Sports betting is one of the most popular types of gambling because it taps into the enthusiasm of sports enthusiasts. A bet allows supporters to demonstrate their knowledge of a sport or their loyalty towards a specific club or player.

Although football competitions attract huge attention, the majority of sports betting happens on horse races. Other sportsbook events such as boxing, basketball, baseball and cricket are also popular for betting. But not as prominent as horse racing. 

While online sports betting can be profitable, a sports bettor should be familiar with all of the important terms used in this industry before getting started. From then, the research phase then begins. This may include looking into team trends, odds, or selecting for the best sports wager lines.

96Ace and SGOnlineCasino consultants shall give you a quick rundown on the different types of sports bets available.

Money line bets 

A moneyline bet is the easiest and most common type of all kinds. In its simplest terms, it is a bet on which team will win a game. 

For instance, if you want to gamble on your desired baseball team to win, you would wager on their moneyline. Your wager is successful if the team wins. If the team loses, you lose your wager.

The moneyline is the most straightforward way to put your college football knowledge to the test. Each year, the biggest online sports betting handle is generated by bets on the National Football League (NFL) and college football.

Point Spread 

A point spread bet is another popular sort of sports wager. When you bet on a spread, you are wagering on a team’s winning margin rather than the final score.

A minus symbol denotes your favorite team, while a plus symbol denotes an underdog team. If a team is -6.5, for example, they must win by more than 6.5 points.

While the opposition team would be given a +6.5 point spread, which means they must either win outright or lose by less than 6.5 points.

Over/Under (Totals bet)

Aside from moneyline and spread bets, the total is also a well-known type of sports bet. A total bet is a wager on the total number of points scored by both sides in a game.

This bet is also known as an over/under bet since you are betting on whether a total will go over or under the total bet. When you bet on the over, you are betting that both teams will score more points than the total listed. An under bet, on the other hand, indicates that you believe there will be lesser points than the total listed.

Straight bets

The most fundamental bet in sports is the straight bet. A straight bet is most likely familiar among sports fans. It’s also the most common bet among sports gamblers, particularly in sports like football and basketball.

A straight bet is defined as betting on a single sporting event’s outcome. As an example, a straight bet on the point spread is the most basic way to gamble on football. When placing this bet, the player must bet on a team that covers the point spread. This indicates that your favorite team must win by a certain amount of points, or the underdog will be awarded those points.

Parlay bets 

Parlays have a specific place in sports betting history. Parlays are referred to in a variety of ways in different parts of the world. This bet is also known as ‘accumulators’ or ‘multis’ depending on the sportsbook and the region.

A parlay bet combines many wagers into a single stake. This is accomplished by rolling over the gains from each wager into the next ‘leg’ of the wager. For the parlay to be considered a winner, each ‘leg’, or individual wager, all must win.

Assume an RM100 wager on a three-team parlay with the first team +170, second-team +105, and finally the last team +205. The RM100 bet pays out a whopping payout of RM1,815 if all three teams win.

Prop bets

Proposition betting, also known as prop betting, has existed for as long as individuals have been able to agree on a wager. A prop bet is a wager made on the occurrence or non-occurrence of an event that does not directly affect the game’s outcome during a gamble game.

When the point spread or the total hits the precise number that you bet on, it is called a push. In contrast to a push, most prop bets have a winner and a loser.

Prop bets are now widely available in recent years as gamblers’ demand for them has increased. The Super Bowl, in particular, has become a testing showcase for bookies’ ability.

Futures bets 

A futures bet is a type of wager on the outcome of a sporting event in the future. This can include winning a league title or a team’s total amount of victories.

To interpret futures bets, keep in mind that normal betting is frequently determined by a single game, whereas futures bets are determined by several games. They consider the total result of a season rather than the results of individual games.

Handicap bets

Handicap betting is a means for bookmakers to make a sporting event more even in terms of betting odds. The bookies will provide a ‘handicap’ to one of the participants in an event, which they must overcome to win. This especially takes place when one team is significantly better than the other.

This type of bet is used in sports such as rugby, American football, tennis, and basketball. Some bookmakers even provide handicap betting on horse races. 

Due to the large amount of betting options, basketball is an excellent sport to learn how to handicap. This type of betting is hugely popular in the National Basketball Association (NBA) leagues.

Teasers 

A teaser bet is linked to multiple bets. The main difference between parlays and teasers is that it is exclusively for point spreads, and it is supposed to pay out the same as an ordinary single bet rather than a huge payout.

The most prevalent teaser is a two-team, six-point football game. This bet pays out the same as a single -110 point spread wager and adds six points to those spreads. However, in order for the teaser to cash, both sides must complete the new spreads.

Live bets

The option for bettors to make further wagers after the game has already started is known as live betting, often known as in-game betting or betting in progress. As the game progresses, the odds and your chances of winning change. It allows you to profit from odds while you are watching the game.

Conclusion

It is important to grasp the odds if you plan to start betting on both casino gambling and sports betting. However, to place smart bets, you will need a comprehensive understanding of the many sorts of betting types as well as their various formats.