If you’re new to sports betting, one of the first things you’ll need to understand is the different types of bets that are available. Each type of bet offers its own advantages and disadvantages, as well as its own potential payouts and risks. Here are some of the most common types of bets you’re likely to encounter:
Moneyline bets
A moneyline bet is the simplest and most straightforward type of bet. With a moneyline bet, you’re simply betting on which team will win the game. The odds for each team will be expressed in a negative or positive number, indicating how much you’ll need to bet to win $100, or how much you’ll win if you bet $100. For example, if a team has odds of -150, you’ll need to bet $150 to win $100, while if a team has odds of +150, you’ll win $150 if you bet $100.
Point spread bets
A point spread bet is a bet on the margin of victory in a game. The favorite will be given a negative point spread, while the underdog will be given a positive point spread. If you bet on the favorite, they’ll need to win by more than the point spread for you to win your bet. If you bet on the underdog, they’ll need to either win the game outright or lose by less than the point spread for you to win your bet. The odds for each team will be expressed in a similar way to moneyline bets.
Over/under bets
An over/under bet, also known as a totals bet, is a bet on the total number of points scored in a game. The bookmaker will set a total, and you’ll need to bet on whether the actual total will be over or under that number. The odds for each side of the bet will be expressed in a similar way to moneyline and point spread bets.
Futures bets
A futures bet is a bet on the outcome of a tournament or season before it begins. For example, you might bet on which team will win the Super Bowl at the beginning of the NFL season. The odds for each team will be expressed in a similar way to moneyline bets.
Parlay bets
A parlay bet is a bet on two or more outcomes. For example, you might bet on the winner of two different games. To win the parlay bet, both outcomes need to be correct. The potential payout for a parlay bet is higher than for individual bets, but the risk is also higher.
Teaser bets
A teaser bet is a type of parlay bet where you can adjust the point spread in your favor for each game. However, the potential payout for a teaser bet is lower than for a parlay bet, since the odds are adjusted in your favor.
Prop bets
A prop bet, short for proposition bet, is a bet on a specific event within a game. For example, you might bet on which player will score the first touchdown in a football game, or how many points a player will score in a basketball game. Prop bets can be a fun and creative way to bet on sports, but they also tend to offer lower payouts than other types of bets.
These are just a few of the most common types of bets you’ll encounter when betting on sports. However, there are many other types of bets available depending on the sport, the bookmaker, and the specific event. Here are a few other types of bets you might come across:
Live betting
Live betting, also known as in-play betting, is a type of betting that takes place while the game is still in progress. With live betting, you can place bets on a variety of outcomes, such as which team will score the next goal or which player will score the next basket. Live betting can be a fun and exciting way to bet on sports, but it requires quick thinking and a good understanding of the game.
Round robin bets
A round robin bet is a type of parlay bet that covers all possible combinations of a set of bets. For example, if you wanted to bet on three different games, you could create a round robin bet that covered all three combinations of two-team parlays. Round robin bets can be a good way to spread your risk and increase your chances of winning, but they also tend to have lower payouts than standard parlay bets.
Head-to-head bets
A head-to-head bet is a bet on the outcome of a specific matchup within a game. For example, you might bet on which player will win a one-on-one matchup in a basketball game. Head-to-head bets can be a fun and engaging way to bet on sports, but they also tend to offer lower payouts than other types of bets.
No matter which types of bets you choose to make, it’s important to always gamble responsibly and never bet more than you can afford to lose. Betting on sports can be a fun and exciting way to enjoy your favorite games, but it’s important to always do your research, stay informed, and make informed decisions. By understanding the different types of bets available and choosing the ones that best fit your strategy and goals, you can increase your chances of success and enjoy a rewarding and enjoyable betting experience.
