This is a combination set of two betting games, both of which are meant to be played while watching the appropriate sport (baseball or football) on TV. Players watch the live game and use the various events to gamble on the outcome.
In Odds-On Baseball, players bet on the likelihood of such events as singles, extra base hits, double and triple plays, etc. Similarly, in Odds-On Football players wager on the likelihood of touchdowns, field goals, running and passing plays, etc.
The player with the highest value in betting chips at the end of the game is the winner.