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PLACEMYBET - BETTING RULES

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There have been 21 changes from Monday, Apr 18, 2011 to Tuesday, Apr 22, 2008. - Back to Betting Rules Home
Note: The following text is provided as is from the sportsbook's website.
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Sports Wagering
Sports betting is a game of skill. The challenge is to gather and analyze as much information as possible, weigh the probabilities, and subsequently compare your opinion to the oddsmaker's. Make the right judgment and you win. It's as simple as that.

Types of Basic Sports Wagers
The most common type of sports wager is on the result of a single game, known as a straight wager. One team is typically favored over another by a pointspread; the favorite gives the underdog points as a head start for betting purposes only.

The favorite is always indicated by a minus sign (e.g. -3) and the underdog by a plus sign (e.g. +3). The amount of points a customer must give is estimated to be the amount which will generate equal wagering on both the underdog and the favorite. For betting purposes, the result of the game is determined by taking the actual score and subtracting points from the favorite's score or adding points to the underdog's score.

So, a favorite can win the game but lose it for betting purposes and an underdog can lose the game but win it for betting purposes. In all straight bets which are set by a pointspread, the customer lays $11 for every $10 the customer wishes to win.

For example, the Green Bay Packers may be favored by 14 points over the Chicago Bears. A customer who wishes to win $10 on Green Bay must give Chicago 14 points, if Green Bay wins by more than 14 points than the customer wins $10. If Green Bay wins by less than 14 points or loses outright, then the customer loses $11.

A customer can also bet whether the combined number of points or goals scored by the two teams in the game will be over or under the total set by the oddsmaker. For example, if the total is 32 and you believe that the combined points scored by the two teams will exceed that number, you would bet over 32.

A bet on a matchup between two teams may be set by a money line, or odds, instead of a pointspread. If a matchup is determined by a money line, like American baseball, then it will cost the customer more to wager on the favorite.

For example, the Atlanta Braves may be favored over the Chicago Cubs by 150. In this example, the customer must lay $150 in order to win $100 if Atlanta wins the game, no pointspreads are involved. If Atlanta loses, the customer loses $150. However, the customer could bet on Chicago, in which case the customer would lay $100 in order to win $150 if Chicago wins the game. If Chicago loses, the customer only loses $100, because Chicago is the underdog.

Sports Wagering Rules

PlaceMyBet.com Rules and Notices: Due to the fact that transmission of data over the internet is beyond our control, occasionally some bets submitted do not reach us. For you to be assured your bet was submitted properly, always check your'Open History' button, and see if the bet is there.

  1. If the bet is not in your Open History, please click your'Refresh/Reload' button on your browser, and this will start your session again with the appropriate balance.
  2. If the bet is not in your open history there is no bet, your balance was not affected on anyway.

We will not honor any bets said to have taken place, unless it is in your open or scored history sheet. Please when you submit a bet and you get an error. Do not try again until you check your'OpenHistory'. The bet might have gone in, this will prevent double betting.

Straight Bets
A wager on one event whose outcome for wagering purposes shall be determined by a point spread or money odds. All straight and total bets are 10/11 unless otherwise noted at the time of the wager. A customer lays $11 for every $10 player wishes to win. On all straight bets, if the favorite wins by the exact point spread the wager is a Push or "No Action."

Parlays
A parlay is the selection of 2 or more teams (up to 10) in no particular order in a single wager. All teams in the parlay must win, if there is a tie it reverts to the next lowest number for payoff. (Example: If you select 4 teams and one ties, it becomes a three team parlay). Tie and win on two teamer becomes straight bet (90% of wager) Parlay Payoffs/Odds for

Basketball and Football

2 teams - 13/5
3 teams - 6/1
4 teams - 10/1
5 teams - 20/1
6 teams - 40/1
7 teams - 75/1
8 teams - 150/1
9 teams - 300/1
10 teams - 700/1

Teasers
A Teaser is a selection of two or more teams in one wager in which the point spread is adjusted in your favor. The number of teams selected and the number of points selected determines the payout odds. A "Tie" or "No Action" and a "Win" on a two team teaser shall constitute a "No Action" wager. A "Tie" or a "No Action" and a "Loss" on a two team teaser shall constitute a "Losing" wager. Ties on a three or more team teaser shall revert to the next lowest betting bracket. (Example: A tie on a three team becomes a two team teaser.)

Teaser Payoffs/Odds for Basketball and Football

 Football - Points

 6

 6.5

 7

 Basketball - Points

 4

 4.5

 5

 2 teams 

 10/11

 5/6

 10/13

 3 teams

 8/5

 7/5

 6/5

 4 teams

 5/2

 2/1

 9/5

 5 teams

 4/1

 7/2

 3/1

 6 teams

 6/1

 5/1

 4/1

 7 teams

 9/1

 8/1

 7/1

 8 teams

 14/1

 12/1

 10/1


3 Team 10 point Football and 7 Point Basketball Teasers Odds are 10/12 - Ties Lose.

Wager Limits

NFL

* Regular limits $5500/5000 sides and $2200/2000 totals
* NFL Day of the game Limits: $11000/10000 Sides and $5500/5000
Totals
* Half times $1100/1000 sides and $550/500 totals
* NFL day or the game 1st half limits $5500/5000 and $2200/2000
* Quarters $500 side and total (always)

NCAAF

* NCAA Limits 1100/1000
* Day of the Game NCAA Limits 3300/3000
* NCAA Totals only on National TV Games 1650/1500
* Half Time limits 1100/1000 and Totals 550/500 TV Games only
* Added Games Remain 1100/1000 ALWAYS
* TV Added Games Side 1100/1000 and Totals 550/500
* TV Added Games Half Times Side 550/500 and Totals $ 550/500

Special Sports Wagering Rules

Las Vegas rules, regulations, payoffs and wager types apply where not covered herein.

All sporting events must be played on date and site scheduled unless otherwise specified. Sporting events postponed by more than 12 hours and or rescheduled, will constitute "No Action," and all money will be credited accordingly.

All bets must be made and accepted, before the start of the game/event wagered. Any bet placed or received after the start of the game/event wagered, will be void.

In the event that monies are credited to a customer's account, it is incumbent upon the customer to notify PlaceMyBet.com of the aforesaid error without delay. Any winnings realized after the error, whether directly or indirectly subsequent to the error but prior to notification of PlaceMyBet.com , shall be void.

PlaceMyBet.com does not recognize suspended games, protests, scoring amendments, result reversals and overturned decisions for wagering purposes.

In order for a bet to be valid, a customer must receive a bet number confirming from PlaceMyBet.com that the bet has been accepted.

Account Suspended

This will be via a confirmation message that will appear on your screen.

Once accepted bets cannot be canceled or amended in any way, either by the customer or by Management

Every effort will be made to ensure that all information available on the the Internet site is accurate. However, if an error is made in the prices or conditions published on-line, we reserve the right to correct any mistakes and to settle any bets already laid at the correct price.

Winners and losers are official after:

Football - NCAA & NFL - 55 minutes of play

Basketball - NBA - 43 minutes of play

Basketball - NCAA - 35 minutes of play

Hockey - NHL - 55 minutes of play

All other sporting events - 55 minutes of play

Overtime periods, quarters or extra innings are counted in the final score when wagering on totals, money line and spread betting.

On half time wagers, overtime periods are included as part of the 2nd half.

Other Sports: All other contests that involve a scheduled length of play or time limit must play to their conclusion or have five minutes or less of the scheduled playing time remaining when the contest concludes to be considered official for wagering purposes.

Points can be bought in football for the complete game only. They can be bought for point spreads and totals. For every half point bought the charge will be 10 cents, except for NFL sides when buying on or off the number 3, in which case there will be an additional 10 cent charge. You may buy up to 3 points.

BUY LAY
½ -120
1 -130
1½ -140
2 -150
2½ -160
3 -170

If the current line for 49ers is - 4, and you buy 1 point, the final line will be 49ers -3, yet, because the adjusted line is 3 you must lay -130 plus an extra 10 cents, so the 49ers -3 buying 1 point will cost you $140 to win $100.

Special Major League Baseball Rules
Major League Baseball games are official after 5 innings of play, or 4.5
innings if the home team is leading. If a game is subsequently called or
suspended, the winner is determined by the score after the last full
inning unless the home team ties the score or takes the lead in the
bottom half of the inning. Then the winner will be determined by the
score at the time the game is called. When wagering on total runs or run
lines, the game must go the regulation 9 innings, or 8.5 innings if the
home team is leading, otherwise it will constitute a "No Action" wager,
and all money will be credited accordingly. Wagers on total runs will be
refunded if a pitcher change occurs prior to both listed pitchers
throwing at least one pitch.

Baseball wagers are accepted as "Listed Pitchers". In the event of a
pitching change prior to the game, all wagers on that game are
considered 'No Action'. All wagers will be refunded to the customers
account.

In Baseball, All games that go at least the full 9 innings and finish tied
as a result of a suspension of play, shall be graded as a push on all money
line bets. However, all run line and total bets will have action. Note,
though, that this is an extremely rare occurance, and thus the Las Vegas
rules for this event are not at this point set in stone. In the event of a
change in Las Vegas rules, IOE will adhere to the decision set forth in Las
Vegas.

Baseball Series Prices
Baseball 'Series Price' wagers must have all 3 games played by the end of a specified date for wagers to be deemed "Action". If all 3 games are not played by that specified date then all wagers are "No Action", regardless if one team has 2 wins. All 3 games must be official by Las Vegas Gaming Standards (see above baseball rules). If PlaceMyBet.com provides a baseball series price for a series that has four games, for grading purposes, the wager is based on the initial three games.

Baseball Propositions
All baseball props must go the full 9 (8 1/2 if the Home Team is Winning) innings unless otherwise stated. In the event of a pitching change prior to the game, all wagers on the game with said listed pitchers are considered "No Action".

First Five Innings Bets are listed pitchers and the game must go a Full 5 Innings to have action regardless if the game is called or postponed after the 5th Inning.

Team to Score First Props are listed pitchers and will be graded as soon as the first team scores and once the home team has at least a chance to bat. If the home team scores first, that bet will be graded at that time and bets are action regardless of game suspension or postponement. If the visiting team scores first the bet will be graded once the home team has completed their at bat.

Will there be a Score in the First Inning Props are listed pitchers and will be graded as soon as the First Inning ends, all bet are action regardless of game suspension or postponement.

Total Runs+Hits+Error Props are listed pitchers and the game must go a full 8.5 Innings for bets to have action.

Baseball Player and Pitcher Props are listed pitchers. The game must go a full 8.5 Innings for bets to have action. If there is a pitching change, all player props for that game will be closed immediately and when the game starts and its confirmed that a different pitcher threw out the first pitch other than the listed pitcher, those props will be graded No Action.

Boxing

In boxing, the official stopping of a round before the sounding of the bell does not constitute a full round. A full round is only considered for wagering purposes when the bell sounds signifying the end of said round.

Golf

For tournament matchup betting all of the players listed in the matchup bet offer must tee off for your bet to have action. The player with the most completed holes wins. If the players complete the same number of holes, then the player with the lowest score wins. If the players are still tied then the wager will be No Actioned and all monies will be refunded. If both golfers in a match-up are in a playoff: a) winner of play-off wins matchup and b) all other playoff participants tie each other.

Should a tournament be shortened, or otherwise affected, due to weather conditions the official result will be used when settling, regardless of the number or rounds played. However, should there be no further play after a bet is struck that bet will be void.

Single day matchups are wagers on the particular day's 18-holes. Single Day mathups do not include holes played as part of a completion from the previous day's round nor playoff holes considered part of the overall tournament score. Should a day's round be shortened, or otherwise affected, due to weather conditions and the round is continued the next day, the full 18 holes will are considered in determining the outcome of the bet even if they are played over two days. If a full 18 holes are not completed by both members of the matchup, all bets are void. If both players end the 18 holes in a tie, the bet is considered a no action wager.

Stroke Line Betting
In golf the lower score wins. If you bet (-1/2) a Stroke your golfer must shoot 1 or more shots lower than the opponent. If you bet (+1/2) your golfer must shoot the same score or a lower score than the opponent. Example: You bet Singh (-1/2) vs Mickelson. Singh shoots 69, Mickelson 70. Singh (-1/2) is the winner. Singh shoots 69, Mickelson shoots 69, Mickelson (+1/2) is the winner.

European Football

All football bets will be settled on 90 minutes play, this includes any time added by the Referee in respect of injuries and other stoppages. Extra Time, Golden Goals and Penalty Shoot-Outs do not count.

For bets on European football, in order to place your PlaceMyBet.com bet correctly, you must predict the result of at least one (1) game:1=home win, 0=draw, 2=away win. The customer can, of course, bet a parlay (or "combination"), but must get all the selections correct in the parlay column.

Bets taken on'first goalscorer' will be void if the player does not take part in the game or comes on after a goal has already been scored. Bets taken on'last goalscorer' will be void if the player does not play or come on as a substitute.

If any match is abandoned, or postponed, all bets will be void unless the relevant market result has already happened; for example,'first goal scorer betting, which will stand if a goal has already been scored. Where a venue is changed, bets will stand unless the game is to be played at the original away team's ground in which case all bets will be void.

Cricket

For Cricket games, if the match is shortened by the weather, bets will be governed by the official competition rules.

Rugby

For Rugby Games, if any match is abandoned or postponed all bets will be void, except bets on the first try scorer if a try has been scored prior to abandonment. Where a venue is changed, bets will stand unless the game is to be played at the original away team's ground in which case all bets will be void.

Tennis

For Tennis Match betting, in the event of a match starting but not being completed, the player progressing to the next round will be deemed the winner. In the event of any of the following circumstances taking place all bets will stand: (i) a change of playing surface, (ii) a change of venue or (iii) match is delayed to the following day due to inclement weather.

NCAA Basketball

In the event of a tie in NCAA conference wagering, the team entering the conference tournament 'seeded' higher shall be deemed the winner.

NCAA Football

For College Football Conference Odds that don't have a Conference Championship Game (PAC 10, ACC and Big 10 Conferences) if there is a tie for First Place by one or more teams, the higher Ranked Team in BCS Poll released prior to the Bowl Season will be deemed the WINNER


Motorsports

When placing a wager on "Odds to Win" a race, your wager shall be 'No
Action' should the driver not start the race. Both drivers must start
the race in 'matchup' wagering for the bet to have action. The start of
any motor race is defined as the signal to start the warm-up lap. The
official winner at the conclusion of the race will be the winner for
betting purposes. In league championship wagering, drivers must race in
at least one race during the season to be deemed 'action'.

Special Motorsport Rule: Races must be run within one week of the
scheduled date for your bet to have action.

The race must complete the scheduled number of laps and/or distance for
specific proposition wagers (pertaining to number of laps and/or
distance) to have action. Matchups, Finishing Position Props and Future
wagers will still have action regardless.

Parlay or Multiple Betting

Parlay or Multiples Betting. No multiple (parlay) bets can be accepted where individual legs are'connected'. For example, one leg of a parlay is for Sampras to beat Agassi in the 4th round of Wimbledon and the second or additional part of the parlay is for Sampras to win the overall Wimbledon title. The match forms part of the overall tournament and is therefore'connected'. In the same way, you cannot parlay the over of the first half of a football game with the over of the total game, because the two are'connected'.

Dead Heat Rule
In the event of a dead heat (a tie), stakes will be divided by the number of selections dead heating with the divided stake settled at full odds, remaining stakes are lost. If the tie was a betting option, then the dead heat rule does not apply. The Dead Heat Rule only applies to Future Wagers. For example, if there is a 3 way tie for the Top Scorer in a Football game. Then your winnings are calculated by taking your stake, dividing it by 3, and multiplying that amount by the odds on your betting ticket.


Multiple Accounts
Customers may not open multiple accounts, performing such an action may
trigger an audit on your account.

Customer Address
It is the responsibility of the customer to ensure that we have their
current address on file at all times. Customers may only have one address
on file at a time, and this address MUST match the billing address of ALL
cards that have been used on the account. Any failure on the customer's
part to do this may result in an audit on the customer's account.

Multiple Credit Cards
The maximum number of credit cards allowed for use in one account is five.

PlaceMyBet.com reserves the right to at any time,
request documentation from a customer before releasing a withdrawal or for general auditing or identification purposes.

Initial Bonus Cash

Join PlaceMyBet.com and we will add a FREE 10% CASH BONUS to your initial deposit. That’s right, when you make your first initial deposit we will add a 10% Bonus Free!  Join Now! 

Online Deposits = 10%
All other Methods = 10%

Online deposits are Credit Card, Firepay, Neteller (all instant online).
Offline deposits are Western Union, Bankwire, ACH, CC over the Phone

Promotions

If as part of a promotion offered by PlaceMyBet.com you receive betting cash, you can only use such amount as wagers for playing in the games offered by the company. You are not entitled to withdraw such amounts and we reserve the right to reclaim those amounts if you do not use them to play the games during the period specified in the promotion.
· Customers who have an PlaceMyBet.com account are the only ones who can redeem promotional prizes and winnings from promotions. If you have more than one betting account, all promotional credits and/or winnings will be null and void and they will be deducted from your account.
· PlaceMyBet.com considers fraudulent customer behavior when a player wagers both sides of a game using a promotional bet (to bet at the same time on the favorite and the underdog) or using bonus money. Any money won playing both sides of the game will be deducted, together with any other promotional money deposited in the customer’s account
· PlaceMyBet.com reserves the right to modify any promotion rules or cancel promotions at its own discretion.

Free Bets

The following terms and conditions apply to all free bets:

·         One wager per member.

·         You must have funds in your wagering account to cover the cost of the free bet (usually $10) and this will be refunded. 

·         All sides must play in order for the bet to have action.

·         In case of tie, all bets will have ‘no-action’.

·         Wagering on both sides of this free bet or opening multiple accounts to take advantage of this offer will result in non-payment of all free wagers in the related accounts and a $5 penalty charge per free wager and may result in the disabling of the accounts and forfeiture of winnings.

·         The free bets are open to all active members who make a minimum of 5 sports wagers per week or total action of $50 in poker, casino or horses per week.  Making only free bets may result in the disabling of the accounts and forfeiture of winnings.

Casino
"In the event of a customer winning in excess of $50,000 on a progressive jackpot in any of the casino games where it is offered, customer agrees to have their picture taken while receiving a check from one of our representatives and gives PlaceMyBet.com the exclusive right to use the photo material at it's own discretion. The weekly limit on winnings of $100,000 does not apply to progressive jackpot winnings."

Referral
"All referral claims for credit must be made within 60 days of your
friend/aquaintance (the referee) signing up"

"Neither player (referrer and referred) may withdraw referral bonus funds until fully earned by the referred player."

WARNING: GAMBLING INVOLVES RISK. BY GAMBLING ON THIS WEBSITE, YOU RUN THE RISK THAT YOU MAY LOSE MONEY OR SUFFER PSYCHOLOGICAL INJURIES. YOU GAMBLE AT YOUR OWN RISK.



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Last Updated: November 2, 2007 9:26 PM (GMT)Account Has Been Suspended


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