A system and method for sports betting that awards pay outs based upon the difference between the actual and predicted results ("Pay Per Point"). In a preferred embodiment of the invention, the Pay Per Point bettor may place any or all of three different bets: 1) spread-line bet, 2) event-total-line bet, 3) team-total-line bet. For the spread-line bet, the bettor collects a pay out based upon the difference between the actual score and predicted spread-line. For the event-total-line Bet, the bettor collects a pay out based upon the difference between the actual score and predicted spread-line.