Sports Betting: Types of Sports Bets You Need to Know

Get your game going! In a 2022 survey, roughly 19% of Americans said that they had bet on sports at least once during the previous 12 months.

One reason why sports gambling is so popular is that there are many types of sports bets. Yet this can also make it hard to understand how sports betting works. Before you put your money down on the next game, you should do a deep dive into the most popular types of bets.

What are the simplest bets to make? What are different ways you can bet on the outcomes of games? How can you bet on individual players’ performances?

Answer these questions and you can make effective wagers on sports games in no time. Here is your quick sports gambling guide.

Moneyline Bets

Moneyline bets are the easiest type of sports betting. You bet on who will win the game, regardless of how much they score or how the players on a team perform.

Nearly all bets in the United States contain American odds. The favorite in the game has a triple-digit number and a negative sign (-). The underdog has a positive sign (+) with a triple-digit number beside it.

The number next to the negative sign indicates how much money you need to wager in order to win $100. Betting on a team with -200 means you must bet $200 to get $100. The bookie will give you $300 if you win.

The number next to the positive sign indicates how much you will win if you bet $100. Betting on a team with +150 means you will win $150 if you bet $100. The bookie will hand you $250.

The bigger the negative value is, the more likely the team is to win the game. Most gamblers encourage people new to sports gambling to bet on favorites in order to build their bankrolls. But you can bet on both favorites and underdogs so you have different opportunities to make money.

Covering the Point Spread

Point spread bets are nearly identical to moneyline bets, but they have one difference. In order to win your bet, your team must win by a certain number of points. Even if you bet on the right team, you will lose your wager if they do not exceed the spread.

The point spread is written in American odds, similar to moneyline bets. A positive figure indicates that the team is the favorite while a negative figure indicates that the team is the underdog. +8.5 means the team must score nine or more points in order to win.

If you bet on the underdog, you can win your wager if they win the game or lose by a smaller amount than the spread. This increases your chances of winning your bet. Once you’ve figured out moneyline bets, you should start betting on the underdog to win against the spread.

If a team wins by the exact number of points in the spread, the bookie will return your bet to you. This is why most bookies write their spreads in half points.

Over/Under

Over/under bets relate to the number of points that both teams score. A bookie will give a certain number of points that they estimate both teams will score over the course of a game.

You can choose if the teams will score more or fewer points than the bookie’s estimate. It does not matter which team or player scores the points.

If you prefer to bet on other figures, you can make over/under bets on them. In a football game, you can bet on passing yards or touchdown passes. In a basketball game, you can bet on the number of 3-pointers or free throws.

You can make an over/under bet and a moneyline or point spread bet. It’s a good idea to make both bets if the teams are close competitors of each other and may score a lot of points.

Parlays

Parlays are multi-step bets. You make a series of individual wagers, each of which you must win in order to win the entire bet.

Most parlays involve betting on the overall outcome of a game. You can bet on an individual player’s performance, predicting how many yards or points they will score. You can also bet on who will get the ball first or whether a player will be swapped out for someone else.

Some parlays involve betting on the outcomes of several games. This prevents bad luck in one game or affecting one player from ruining your bet.

Parlays are extremely risky. You should only make them if you have done extensive research on the game. Wait until you have mastered sports betting 101 and built a good relationship with your bookie.

Prop Bets

Prop bets are wagers based on things besides the final score. You can bet on whether the total number of points will be odd or even. You can bet on which team will have the most touchdown passes.

Some people even like to bet on completely random things. You can wager on whether an announcer will make a mistake or if an animal will run onto the field.

Prop bets are also risky, but they are less costly than parlays. Feel free to make one or two per game, as long as you have a strong chance to win.

The Most Common Types of Sports Bets

You need to get a grasp on the types of sports bets before you throw your money around. Moneyline bets and point spread bets let you wager on the overall outcome of a game, and they are perfect for beginners.

You can then bet on the over/under, which relates to the total number of points. Wait until you’ve built up a bankroll before you try out parlays. When you want to have fun, make prop bets.

These are the essential types of sports bets, and there’s more to learn. Read more sports betting guides by following our coverage.