When it comes to sports betting, there’s a number of wager types available for you to choose from. Understanding these different types of bets is important for making informed betting decisions. This article will explain the most common types of sports bets available out there.
Moneyline Bets
Moneyline bets are the simplest and most popular type of sport bet, as you are betting on which team or player will win the game or match. Each team or player is assigned ‘odds’, which can be positive or negative. Positive odds indicate the underdog, while negative odds indicate the favorite. For example, a money line bet on Team A (-150) means you would need to bet $150 to win $100 if they win, while a moneyline bet on Team B (+200) means you would win $200 for every $100 wagered if they win.
Point Spread Bets
Point spread bets are mainly used in sports like football and basketball. In a point spread bet, the sportsbook sets a margin of victory that the favored team must win by in order to cover the spread. The underdog, on the other hand, can win the game or lose by less than the spread to cover. For example, if Team A is favored by 7.5 points, they must win by 8 or more points for a bet on them to be successful.
Over/Under Bets
Over/under bets, also known as totals, involve wagering on the combined score of both teams in a game. The sportsbook sets a predicted total, and you can bet on whether the actual score will be over or under that number. For example, if the total for a basketball game is set at 200 points, you can bet on whether the final score will be higher or lower than 200.
Parlay Bets
A parlay bet combines multiple individual bets into a single sports bet. To win a parlay bet, all individual bets included in the parlay must be successful. The advantage of parlay bets is that they offer higher payouts compared to individual bets. However, the risk is also higher since all bets must win for the parlay to be successful.
Prop Bets
Proposition bets, or prop bets are sports bets on specific events or occurrences within a game that may not directly affect the final outcome. Prop bets can be related to individual player performances such as the number of points scored or assists made. They can also be game-related, such as the first team to score or the total number of goals in a soccer match.
Futures Bets
Futures bets are long-term wagers placed on events that will occur in the future, such as the winner of a league championship or the MVP of a sports season. These bets are usually made well in advance and offer the potential for significant payouts. However, they require patience, as the outcome may not be determined for weeks or months.
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