When you step into the world of sports betting, you’ll quickly discover that it’s not just about predicting which team will win. There’s a diverse range of bet types that allow you to wager on various aspects of a sporting event.
In this guide, we’ll explore some of the different types of bets you can place on a sports betting site.
Different Types of Bets on a Sports Betting Site
The most common types of bets are:
1. Moneyline Bets
Moneyline bets are among the most straightforward. You’re essentially choosing which team or player will win the game or event. The odds indicate the potential payout for each team or player. If you bet on the favourite, you’ll need to risk more to win a specified amount. Betting on the underdog offers the chance to win more for a smaller wager.
2. Point Spread Bets
Point spread bets, or spread bets, level the playing field in games with unevenly matched teams. The sportsbook assigns a margin of victory for one team while giving the opposing team a handicap. To win your bet, the favoured team must win by more than the specified margin, while the underdog can win or lose by less than the margin.
3. Over/Under Bets
Over/under bets, also known as totals, involve predicting whether the combined score of both teams in a game will be over or under a specified number. It doesn’t matter which team wins; you’re simply betting on the total points scored in the game.
4. Proposition Bets (Props)
Prop bets allow you to wager on specific events or outcomes within a game. These bets can range from predicting the first player to score a goal to how many touchdowns a quarterback will throw. Prop bets add an extra layer of excitement to the game.
5. Parlay Bets
Parlay bets involve combining multiple individual bets into a single wager. The catch is that all the individual bets in the parlay must be correct for you to win. The potential payouts can be substantial, but the risk is higher.
6. Futures Bets
Futures bets are long-term wagers on events that will occur in the future. For instance, you can bet on the champion of a sports league or the winner of a tournament before the season begins. These bets can offer significant payouts if your prediction is correct.
7. Teaser Bets
Teaser bets allow you to adjust the point spread in your favour by a specified number of points. While this increases your chances of winning, it reduces the potential payout.
8. In-Play Bets
In-play bets, or live bets, are wagers placed while a game is in progress. You can bet on various outcomes during the game, such as the next team to score or the result of a particular play.
9. Round Robin Bets
Round-robin bets involve creating multiple parlay bets from a selection of teams. It provides flexibility and allows you to cover different combinations of outcomes.
10. Each Way Bets
Common in horse racing and golf, each way bets combine a win bet and a place bet. If your selection wins, you receive both payouts. If it places but doesn’t win, you receive a smaller payout.
Understanding these different bet types opens up a world of possibilities in sports betting. As you gain experience, you can explore and experiment with various bets to enhance your betting experience. Each bet type offers unique opportunities and challenges, making sports betting a dynamic and engaging pursuit.