Different Types of Sports Bets Explained

Sports betting contains various bets, tactics, skills, luck, and entertainment. There are numerous interesting sports to bet on, but the type of bets are more or less similar. So, here are the different types of sports bets explained.

Sports betting is the real definition of an adrenaline rush, profits, and immense enjoyment. With the best online sportsbooks, you can easily sign up, use bonuses, and try various international sports. But, to accelerate this thrilling journey, you must know different types of sports bets. So, let’s have a look at all the information!

Explaining Sports Bets

Sportsbet on land-based and online sportsbooks are nearly the same. The only difference is you get better perks at online sportsbooks. It includes a sign-up bonus, rewards, loyalty programs, line shopping, and much more. 

As you know, the future of cryptocurrency is bright. So, online sports betting websites are readily accepting digital payments. This is making sports betting universal, quick, safe and very convenient. So, with better security, handy tech, and 24*7 support, you can experience betting at its best.

So, The first step toward learning various types of sports bets is to learn how to read odds. This guide will teach you the basics of sports betting from scratch. The above table is a typical representation of odds for various bets. Keep reading to know about different types of sports bets.

Moneyline

Moneyline is the most common and popular type of bet among beginners. So, from the above example, Dallas Cowboys are not favoured and are called Underdogs, denoted by the (+) sign. In comparison, New England Patriots are Favourites and are represented by the (-) symbol. As a bettor, you have to predict who will win the game. Will you go with favourites or choose underdogs and take a calculated risk?

If you go for Patriots, you must wager $260 to win $100. On the other hand, if you go with Cowboys +210, your risk is $100 to win $210 profit + an initial $100. If underdogs win, you will take a good profit home.

Point Spread

A Point Spread is another popular type of bet that draws many bettors. As a result, the sports betting industry worldwide had 194.63 billion U.S. dollars in 2021, a huge jump from 2020. However, what makes this most exciting is its thrilling format.

So, in Point Spread, you bet on a specific number by which a team will win or lose a match. For example, if you bet on the Cowboys, they must forfeit the game by less than six runs or win the game outright so that you can win the bet. On the contrary, if you bet on the Patriots, they must win the game by seven or more points so that you can win the bet. 

This bet is called Runline in various sports. For example, in baseball, it’s called Run Line. The points spread is generally 1.5 because the game has low scoring. 

Totals OVER/UNDER

Totals, popularly known as OVER/UNDER, have a very interesting rule. So, citing the above example, you have to predict both teams’ combined scores. Isn’t it interesting? It will be UNDER or OVER the score oddsmakers have decided. The total is 45.5. If you bet over, the combined score must be above it for you to win the bet. On the other hand, if you go for UNDER, the total score must be less than 44.

Parlays

Initially, Parlays were only limited to a few sports. But now, many online sportsbooks are introducing it to all sports. These types of bets have massive profits because they are very risky.

So, many Sharps(professional bettors) go with this bet. It requires skill, research and knowledge of every aspect of the game. Parlays are multiple bets clubbed in one. It can be Moneyline, the Future bet, Point Spread etc. To win Parley, you have to win every single bet. If unfortunately, you lose a single bet, you will lose all the Parlay bet.

Prop Bets

Prop bets are also known as fun bets because they are entertaining. They may or may not be concerned with the game. Yes, you can bet on the weather, which player can get injured, which close one will show up at the stadium for specific players etc. 

Future Bets

As the name says, Future bets are long-term bets. They are associated with who will win the tournament, who will get maximum goals in the championship etc. So these are Future bets whose results appear in the near future.

Bonus Tips

Sports betting is a new age love which is endless. Everything is available in sportsbooks for small to big games, odds, various types of bets, and bonuses. So, one of the safest ways to enjoy sports betting is by relying on your potential. You must research players, games, and all statistics to have maximum profits. Always manage your bankroll, and don’t unconditionally chase the losses. Have a happy sports betting!