The Washington Football Team has received a sports betting permit in Virginia and, through the franchise's partnership with FanDuel, launched a mobile sportsbook in the Commonwealth on Thursday.
The Virginia Lottery issued the permit to Washington on Wednesday, making the Football Team the first NFL franchise to receive a sports betting license.
NFL betting can be described in many ways. It’s a hobby, a passion, a profit opportunity, or just plain old fun. But the lure of the sportsbook is about much more than predicting which team will win the game on Thursday or Monday night. To bet on football can be a sport, a game all of its own. TeamBetting.com is the place where you can find free football tips and predictions. We are here to help you with our betting tips and football predictions. The most important thing is that FREE, so before you decide to place your bets. Jul 15, 2020 When the oddsmakers release a betting line on a game, the first thing they do is decide which team should be the favorite and which should be the underdog. The favorite is the team that is expected to win the game and will get a minus sign next to its odds, while the underdog is expected to lose and gets a plus sign. NFL football odds and football betting lines updated multiple times daily. Includes updated point spreads, money lines, and totals lines.
Financial details of Washington's partnership with FanDuel and how revenue from the Virginia sportsbook will be shared between the bookmaker and the team were not disclosed. NFL franchises are not allowed to directly participate in or provide sports betting; however, in states that grant teams market access, they can designate a sportsbook to utilize the license, a league spokesman told ESPN.
Washington declined to comment on the sports betting permit and referred questions to FanDuel.
'The way the Virginia legislation is written, there is preferential treatment to the team, which is one of the reasons why we're privileged to be the first sportsbook live in the state of Virginia,' Mike Raffensperger, chief marketing officer for FanDuel, said Thursday.
Raffensperger said bettors in Virginia should expect to see Washington Football Team marks and logos on the online sportsbook. The partnership extends into Washington, D.C., where FanDuel signage will appear at Fedex Field.
Virginia's sports betting market will launch online only; the move to allow retail sportsbooks is still being discussed. As of Thursday afternoon, FanDuel, in conjunction with the Football Team, was the only approved permit holder.
In addition to Virginia, Illinois and the District of Columbia also allow professional teams and/or stadiums to receive sports betting licenses. Capital One Arena in Washington, D.C., has a retail sportsbook, and Nationals Park and Wrigley Field have announced intentions to add sports betting to their venues.
While Washington is the first NFL franchise to hold a sports betting permit, it is not expected to be the last.
'It's exciting that the NFL teams and other league teams are getting involved,' Scott Ward, a government affairs partner for lobbying firm Orrick, who worked on the legislative process in Virginia, told ESPN. 'I think we're going to see this in other states, particularly throughout the South, where you don't have casinos, including Texas.'
The Washington franchise has an established presence in Virginia, with its headquarters and training facility located in Ashburn. Virginia delegate Mark Sickles, who sponsored the sports betting legislation, told the Richmond Times-Dispatch that no deal with Washington for a new stadium had been struck and that the granting of the permit to the Football Team was 'a sign of good faith on our part.'
With Virginia's launch, 20 states and the District of Columbia will have regulated sports betting markets. Five states have passed sports betting legislation and are gearing up to launch markets, while more than a dozen states are currently examining the issue. Idaho, Utah and Wisconsin are the only remaining states that have not introduced sports betting legislation since a 2018 ruling from the U.S. Supreme Court that struck down the federal statute that restricted regulated bookmaking to primarily Nevada.
ESPN's John Keim contributed to this report.
A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.
The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.
The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.
Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!
Placing a parlay bet
There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.
Some mobile sports wagering apps offer both types of parlay bets.
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Winning a parlay
There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.
Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.
Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.
If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.
Types of parlays
A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.
A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.
The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.
The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.
The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.
A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.
Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.
Nfl Team Betting Lines
- For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.
Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.
The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.
Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.