The most straightforward type of bet is a moneyline, where you need to pick which team (or athlete for individual sports like tennis) will win a game. If you backed the winner, your bet wins. If you bet on the loser, you will lose your stake.
A parlay bet is made of several wagers combined into one bet. You’ll get better odds and a higher potential payout than just wagering on each market individually. However, all of your bets must come through for a parlay to win. If one wager, or leg, of your parlay fails, you lose the bet. For example, you bet on four different teams to win. You win your bet if all four teams are victorious. However, if just one of the four teams lost, you would lose your stake.
You don’t just have to bet on a match winner either, as some sportsbooks offering same game parlays. You can combine multiple stats like moneylines, totals, and props from one game into a parlay.
A prop bet is a wager that doesn’t determine the final score, such as betting on separate players to score a home run in baseball. Home runs contribute to the final score, but which player scores the home run does not. Most prop bets are presented as over/under, like a player scoring over/under four runs in an MLB game. However, you also get ‘+’ prop bets which are essentially just overs. You could bet on an NFL player to register 90+ rushing yards.
You can place prop bets on individual statistics or team statistics.
With an over/under bet, the betting site sets a total score or result in a game, and you bet whether it will be over or under that number. The most widespread over/under bets are totals, which ask you to predict the combined final score of a game, regardless of the winner.
A sportsbook could offer a total of 220 for a basketball game. You win if you choose the over and both teams score more than 220 points combined. It doesn’t matter which team scores the points, as long as the final amount matches your prediction. You’ll also find over/under bets for markets like passing yards or 3-pointers.
Points spread betting asks you to predict whether a team will win by a certain margin of points or lose within a certain margin of points. Point spread bets will have American odds, and also another number with a (+) or (-) symbol. The number next to the (-) symbol tells you the number of points a team must win by for you to win your wager. The number next to the (+) symbol tells you how many points a team can lose by for your bet to succeed. The underdog can also win and your wager will come through.
Future bets are wagers on significant events in the far future. Futures include wagering on the World Series winner or which player will pick up the MVP award. Odds on future bets change the closer the event is, as more information about injuries and form is known. Betting on futures at the start of the season rather than midway through is a top way to get the best odds.