As a modern day Sports Bettor, there are many bet types available to you. For the uninitiated, the names of the different bets and the numbers might be a confusing and a bit daunting....especially if you're placing your hard earned money on the line. There are several different types of bets that are commonly placed on sports and other events. Here is a full overview of the most common bet types, explained in an advanced way:
Moneyline Bet: A moneyline bet is the most basic type of bet in sports betting. It simply involves betting on which team or individual will win the game or event. The odds for each team or individual are expressed in terms of a moneyline, with a positive number indicating the underdog and a negative number indicating the favorite. For example, if the moneyline for the New York Yankees is -150, that means you would need to bet $150 to win $100 if the Yankees win the game.
Point Spread Bet: A point spread bet is a type of bet that takes the point spread into account. The point spread is a number set by oddsmakers to even out the betting action on both sides of a game. The favorite team is given a negative point spread, while the underdog is given a positive point spread. To win a point spread bet, the favorite team must win by more than the point spread, while the underdog must either win the game outright or lose by less than the point spread.
Over/Under Bet: An over/under bet is a type of bet that involves predicting whether the total number of points scored in a game or event will be over or under a certain number. The oddsmakers set the over/under line, and bettors can choose whether to bet on the over or under. For example, if the over/under line for a football game is set at 48.5 points, you can bet on whether the total points scored in the game will be over or under 48.5.
Futures Bet: A futures bet is a type of bet that involves predicting the outcome of a future event, such as the winner of the Super Bowl or the NBA championship. Futures bets can be placed months in advance of the event, and the odds for each team or individual may change as the event gets closer.
Prop Bet: A prop bet, short for proposition bet, is a type of bet that is not directly related to the outcome of a game or event. Prop bets can involve anything from the number of points a player will score to the color of the Gatorade dumped on the winning coach at the end of a game. Prop bets can be a fun way to add some excitement to a game or event, but they are generally considered to be more of a novelty bet than a serious wager.
Parlay Bet: A parlay bet is a type of bet that involves combining two or more individual bets into a single bet. In order to win a parlay bet, all of the individual bets must be correct. Parlay bets can offer much higher payouts than individual bets, but they are also much harder to win.
Teaser Bet: A teaser bet is a type of bet that is similar to a parlay bet, but with the option to adjust the point spread or over/under line in your favor. Teaser bets can offer a higher chance of winning than parlay bets, but they also offer lower payouts.
First Half or Second: A first half or second half bet is generally on Spread or Total bet types. The bet is based on the results only within the half you bet on. For example, if you have a bet on the ‘First Half – Spread’ at +5 in an NFL match, your selection will need to either be winning by half time, or be behind by 5 or less.
Round Robin Bet: A round robin bet is a type of bet that involves placing multiple parlay bets on the same set of games or events. Round robin bets can be a good option for bettors who want to spread their risk across multiple bets, but they can also be more complicated to place than other types of bets.
These are the most common types of bets that you will encounter in US sports betting. Each type of bet has its own unique characteristics and advantages, and choosing the right type of bet for a particular game or