What is a Bet Slip?

As you start to get more comfortable betting on sports, one thing you’ll notice constantly popping up when you’re sports betting is the bet slip. Online, the betting slip pops up automatically on most of the sportsbook sites that you play at once you have added a bet.

Sportsbooks will show bettors the bet slip and every game they have added to it as sort of a quick summary of everything the bettor has decided to click on.

They can then view the lines, review all the wagers they are considering and finally place the bets on games that they want. Let’s go into all the details of what a bet slip is so that you can see how it works when you’re sports betting at various bookmakers.

We Present the Best Online Sportsbooks

No matter what different betting markets you choose when you place a bet, you will be confronted with bet slips at some point. But, before you even get to that point in sports betting, you’ll need to find the best sportsbook that will give you all the access you need to gamble on the team that you like.

There are many different bet types out there and many different factors that go into whether a sportsbook will be right for you or not. This can make it very difficult to decide which sportsbook you want to wager at.

That’s why our experts are constantly scouring the internet and reviewing various bookmakers so we can be helpful to you in your search for the perfect sportsbook. We provide articles on all different sportsbooks, how to open an account, what bonus you could qualify for and how you can claim it, and even the best sportsbooks that offer the payment method you want and that pay extra when you win certain bet types.

So, check out our site first for everything there is to know about online betting, including getting free bets on selected games such as poker and other games.

What’s a Betting Slip?

The term betting slip comes from what is given to someone who places a wager at a retail sportsbook. Once they have chosen the match they want to bet on and the stake they want to risk, the sportsbook then gives them a paper ticket that acts as their receipt. If the ticket is considered a winner, then the person has to take that receipt back up to the window to get their payout money.

Once online betting emerged as a popular option, the written-out betting slip obviously didn’t fit. But the bet slip work the same way for online betting, too, at least in theory.

Bet slips for sports betting online still list every bet that a person makes, as well as the odds for each individual selection, the potential payout if the bet wins, as well as the total money that the player could win if every bet on the slip is successful.

In essence, bet slips are lists of every game that is included in a person’s bet, including the potential winnings and the team that they are betting on in every game.

What’s on a Sports Betting Slip?

There are a number of things that are on a bet slip. First, you will see the full listing of each individual bet for your entire bet.

On each separate line will be a list of each bet that you make. For example, it will list the tame you are betting on in the sports game, as well as the betting line on the game, the odds on the game, and how much money you’ll be winning if your team is able to score enough and cover the line.

A betting slip can include a bunch of single bets or a combination bet such as round robins, a parlay and a teaser. The betting slip will automatically start to compile every bet you add right there on the screen.

This allows you to review all the bets you have added to the betting slip before you finally click submit and have the money deducted from your account. You can always review the slip from your account on the site, so you can see what picks you submit as well as the lines that each had. It will just be a digital format instead of a paper one.

Betting Slips and Moneylines

If there is a plus sign next to the team, that indicates they are likely the underdog in the game. If there is a minus sign, that likely indicates they are the favorite.

Next to the plus or minus sign will be numbers. This will be the odds that are set for the particular moneyline. There will be a section that shows how much money you have selected to wager, which essentially is the amount you are risking to lose if your team doesn’t win the game.

Finally, at the bottom will be listed how much you will win based on the odds that are listed for the moneyline. Again, remember that all you have to do is predict the correct winning team of the particular games to win a moneyline wager. This is a great way to use a bonus that is offered by the betting site, as well as any other promotions such as free bets.

Betting Slips and Point Spreads

The betting slip with point spread wagers are very similar. Here, you will see the team you have selected for your wager listed, with the handicap lines listed next to them. This will either be a plus or minus followed by a number. This is the lines that they have to cover in order to win your bet. The point spread dictates the margin of victory that teams must win by in order for you to win your bets.

An example would be the Cincinnati Bengals -3.5 vs. the Oakland Raiders. This would indicate that the Bengals would have to win by 4 or more points for wagers on them to win, while the Raiders could lose by 3 or fewer points or win outright for wagers on them to win.

There would be no opportunity for a push in this case, since the score can’t end with a half-point. Next on the bet slip will come your stake listed, followed by the odds that the particular wager you have selected have.

Then, at the bottom will show your potential winnings of that wager. Finally, there will be a section to submit your bet and where you can use a bonus such as free bets if you have them.

Betting Slips and the Over/Under

The over/under on a betting slip will list the teams that are involved, the over/under line, the odds for the selected bets, your selected stake you will play and then the value of the bet based on the payout.

Keep in mind if you place free bets using a bonus you get before the game begins, that the odds change at times. However, your bets on the bet slip won’t update after you submit them.

Your betting slip can’t be updated once it’s been submitted. You would have to place a new bet with the updated odds as a live bet type if you want to take advantages of the changing odds.

Betting Slips and Parlays

The betting slip is very useful when you’re building parlays. That’s because you will see the bet slip automatically updated after each one of your selections in parlays. The nice part about this is you can see how your bets will affect each other in a parlay through the bet slip.

For example, if you’re using free bets to build a parlay, you can make your first selection and then enter your stake. Then, as you continue to add new bets to your parlays, you will see the odds and the payout potential update at the same time. This will show you the potential value you are getting from the bonus you are using from the free bets.

Betting Slips and Odds Calculations

Along these lines, the bet slip is extremely useful in calculating odds. When you’re talking about just one bet all by itself, it’s easy to see what the odds are and what value you might be getting from your bonus stake.

However, once you start adding more bets to the bet slip — whether it be through a parlay or not — it can be hard to track your bonus stake.

That’s why the bet slip on sports betting sites are so useful. As you add another bet from to your bet slip, it will update automatically on the same screen, even if you are placing a bet from different betting markets, such as horse racing.

As you are adding every bet on your list, you can see in one lump sum what your total payout would be from every bet. It doesn’t force you to go to another screen to see this information.

Totals on a Bet Slip

The totals at the bottom of the bet slip are what most people care about. They want to know what they are getting out of their bonus that they are using for this bet, and that’s what the bet slip does. It’s all right there in front of them, without the need to keep clicking back to different screens.

Round Robin on a Bet Slip

If you’re placing round robin wagers, the bet slip is very useful, too. Just like parlays, round robins include multiple different legs. Once you start adding some to a bet slip, it can be hard to track. But, the bet slip lays it all out for you right there in front of you.

If-Bets and Action Reverse on a Bet Slip

An if-bet or an action reverse bet has different potential outcomes. It can be challenging to see what you’re doing if you didn’t have a bet slip. All the details will be listed automatically as you add them to your bet slip.

Conclusion

The bet slip got its name from in-person betting where they would give out pieces of paper that served as receipts for bets that were placed. Even though the paper isn’t necessary online, the bet slip is still alive and well.

It lists all the information you would want to know about every bet that you make, and gives you a great reference point as you’re building more complicated bets such as parlays.

Last Updated on 26/12/2022 ago by Devak Mukherjee