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Sports betting offers excitement with every pitch and agony with every turnover. But for a novice gambler, understanding several of the terminology can be a barrier to getting in the game. Really, sports betting is easy, and with a little basic explanation most of the lexicon is quickly understood. There are basically four kinds of bets: sides, totals, futures, and props. We’re going to explain all of these and also a little more.
Side wagers are perhaps the most frequent sports bet. Side wagers, otherwise known as straight wagers, are bets in which 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 determine whether the bet wins or not. The moneyline describes the amount a winning bet pays the victor.
Sports like baseball are played almost exclusively on the moneyline. To paraphrase, 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 really a single run. best online soccer gambling site and hockey will also be highly reliant on the moneyline.
Football and basketball use the pointspread to great extent. Unlike baseball, the moneyline is usually fixed or only changes a little.
Total Wagers – Other than betting on a team to win or cover the spread, you can bet on the total range of points/runs/scores in a sporting event. The sportsbook sets a totals which will be 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 sporting 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 connected with it to determine the payout – the longer the underdog the better the return. If 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 long time to resolve causes the stake (the amount you wagered) to be unavailable for many months. On top of that, futures usually either be longshots that pay out infrequently or favorites which have very little reward tempting you to place a large wager. All of us like to have wishful thinking betting on your favorite team or players.
Props – For major sporting events prop wagers tend to be available. Prop wagers are anything that will not fit into the categories above. Consider props completely fun bets – the odds tend to be awful and rarely any skill goes in to the bet. The Superbowl per year has hundreds of potential prop bets starting from the coin flip, to whether or not the game ends in overtime. Inbetween you bet on the teams and individual players. As an example, the range of interceptions for the quarterback or perhaps 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 since 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 may need to know for bet types as it covers all the typical bets made in a sportsbook!