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When you enter the world of sports gambling, it can be daunting; where do you place a wager, how do you place a wager, and do you have a semblance of a betting strategy, is intimidating. To top it all off, gambling has a language all its own. Do you know what a parlay is, a teaser, alternative odds and the like? Besides, online sportsbooks and casinos have rules to follow when you make a sports bet at their book. State and local governments heavily regulate casinos and online sportsbooks because too much gambling, like anything else, can cause problems like addiction. At MyTopSportsbooks, we will help you understand the rules of the road for sports gambling and introduce you to a few rules gamblers should adhere to when playing for fun and profit on games of chance.
Universal Rules
The betting rules apply to horse racing NFL, NHL, NBA, MLB, NCAA, College Football, MMA (bouts) games, player props, futures bets, any straight bet, Moneyline bets, proposition bets or a single bet. We have outlined the specific rules for sportsbook gambling in this article as a guide to help with your sports bets. The bet types run the gamut from the number of points scored by half-time or in the second half, the first touchdown scored in an NFL game in the first half or second half, to the total points over four quarters that both teams score. You can make parlay bets, and as the number of teams increases on your ticket, so do the odds of a big payout.
Odds and Lines, All Prices are Subject to Change Without Notice
Sportsbooks post a high volume of odds and lines every week. They can make a mistake without thinking about it, and that is when the fun starts. If an error in the posted line, event scheduled time, or maximum bet, it will declare all bets no action wagers. When that happens, all money is credited to the sports bettors who may have been duped by erroneous information.
Games Must be Played When Scheduled
Games can be cancelled or rescheduled for different reasons. When that happens, the sports book will re-calculate the odds to reflect the new scheduled date due to the circumstances affecting the winners and losers.
Bets Must be Placed and Accepted Before the Start Time of the Game or Event
This is self-evident. You can’t place a bet on a game in progress – live betting excepted – or event. If you do, the sportsbook will void the bet. They want to keep a fair and level playing field for all sports bettors. Integrity and trust are the operators’ reputations.
Restrictions
You can’t bet the moneyline and Point Spread Together on the Same Game or a Parlay. You can’t bet in multiples where one part of the bet affects the outcome of the other part of the bet. Sportsbooks believe in self-protection and preventing this type of bet keeps exposure to a minimum on payouts. You Can’t Bet the Point Spread and the Over/Under of The Same Game
MLB Results are Determined After Five Innings
In baseball, a rainout or other weather events can interrupt the game. To make it official, the teams must complete five innings. If the home team leads after 4.5 innings, it can be considered an official result because they don’t need the last at-bat.
Generally, the listed pitchers or starting pitchers will go head-to-head until the umpire calls the game. If you have a bet on the run line, you must be ahead by two runs when the game is called or the final score to be validated to cash a winning ticket for the matchup. Should the game go into extra innings, the same rules apply for the run line, win by two runs.
Betting on the “next” event, all wagers will be no-actioned
Betting on the next event, and the game concludes, your bet is no-actioned, no bet and declared a push on any sporting events.
If the odds change significantly between the time the bet is placed and the time it is accepted, the book will reject it outright.
If this happens, the sportsbook will ask you to confirm your bet with the updated odds. This is the fair play, equal opportunity principle that guides sportsbooks. Any injury or suspension can cause an underdog to become a favorite for a regular season game.
Procedural Terms and Conditions
- All bettors must be at least 18-years-old to play, and sometimes more depending on the legal jurisdiction. This is a legal requirement from the governing body that regulates sports gambling.
- When funds are confirmed in a bettor account, they are set to play. The sportsbook must confirm receipt of funds before any action has begun.
- Sportsbooks only accept funds that belong to the account holder; it could be fraud should they accept funds from third parties.
- Verification of ID before settlements or withdrawals
- Another means to protect against fraud sportsbooks want to make sure they are paying the right person.
- Confidentiality is a must.
- Sportsbooks will never share your personal information or betting history with a third party.
- Sportsbooks can reserve the right to accept, limit or decline any wager.
- If you are suspected of nefarious activity, the sportsbook is within its rights to stop any gambling activity you are engaged in.
- Sportsbooks can restrict maximum wagers before a bet is placed and accepted.
- This is a risk-management strategy. It’s to protect the sportsbook from too many winning bets and not enough cash to pay everybody.
- When bets are confirmed, they can’t be cancelled.
- Once you lay a bet, it is cut in stone. Be sure before you bet; if you get caught flubbing your bet, the sportsbook may let you bet the other side as a hedge against a loss.
- Sportsbooks place maximums on winnings per event/game.
- In the US, sportsbook operators have a USD 100,000 limit on winning bets for games or events they list at their premises.
- Tax reporting is the bettor’s responsibility.
- The taxman, like the bookie, wants his cut of your winnings. The sportsbook won’t pay your taxes, and you must remit to the proper authorities within the statutory time frame.
- You are responsible for your account information.
- If you give out your password or account number to another person, the sportsbook isn’t responsible for events after you release the information.
- One player, one account
- If you have more than one account with a sportsbook, you will see everything but the primary account voided.
- You can’t bet more than you have in your account.
- The casino or online sportsbook is not the stock market. There are no margin calls after the play has concluded. No money, no funny.
