What Does BTTS Mean in Betting?

Whether you’re a professional sports bettor or simply enjoy placing wagers on sporting events, you may be familiar with the thrill of participating in a horse race called a ‘tote’ (short for ‘totalisator’ or ‘totalizator’, which is German for ‘totemist’ or ‘totalism’), where you place a ‘bet’ (short for ‘betsquare’) on each horse in the race. Essentially, a tote bets on the outcome of a horse race, with the bet payouts depending on the number of winners and the amount wagered. In the U.S., pari-mutual betting for entertainment and informational purposes is legal, but betting on sports is usually considered to be illegal. However, the legality of betting varies from state to state, so be sure to check with the governing body in your area to find out the current regulations.

What Is BTTS?

If you’ve ever watched horse racing, you may have noticed that sometimes the horses will enter the ring ‘neck and neck’ (i.e., in a dead heat) and other times they’ll be way ahead of the competition. When this happens, the broadcasters will add a ‘byes’ (short for ‘byes squared’) to the end of the race’s nickname to indicate a ‘to-the-wire,’ or ‘to the finish,’ finish. For example, if the race is named the ‘Horsepower Plant 100′ and it ends in a neck-and-neck race between two horses, the final results would be listed as the ‘Horsepower Plant 100′ ‘byes’ (or ‘byes squared’)- the horses came in neck and neck but neither earned a profit, so they both lose. This is called ‘true’ or ‘scratch’ betting, and it’s common in horse racing, particularly in places where there is no rule against it.

If you think that a particular horse is ‘due’ to win, you can place a ‘lock’ (short for ‘locked-in-a-row’), or ‘lay’ (short for ‘lay down’) on the horse you believe will win. A ‘lock’ is a bet placed with the goal of earning a profit, and the same goes for a ‘lay.’ With a ‘lock’ or ‘lay,’ you’re not necessarily betting that the horse will win, you’re just placing a bet that it will not lose. This kind of betting is often used in conjunction with ‘over/under’ betting, where you put a wager on whether a certain number will be exceeded or not. For example, if you think that a horse will win by a wide margin, you might lay down some extra cash to make sure you get your money back plus some extra (this kind of wager is called an ‘in-depth lay’). Or, if you think it will be a close race, you might want to place a ‘blocker’ on the horse you believe will come in last (this kind of wager is called an ‘outside straight’ lay).

Once you’ve placed your wager(s), you’ll need to determine the amount of credit you want to use. You can choose to ‘cash out’ at any time, but most people choose to ‘lock’ or ‘lay’ their winnings, and in the case of a ‘lay,’ sometimes they’ll even get a small profit, provided the horse they selected finishes either first or last (provided they meet the criteria for a winning ‘lay,’ of course). This kind of betting gives you the thrill of participating in a game you know well without risking your own money, and it makes placing bets a whole lot more fun!

Placing A Tote

Placing a tote is very similar to placing a bet, but instead of gambling on the outcome of a horse race, you’re wagering on the final score of an NFL Football game (in American sports), an NBA Basketball game (in sports betting circles), or an MLB Baseball game (in professional sports bettor circles). Just like with a horse race, there are occasions where the scores are close enough that you can’t separate the winners from the losers, so in those cases, you’d need to ‘byes’ (or ‘byes squared’) the game. Totes are commonly used in fantasy sports leagues, where participants use stats from around the league to create winning rosters for their teams.

Depending on the size of the bettor’s bankroll, the sportsbooks will either allow you to place a ‘teaser’ or ‘prop’ (short for ‘proposed,’ which means you’re proposing a wager, but haven’t placed it yet) on a game. A ‘teaser’ is a small wager that acts as a kind of teaser for a ‘prop,’ which is a larger wager. For example, you might want to put down a $100 teaser on an NFL game to get the attention of a bookmaker who doesn’t normally take teasers or small bets. A lot of casinos, especially those in Las Vegas, Nevada, also allow you to place bets with no initial deposit, which means you can put down a $100 bet without risking your own money (remember: it’s still illegal to place bets on sports in some states).

What Is A Parimutuel Betting Window?

If you’ve ever been to a horse race track, you may have heard of the term ‘parimutuel betting,’ whereby the winning and losing wagers are all ‘scratched’ (i.e., settled) together, and the money is then distributed among the winners. Parimutuel betting is legal in most states, and it’s all about the betting on sporting events, wherein the winnings are distributed among the winning wagers after all bets are settled. It’s essentially a win-win situation for all parties involved, as long as the betting is done legally and appropriately (i.e., within the confines of what is allowed by law).

You might be familiar with the phrase ‘closed session’ when it comes to your daily fantasy sports league, wherein the fantasy owners that you create can only be seen by the sportsbooks that host your league. However, you might not be aware that in some states, particularly in the Midwest, ‘open session’ fantasy sports leagues are also allowed and can be quite popular, as there’s no such thing as an ‘open session’ when it comes to parimutuel betting. When it comes down to it, the only difference between a ‘closed session’ and ‘open session’ fantasy league is where the betting takes place. In open-session fantasy leagues, the wagers can be placed at any time, while in ‘closed-session’ fantasy leagues, the wagers must be placed prior to the start of the game.

How Do I Calculate My Odds?

In the world of sports betting, your odds (also called ‘probability’) are expressed the same way they are in the world of Las Vegas. So, if you want to know the chances of winning a certain wager on a sports team, simply look at the odds that are posted next to the wager. If you’re not sure where to find these odds, simply look online or ask your bookmaker (casino or sportsbook).

For example, if you’re thinking of placing a wager on the New York Knicks to beat the Cleveland Cavaliers in an NBA Basketball game, you would look at the odds for this game (often posted next to the ‘Knicks vs. Cavaliers’ game in the NBA basketball section of a sportsbook’s website). If the odds are 26.0 (against the spread), you’re going to need to put down $100 to win $200, as the chances of the Cavaliers winning are 26.0% (i.e., $100/$260, as the total odds are 1.0, or 100%). If you’d rather not play the odds, you could put down a ‘teaser’ on the game or choose another team to back (depending on your bookmaker’s policy, of course), but you’re still going to need to pay the vigorish (i.e., money-charged fee) on your losing wager.

How Do I Calculate My Payouts?

Payouts in sports betting are usually expressed in the same way they are in Las Vegas. For example, if you’ve got a 3-to-2 winner on a race and you’ve got two people betting behind you, the person who placed the winning wager will receive three times the amount of his wager back. However, there are times when the payout ratios can be a little different. If you follow the rules and regulations set by the respective leagues and individual teams, you should be able to enjoy winning money in the right way.