HELENA — The Montana Lottery has announced sports betting parameters, and players could potentially be able to start making bets as soon as mid-March.
The Montana Lottery Commission voted Feb. 20 to approve the kinds of bets people can make, and which sports they can bet on for “Sports Bet Montana.”
The approved professional and collegiate sports are: basketball, baseball, ice hockey, football, soccer, tennis, boxing/MMA, golf and motor sports.
Approved bets include: moneyline, over/under, in-game betting, parlay, spread, prop bets and future bets.
The Lottery expects to begin to place Sports Bet Montana terminals the week of March 9. Once the terminal is in place and training has been completed by staff, the licensed location will immediately be able to offer sports wagering.
The Montana Lottery says due to the large distances training staff will have to cover, they’ll be soft rolling out the program. Lottery staff will travel to a community and work through all the licensed establishments as quickly as possible, depending on location availability.
Here is a breakdown of the approved betting types and how they’ll work with Sports Bet Montana.
- Moneyline bet: Moneyline is a term for the game/match winner. Money line is offered as a head to head bet with no spread. The player is betting on one side simply to win.
- Over/under: Sometimes described as a total bet, over/under is a bet on the total combined score of both teams or player stats. The player selects if the total score for the event will be lower or higher than the line that is set.
- In-game betting: this is when you place a bet on an event in a game while it is happening.
- Parlay: A parlay bet allows the player to combine multiple bets together into one single wager. Players get increased odds if all their bets win; however, if any one of the bests lose, the entire wager is lost.
- Prop bet: Proposition bets are wagers on a very specific outcome during an event that does not relate to the final score. For example, betting on a hole in one happening at the Masters Golf Tournament.
- Spread: Spread or point spread is the number of points by which the better team is favored over the underdog.
- Future bet: A future bet is made for an event that is taking place sometime in the future, usually on a team to win a series or a championship.
The Montana Lottery will roll out their new Sports Bet Montana website in the near future. The site will show players how they can sign up for the Sport Bet Montana app, and have tutorials explaining how each sports wagering bet in the program works.
Caps for betting have been set at $250 through the kiosk and $1,000 through the mobile app. Winnings have been capped at $100,000. There will be a warning in situations where the pay out would have been greater than $100,000 before the player makes the bet.
The Montana Lottery currently has more than 120 establishments across the state that have been granted licenses for sports wagering.