Leafs are seen as the stronger team they’ll have lower odds, 1.71 for example. If you bet $100 on them, you win $71 profit. This is calculated by going $100 x 1.71 odds = $171, minus your original stake equals $71 profit. Now, if you decided to throw caution to the wind and bet $100 on the Montreal Canadiens, the underdog at (2.20), you will win $120 from the same $100 bet ($100 x 2.20 - $100).
Points Total (Over/Under)
What is an over/under in sports betting?
The points total allows you to bet without picking a side in the matchup. Instead, you are simply betting on how many points will be scored. Also known as "Over/Under," this bet is a wager on the combined points scored by both teams in a game.
In that Maple Leafs vs. Habs game we mentioned, the Over/Under is 5.5 points. If you bet the over, you're betting the total goals scored in the game will be 6 or higher. If you bet the under, you're betting the total goals will be 5 or lower.
Parlay Bets
A parlay is multiple wagers in one bet. Because the odds are higher, the payout is also higher. The catch? If any of your wagers are incorrect, the entire bet is lost.
You can combine or "parlay" the Raptors -2.5 and the Knicks -1.5 into one single bet. If the first bet wins, your bet is rolled into the next game. If the next bet wins as well the payout will be higher than if you had bet each game separately. But if either bet loses, the entire bet is lost.
But how are parlay bet odds calculated?
The reason parlay bets pay you out much more money for correctly picking multiple individual bets has to do with how the odds are calculated.
Parlay odds are calculated by multiplying each selections odds sequentially. The more selections you add, the more the multiplier grows, offering longer odds and even bigger payouts. Trust us, it sounds more complicated than it is!
To help you understand the difference in payouts, let’s compare betting three individual matchups at 1.91 odds versus combining them into a three-line parlay:
If you won all three individual bets of $100 at 1.91, the total profit would be $91 + $91 + 91 = $273. However, if you played all three games as a parlay wager, the profit on a single bet of $300 would be 1.91 x 1.91 x 1.91 x $300 - $300 = $1790!
Parlays are for sports fans who love taking a bigger risk for the chance at that huge payout!
Prop Bets
How about a little action on the side?
“Prop” bet is just short for proposition bet. This is a wager on a result that will occur in-game, and often has nothing to do with the game’s final outcome. Prop bets can involve a team’s or individual’s performance.
For example, a CFL game prop could on the combined number of touchdowns scored by both teams. An NHL prop bet could be betting on whether John Tavares scores a goal in tonight’s game.
