The world of sports betting is a dynamic and exciting one. From the easier point spread bet to the more complicated If bet, there is no shortage of ways to play the odds.
The internet has enabled a surge of online sports betting sites. It also gives unparalleled access to information for customers to use to decide what bets to place.
With an understanding of the different types of bets available, you will be able to make better choices. Equip yourself with knowledge and stake your claim to part of this $83.65 billion market. Knowledge will improve your edge.
There are a magnificent number of different types of bets. It can be bewildering for the beginner to make sense of. Our article will guide you through the different types of sports bets that are normally available through legal bookmakers. You’ll also be able to decide which is best for you.
Straight or Moneyline bet
This is the type of bet that most of us are probably familiar with. It’s also the most common form of bet. With a moneyline bet, you are betting on who will win. Moneylines are normally first in the list of bets in a sportsbook for any particular game.
The odds on offer determine how much you can win. The favorite in a competition provides what is termed short odds and offers a lower payout if they win, while the underdog provides long odds with a correspondingly higher payout.
Point Spread
Another very popular type of bet. With a point spread bet, you are betting on the margin of victory instead of the final score.
Point spreads are designed to even the odds. This is done by giving a boost to the underdog’s score by the spread number and reducing the favorite’s score by the same amount. This means that the favorite must win by more than the point spread for your bet to also be a winner. Conversely, the underdogs may lose, but you can still win your bet if they lost by less than the point spread. The results of a game that includes the spread is called against the spread.
If the point spread results in a tie, referred to as a push, then you get your bet back.
Total Line or Over/Under
Instead of choosing a winner, total line bets are a wager on whether the final combined total score will be over or under a specified number that is set by the sportsbook.
The odds on over/under bets are normally close to even so the payouts are generally lower than moneyline bets. They are a good option if you aren’t sure which team will win.
Teaser
A variant on the parlay bet where the bettor changes the spread of multiple bets. Teasing in favor of the sportsbook provides increased odds but makes the pick harder to hit. While teasing in your favor decreases the odds.
Head-to-Head
A head-to-head bet is a wager on the results between two competitors of many. You’re betting on which competitor will achieve the higher position. This is a popular type of wager in events where there are a large number of competitors and it can be hard to pick the event winner.
Prop
A proposition bet is a wager on a specific aspect of the match or tournament that isn’t directly connected to the outcome of the match. There are hundreds of different possible prop bets. If a sport tracks a specific statistic, there is probably a prop bet for it. Examples of propositional wagers include the first team or player to score, the first team or player to score a specified number of points or the score achieved by a particular player.
Parlay
Parlays combine two or more bets into one, up to the sportsbook’s limit. To cash a parlay bet, all legs of the parlay must win. Because of this, parlays provide increased odds than the individual picks that make up the parlay.
Normally the odds offered also increase with the number of picks that you are combining. Because of this, parlays are an attractive choice for the stout of heart.
If bet
An If bet is similar to a parlay bet. But each subsequent leg of the If bet is only placed if your bet won in the previous leg.
Middle
Middling is a type of arbitrage betting where you utilize the difference in point spreads between sportsbooks. You then place bets on both sides of a game so that one or both of your wagers win.
At first glance, middling might seem like a surefire strategy for hedging your bets. But be advised that because of increasingly intense competition between bookmakers, middling is a very time-intensive exercise with narrow margins.
Futures
Futures are the placing of a bet on the future outcome of a sports season or tournament. The further into the future the outcome, the better the odds. The current odds get locked when you stake your wager.
Futures also include props, such as the total points scored by a particular player over the course of a tournament.
Live
Like the live dealer games you’ll find at top sites like Mandarin Palace casino, live betting delivers real-time action. It involves the placing of bets after a game has already started. This fast-paced wagering increases the excitement as the odds are constantly changing as the game progresses.
Live betting is enjoying increasing popularity with mobile access to the internet making it easier than ever before. You can place your bets and watch the event live. No need to miss any of the action by physically going to the bookmaker anymore.
Wrapping Up
This is by no means a complete list of the different types of sports bets. These are the types that are most commonly available both offline and online. Knowing the difference between the different types of sports bets will enable you to find value in whatever type of wager you decide to stake and limit your exposure at the same time.
Keep on learning and developing your betting strategy and you’ll no longer be a beginner, but on your way to being an expert.
