When you’re a novice to online sports betting, the tendency is you’ll be curious by the expanse of different types of sports betting you can make. Bettors like you are not bounded to betting on which player, team, or match because you have a lot of options in just a few clicks.
Undoubtedly, sports betting is one of the largest and most well-known forms of gambling globally. Bettors, especially new ones, must familiarize themselves with the different types of sports betting they can make.
Types of Sports Betting
In the sports betting industry, you’ll find that there are several types of sports betting that you can do.
Money Line Bets
Money line bets are one of the different types of sports betting distributed for all major sports. It usually comes into play for hockey and baseball. When you want to make a money line bet, you’ll choose a team that will possibly win even without a point spread.
A good example of this is the match between Dodgers and Giants. If the Dodgers becomes favored over the Giants, the money line may read San Francisco (+120) vs. Los Angeles (-135). As a bettor, you will stand to make $120 on a bet of $100 on the Giants if they win. You will have to risk $135 to win $100 in case the Dodgers win.
Among the different types of sports betting, a straight bet is the most familiar. It’s the basic and most commonly used in basketball and football to name a few.
A betting line is set and usually referred to as ‘point spread.’ You can bet whichever on the favorite and abandon the points. Or, you can bet on the underdog and take the points.
The favorite needs to win the game by over the set point spread to cash-in. The underdog, on the other hand, should have to win definitely or lose by less than the point spread. The reason for this is to “cover” and the win the bet. In case there’s a tie (known as “push”), no money has been lost or won. It means that no bettors are winners or losers.
Parlay bet is one of the different types of sports betting where two or more picks are grouped together into one single bet. This can be two separate picks altogether to a specific bookie’s set limit.
On a parlay payout, betting odds are adjusted according to the overall number of picks being accumulated together. Generally, it starts at a 13-to-5 return on your advantage for a 2-team parlay. This can possibly reach as high as 645-to-1 for a 10-team parlay.
For you to cash-in on a parlay, the total picks should win, or else the entire parlay will be lost. Just take note that parlays could be very high risk or high reward sports bet and is not applicable for the faint-hearted.
Total Line Bets
Total line bets come second to the most popular types of sports betting. In this bet, a number is established for the combined concluding score of both teams. You, as a bookie, bet on the existing score and keeps “under” that total or going “over” the set number. Most often than not, you place a bet on a total line during each half times of the games, especially in basketball and football.
If you like car race or golf, you must be familiar with head-to-head bets. This is one of the types of sports betting where you bet on the head-to-head outcomes between just 2 competitors. This is no matter who finishes the game or race with a higher position, wins.
Money lines are usually attached to each competitor to handicap the match. These types of sports betting are best-sellers for sports to think that it’s difficult to choose a definite victor from a group of competitors.
Teasers bets are other types of sports betting which is an alteration on a parlay. It means that you’re still assigning 2 or more picks together in one bet. However, at this point, you can adjust the point spreads on your advantage for a lower total payout. If a bookie offers a 6-point teaser bet, a 3.5-point underdog will get 9.5 points.
The problem with these types of sports betting is that they’re difficult to hit. Besides, your total payout is slashed a little with the adjusted betting lines. Generally, a straight-up 3-team parlay will reimburse 6-to-1. However, once you decided to tease the spread to your advantage, the payout tumbles to 2-to-1 on a winning bet.
Pleaser bets are like teaser bets which are both complicated types of sports betting. Pleasers are commonly offered on football and basketball games. It is also a type of parlay that allows you to modify the spreads to your advantage and move them in the other direction.
This type of bet is much harder to win. The only consolation you’ll get is to receive a bigger payout provided that all of your picks win their corresponding games.
Futures bets are types of sports betting that allow you to bet on the results of major events including the NBA Finals, World Series, or even the Super Bowl. You can make your picks while the regular season is in progress.
If you want to bet on greater odds, the best time to do it is earlier in the season. It’s because of the many things that can occur during the flow of the season.
Futures odds are exorbitant when compared to single games odds. The payouts can be much bigger because it is harder to forecast the result of a season than the game’s result.
These types of bets are commonly known as “prop” bets and are often made just for fun. You may hope to win but don’t expect to win.
The challenge here is that your luck plays an important role in each bet that you make. It’s an objective to study a team’s performance history, review stats, and match-up potentials. You can make a rational decision regarding their anticipated performance in forthcoming games.