Bet Types

There are countless ways to wager on sports. Sportsbooks offer numerous bet types, some simple and others more complex. This page provides a comprehensive overview of popular bet types available at sportsbooks.

Main Bet Types

Main bet types, also known as straight bets, are the simplest and most common ways to wager on sports. They are the foundation of sports betting and are easy to understand, even for beginners. These bets typically involve wagering on a single game or event outcome and are often the starting point for those new to sports betting. Here’s a breakdown of the three primary main bet types⁚

Moneyline Bets⁚ This is the most straightforward bet type where you pick the outright winner of a game or event.
Point Spread Bets⁚ This bet involves wagering on the margin of victory. The sportsbook assigns a point spread to even out the competition, and you bet on whether a team will win or lose by more or less than that spread.
Totals Bets⁚ Also known as over/under bets, totals bets involve wagering on the combined score of both teams in a game; You bet on whether the total score will be over or under a predetermined number set by the sportsbook.

Moneyline Bets

Moneyline bets are the simplest form of sports betting. It’s a straightforward wager on which team or individual will win a particular game or event. There’s no point spread or handicap to consider; you’re simply picking the outright winner. While straightforward, the odds associated with moneyline bets reflect the perceived chances of each competitor winning.

For example, a heavily favored team will have negative odds on the moneyline, meaning you need to wager more to win a specific amount. Conversely, an underdog will have positive odds, meaning a smaller bet can yield a higher payout if they pull off the upset. Moneyline bets are popular across all sports and offer a clear-cut way to engage in sports betting action.

Point Spread Bets

Point spread bets, commonly referred to as “spread bets” or “handicap bets,” are designed to level the playing field and create a more balanced betting experience, particularly in games with a clear favorite and underdog. Instead of simply picking the winner, you’re betting on whether a team will win or lose by a specific margin of points set by the sportsbook.

This margin, known as the point spread, is used to handicap the favorite team, giving the underdog a virtual advantage. To win a point spread bet, the favored team must win by more than the assigned spread, while the underdog can either win outright or lose by less than the spread. Point spread bets are popular in sports like football and basketball where scoring margins can fluctuate.

Totals Bets

Totals bets, also known as Over/Under bets, revolve around predicting the combined score of both teams or players in a particular game or event. Unlike moneyline or point spread bets where you wager on the outcome of the game, totals bets focus solely on the total number of points, goals, or runs scored, regardless of which team wins.

The sportsbook will set a predetermined number, and you bet whether the actual combined score will be over or under that number. For example, in a basketball game with a totals line set at 200 points, you can bet “Over” if you expect a high-scoring game exceeding 200 combined points or “Under” if you anticipate a lower-scoring game with less than 200 total points. Totals bets add an extra layer of excitement and strategy, as you analyze offensive and defensive capabilities.

Exotic Bet Types

Exotic bets, as their name suggests, go beyond the conventional realm of moneyline, point spread, and totals wagers. These bets offer a more intricate and potentially more rewarding betting experience, often combining multiple selections or predicting specific outcomes beyond the game’s final score.

Exotic bets cater to bettors seeking bigger payouts and a heightened thrill, as they often involve greater risk due to their complexity. Popular examples include parlays, where you combine multiple bets into a single wager for enhanced odds, and futures, where you bet on the outcome of an event or a team’s performance over a longer period, such as winning a championship.

Parlays

Parlays are a popular form of betting that combines multiple individual bets, known as “legs,” into a single wager. To win a parlay, all of your selected legs must be correct. For example, you could combine a moneyline bet on one football game, a point spread bet on another, and the over/under on a basketball game.

The allure of parlays lies in their potential for significant payouts. Since the risk is compounded with each additional leg, the odds increase exponentially, leading to potentially much larger winnings compared to placing individual bets. However, the catch is that even a single incorrect leg results in the entire parlay being lost.

Futures

Futures bets, also known as future bets or outright bets, are wagers placed on events or outcomes that will be determined in the future, often weeks, months, or even an entire season ahead. These bets typically involve predicting long-term outcomes, such as which team will win a championship, a player’s statistical achievements over a season, or a team’s regular-season win total.

One of the appealing aspects of futures bets is that the odds offered at the time of placing the wager are locked in, regardless of any subsequent performance fluctuations. This means that if you make an accurate prediction early on, you can secure potentially favorable odds. For instance, betting on a team to win the Super Bowl before the season starts might offer higher odds compared to placing the same bet later in the season if the team performs well.