Online sports betting has become an extremely popular means of wagering for different sports. Moreover, it is incredibly convenient and easy for bettors to place their wagers. On top of that, you can put money on as many bets as possible! But before that, you must be familiar with the different types of sports you can do first.
Money Line Bets
Moneyline is the most common type of bet that most bettors try out, especially for the newbies to sports betting. It is also called the win bet, and it is probably the type of bet you must have already done before knowing what it is called. Moneyline betting is a bet where you try to predict a team or a person who will win the match, event, or game.
For instance, you are trying to bet on a match between two teams. Then you choose the first team to win the event, and in the end, if they win the game, you will get to win the amount you have wagered.
Over/Under Bets One of the best ways to get people to bet on sports is the ease involved. Over/Under is one of the easiest bets to understand. It is also one of the most popular sports betting available in most sportsbooks. It is called over/under because you will need to bet whether the final score would go over or under.
For the Over/Under bet, the online sportsbook will set a predicted total score for both teams. So, as a bettor, you will predict whether the set total score would go over or under that the sportsbook issued.
So if a sportsbook sets a total score of 245 for a game of an NBA match, you will bet whether both of the teams will end up having a score more than or less than that. However, if their total score at the end of the game ends up having the exact number set by the sportsbook, the bettors will be refunded. There will be no winning bet.
Parlay Bets
If you are the extreme type of betting or would instead place a bet on events with heightened excitement, the parlay bets may be for you. Parlay bets are a group of individual bets that you must win to bag the winning amount. It can be two bets or three or more, depending on the rules of your sportsbook, and each of these bets is called legs.
To further understand this bet, imagine placing a wager on multiple different matches. To win, all of your choices must rank first. So, if only three of the four teams or individuals you picked won their event, you still lose. Despite winning or placing first in their events, if not four of them succeed in their respective matches, you still lose your bet.
That is also why parlays have a higher risk than other types, as mentioned earlier, but the payouts are relatively high in this type of bet.
Point Spread/ Handicap Bets
Point spread or handicap bets are other popular types of bet that bettors wager on. If you are fairly familiar with sports betting spreads, you will not have difficulty understanding point spread betting. Moreover, point spread betting is the sportsbook’s way to even out the odds.
In the point spread, you will notice two signs, the minus sign, which indicates the favorite team, and the plus sign, the underdog. At odds, the underdogs are the teams that are the least likely anticipated winners of a game. Conversely, the favorites are the teams predicted to win a game.
Additionally, these signs will be accompanied by a number. The numbers are called the spread, and it is the total points that the teams are expected to win or lose.
For instance, a team is favored by -8.5, and the underdog is +10. If you bet on the favorite team, they will first need to win 8.5 points or more over the underdog. They do not just win, but they must also reach a specific points gap to get your payout.
On the other hand, betting on the underdog seems lighter than betting on the favorite. They will only need to beat their odds and outright win the game, or if they can decrease the point gap by nine or less.
Future Bets
As the name suggests, future bets include betting on game events or matches that will eventually occur in the future. In most cases, future bets require bettors to pick a winner for the whole season or the championship. In other words, it is an advance bet.
Most sportsbooks offer this type of bet, and for a more efficient experience, they will also present the odds throughout the season. The only risk for the future is that it happens way far, and bets can change drastically, so it can be a bit hard to choose a winner. Still, the payouts are a bit higher on this type of bet, so you can guarantee a good payout if you win.
Final Thoughts
If you are new to sports betting, always keep in mind that you can only enjoy these bets if you are with the right sportsbook. Nonetheless, the listed stakes above have attractive payouts. So, if you are considering what chances to take, read the bets listed above and place your wager!
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