June 02, 2020
Here’s a quick guide to the major bet types you need to know.
When you first start to bet on sports, you might feel a little overwhelmed by the amount of options in the sportsbook. There’s nothing to be intimidated about, though, because the reality is that there are just handful of major bet types. In this article, we’re going to run you through them so that you have a clear understanding on how they work at SportsBetting.com and beyond.
Different Bet Types
The moneyline is a type of wager that focuses on the outright outcome of the game. In other words, if the team you bet on wins, you win your bet. The trick here is that you have to understand the odds that are associated with these wagers. Let’s look at an example:
Washington Nationals +125
Los Angeles Dodgers -150
What you want to key in on here is the plus or minus sign. The plus sign tells you how much you’d win if you bet $100. In this case, a $100 bet on the “underdog” Nationals would pay out $125 if they won. On the other hand, the minus sign indicates how much you’d have to bet to win $100. In this case, a $150 bet on the “favorite” Dodgers would win you $100 if they won.
Of course, you’re not tied to wagering these exact amounts. You can risk whatever amount you’re comfortable with. This just gives you an indication of what the payouts would be on each side.
Point Spread Betting
The point spread is a one of the most common types of bets in football and basketball. This is essentially a margin of victory. Let’s take a look at an example.
New York Knicks +4.5
Los Angeles Lakers -4.5
The key here is to take note of the plus or minus sign. The plus sign indicates the “underdog” while the minus sign is assigned the “favorite.”
The minus sign indicates the amount of points that team needs to win by. In this case, the Lakers have to win by 5 points or more to win or “cover the spread.”
As for the Knicks, since they have a plus sign in front of their odds, they are getting 4.5 points. That means if they lose by four, three, two or one, or win the game outright, that side wins the bet.
The total, which is also known as an over/under, is a way to bet on the game that focuses on the final score. What you’re looking at here is the combined final score of the two teams participating. Here’s an example:
New York Knicks at Los Angeles Lakers
What we’re evaluating here is whether the final score of this game will be over – or more than – 215.5 points or under – or less than – 215.5 points. A final score of 125-100 or 114-103 would constitute an over. Final scores of 111-97 or 105-103 would result in the under side winning.
While moneylines, totals and spreads focus on day-to-day betting (those bets are decided once the game is over), futures are a type of longer-term bet. These types of wagers are decided at a predetermined future time.
Some examples might be betting on which team will win the Super Bowl in the preseason or who’ll win a division or conference. Here is how those odds might look:
AFC East Odds
Buffalo Bills +125
New England Patriots +135
New York Jets +500
Miami Dolphins +750
When you bet on one of these teams, your bet is locked in until the season ends the division winner is decided. That means it could be months before your wager is graded. The downside is that it takes a while for you to get your payout, but on the plus side, if you’re right the payout tends to be larger than a traditional bet.
Props are a type of alternate bet where you focus on the performance of a player, team or outcome outside of the final score of the game. Here are a couple of examples:
Julio Jones Total Receiving Yards: Over/Under 77.5
Will the Buccaneers Score a Touchdown in the First 7.5 Minutes of the Game? Yes +120/No -140
With Jones, you’re betting specifically on whether he’ll record more or less than 77.5 yards. Depending on the matchup and how he’s playing, you might see value there. With the team props, you’re just evaluating how you think they’ll perform in the first half quarter of the game.
Props are a good way to bet on the games if you don’t have a good read on which team will win outright or cover the spread.