Sports betting offers excitement with every pitch and agony with every turnover. But for a novice gambler, understanding some of the terminology may be a barrier to getting in the game. Really, sports betting is easy, and with a little basic explanation most of the lexicon is conveniently understood. There are basically four types of bets: sides, totals, futures, and props. We shall explain all of these and a bit more.
Side wagers are probably the most frequent sports bet. Side wagers, often known as straight wagers, are bets the place you pick a team to win. Side wagers have two variables – the pointspread and the moneyline. The pointspread is the number of points either added to the underdog score or subtracted from the favorite to ascertain whether or not the bet wins or not. The moneyline describes just how much a winning bet pays the victor.
Sports like baseball are played almost exclusively on the moneyline. In other words, the pointspread is assumed to be zero. Many sportsbooks offer a runline, where the pointspread is 1.5 runs, meaning the favorite has to win by two, not a single run. Soccer and hockey are usually highly reliant on the moneyline.
Football and basketball use the pointspread to great extent. Unlike baseball, the moneyline is often fixed or only changes just a little.
Total Wagers – Other than betting on a team to win or cover the spread, you can bet on the total number of points/runs/scores in a sporting event. The sportsbook sets a totals which is simply a number which they feel will generate bets over and under the total. If you bet over, you are betting that the sum of the competitors scores will be higher than the total. Then again, if you bet under, you are betting fewer points are scored than the total.
Futures – Sides and totals are accessible for most conventional sports events pitting Team A against Team B. But how does that work for golf tournaments or nascar races? Tennis matches may be bet with sides, but how about predicting a tournament champion? Or betting on the eventual super Bowl champion? Bets with more than 2 competitors are bet by futures. Each option has a moneyline affiliated with it to ascertain the payout – the longer the underdog the better the return. In the event you can correctly pick a longshot — and win — even a small bet can pay off often times over.
Betting futures does have disadvantages. First of all, betting a future which takes a while to resolve causes the stake (the total amount you wagered) to be unavailable for many months. On top article of that, futures tend to either be longshots that pay out infrequently or favorites which have very little reward tempting you to place a sizable wager. We all like to have wishful thinking betting on your favorite team or players.
Props – For major professional sports prop wagers tend to be available. Prop wagers are anything that won’t fit in to the categories above. Consider props completely fun bets – the odds are usually awful and rarely any skill goes into the bet. The Superbowl every year has hundreds of potential prop bets ranging from the coin flip, to whether or not the game ends in overtime. Inbetween you bet on the teams and individual players. One example is the number of interceptions for the quarterback or even the range of rushing yards for the running back.
Live Betting – Some advanced sportsbooks are now offering live in-game betting. These are really prop bets, but considering that the bets have an extremely short duration (e.g. will a first down be the result of the next play) they need their own category.
That should be all you need to know for bet types as it covers all of the typical bets made in a sportsbook!