Sports betting goes beyond who might win a game. Although the win-lose wager is the most popular bet, online sports betting involves various bets. Different sports bets, or markets, add to the fun of sports betting, allowing you to make predictions about the players, injury times, scores, and more. If you are new to wagering, this guide reviews the most popular bet types you should know.
Moneyline
The money line bet is the simplest and most common bet on major sportsbooks like Betway. It is basically a bet on which team will win. When you bet on a team or player’s money line, you bet on them to win the match or tournament. An example is betting on the LA Lakers to win against the Dallas Mavericks or Novak Djokovic to win a tennis match against Casper Ruud.
Usually, the odds are higher on the underdog’s side. The odds in the NBA example above are LA Lakers (+300) and Dallas Mavericks (-245). The Mavericks are the favorites, and the Lakers are the underdogs, so the Lakers have higher odds.
Point Spread
For some American sports, the point spread is more common than the money line. It offers more exciting betting opportunities since you bet on a team’s margin of victory/loss rather than the final result.
As in moneyline, the plus symbol signifies the underdog, and the minus symbol is the favorite. Odds are represented on online sports betting sites like betway, as saying:
- Denver Broncos -12 (-110)
- Green Bay Packers +12 (-110)
In this case, to win the favorite bet, the Denver Broncos must win the game by more than 12 points. The Green Bay Packers must either win the game outright or lose by less than 12 points to win the underdog bet. This is called covering the spread.
The points spread bet awards the underdog team phantom points. If the game ends with a final score of Broncos 30- Packers 25, the Packers “win” because they have covered the spread (25+12). Conversely, the Broncos must beat the Buccaneers by over 12 points to cover the spread and win the bet.
Over/Under (Totals)
Total bets are often referred to as over/under bets. They involve betting on whether the combined points scored in a match will go over or under the threshold set by a sportsbook. In an NBA game, for instance, an over/under bet may be represented as:
Golden State Warriors Vs. Sacramento Kings
- Over 223.5 (-110)
- Under 223.5 (-110)
If you bet the over, you say the teams will score combined points above 223.5. If you bet the under, you are wagering that they will score less than 223.5 points. The overbet would pass if the game ends with a final score of Warriors 143-Kings 95 because the combined total is 238. Alternatively, the underbet passes if the final score is Warriors 109-Kings 96.
Who wins the game in an over/under bet does not matter.
Parlays
Parlay bets combine multiple wagers into one bet. A parlay bet is high-reward because it increases the odds (by compounding them) to create higher potential payouts. However, it is also high-risk, as every leg of a parlay must hit for it to pass. The entire parlay is a bust if even one bet loses. For example, let’s say you combine four bets to create the following parlay:
- LA Lakers Moneyline (-250)
- Miami Heat +6.5 (-110)
- Houston Rockets +2.3 (+125)
- Dallas Mavericks Moneyline (-200)
The bets combine into a single bet with odds of +917.7. But if even one bet loses, the whole parlay is a bust.
Prop Bets
Also known as proposition bets, prop bets cover what might happen in a game outside the final result or score. Game props and player props are the most common prop bets. In the former, you bet on what could happen in a game, such as which team will score first, which will get three goals first, etc. Meanwhile, you wager on a player’s performance in a player prop bet. This could be how many points they score by halftime, the number of yards, etc.
Teasers
A teaser bet allows you to change the lines of two wagers by a specific amount. Teaser bets are similar to parlays because they combine multiple bets. However, unlike a parlay, where the odds compound, a combined teaser offers the same payout as a single bet.
Let’s consider the following two bet lines:
- Boston Celtics at Dallas Mavericks (+6.5)
- Indiana Pacers at Golden State Warriors (-3.5)
You could tease these bets by adding 7 points so that the teaser line would be:
- Boston Celtics at Dallas Mavericks (+13.5)
- Indiana Pacers at Golden State Warriors (+3.5)
For a winning parlay bet, the Mavericks must win outright or lose by less than 6.5 points, and the Warriors must win by more than 3.5 points. But, for a 7-point teaser, the Mavericks must win or lose by less than 13.5 points, and the Warriors must win or lose by less than 3.5 points.
Other Bet Types
Sportsbooks always find new ways to add excitement and intrigue to sports betting. Other popular types of bets you should know about include:
- Futures – These are wagers on events that could happen in the future. The most popular futures bet is on the team winning a championship league.
- Same-game parlay – A same-game parlay is a bet that combines wagers within the same game. Some sportsbooks offer this bet but limit the types of wagers you can use to build a parlay.
- Live Bet – Live bets are also in-game or in-play bets. They are wagers placed on a game that is in progress. The odds change based on the events in the game.
Find exciting bets at top sportsbooks
Variety is one of the bigger joys of online sports betting. In addition to a game’s outcome – who will win and who will lose – you can bet on everything from player injuries to the combined score. Explore the fascinating world of online sports betting at a reputable sportsbook with favorable odds and all your favorite sports bet types for the ultimate betting experience.
