The exhilaration of sports gambling is unparalleled. Emotions fluctuate in tandem with the performance of the players on the field. It is not surprising that the popularity of sports betting is surging as more countries legalize the practice.
Wins and losses are simple concepts in sports betting. However, there are various forms of bets. Knowing the different types of bets gives you more wagering alternatives and increases your likelihood of winning because you know when to make which bet.
Types of Sports Bets
One of the fantastic things about sports betting is that there are so many options for wagering on a game. In addition to wagering on which side will win, you can also bet on total points scored, the margin of victory, and a wide variety of other wagers.
Let us go over some of the fundamentals of types of bets below.
Money Line Bets
Moneyline bets are simple and popular. You can also refer to a money line bet as a straight wager. Betting on a team’s Moneyline means betting on a win. You’re placing a wager on the outcome of a game. You can give up points by wagering on the favorite or receive points by betting on the underdog.
Cash-ins are only possible if the favorite wins by more than the predetermined set point thread. To “cover” the spread and win the wager, the underdog must either win by a margin greater than or equal to the point spread. Ties are “push ties” in this scenario. No money is at stake.
A parlay is a bet that combines two or more bets into a single wager. Your winnings increase with each victory by the number of bets in the parlay. That’s why many bettors consider a parlay a viable option.
As the number of picks in a parlay is multiplied, the odds of a parlay payout increase correspondingly. Every “leg” or bet in a parlay must win for your wager to be paid out. You’ve got a losing parlay ticket if three of the four bets in a four-leg parlay win.
All of your choices must win for you to cash in on a parlay, or else the whole thing is a loss. Parlays are high-risk, high-reward sports bets that aren’t necessarily suitable for those with a low tolerance for risk.
A teaser wager is related to a parlay bet in that it involves multiple wagers. Only point spreads can use a teaser. Teasers are intended to pay off at the same rate as a single ordinary wager rather than an exorbitantly high rate.
Football and basketball are the two most common sports where you will find teasers. Each sportsbook has a different teasing limit. However, it’s usually from six to seven points for soccer and between four to seven points for basketball.
Teasers have their drawbacks, including that they’re very difficult to strike, and the altered betting lines cut your overall payoff. Teaser wager typically pays 6-to-1, but when you tease the point spread in your favor, it pays out at 2-to-1 on a sure winner instead.
When placing a point spread bet, you’re betting on a team’s winning margin instead of the final score. Point spread odds are a fundamental wager for sportsbooks. However, newbies may find them a bit difficult to grasp. They’re written in a plus or minus format as money lines, but the numbers don’t reflect dollars; instead, they signify the margin of victory that one side has over the other.
Sometimes point spread bets are called handicap bets since the favorite must overcome a point handicap. The bettor must beat the spread to win, unlike in money lines. Point spread bets are exciting in back-and-forth games. The bettor earns a Moneyline payout of about -110, different from the spread.
Futures are wagers on the future result of a sport. The number of points a player scores per game or yards a quarterback throws in a season are examples of futures. Futures are typically provided for season-long championships and substantial individual prizes in major sports.
Futures bets are enjoyable and easy to place, and you can find them almost anywhere. They work best when you can locate favorable team odds or get a player that has the potential to beat the odds and win the championship.
Prop bets don’t necessarily need knowledge of the sport and don’t rely on a specific outcome. They’re just enjoyable to wager on. In some circumstances, a knowledgeable punter has an advantage, like a prop bet on the first NFL touchdown scorer. Knowing a team’s tendencies can be helpful.
Game props and player props are the two common types of prop wagers. A player prop is a wager on a player’s performance, such as a quarterback’s throwing yards or a basketball player’s double-double total. A game prop is a wager on an occurrence during a game, like the first club to reach 30 or the team that will score first.
Now that you know the different types of bets and how they relate to each sport, choose what works for you. Sportsbooks must put odds on everything to entice customers. Your best edge as a gambler is focusing on a few areas and pinpointing where the sportsbooks make mistakes.