DISCLAIMER: FOX Bet Sportsbook Michigan closed in July 2023 and will not reopen. Here is a look at the best online sportsbooks to sign up with in February.
Top Michigan sportsbook welcome bonuses in February 2024
FOX Bet is now live, loud, and ready to accept your sports wagers in Michigan. The sportsbook opened its virtual doors in January 2021 to residents and visitors in the Great Lake State. Try out FOX Bet with an up to $50 first bet on FOX Bet today!
In terms of integration with an actual sports media provider, FOX Bet is largely unrivaled. The book represents a joint venture between the Stars Group (owner of PokerStars) and FOX Sports.
As a result, you can have a truly multimedia experience if you use the FOX Bet app. FOX Sports personalities will offer their picks and tips on the app, and you can enhance your experience by watching the channel itself.
If you’re a fan of FOX Sports or are interested in learning more about the sportsbook, welcome. This page has all the latest details, updates, and bonus deals that FOX Bet has to offer.
As a sports bettor, you probably cannot get closer to the game than with FOX Bet. So, if you are a sports nut at heart, FOX Bet may be just the place for you.
Fox Bet Michigan sign-up bonus is a $50 sign-up bonus
Fox Bet wants Michigan bettors check out its site, so it is making your first bet with it with a first bet on FOX Bet of up to $50. Simply use our links to sign up for your account, and follow these opt in steps to start betting today.
- Go to promotions tab/page
- Click on the FIRST BET ON US promotion
- Click View Challenges
- Hit Opt-In button no more than 7 days from registration
- Place first bet no more than 7 days from registration
Then just fund your account, and make your first bet. If it’s a winner, you collect your winnings as per usual. Congrats on a great start on your FOX Bet journey.
But if you lose that first bet? FOX Bet will refund your loss in the form of betting credits. You can’t withdraw them right away, but you can use them to make new bets on the site. Almost like the first bet never happened!
This offer applies to your first bet of any amount up to $50.
FOX Bet Sportsbook bonus code 2024
|FOX Bet Michigan Bonus Code
|Sign Up Offer
|Up to $50 first bet on FOX Bet
FOX Bet promotions
FOX Bet tends to run promos surrounding major sporting events like the Super Bowl and March Madness. Plus, regular odds boosts leverage the popularity and knowledge of various FOX Sports personalities, including:
- Rachel’s Double Up Bet Boost: Rachel Bonnetta singles out one bet to make a play on, and FOX Bet boosts the odds to double what is posted.
- The Wright Bet Boost: Nick Wright picks a parlay of the day, and FOX Bet boosts the odds.
- Lock It In Bet Boost: An expert panel of FOX Sports personalities analyzes betting opportunities live every Friday before picking the day’s best parlay. FOX Bet boosts the odds.
- Clay Travis Blood Bank Bet Boost: Clay Travis bets a pint of his own blood on his picks, and FOX Bet boosts the odds.
- Charissa Thompson’s Custom Bet Boost: Charissa Thompson proposes her own custom bet, and FOX Bet boosts the odds.
FOX Bet Michigan loyalty program
FOX Bet maintains a loyalty program. In fact, as a FOX Bet player you can participate in the same Stars Rewards program available to PokerStars poker and casino players.
Stars Rewards awards prize chests containing randomly determined cash rewards. There are six levels of chests. You get closer to obtaining a chest with each one you get and can track how close you are via a progress bar on the FOX Bet homepage.
How to sign up for an account at FOX Bet Sportsbook Michigan
FOX Bet Michigan makes signing up for a new account a simple and easy process that takes just minutes to complete.
You can sign up by clicking the “Join” tab on the FOX Bet homepage and entering just a minimal amount of personal information:
- No FOX Bet promo code required in Michigan
- Phone number
- Last four digits of your Social Security number
FOX Bet also asks you to create a unique username and password. Plus, you’ll need to provide answers to a couple of security questions.
Finally, FOX Bet uses geolocation technology to ensure you’re inside state lines and the last four digits of your Social Security number to verify your age and identity.
However, you may also need to provide a photo ID for verification.
Either way, you should be ready to make a deposit and start betting on sports at FOX Bet in a matter of minutes.
Is FOX Bet legal in Michigan?
Yes. FOX Bet Sportsbook is live in Michigan as of January 2021. FOX Bet’s parent company, The Stars Group, signed a deal with the Little Traverse Bay Bands of Odawa Indians that allows FOX Bet to run the casino’s retail and online sportsbooks. The retail sportsbook location is at Odawa Casino Resort in Petoskey, Michigan.
Sports betting was legalized in Michigan at the end of 2019, and retail sportsbooks were allowed to open starting March 11, 2020. Under Michigan gambling law, only existing casinos at the time sports betting was legalized were allowed to have sportsbooks. That includes 23 tribal casinos throughout the state and three commercial casinos located in Detroit.
FOX Bet sports betting app
You have a couple of options when it comes to making online wagers with FOX Bet Sportsbook. You can either use the FOX Bet website or the FOX Bet app. The app is free for both Apple and Android devices and means you are able to have FOX Bet Sportsbook with you and ready to use wherever you go as long as you have an internet connection. For this section we are focusing on the FOX Bet app, not the website, but the local and feel of both products are extremely similar.
Downloading and installing the Fox Bet Sportsbook app
Follow our links to get the FOX Bet app for you appropriate Android or iOS device. When you click on the link your iPhone/iPad or Android will ask if you want to download the file. You will select yes.
After the file has downloaded you now need to install it. You’ll click on the file and will be asked if you now want to install the FOX Bet app, and again you will select yes. Depending on your device you might need to use your facial or fingerprint ID or enter your PIN to authorize the download and installation.
After those steps are taken care of you’re ready to use the FOX Bet app.
FOX Bet app overview
Upon opening the FOX Bet sportsbook app you will either select the “Sign up” or “Login” buttons, which are located in the upper right corner of the page. If you have not yet signed up with FOX Bet we have instructions for doing so a couple sections above this one.
Once logged in, you are ready to get to checking out the app and placing your first sports bets. Here is a look at the most important parts of the FOX Bet Sportsbook app.
- Main page: Along the top of the FOX Bet home screen you will see tabs for the top sports to bet on at the moment. If you look to the far right of that there is a tab labeled “All” that obviously lets you see all the sports you can wager on at FOX Bet in Michigan.
Below that are links to the most popular bets being made, the FOX Bet promos page and results from different sports. Then there usually is a FOX Bet Super Boost followed by the top upcoming games, live games, Bet Boosts and FOX Bet #CustomBets.
- Account: You account can be found by selected the person icon at the top of the screen. Here you can view “Challenges” you have, visit the cashier to deposit or withdraw funds, view or update your personal details, change your settings, visit the FOX Bet help center or logout of your account.
- Promotions: The promotions page is one of the most important at any Michigan sportsbook. At FOX Bet you can find it by clicking the promotions tab near the top of the main page. Here you can see all the live promos being offer on the FOX Bet app. When you click on the individual promos you’ll see the terms and conditions for each, which is always good to check out so you know exactly how different offers work.
- Betslip: The FOX Bet betslip might go unnoticed as it’s in blue and located just below your account balance near the top right of the screen. When you place a bet it will display the number of bets you have in the betslip. And when you click on it, it will open and at that point you will be able to enter your bet amount, decide if you want to remove any bets or decide how you’d like to package your current selections.
The FOX Bet Sportsbook app is fairly intuitive and if you’re familiar with sportsbook apps you should not have any problems using it. The color scheme is bright and makes reading in bright or low-light settings easy. As for the FOX Bet app itself, we have hardly any complaints.
Best features of the FOX Bet Sportsbook app
The FOX Bet app has a lot to like about it, but what are the best features? We’re glad you asked, here’s a look at the three best features you will find on the FOX Bet Sportsbook app on both Android and iOS.
- Custom Bets: The top feature at FOX Bet is the ability to create custom bets that you otherwise would not be able to place. How does it work? All you need to do is tweet @FoxBet with #CustomBet on Twitter with your bet and they’ll take a look at it. If they can they’ll add it to the #CustomBet section on the FoxBet app. An example of a custom bet might be something like picking two Chicago Bears receiver to have 75 or more receiving yards in the same game. This also ties in with the @FoxBet Twitter account which is great as well. They have weekly giveaways every Friday, so be sure give @FoxBet a follow.
- Trending bets: Sometimes you know exactly what you want to bet on, other times you spend a long time trying to figure it out. That’s where trending bets comes in on the FOX Bet app. Under popular at the top of the main page you’ll see the bets that are the most popular right now. Sometimes it will be moneylines or spreads that are trending, while other times it will be prop bets. Either way it’s nice to get a feel for what other people are wagering on.
- Overall app functionality: The FOX Bet Sportsbook app is Michigan is one of the top ones on the market simply because of how well it works. Not only is it among the fastest in our opinion, but there’s not a lot of extraneous stuff going on to overwhelm you when using it.
How could FOX Bet Sportsbook improve?
While we just got finished telling you all the features we love about FOX Sports Bet, we still need to let you know about two areas where we believe FOX Bet in Michigan could be doing better. Let’s take a look.
- Too much self-promotion: It’s not surprising that a sportsbook that is partnered with FOX Sports would cross promote. But seeing Shannon Sharpe, Skip Bayless, Howie Long and Terry Bradshaw throughout the app just feels like a little overkill. Besides, how many sports fans in Michigan are betting on sports using the FOX Bet app and aren’t aware FOX shows sports on TV. Please, just give us a sportsbook and not an ad.
- Better bet boosts: Bet Boosts are great when done right. When done wrong they feel a little misleading. When we checked out some of the FOX Bet bet boosts over a couple days they were more in line with the regular odds at other sportsbook like DraftKings or FanDuel and at worst a few of the bet boosts actually had lesser odds than the regular odds at the FD and DK.
It really goes without saying that no matter how good a sportsbook app is, if the odds it offers aren’t on par with others in the state it just doesn’t make sense doing business with them.
Overall FOX Bet has competitive odds, but we’d like to see their bet boosts improve, otherwise don’t even both with offering them.
FOX Bet sports betting options
FOX Bet bettors can wager on the following sports:
- Boxing and UFC
- Rugby Union
Michigan sports betting guide
Obviously you can bet on all teams at FOX Bet Sportsbook, but betting on the local teams is one of the best parts about having legal sports betting in Michigan. So how about we check in with all the teams in the NFL, NBA, MLB and NHL from Michigan you can bet on, as well as the Division I college programs you can wager on, too.
The Detroit Lions play in the NFL’s NFC North Division, and you can wager on all their games at FOX Bet’s retail and online sportsbooks. The available betting options include moneyline, over/under, against the spread and prop bets. Live betting also is available.
Next there’s the Detroit Pistons, who reside in the NBA’s Central Division in the Eastern Conference. At FOX Bet you’re able to make bets before and during NBA games, and when you drill down into games on its website or app, you’ll find tons of prop bets and alternate lines that you can pick from. It even has prepackaged parlays to make selecting your bets easier.
On to Major League Baseball and the Detroit Tigers, which play in the American League’s Central Division. FOX Bet offers you the chance to bet on any or all of the Tigers’ 162 regular season games and hopefully postseason games as well. All the standard wagers are there for you at FOX Bet, but you also will find prop bet choices like Jonathan Schoop to homer and the Tigers to win, for example.
Closing the pro side of things out are the NHL and the Detroit Red Wings. The Red Wings are one of hockey’s most iconic franchises, and now you can wager on them thanks to FOX Bet. Just like the other pro leagues, your options for bets are abundant at FOX Bet. Pick your own spread or over/under and select from prearranged prop bets, including ones that have had the odds boosted.
Moving over to college football, there’s five Division I teams from Michigan that you can bet on at FOX Bet. Chances are you’re familiar with the top two, the Michigan Wolverines and Michigan State Spartans. The two schools play in the Big Ten Conference’s East Division and can be among those vying for the conference and even national title.
Playing in the Mid-American Conference’s West Division are three more Michigan schools, the Central Michigan Chippewas, Eastern Michigan Eagles and Western Michigan Broncos. While usually not in the same class overall as the Wolverines and Spartans, the three directional schools still are available to gamble on throughout the season.
Turning our attention to men’s college basketball and you have the five universities listed above as well as the Detroit Mercy Titans and Oakland Golden Grizzlies. Detroit and Oakland play in the Horizon League, which includes eight other teams.
Types of bets available on FOX Bet sportsbook
There are several types of bets available for players to choose from on the FOX Bet platform.
This includes unique features, like custom bet, live betting and a cash-out option.
The basic betting types available on FOX Bet include:
- Point spreads
- Money lines
- Totals (over/under)
- Round robins
FOX Bet also offers the following unique betting options:
In-game wagering (live betting)
In-game wagering, or live betting, is the process of betting on live games in the middle of the action.
For the most part, it’s standard wagers at odds that are adjusted as the action changes.
The FOX Bet “Custom Bet” feature allows you to create your own bet.
Propose a wager via Twitter using the hashtag #CustomBet, and FOX Bet will create odds for you to bet on if the bet is deemed a fair one.
‘Cash out’ option
FOX Bet offers a “cash out” option for some bets. This allows you to withdraw a portion of your winnings while you’re ahead, but before the outcome of a bet is determined.
FOX Bet makes “cash out” options visible on your bet slip.
FOX Bet futures betting
As was the case with our Michigan team betting guide, you obviously are allowed to place futures bets on all teams at FOX Bet Sportsbook, but getting to cheer on hometown college and pro teams and win money in the process is just one of the aspects that make sports betting great. So here’s our look at some of the Michigan specific angles in the FOX Bet futures markets:
- The Detroit Lions have a multitude of futures wagers to partake in at FOX Bet. You can pick the Lions to win the Super Bowl, the NFC or just the NFC North Division. You also can place an over/under wager on Detroit’s wins for the regular season. As for individual player options, there’s futures for the regular season MVP award as well as for the Defensive and Offensive Rookies of the Year.
- For the Detroit Tigers the choices are a little smaller at FOX Bet Sportsbook. You can wager on the Tigers to win the World Series or bring home the American League pennant. As for whether the sportsbook will have individual futures available, we’ll have to wait and see. During the 2020 season FOX Bet did not have futures for the CY Young and MVP award winners, for example, but that might have been due to the shortened season. We’ll keep an eye on it and let you know if it expands its MLB futures offerings.
- FOX Bet gives Detroit Pistons fans plenty of futures bets to consider. You can pick Detroit to win the NBA title, the Eastern Conference or the East’s Central Division. Betting on the team’s win total before the season is another popular bet you’ll have the chance to put money on at the sportsbook. Come NBA draft time you also can wager on whom the first pick of the draft will be. When it comes to player futures, you can expect to be able to bet on the regular season MVP award winner, as well.
- The NHL doesn’t always get as much love when it comes to futures, but they don’t call Detroit Hockeytown for nothing. At FOX Bet you can place futures on the Red Wings to win the Stanley Cup for the 12th time in their storied history, or just to win the Eastern Conference or Atlantic Division. During the regular season, you can gamble on which player will win the Hart Trophy, while during the playoffs you can bet on who will win the Conn Smythe Trophy.
As for the college game, your futures selections are a little smaller at FOX Bet, as they are at most sportsbooks.
For NCAA football action, you can wager on whether Michigan or Michigan State will win the Big Ten Conference or the overall national title.
For the 2020 season, futures were not available when it came to the Mid-American Conference, where Eastern Michigan, Western Michigan and Central Michigan play. Obviously that was due to the fact the season was postponed due to the COVID-19 pandemic. We expect that when play returns to normal you will be able to place futures on all three schools to win the MAC.
In NCAA men’s basketball you can wager on both the Spartans and Wolverines to win the title at season’s end. As for the other five Michigan Division I schools, they likely will not be listed on the board, unless they are expected to even be a fringe national title contender.
How to place a bet with FOX Bet Michigan Sportsbook
Placing a bet with FOX Bet requires you to log in to your account, create a bet slip and confirm your wager.
Fortunately, it’s a simple process.
Just log in to your account using the credentials you provided when you signed up.
Browse through the betting markets by sport using the tabs at the top of the page. You’ll see lines for NHL, MLB, Tennis and can narrow it down further to specific events, like the Super Bowl or the World Series. See a line you like and click on it. The line will be automatically placed into the bet slip on the right-hand side of the page.
Check the bet slip to make sure the odds are what you’re after and type in the amount you wish to wager in the space provided beside that figure.
FOX Bet will show you the possible return, the amount of your wager, the number of wagers you are placing on the bet slip, and the total payout for a win.
Click on the “Place Bet” tab to confirm the wager. Check the results after the game to see if you are a winner.
FOX Bet deposit and withdrawal options
You’ll need to get money onto FOX Bet to place wagers. Plus, you’re going to want to make sure you can easily withdraw the money you win from your bets.
FOX Bet provides several easy-to-use options for deposits and withdrawals.
FOX Bet provides a variety of ways for you to get money on the site to bet with. This includes cash, credit and online third-party payment processors.
Here are the different methods for depositing on FOX Bet:
- Credit or debit cards: FOX Bet accepts various credit and debit card transactions from Visa and Mastercard customers. Some issuing banks may not accept deposit requests from online gambling sites, so check with your issuing bank first.
- Instant e-check: FOX Bet allows deposits by instant e-check that draw against your bank account directly.
- Stars transfer: With Stars transfer, you can move money directly from your bank account to your FOXBet account.
- E-wallets: FOX Bet accepts deposits from third-party payment processors, also known as electronic wallets. This includes PayPal and Skrill.
- PokerStars Play+ Card: The PokerStars Play+ Card is a prepaid card you can buy, load and use to make a deposit with FOX Bet.
- PayNearMe: Take cash into a Family Dollar, 7-Eleven or CVS, and you can use the PayNearMe system to make a deposit with FOX Bet.
You can normally withdraw money from FOX Bet in a timely fashion using the same method you used to deposit. If withdrawals are not available with your deposit method, FOX Bet will help you make alternative arrangements.
FOX Bet withdrawal methods include:
- PayPal and Skrill
- PokerStars Play+ Card
How to make deposits and withdrawals on FOX Bet
The FOX Bet Cashier is easy to use, and you can set up the “Fast Deposit” feature with most deposit methods to make it even easier going forward.
Log in to FOX Bet using the same Stars ID and password credentials you provided on sign-up. Then, click the “Cashier” tab.
The cashier option is also available under the “More” tab.
First-time depositors will need to fill in the “Advanced Profile Form.” After that, you can make deposits with ease using your computer or mobile device via any of the available payment options.
Just click on the payment option of your choice and follow the prompts.
Withdrawing funds is almost as easy. Just click “Menu,” then “Cash out,” and follow the on-screen instructions.
Plus, fast deposits are now available, giving you a quicker way to fund your account.
Just look for the “Fast Deposit” logo beside your chosen deposit method. This gives you the option of enabling that deposit option as your fast deposit account, making it quicker and easier to get money on FOX Bet with this deposit method the next time you need to.
FOX Bet customer support
FOX Bet is a leader in a lot of areas. Customer support is not one of them.
Some sports betting operators maintain live chat lines and phone numbers that are staffed 24/7.
The only access to FOX Bet customer support, however, is through an email address.
That said, the response time to email queries is short, and no one is ignored.
Where is the FOX Bet retail sportsbook?
The FOX Bet retail sportsbook will be located at Odawa Casino Resort in Petoskey, Michigan. FOX Bet has a partnership with the Little Traverse Bay Bands of Odawa Indians, which owns and operates the casino that allows FOX Bet to run both the retail and online sportsbooks.
- Address: 1760 Lears Rd, Petoskey, MI 49770
- Sportsbook opening date: TBD
- Casino hours: 8am-4am
Is FOX Bet the best sportsbook in Michigan?
As of right now it’s probably not the best sportsbook in Michigan, but it still is one of the better sportsbooks in the state. FOX Bet is a newer name in the sports betting industry, and it’s safe to say it still is trying to make a name for itself.
FOX Bet Sportsbook’s app and website work well, and we don’t have any problems with what it’s doing. The question is simply whether it will be able to compete with the top sportsbooks like DraftKings and FanDuel, which appear as of right now to be two of the best in the industry.
Who is FOX Bet?
Born out of a partnership between worldwide leaders in sports broadcasting and online gambling, FOX Bet truly represents the future of online and mobile sports betting in the US by bridging the gap between sports wagering and the sports people wager on.
Thanks to a partnership between global online gambling giant The Stars Group (TSG) and the Little Traverse Bay Bands of Odawa Indians Gaming Authority inked in early January 2020, the future is now in Michigan. This partnership gives TSG it first-skin market access for all online gambling verticals in Michigan, including online and mobile sports betting.
TSG runs the FOX Bet sports betting brand in the US, thanks to its partnership with broadcasting giant FOX Sports. The Little Traverse Bay Bands of Odawa Indians operates three Michigan tribal casinos, the largest of which is the Odawa Casino Resort near Petoskey.
Both entities are still in the process of securing a license and regulatory approval from the Michigan Gaming Control Board. However, it appears that FOX Bet Michigan is coming to the state in 2020.
FOX Bet Sportsbook FAQ
Is FOX Bet Sportsbook safe?
Yes, although it can be difficult sometimes to tell whether an online sportsbook is a safe, legitimate site or an illegal offshore operation, when you navigate to FOX Bet Sportsbook in Michigan you can rest assured that you have reached a legal, licensed and regulated sportsbook. Laws governing each state are the same as far as requiring bettors to actually be within the state borders when gambling online. As long as you are at least 21 years old and actually present within the state, you can legally wager online via licensed sportsbooks in the State of Michigan.
FOX Bet also is able to operate legally in Michigan due to its licensing partnership with the Little Traverse Bay Band of Odawa Indians, the operator of the Odawa Casino Resort in Petoskey. Online sportsbooks were legalized in the Wolverine State in late 2019, with the National Indian Gaming Commission (NIGC) and Michigan Gaming Control Board (MGCB) set as the governing agencies. As an affiliate of a tribal casino, FOX Bet is regulated by the NIGC, while the state’s sports betting industry is under the MGCB.
What makes FOX Bet unique in comparison to other Michigan sportsbooks?
FOX Bet has access to advantages that other Michigan sportsbooks can only dream about. FOX Bet was formed through a partnership between sports media giant FOX Sports and established gambling expert The Stars Group. As a result, FOX Sports increasingly includes more and more sports betting coverage and tie-ins to FOX Bet Sportsbook in its daily network broadcasts. Since FOX Sports can reach over 100 million viewers in one weekend, FOX Bet has access to a huge potential customer base. FOX Bet also offers the unique Custom Bets feature, in which you can tweet your ideas for bets you would like to see offered on the site to @FOXBet on Twitter using the tag #CustomBet. If the sportsbook likes your idea, it may be offered on the site under the Custom Bet tab in the center navigation bar. In the legal sports betting world, FOX Bet has a bright future in terms of its creativity and access to sports media coverage.
How do the FOX Sports personalities fit into the promos?
FOX Bet offers regular Boosted Bet promotions with tie-ins to FOX Sports on-air personalities, such as hosts of network shows or broadcasters of live sporting events. You might see a Monday Night Football game broadcaster offer a pick that will then be offered on FOX Bet as a boosted odds bet. Friday’s The Herd with Colin Cowherd will offer up Cowherd’s hottest picks in the weekly Blazin 5 Boom Bet promotion that features an odds boost of 4x your wager. Cousin Sal’s Money Back Special leads to a weekly FOX Bet promotion that offers one of Sal Iacono’s insured bets, with losing wagers reimbursed up to $25 in bonus bet credits. You might also see FOX Bet Live host Rachel Bonnetta single out a wager that will receive a double odds boost promotion, or co-hosts Bonnetta, Sal Iacono and Clay Travis may come up with a joint pick for a boosted odds parlay promotion.
Who has better odds, FOX Bet vs. DraftKings vs. BetMGM?
While the wide variety of legal online sportsbooks in Michigan will allow bettors to do some shopping for the best odds, for the most part, odds among sportsbooks are largely comparable. A sportsbook offering odds much worse than its competitors will not likely be in business for long, while sportsbooks offering odds substantially better than the competition will be pounced on by sharp bettors. You will find minor differences in the odds offered by different legal sportsbooks in Michigan, but unless you’re making very large bets, those small differences won’t make much difference.
That said, FOX Bet may have a tendency to offer slightly better odds on the favorite. If you like to wager on the favorite, it will be worth the time to add FOX Bet to your shopping list. If you’re looking at wagers on the underdog for longer odds and larger payoffs, you may find better odds at DraftKings or BetMGM.
How are odds boosts different at FOX Bet in Michigan?
FOX Bet puts a lot of effort into its Bet Boost promotions and offers a wide selection wagers with odds boosted up to 4x your money. You will find current wagers offering boosted odds under the Bet Boost tab in the center navigation bar of the home page. FOX Bet has also offered daily odds boosts in the past tied in with daily FOX Sports programming, and still offers a number of regular promos involving on-air TV personalities several days a week. Many of FOX Bets boosted odds wagers will be risky, but they also will reward lucky bettors with significantly larger payoffs.