There are rules to everything or else there would be chaos, anarchy and wild midgets running around nude in the street. Not that it would be a bad thing, but we have decided to live in a world of rules and online sportsbooks are no exception.

SportBet Internet Sportsbook Straight Bet Rules

If the sportsbook odds are positive (+), then the payoff is calculated by multiplying the wager times the odds (e.g., if you wager $50 and the odds are +120, the payoff is: $50 x 1.20 = $60). If the odds are (-), then the payoff is calculated by dividing the wager by the odds (e.g., if you wager $55 and the odds are -110, the payoff is $55 / 1.1 = $50). Point Spread with Odds (i.e., golf matchups): A combination of the two above. The selection must win by the point spread and the payoffs are calculated by the odds.

SportBet Sportsbook Parlay Rules

A SportBet sportsbook parlay is a group of straight bets combined into one bet. For the parlay to win all of the individual parts of the parlay need to win for the SportBet sportsbook to consider the parlay a winner. You can mix different sports on the same parlay. Two or more straight bets combined together to make one wager. If all teams in the parlay win, the parlay is a winning bet. If any team included in the parlay loses, the parlay is a losing bet. If a team in the parlay ties or is "no action," the parlay's number of teams is reduced by one; a tie on a two team parlay becomes a straight bet. The breakdown for SportBet sportsbook parlays are as follows:

2 teams - 13/5, 3 teams - 6/1, 4 teams - 10/1, 5 teams - 20/1, 6 teams - 40/1, 7 teams – 75/1, 8 teams - 150/, 9 teams - 250/1, 10 teams 400/1, 11 teams 500/1, 12 teams – 600/1, 13 teams – 750/1, 14 teams – 900/1, 15 teams - 1,200/1

Maximum parlay payout is 75k. Teaser parlays are different in that all ties lose.

SportBet Sportsbook Betting Limits

SportBet parlays, teasers, futures and totals max out at $1,000, with the exception of football, which is at $3,000 and basketball, which is $2,000. Basketball sides max out at $3,000, NHL at $2,000 and football maxing at $5,000. Minor sports, i.e., horse racing, auto racing and tennis, max out at $1,000. SportBet Sportsbook horse racing is limited to $250. In addition, any parlay including at least one WNBA game has a limit of $250.

For SportBet internet sportsbook wagering, the maximum wager per ticket is $1,000 on straight bets and $250 on parlays and teasers, but multiple tickets may be placed to reach the limits listed above. The maximum wager on a circled game is $500.

For telephone sportsbook wagering, the minimum wagers are $50 on straight bets and $25 on parlays/teasers. For overnight lines with the SportBet sportsbook, maximum bet is $500.