With so many different types of sports bets available, it can be overwhelming to know where to start. Not to mention having to worry about deciphering sports betting lingo to know what’s happening.
From moneyline bets to points betting and everything in between, understanding the different types of sports bets and how they work is key to making the right decisions to make profitable wagers.
In this article, let’s get into the fundamentals of each type of sports bet so you can create your betting strategies with confidence the next time you’re looking to get in on the action.
Moneyline bets are a type of sports bet where you bet on which team will win the game outright, with no point spread involved. This means you only have to pick which team you think will come out on top. Moneyline bets can be especially useful when betting on heavy favourites, as the odds can be more favourable.
Point spread betting is placing a wager on the winning margin between two teams. This means that regardless of who wins, whether it’s the favourite or the underdog, winning the bet will be based on the number of points between the teams at the end of the game.
Generally, point spreads are harder to predict but, if made correctly, return higher profits. This type of bet is common for basketball games.
Teasers are a sports bet that allow you to adjust the point spread of multiple games in exchange for lower odds. For example, if you have three games you want to bet on, you can modify the point spread in your favour for each of them. This gives you a better chance of winning all three bets but at the cost of lower potential payouts.
Out of the different types of bets, prop bets are the most interesting. These are bets that don’t relate to the final score of a game. Instead, they focus on specific events that may occur during the game, such as which player will score the first touchdown or even which colour of Gatorade will be dumped on the head coach.
This is one of the most versatile types of bets because it doesn’t rely on a number of participating teams or a number of games.
Middle bets are a type of sports bet where you place two or more wagers on the same game with the goal of winning both and generating a profit regardless of the outcome. Middles can be especially profitable when the point spread moves in your favour.
Futures bets are a type of sports bet where you bet on the outcome of an event that’s set to take place in the future, such as which team will win the championship before the season starts.
Futures bets can payout at high odds, but they require a lot of patience and an ability to predict long-term outcomes.
Live betting is a type of sports bet that allows you to place a wager on a game while it’s in progress. Live betting can be especially exciting as the odds and lines adjust in real time based on the action taking place on the field.
Related: Online Betting vs. Live Betting
Points betting is a type of sports bet where your potential win or loss is determined by how much a team or player exceeds or falls short of a predetermined amount, such as a points total or individual statistical threshold. Points betting can be high-risk and high reward depending on the circumstances.
The world of sports betting offers a wide array of options. Whether you prefer the simplicity of moneyline bets or the thrilling possibilities of prop bets, there is something to suit every kind of bettor.
Understanding the different types of sports bets opens up a world of opportunities for fans to engage with their favourite sports in a new and exciting way. Keep in mind to always do your research, set a budget, and bet responsibly.
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