A reverse bet in sports betting is a type of bet that involves combining two straight bets (also known as a “split” or “two-team parlay”) into one, but with the condition that both legs of the bet must win for the bettor to collect a payout. The key difference between a reverse bet and a standard parlay is that in a reverse bet, the two legs are independent of each other. This means that if one leg wins and the other loses, the bettor still has a chance to win something, whereas in a parlay, a single loss results in a complete loss of the bet.
Here’s how a reverse bet typically works:
1. **Combination of Two Bets**: You choose two separate events to bet on, and you make two separate wagers. For example, you might bet on Team A to win and also on Team B to win.
2. **Four Possible Outcomes**: With a reverse bet, there are four possible outcomes for the two legs of the bet:
– Both legs win: You win both parts of the bet and receive the highest payout.
– One leg wins and the other loses: You win one part of the bet and lose the other. You still get a payout, but it’s less than if both legs had won.
– One leg pushes (ties): If one leg results in a push, the outcome for that leg is treated as a win for payout purposes.
– Both legs lose: You lose the entire bet and get no payout.
3. **Payouts**: The payouts for a reverse bet are typically lower than for a parlay because the risk is lower. When both legs win, the payout is less than the full parlay payout because the bettor is hedging by having two separate wagers. When only one leg wins, the payout is significantly less than the full payout for a winning parlay.
4. **Calculating Payouts**: To calculate the payout for a reverse bet, you need to know the odds for each leg of the bet. You then calculate the payout for each possible winning scenario (both legs win, one leg wins) and compare it to the potential payout for a parlay.
5. **Flexibility**: Reverse bets offer more flexibility than parlays because you can still win something even if one of your selections loses. This can be particularly appealing to bettors who are looking to mitigate some of the risk associated with parlay betting.
It’s important to note that the exact rules and payouts for reverse bets can vary by sportsbook, so bettors should always check the specific terms and conditions at the sportsbook where they are placing their bets.