Welcome to Betting 101, your one-stop shop to educate yourself - or brush up on your knowledge - as you get going with ESPN BET & Hollywood Casino. We'll break down the terminology, explain our promotions (spoiler: say goodbye to confusing playthrough requirements), and go over the most popular bet types.
All About Promotions:
Eligible Cashback 🙏
There are two ways that you can earn Eligible Cashback: 1) by meeting the requirements of a promotion where Eligible Cashback is the reward, or 2) as a discretionary award from ESPN BET. For example, a promotion could say, "Make a deposit and we'll match it with an Eligible Cashback reward.” Once awarded, your Eligible Cashback will then unlock into real, withdrawable cash at a specified rate as you place eligible bets (odds must be greater than -200) - WIN OR LOSE! Yes, that's correct. As you play, your Eligible Cashback unlocks into cash. Gone are the days of playable balances and rollover requirements! Here's what you need to remember:
- You earn cashback on all eligible bets - WIN OR LOSE! 🐐
- Your unlocked cashback is fully withdrawable 💰
- Once you unlock your cashback, it cannot be revoked once the reward has expired! 🤯
EXAMPLE: You receive an Eligible Cashback reward valued at $1,000 with a 10% cashback rate and a 30-day expiration period. As you place eligible cash bets over the next 30 days, you will unlock 10% cashback on your staked amount (odds must be greater than -200) for your next $10,000 wagered of eligible bets. So, if you have an Eligible Cashback balance of $1,000 and bet $100 cash on a wager with odds greater than -200, you will get $10 back into your cash wallet, and your Eligible Cashback balance will go down to $990, allowing you to still unlock another $990 in cashback! Remember, you will unlock cashback whether you WIN OR LOSE the eligible wager!
Bets that are voided, no-actioned, or cashed-out early are not eligible.
Bonus Bets 🥳
A Bonus Bet is a reward that can be used to place a bet on any sports market. When you play with a Bonus Bet, you don't need to risk your own cash to use it. Not a penny. If you win, you'll receive the winnings back in cash. If you lose, it will not impact your cash balance.
However, while Bonus Bets can be used in place of Cash wagers, it is important to note the differences between the two. Bonus Bets cannot be withdrawn from your wallet, they must be played. Also, if you win a cash wager you’ll receive your initial bet back plus your winnings, but if you win using a Bonus Bet you’ll receive only the winnings back. And, when using your Bonus Bet you must use the full amount you were credited on one bet, it cannot be split up.
EXAMPLE: You are credited a $10 Bonus Bet from a promotion. When redeeming your Bonus Bet, you can only place a $10 wager, you are not able to place two $5 wagers with your Bonus Bet.
PENN Play™ Credits
PENN Play™ credits are a playable balance that may be redeemed on Sportsbook wagering and are subject to a one time wager requirement. PENN Play™ Credits may be earned through ESPN BET or by redeeming PENN Cash on ESPN BET in accordance with the PENN Play™ Loyalty Program. PENN Play™ Credits used on ESPN BET are restricted to lines greater than -200 (Example -110, +100, +200). If the sportsbook bet is graded as a win, the stake amount and winnings will automatically convert to real cash in your ESPN BET wallet upon settlement.
Let's talk terminology:
All About Odds
The most popular odds format used on ESPN BET is American Odds, which come in both positive and negative values. These values correspond to the payout you receive if you win your bet. Negative odds (-) are related to outcomes that are more likely to happen, decreasing the payout to less than the amount wagered (the favorite). Positive odds (+) are related to outcomes that are less likely to happen, increasing the payout to more than the amount wagered (the underdog).
Bet Types:
Money Line
A simple straight bet, selecting which side will win an event.
Spread
A spread is a bet on whether or not a team or player will cover a certain number of points/runs. These lines are available pregame and in-play.
In this example, any victory by New York by more than 1.5 points would result in a winning bet.
Over / Under
An over/under is a bet on whether the total number of points for a specific game, team, or player will be over or under the listed score line.
Prop Bets
Proposition bets, or prop bets, are the other listed bet options outside of the scoring and game outcome bets. You can expect to see prop bets in two forms: game props and player props.
Futures
A futures bet is a bet on an event that will be decided in the future, typically an end-of-season result or a major tournament/championship.
Straights
This one's simple: a straight bet is a bet on only a single outcome.
Parlays
A parlay is a bet where you add multiple selections, or parlay legs, from the same or different games. By placing a parlay instead of several straight bets, you are increasing your potential payout. However, if any leg of the parlay loses, the whole bet loses. On ESPN BET, you can place a parlay ranging from two-to-15 legs.
A preset parlay is where two or more markets are packaged together. All legs on the bet must be successful in order for you to win.
Same Game Parlays with Parlay+™
Similar to standard parlays, Parlay+™ allows you to combine multiple legs into a single bet, but this time, your picks can all come from the same game. This means that you can mix and match game lines, game props, and player props from a single matchup all into one bet. PLUS, you can even combine same game parlays with each other and/or other straight bets to increase your potential payout even more.
Build your Parlay+™ by finding eligible games and markets designated by the green P+™ icon in the app. Once you’ve made your picks, you can find your same game parlay in the Parlay+™ tab of your betslip.
Live Betting
In-play betting, also known as "live betting," allows you to place wagers on an event that has already started. The odds on available markets will automatically adjust to reflect the current state of the event, including changes in scoring, injuries, time remaining, and so on.
Quick Bets
Quick Bets are a new form of in-play betting, and will be offered in real-time, for short periods of time, as an event progresses, and can be accessed by clicking on the lightning bolt icon within an event. With Quick Bets you can expect to see a variety of markets offered dependent on each league. For example:
- NFL: see 'Next Play', 'Drive', and 'Player' markets.
- NCAAF: see 'Next Play' and 'Drive' markets.
- MLB: see 'Plate Appearance', 'Next Pitch', and 'Half Inning' markets.
Odds Boosts
Odds boosts are enhanced odds on special betting markets.The odds are moved in the favor of the bettor when boosted, and we usually post new odds boosts daily.
Fast & Secure Transactions 🤝
Now that you’ve joined ESPN BET, you're ready to make your first deposit and to start playing.
ESPN BET offers several fast and secure deposit options:
- Instant Bank Transfer 💵
- Debit Card 💳
- Credit Card (where available) 💳
- Paypal 📱
Tools to Help You Play Responsibly
ESPN BET wants you to play responsibly. So we've built some tools right into our app to help you set your own limits or hit pause when you need to.
You have the ability to set daily time limits (to control how much time you can spend on ESPN BET), deposit limits (to control how much you can deposit), and spend limits (to control how much you can spend).
If you want to take a break from playing with us, you can take a cool-off. Cool-off times range from a minimum of 3 days up to 4 weeks. If you need a longer break you can also self-exclude for 6 months, 1 year, 5 years, or permanently.
To understand all of the limits that are available to you, please visit https://espnbet.zendesk.com/hc/en-us/categories/19672961162125-Responsible-Gaming
Key Terms
Betslip
A betslip is where you build and place your bet. From your betslip, you can choose how much you want to stake, whether it be in cash or as a bonus bet, and your corresponding "to win" and "return" amounts will be adjusted accordingly.
Open Bets
Open bets are bets that have been placed and have not yet settled.
Settled Bets
Settled bets are bets that are no longer pending because the result of the bet has been determined. If your bet settles as a win, you will receive your winnings. If your bet settles as a loss, you will not receive anything. If the bet is deemed to be a "push" or "no action," the amount you staked will be refunded to your wallet.
Limits
All markets are subject to the limits set by the oddsmaker. Depending on a wide variety of circumstances, all bets will have a maximum amount that is allowed to be wagered.
Cash Out
You can Cash Out a bet after it's been placed. Typically, this will be for less money than what was originally staked on the bet, but if the odds have since shifted in your favor, you can cash out your winnings early.
Payouts
A payout, also known as the "total return," is the amount you receive if your bet settles as a win. When betting with cash, the payout includes the amount staked on the bet plus the potential winnings. If your winning wager was placed with a Bonus Bet, then you will only receive the potential winnings back.
ESPN BET is operated by PENN Entertainment, Inc. and its subsidiaries ("PENN"). ESPN BET is available in states where PENN is licensed to offer sports wagering.
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