Comprehensive Guide to Sports Betting Types
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Moneyline bets are the most popular bets at bookmakers. They are straight up bets on a team to win a sports match. There is no point spread involved. Your risk is limited to the size of your bet. With moneyline bets, potential payouts are greater on the underdog than they are on the favorite. NBA, NFL and NHL bettors enjoy placing moneyline bets on their top teams. Money lines are denominated with 3-digit numbers.
If you see +250, this means that you can win $250 for every $100 that you bet, if your selection wins. If you see -250, this means that you must bet $250 to win $100 on the selection. In tennis, a moneyline bet may reference the match winner. You will see odds alongside each player’s name, indicating which one is the favorite. Moneyline betting is known as fixed odds betting
Spread betting does not involve fixed odds. These bets are not associated with wins or losses; players must decide whether the number will be higher/lower than the bookmaker’s spread. Your wins/losses are dependent on how much higher/lower the number actually is. Spread betting is a lot simpler than it sounds. If you’re watching a game of soccer, and the bookmaker posts a spread of 4-6, you must decide whether there will be more than 6 goals, or less than 4 goals.
If you buy the spread, it means that you are forecasting more than 6 goals will be scored. For every additional goal beyond 6, you will win a multiple of your initial bet. Let’s say you bet $100 on the spread, and the soccer teams scored 8 goals in the game. This is 2 multiples greater than your initial bet, so you would win 2 x your initial bet. When you buy the spread, you use the following formula to calculate your wins or losses: (Result - the Buy price) x the Betting stake = Wins or Losses.
If less than 4 goals were scored, you would lose a multiple of your initial bet. Precisely how much you lose depends on how many goals less were scored based on the bookmaker’s odds. When you sell the spread, you use the following formula to calculate your wins or losses (Selling price - the result) x by your Betting stake = wins or losses.
Totals (over/under) Bets
Totals, or total line bets are incredibly popular bet selections in many sports. This bet requires players to determine whether the combined score for both teams in the sports match will be under the total set by the bookmaker, or over the total set by the bookmaker. In games like basketball and football, you have an option to bet on total lines by the end of each half of the game.
Proposition bets, or prop bets are focused on specific results or events in a game. Prop bets are particularly popular on Monday Night Football games, or NCAA college football games. An example of a Prop bet could be: ‘Which team will be first to score a touchdown?’, ‘Which team will score the next three-pointer in basketball’, or ‘Will there be overtime in the game?’ etc. Prop bets are exotic wagers on pretty much anything you can imagine.
Parlays link multiple bets together. To win a parlay, all the bets in the parlay must win. If you lose any bet in the parlay, you will lose the entire bet. If you win all bets in the parlay, you will win a much better pay back than if you bet on the events individually.
Teasers are parlay bets where the point spread/total for individual play gets adjusted. The price of teasing (moving the point spread) results in lower payout odds on winning bets.
If Bets are chain bets that will carry over to the next bet if you win your initial bet. In other words, you must win your initial wager to continue betting with this option. There are also if bets with win & push. If bets with a win & push allow another bet to be placed if the previous bet wins or pushes.
Run Line, Puck Line, or Goal Line Bets
In baseball, Run line bets are used in place of moneyline bets.
Puck line bets are used in hockey, and they feature as a point spread. Puck line bets favor the underdog by leveling the odds between the teams.
Goal line betting is a bet on the number of goals you believe will be scored in a soccer game, or other sports event. These are also known as totals bets or over/under bets.
As the name suggests, Future wagers are bets on sports matches and events taking place weeks or months in the future. These are popular on the Super Bowl, and MLS games. You can also place future wagers on all other games, including the MLB World Series.
Head-to-head betting is a traditional sports bet where you bet on the outcome of a match (win, lose, or draw). When a draw is involved, this is also known as 3-way betting. This bet type is popular in soccer and ice hockey. In NASCAR, head-to-head betting is popular when you’re comparing the performance of 2 drivers. The driver that performs better in the race wins the head-to-head bet.
These betting options are popular in pari-mutuel bets, dog racing, and horseracing. They are flexible-rate bets and there are ever-changing payouts. As the amount of money wagered changes, so too do the odds.
If you believe that scoring will take place in the second half of a game, you will place a halftime bet.
In Play Betting
In-play betting, or live betting takes place while the sports match or event is currently underway. It is only possible to place in-play bets once games have begun.