What is a Reverse Wager? How to Bet a Reverse Wager Explained
A reverse wager is an interesting way to bet that gives you more chances to win by combining multiple “if bets” into one. If you’re looking to minimize risk while still chasing decent payouts, a reverse wager can be a great option. It’s flexible and offers higher potential returns than a regular straight bet. So, how does it work, and when should you use it? Let’s break it down in simple terms.
The Basics of a Reverse Wager
A reverse wager is essentially two or more if bets stacked together. Now, an if bet works like this:
you place a bet on one game, and if that bet wins, another bet is placed. If it loses, no further bets are placed, which can protect you from losing more money.
In a reverse wager, you’re taking this concept up a notch. You cover all possible outcomes by reversing the “if” conditions, meaning you’re betting on both sides of each possible outcome. This gives you more chances to win because you’re placing bets on every combination of outcomes.
How Does a Reverse Wager Work?
Let’s say you’re betting on two NBA teams: the Chicago Bulls and the New York Knicks. Here’s how a reverse wager would look with these two teams:
You place a two-team reverse wager. In reality, you’re making two separate if bets:
- If the Bulls win, a bet is placed on the Knicks.
- If the Knicks win, a bet is placed on the Bulls.
Each wager works like its own individual bet, but because it’s a reverse wager, you’re covering both betting combinations. That’s what makes this kind of bet more robust and potentially more rewarding.
Breaking Down a Reverse Wager Example
Let’s imagine you’re betting $55 on each side of the reverse wager. Here’s how it would play out:
If Bet 1: Bulls -5 vs. Knicks (You bet $55 to win $50)
- If the Bulls win, then a second bet on the Knicks is placed.
If Bet 2: Knicks +3 vs. Bulls (You bet $55 to win $50)
- If the Knicks win, then a second bet on the Bulls is placed.
If both the Bulls and Knicks win, you’d collect $200 ($50 from each bet). That’s $310 total, including your original $110 wager. But if only one team wins, you’d lose $60 instead of the full $110, meaning you’ve limited your losses. If both teams lose, you’d be out the entire $110.
Advantages of Reverse Wagers
What makes reverse wagers stand out is that they give you more ways to win compared to a traditional parlay or straight bet. In a parlay, all your picks need to win, but in a reverse wager, you can still win money if only one of your bets hits.
Another big benefit is that you’re limiting your losses because you’re making several separate if bets. So, instead of losing everything if one bet fails, you might still walk away with some winnings.
Reverse Wagers vs. If Bets
The key difference between a reverse wager and a regular if bet is that a reverse wager covers both possible outcomes. In an if bet, the second wager is only placed if the first one wins. In a reverse wager, both combinations of the if bet are placed, which effectively doubles your chances of winning and increases your potential payout.
For example:
- In an if bet: If the Bulls win, you bet on the Knicks. If the Bulls lose, no further bets are made.
- In a reverse wager: You cover both possibilities, placing one bet where the Bulls win and the Knicks bet is made, and another where the Knicks win and the Bulls bet is made.
Which Sports are Best for Reverse Wagers?
You can place reverse wagers on almost any sport, but they’re especially popular for:
- Football (NFL and college football)
- Basketball (NBA and NCAA)
- Baseball (MLB)
- Hockey (NHL)
Football season, in particular, sees a lot of reverse wagering. Bettors love placing reverse bets on Saturday college football games or Sunday NFL matchups. These types of bets are also common in basketball, baseball, and hockey, especially when multiple games are happening at once.
How Odds Affect Reverse Wager Payouts
The payout from a reverse wager depends on the odds for each game. If you’re betting on games with -110 odds, the payout will follow the usual pattern for point spreads. But if you include moneyline bets (especially on underdog teams), the payouts can be much higher.
For instance, let’s say you bet on these underdogs with a reverse wager:
- New York Jets at +125
- Detroit Lions at +145
Because these teams are underdogs, the potential payout will increase if they win, but the risk is also higher since they’re less likely to pull off a victory. It’s all about balancing risk and reward.
Reverse Wager Payouts: A Quick Breakdown
Here’s how the math works out on a typical reverse wager with -110 odds:
- You bet a total of $110 ($55 on each leg).
- If both teams win, you walk away with $200 in profit plus your original $110, for a total payout of $310.
- If only one team wins, you lose $60 (a $55 loss on one side and a $5 loss on the other).
- If both teams lose, you’re out $110.
Smart Strategies for Reverse Wagers
Here are a few tips to get the most out of reverse wagers:
- Stick with Confident Picks: Since reverse wagers put a lot on the line, only bet on teams you feel strongly about. One bad pick can really hurt your payout.
- Sprinkle in Underdogs: Adding moneyline bets on underdogs can boost your winnings if they hit. Just be cautious of the higher risk.
- Don’t Go Overboard with Teams: While you can bet on up to four teams in a reverse wager, keeping it to two or three teams simplifies things and reduces risk.
- Keep an Eye on Your Budget: Reverse wagers involve multiple bets, so the cost can add up fast. Make sure you’re managing your bankroll wisely.
Pros and Cons of Reverse Wagers
Pros:
- More Ways to Win: Even if not all teams win, you can still take home some money.
- Lower Risk Than Parlays: You’re not risking everything on one bad pick like in a parlay.
- Potential for Big Payouts: If you include underdog moneyline bets, the payouts can be substantial.
Cons:
- Lower Payouts Than Parlays: Because you’re hedging your bets, the payout isn’t as high as a full parlay.
- Complex: Understanding reverse wagers can take some getting used to, especially for beginners.
- Risk of Higher Losses: If both teams lose, you’ll lose more than if you’d made a straight bet on just one team.
Conclusion
A reverse wager can be a fun and strategic way to bet on sports. It offers more flexibility and reduces the risk compared to a traditional parlay. While it doesn’t promise the huge payouts of parlays, it provides more chances to win, even if all your picks don’t come through. Just make sure to manage your bankroll wisely and focus on teams you’re confident in. Whether you’re betting on football, basketball, or another sport, reverse wagers are a solid tool to have in your betting arsenal.
Frequently Asked Questions (FAQs)
What’s a reverse wager?
A reverse wager combines multiple if bets, giving you more chances to win by covering all potential outcomes.
How is a reverse wager different from an if bet?
A reverse wager covers both combinations of if bets, while an if bet only places a second bet if the first one wins.
What sports can you bet on with reverse wagers?
Reverse wagers are popular in football, basketball, baseball, and hockey.
Can reverse wagers include moneyline bets?
Yes, you can include moneyline bets in a reverse wager, which can increase your payout, especially if you bet on underdogs.
Are reverse wagers safer than parlays?
Yes, reverse wagers are less risky than parlays because they give you more chances to win even if one of your picks loses.
How many teams can you include in a reverse wager?
You can include up to four teams in a reverse wager, creating multiple if bets for each team.