Thanks to the massive influence the Internet has on gaming, sports wagering is a whole new ball game today. With only a few mouse and key clicks, bettors can put their money down not only on which team will win, but on how many touchdowns, points or goals a player scores, and much more. The Super Bowl is the biggest American single-day event of every year, but March Madness takes the cake when the entire NCAA Tournament is tallied up.
Whatever sports you want to bet on, you can be sure that you'll find a betting market with one of our online betting partners. Before you head there, take a look at the different bet types you may encounter in the world of sports betting.
Different Kinds of Bets
Essentially, there are six main types of bets available on the major U.S. sports: point spreads, moneylines, totals (Over/Under), props, futures and round robin wagers. Every major book will offer these types of wagers and there are thousands of variations in each category. Some sportsbooks even let bettors set their own odds, although this is becoming more of a rarity.
Money lines revolve around $100 wagers. Thus a -150 money line favorite costs a bettor $150 to win $100. A +150 money line on an underdog would return $150 on $100, and so on. You can still wager less – $50 on a -200 moneyline returns $25. A money line wager is “safer” than point spread betting.
An Over/Under price is placed on many sporting events. The primary use for this bet type is total points scored in a game, goals, runs, etc., scored by one or both teams in a competition. The winning team doesn’t matter here. Just correctly predict if the score of a match or player/team proposition will go over or under of the posted total and you win.
Football and basketball are the two primary sports with point spreads. A favorite will have a negative spread, say -3, while the underdog would be the opposite a t+3. Sports like baseball use a Run Line spread, while hockey and soccer have a Goal Line. The favored team is behind at the start of the game and will start that many points or runs down before the game starts. For example, if the New England Patriots have a -8 spread against the Washington Redskins, you bet on the Patriots to win and the end score is 21-14 to Patriots, your bet would lose because the score difference is less than the -8 spread.
Know that feeling when you look at the big betting board and three or four match-ups immediately jump out at you? That’s where the parlay betting option comes into play. Although it can be challenging to bag a hat-trick, or even a six pack for that matter, the rewards are always huge when you cash a winner. You need all of your selections to win in order to be paid out on a parlay bet.
A prop bet, or proposition, is a side wager in a sports competition. There can be hundreds of prop bets available on any event. The most popular are often on single player results, whether on an individual play or at stages during the game. When the NFL Super Bowl rolls around – Prop Betting is King!
A futures bet is just what it sounds like: Wagering on a player or team outcome down the road. The most popular futures bets are on championship by a team, be it division, conference or league. Other futures include top goalscorer in a season, number of touchdowns scored by a player, and so on. Bet future odds never change on your ticket. Additional offers with revised numbers are available all season long.
Round robin bet as an alternative to one multiple-team parlay where every team in that parlay would have to win to pay out. A round robin wagers include is three (or more) teams into two-team wagers thus – any two-team correct combo wins! You can cover several teams with a single wager with this option.