Are you new to sports betting and using the DraftKings Sportsbook App? Feeling uncertain about how to place a DraftKings straight bet? Fear not! We’ve created a step-by-step tutorial to guide you through the process of making a straight bet with DraftKings.
Understanding Straight Bets in Sports Betting
In sports betting, a straight bet is one of the simplest and most common types of wagers. Also known as a single bet, it involves placing a wager on the outcome of a single event or game. The bettor chooses a specific team, player, or outcome they believe will occur, and if their prediction is correct, they win the bet.
Straight bets are popular among casual bettors, as the simple nature of the bet removes some of the variables that come with parlays, same-game parlay bets, prop bets, and other complex wagering options.
- $5 minimum deposit.
- $5 minimum bet to access offer.
- $200 in Bonus Bets are applied once your qualifying wager is placed.
Three primary types of wagers fall under the category of straight bets:
Point Spread Bet
For point spread bets, the sportsbook sets a point spread for a game, predicting how many points the favored team will win by. The favored team is indicated by a minus (-) sign and must win the game by more points than the spread for the bet to be successful. The underdog team is indicated by a plus (+) sign and must either win the game outright or lose by fewer points than the spread.
Moneyline Bet
In a moneyline straight bet, you’re simply betting on which team will win the game without any point spread involved. The odds are assigned to each team to indicate the payout. The favorite is represented by a minus (-) sign, indicating how much you need to bet to win $100. The underdog is represented by a plus (+) sign, indicating how much you would win on a $100 bet. Here’s an example with the New York Knicks.
Totals Bet (Over/Under Bet)
An over/under bet, also known as a totals bet, is considered a type of straight bet in sports betting. Like other straight bets, it involves placing a single wager on the outcome of a specific event or game. In the case of an over/under bet, you are predicting whether the combined score of both teams (or individual player statistics, depending on the sport) will be over or under a certain number set by the sportsbook.
Calculating Your Potential Winnings
Now that you understand the basics of placing a straight bet, let’s delve into the exciting part—calculating your potential winnings.
Straight bets offer simplicity when it comes to determining your payout. The amount you stand to win depends on two key factors: the odds and your wager amount.
Odds: As mentioned earlier, odds can be expressed as plus or minus. A minus sign (-) signifies the favorite, while a plus sign (+) represents the underdog. The odds indicate how much profit you can make on a successful bet.
Wager Amount: This is the amount of money you decide to risk on your bet. It’s entirely up to you, and you can choose to wager as little or as much as you like, as long as it falls within the sportsbook’s minimum and maximum betting limits.
Calculating Potential Profit for Plus (+) Odds
If you’re betting on an underdog with plus (+) odds, here’s how you calculate your potential profit:
Potential Profit = (Wager Amount) x [(Odds) / 100]
Let’s say you bet $100 on an underdog with +250 odds. Using the formula:
Potential Profit = $100 x [(250) / 100] = $250
In this scenario, a successful $100 bet on the underdog would yield a profit of $250, in addition to getting your initial $100 wager back.
Calculating Potential Profit for Minus (-) Odds
For favorites with minus (-) odds, calculating potential profit is a bit different:
Potential Profit = (Wager Amount) / (Odds / 100)
Suppose you bet $150 on a favorite with -120 odds:
Potential Profit = $150 / (-120 / 100) = $125
In this case, a successful $150 bet on the favorite would result in a profit of $125, alongside the return of your initial $150 wager.
Understanding how odds and your chosen wager amount interact will help you make informed betting decisions and maximize your potential winnings. It’s a crucial aspect of straight bets that empowers you to bet confidently on DraftKings Sportsbook.
Step 1: Find the Event You'd Like to Bet On
Once you have the DraftKings Sportsbook App opened and are logged in, the first step is finding the event you want to place a bet on. You can search for the event by scrolling the home screen or using the All Sports Menu.
In this video, I am betting the Dallas Mavericks as a five-point underdog.
Step 2: Enter Your Wager Amount
After selecting your bet, the second step is to enter your wager amount. To do so, select the wager section on the bet slip that appears. There you will enter the amount you want to bet.
Step 3: Place Your Bet
The third and final step to placing a straight bet is pressing the “place bet” button at the bottom of the screen.
Congratulations, you have successfully placed a straight bet on the DraftKings Sportsbook App!
How To Make Draftkings Straight Bets FAQ
Can you bet straight up at DraftKings Sportsbook?
Can you make same game parlays out of straight bets?
Are straight bets better than parlays?
Straight bets are generally considered safer and more manageable due to their lower risk and higher likelihood of winning. They are a good option for bettors who prefer a more cautious approach and want to increase their chances of success. A straight bet is also a good way to if you’re making your first bet at DraftKings Sportsbook.
On the other hand, parlays offer the potential for significant returns, making them attractive to bettors seeking bigger payouts and more excitement. However, due to the increased risk and lower probability of winning, parlays are generally considered more suitable for recreational betting rather than a primary strategy for consistent long-term profits.
Access our full library of DraftKings help articles for more information or read our detailed DraftKings review. You can also jump straight to our list of the best sportsbook promotions for your state.
