Reverse Bet
Sports Betting Tips: Understanding Reverse Bets
by Trevor Whenham - 11/18/2010
Reverse bets are a type of bet you can make at most sportsbooks, but they aren’t a particularly popular bet, and they don’t even show up on the radar of most bettors. A large part of the reason for that is that the bets can be confusing if you don’t understand them. Once you figure out what they are, though, they actually make a lot of sense.
American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet. Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100. So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. A reverse bet is similar to a parlay wager but it’s actually a set of if bets where action goes in both forward and reverse order. It’s a great time for an example: Let’s imagine for NBA basketball two games on the board are the Miami Heat -4 vs. Los Angeles Lakers +4 and Chicago Bulls -3 / Brooklyn Nets +3.
A reverse bet is essentially just two ‘if’ bets, so it makes sense that we start with looking at what an ‘if’ bet is. An ‘if’ bet is a bet on two or more teams - like a parlay is. The difference between a parlay and an ‘if’ bet, though, is that you have to win all of your games in a parlay or you lose your entire bet, while in an ‘if’ bet you can get some money back if you win just once.
It’s easier to understand an ‘if’ bet if you think of it as an ‘if/then’ bet. If you bet a three-game ‘if’ bet and the first game wins, then the bet you planned to make on the second game is active. If the first bet doesn’t win then your bet on the second and third games don’t happen. If the second game wins then your bet on the third game is active. If the bet on the second game loses then your bet is finished, but you get to keep the proceeds from the first winning bet.
There are a few reasons why you would make an ‘if’ bet, but one of the most common is because of an inadequate bankroll. If you want to bet on two games and you only have $100 to bet on each, then you could bet $50 on each game, or you could give yourself a shot at a better ultimate profit by placing a $100 if bet.
A reverse bet is just two two-game if bets that are dependent on each other. People who are familiar with betting on horse races will understand that a reverse bet is essentially just a box of an ‘if’ bet. For example, lets say that you like Team A in one game and Team B in the other. If you just bet an ‘if’ bet on A and then B you would be out of luck if A lost - even if B subsequently won.
In a reverse bet you would make two if bets - A then B, but also B then A. Depending on the odds for the two teams you are interested in, your losses could be less in the reverse bet than if you had just bet the one ‘if’ bet. If Team B was a big underdog you could even make a profit even if only one team won. You can make reverse bets that combine a moneyline bet with a point spread, or even games in two different sports.
The concept may still be a little muddy, but an example will make it easier to grasp. Let’s say that the two teams you like are the Giants -110, and the Steelers -120, and you make a $500 reverse bet. The potential loss in a reverse bet is twice the potential loss in the potentially more expensive game. In this case you are betting to win $500 on each game, so on the Giants you would bet $550, while on the Steelers you would bet $600. Your maximum loss, then, is $1200 (the maximum loss would occur when the more expensive game loses and the less expensive game is a push). Ignoring the possibility of pushes, there are four different possible outcomes - the Giants and Steelers can both win, the Giants can win and the Steelers can lose, the Steelers can win while the Giants can lose, or both teams can win. Let’s look at each:
Both teams win: In this case you would win both of your if bets. In the first you would bet $550 on the Giants and win, generating a profit of $500. Then you would bet $600 on the Steelers, generating a profit of $500. You would generate a profit of $1000 on that ‘if’ bet. You would also bet $1000 on the other ‘if’ bet. Your total profit, then, would be $2000.
Giants win, Steelers lose: In your first ‘if’ bets - the Giants then the Steelers - you would win your first bet for a profit of $500, but then you would lose the second bet for a loss of $600. Your net result on that ‘if’ bet would be a loss of $100. On the other if bet you would lose $600 on the Steelers bet, and the ‘if’ bet would end. Your total loss would be $650.
Steelers win, Giants lose: You would lose your first ‘if’ bet - the Giants then the Steelers - and you would lose $550. On your second if bet you would win the first part for a profit of $500, but then you’d lose the second part and lose $550. Your net loss is $50. Overall your loss would be $550.
Both teams lose: You would lose $550 on the first if bet, and $600 on the second if bet, for a total loss of $1150.
So, why would you bet a reverse bet instead of a parlay? If you risk $1200 in a parlay with these two teams then you would make a profit of $3000 when you won, but you would lose your whole bet in the other three possible outcomes. Those three losses would cost you $3600.
So over the long term the expectation of the bet would be a loss of 12.5 percent of the amount you bet. In a reverse bet you would only win $2000 when you win, but your losses would only be $2350 on your three lost bets. You’d still lose money over the long term, but your long-term loss expectation would be just 7.6 percent. It’s easier to overcome a smaller expected loss with handicapping than a bigger one, so reverse bets could be more attractive in this situation.
Most Recent Sports Betting 101
A reverse bet is similar to a parlay bet but is actually a set of if bets where action goes in both forward and reverse order. Let’s say for NBA basketball two games on the board are Boston Celtics -4 vs. Lakers +4 and Chicago Bulls -3 / Orlando Magic +3. We decide we want to bet the Lakers +4 and also want to bet the Bulls -3. If we did so in a $100 2-team parlay we’ll be paid $264.64 if both teams win, and we will lose our full $100 stake if we go 1-1 or 0-2. If we instead made a reverse bet our wager would be:
- Bet #1 Lakers +4 -110 $50 to win $45.4545.
- If win, push, tie, or cancelled –Then: Bulls -3 -110 $50 to win $45.4545
- Bet #2 Bulls -3 -110 $50 to win $45.4545.
- If win, push, tie, or cancelled – Then: Lakers +4 -110 $50 to win $45.4545
The two bets above are placed together on the same ticket using the reverse bet wagering option of an online bookmaker. As you can see this is a “double if bet” using the same selections. Bet $50 on the Lakers and if they win, push, tie or cancel rebet my $50 stake on the Bulls. Also bet $50 on the Bulls and if they win, push, tie or cancel rebet my $50 stake on the Lakers. Do you understand now why this is called an action reverse?
The potential outcomes:
- If both teams lose your $100 stake is lost= -$100
- If both teams win you win $45.4545 four times = +$181.82
- If one team wins and the other loses you win $45.45, but you moved your $50 return of stake to the team that lost which you had another $50 stake on that also lost. So (+$45.45)+(-$50)+(-$50)= -$54.55.
Are Reverse Bets Better than 2-Team Parlays?
This depends how you define better. With a $100 2-team parlay where both selections are -110 we either lose $100 or win $264.64. For $100 action reverse we lose $100, lose $54.55 or win $181.82. If both point spread bets are truly 50/50 propositions the expected ROI on the parlay is -8.88% (per bet) and on the action reverse -6.82% (per bet). If you’re a recreational bettor and looking for which play over the long haul will result in the lowest expected loss no question action reverse is the best bet. If you want a higher payout relative to stake a parlay might be better. Again, it depends how you define better.
Where to Bet Action Reverses Online
www.5dimes.eu no question about it is the best website for action reverse betting. The reasons why are many. For starters, every wager on their board can be added to an action reverse ticket. This includes main markets from all the most popular sports but it also includes live in-play, football props, small market sports, team totals, first quarter lines and more. It is also possible to select up to 10 wagers on the same reverse bet ticket. When selecting more than two, your wager will be a round robin on every single possible two bet combo. Although there are other sites on the market for placing this wager type, 5dimes is by far the site offering the most options and value on reverses.
Reverse Betterment
Reverse Betting Strategy
Reverse bets are primarily a way for recreational players, and by this I mean those gambling just looking to get lucky, to leverage their bankroll with a lower expected loss than 2-team parlays entail. There however are times professional bettors use this form of wagering.
Reverse Bet In Football
The most obvious strategy is when making wagers that are correlated. Be warned however 5Dimes has zero tolerance for shot taking. If you make a wager that is obviously correlated such as the pitcher over a certain number of strike outs and the other team under their posted team total, these bets will be voided. Perhaps not at first but if 5Dimes catches you doing this expect consequence. There are less obvious correlations that can be bet.
Take for example late in the NFL season. One team is eliminated from the playoffs if the other wins. This is a time you might consider a reverse bet because if that other team is blowing out their opponent, fourth-quarter motivation might change.
Another scenario a pro might do action reverses is when they need to make a wager on a strong position in a hurry and don’t have time to post up additional funds. Years ago, Ben Roethlisberger’s motorcycle accident and the death of Brett Favre’s father are two times I remember that announcement came during overnight hours for the books. This is a time you might find yourself a situation where you need to make a bet in a hurry but don’t have time to post up more funds. You might leverage this by doing action reverses with several other games.
Reverse Betting
Two strong positions is obviously another reason pros would make this form of wager. Yet another is circumventing betting limits when possible. I’m sure they are more reasons too. This article was intended to provide just an overview on how reverse betting works and to include strategic ideas. This all said, we at Online Gambling hope you found this information helpful and wish you the best of luck utilizing it this betting season.