Navigating the world of sports betting can feel overwhelming. With countless betting options across dozens of sports, you might find yourself confused about where to start or how to maximize your chances of winning.
The good news?
Understanding the different types of bets available to you is the first step toward making more informed decisions and potentially increasing your success rate. In this comprehensive guide, we break down every major betting type in precise detail, providing you with the knowledge you need to approach your next wager with confidence.
Whether you’re looking to place simple bets or explore more complex wagering strategies, this article has you covered.
Basic Bet Types
Moneyline/Win Bets
The moneyline bet stands as the purest form of sports wagering—simply picking who will win a contest. When you place a moneyline bet, you’re wagering solely on which team or competitor will emerge victorious, regardless of the margin of victory.
Moneyline odds are presented in three common formats:
- American odds: Displayed with a plus (+) or minus (-) sign. A minus sign indicates the favorite and shows how much you need to bet to win $100. A plus sign represents the underdog and shows how much you win if you bet $100. If you see Team A at -150, you need to bet $150 to win $100 in profit. If Team B is at +130, a $100 bet would win you $130 in profit.
- Decimal odds: Common in Europe and Australia, these represent the total return on a $1 bet, including your stake. If you see Team A at 1.67, a $100 bet would return $167 (your $100 stake plus $67 profit). Team B at 2.30 means a $100 bet returns $230 (your $100 stake plus $130 profit).
- Fractional odds: Popular in the UK, these show the profit relative to your stake. If Team A has odds of 2/3, you’ll win $2 for every $3 you bet. If Team B has odds of 13/10, you’ll win $13 for every $10 wagered.
Let’s say you’re watching a football game between the Eagles and the Bears. The Eagles are favored with moneyline odds of -200, while the Bears are underdogs at +170. If you bet $200 on the Eagles and they win, you profit $100 (plus your original $200 stake). If you bet $100 on the Bears and they pull off the upset, you profit $170 (plus your original $100 stake).
Point Spreads
Point spreads equalize the playing field by handicapping the favorite team, making both sides of the bet theoretically equal in terms of probability. The favorite gives (or “lays”) points, while the underdog gets (or “takes”) points.
When you see a point spread, it typically looks like this:
- Team A -7.5 (-110)
- Team B +7.5 (-110)
This means Team A is favored by 7.5 points. For a bet on Team A to win, they must win the game by 8 or more points—they need to “cover the spread.” If you bet on Team B, you win if they either win the game outright or lose by 7 or fewer points.
The -110 in parentheses represents the odds (in American format) for that bet. At -110, you need to bet $110 to win $100. This extra $10 is effectively the commission (or “vig”) that the sportsbook charges for taking your bet.
Half-point spreads (like the 7.5 above) eliminate the possibility of a “push” or tie. If the spread were 7 instead of 7.5, and Team A won by exactly 7 points, all bets would be returned as pushes.
For instance, if you’re betting on a basketball game between the Lakers and the Clippers, the spread might be Lakers -6.5. If you bet on the Lakers, they need to win by 7 or more points for you to win your bet. If you bet on the Clippers at +6.5, you win if the Clippers either win the game outright or lose by 6 or fewer points.
Totals (Over/Under)
Total bets, commonly known as over/under bets, focus on the combined score of both teams rather than the winner of the contest. The sportsbook sets a number for the total points, goals, or runs expected in the game, and you bet on whether the actual total will be over or under that number.
For example, in an NBA game, the total might be set at 220.5 points:
- Over 220.5 (-110)
- Under 220.5 (-110)
If you bet the over, you need the combined score of both teams to be 221 points or more. If you bet the under, you win if the combined score is 220 points or less.
The half-point in the total (220.5 rather than 220) eliminates the possibility of a push, just as with point spreads.
Totals are available for full games, halves, quarters, and even for individual team totals. If you’re watching a football game with a total of 47.5, and the final score is 27-24 (for a combined 51 points), the over would win. If the final score were 24-20 (for a combined 44 points), the under would win.
Total bets are popular because they allow you to root for (or against) scoring without having to pick a side in the contest itself.
Combination and Multiple Bets
Parlays
A parlay combines multiple individual bets into one larger bet. All selections in a parlay must win for the parlay to pay out. If even one selection loses, the entire parlay loses. However, the potential payout is significantly higher than if you were to place each bet separately.
Parlay odds multiply the odds of each individual selection, which is why the payouts can be so attractive. Most sportsbooks offer parlays of 2 to 15 teams, with payouts increasing exponentially as you add more teams.
For instance, if you create a three-team parlay with the following bets:
- Team A -7 (-110)
- Team B +3.5 (-110)
- Game C Under 44.5 (-110)
If all three bets win, a $100 wager would return approximately $600 (including your stake). However, if Team A only wins by 6 points, the entire parlay loses, even if your other two selections win.
Some key parlay facts to understand:
- Pushes in parlays: If one selection in your parlay pushes (ties), that selection is typically removed from the parlay, and the odds are recalculated based on the remaining selections.
- Parlay cards: Some sportsbooks offer fixed-odds parlay cards, especially for football, with slightly lower payouts but easier-to-understand odds.
- Progressive parlays: These allow you to still receive a reduced payout even if one (or sometimes more) of your selections loses.
If you’re watching a full day of NFL games and you’re confident in three different point spread bets, you might parlay them together. If all three teams cover, you win significantly more than if you had bet them individually. If even one team fails to cover, you lose the entire parlay.
Teasers
A teaser is a type of parlay that allows you to adjust the point spread or total in your favor, in exchange for a lower payout. Teasers are most common in football and basketball.
In a typical football teaser, you can adjust the spread by 6, 6.5, or 7 points. In basketball, common teaser options are 4, 4.5, or 5 points.
Let’s say you like these two NFL point spreads:
- Team A -7 (-110)
- Team B +3 (-110)
With a 6-point teaser, you would adjust each line by 6 points in your favor:
- Team A -1 (originally -7)
- Team B +9 (originally +3)
Now Team A only needs to win by 2 or more points (instead of 8 or more), and Team B can lose by up to 8 points (instead of just 2) and still cover the spread.
The trade-off is that your potential payout is much lower than a standard parlay. A two-team, 6-point football teaser typically pays around -110, meaning you bet $110 to win $100.
Some key aspects of teasers:
- All selections must still win for the teaser to pay out
- The more points you tease by, the lower the payout
- The more teams in your teaser, the higher the payout (but also the higher the risk)
If you’re looking at two football games where the spreads are close to key numbers (like 3 or 7), a teaser might be an attractive option to get those spreads on the right side of those key numbers.
Pleasers
A pleaser is essentially the opposite of a teaser. Instead of moving the lines in your favor, you move them against yourself, making them harder to win but significantly increasing the potential payout.
For example, with these two NFL point spreads:
- Team A -7 (-110)
- Team B +3 (-110)
In a 6-point pleaser, you would adjust each line by 6 points against yourself:
- Team A -13 (originally -7)
- Team B -3 (originally +3)
Now Team A needs to win by 14 or more points (instead of 8 or more), and Team B actually needs to win outright by 4 or more points (instead of just losing by 2 or fewer).
The payouts for pleasers are substantially higher than standard parlays. A two-team, 6-point pleaser might pay around +600 (bet $100 to win $600), compared to a standard two-team parlay at +260.
Pleasers are high-risk, high-reward bets that you should approach with caution. They’re best used when you have a very strong conviction about teams winning by large margins or underdogs winning outright.
Round Robins
A round robin is a series of smaller parlays created from a larger set of bets. It allows you to win something even if not all of your selections win.
For instance, if you select three teams (A, B, and C), a round robin would create these three different two-team parlays:
- Team A and Team B
- Team A and Team C
- Team B and Team C
If you bet $10 on each of these parlays (for a total of $30), you could still win something even if one of your teams loses. If all three teams win, you win all three parlays. If only Teams A and B win, you win the first parlay but lose the other two.
Round robins can be created with varying numbers of teams and parlay sizes. They provide a middle ground between the security of single bets and the high payouts of parlays.
If you’re considering a 5-team parlay but want some insurance against one or two teams losing, a round robin might be a good alternative. You’ll pay more upfront (because you’re placing multiple bets), but you have a better chance of at least getting some return on your investment.
Proposition Bets
Player Props
Player proposition bets (props) focus on individual player performance rather than team outcomes. These bets are extremely popular, especially in high-profile games and fantasy sports enthusiasts.
Common player props include:
- Over/under on a player’s points, rebounds, assists, etc.
- Whether a player will score a touchdown, goal, or home run
- Head-to-head matchups between two players
For example, in an NBA game, you might see props like:
- LeBron James Over/Under 27.5 points
- Steph Curry to make Over/Under 4.5 three-pointers
- LeBron James points vs. Kevin Durant points (who will score more)
Let’s say you’re watching a football game, and you notice that a running back has exceeded 100 yards in three straight games. The sportsbook sets his rushing yards prop at 95.5 for the upcoming game. If you believe in his hot streak continuing, you bet the over and win if he rushes for 96 or more yards.
Player props provide a way to bet on specific aspects of a game without necessarily having to predict the winner or final score.
Team Props
Team props function similarly to player props but focus on team performance metrics rather than individual players. These can include a wide range of outcomes that don’t directly determine the winner of the game.
Common team props include:
- Over/under on a team’s total points, goals, or runs
- Whether a team will score in a specific quarter or period
- How many three-pointers, field goals, or other statistical categories a team will achieve
For example, in an NFL game, you might see team props like:
- Team A Over/Under 24.5 total points
- Team B to score a touchdown in the first quarter (Yes/No)
- Team A total field goals Over/Under 1.5
If you’re watching a basketball game between two defensive-minded teams, you might bet the under on a team’s first-quarter points if you expect a slow start. If the line is set at 27.5 points, you’d win your bet if the team scores 27 or fewer points in the first quarter.
Team props allow you to capitalize on specific team strengths or weaknesses without having to predict the broader outcome of the game.
Game Props
Game props cover specific occurrences within a game that don’t necessarily directly relate to the final outcome. These can range from the commonplace to the obscure, especially for major events like the Super Bowl.
Common game props include:
- Will there be overtime?
- Which team will score first?
- Will there be a safety, field goal, or specific type of scoring play?
- Total number of corner kicks, free throws, or sport-specific events
For example, in a soccer match, you might see game props like:
- First team to score (Team A, Team B, or No Goal)
- Will both teams score? (Yes/No)
- Total corner kicks Over/Under 9.5
If you’re watching a closely matched football game, you might bet “Yes” on whether there will be overtime if you expect a tight contest. If the game indeed goes to overtime, you win your bet, regardless of which team ultimately wins.
Game props add another layer of interest to watching sports, as you can win your bet long before the game concludes, or find yourself rooting for specific occurrences rather than a particular team.
Time-Based Bets
First Half/Second Half Bets
First half and second half bets allow you to wager specifically on the outcome of just one half of a game, rather than the entire contest. These bets work similarly to full-game bets but are settled based only on the score during the specified half.
Common first/second half bets include:
- Point spreads for just the first or second half
- Moneylines for just the first or second half
- Totals (over/under) for just the first or second half
For example, in a basketball game, you might see first half bets like:
- Team A -3.5 first half (-110)
- First half total Over/Under 110.5 (-110)
- Team B +150 first half moneyline
If you notice that a football team consistently starts slow but finishes strong, you might bet on their opponent for the first half spread, but then bet on the original team for the full game or second half spread. This way, you’re capitalizing on their pattern of performance.
First and second half bets provide more granular betting options and can be especially valuable if you’ve identified specific trends in how teams start or finish games.
Quarter/Period Bets
Even more specific than half bets, quarter or period bets allow you to wager on the outcome of a single quarter in basketball or football, a single period in hockey, or a similar subdivision in other sports.
As with half bets, quarter/period bets typically offer the same bet types as full-game bets:
- Point spreads for just that quarter/period
- Moneylines for just that quarter/period
- Totals for just that quarter/period
For example, in an NBA game, you might see:
- Team A -2.5 third quarter (-110)
- Third quarter total Over/Under 55.5 (-110)
- Team B +135 third quarter moneyline
If you know that a hockey team tends to come out aggressive in the first period but then play more defensively, you might bet the over on the first period total and the under on the full game or later periods.
Quarter/period bets allow for highly targeted wagering based on specific patterns you’ve observed in team performance across different game segments.
Live/In-Play Betting
Live betting, also known as in-play betting, allows you to place bets while a game is in progress. Odds and lines update in real-time based on the current state of the game, giving you the opportunity to react to how events are unfolding.
Live betting offers nearly all the same bet types as pre-game betting:
- Updated point spreads and moneylines
- Updated totals
- Player and team props
- Next scorer or next point
The key difference is that these odds are constantly changing based on what’s happening in the game.
Let’s say you’re watching a basketball game where the pre-game favorite starts slowly and falls behind early. The live point spread might now show them as underdogs. If you still believe they’ll come back and win, you can now bet on them at more favorable odds than were available before the game.
Live betting requires quick decision-making and a good understanding of momentum and game flow. It also offers the ability to hedge pre-game bets if things aren’t going as expected.
Future and Outright Bets
Championship/Tournament Winners
Futures bets on championship or tournament winners allow you to bet on which team or player will win an entire competition, often well in advance of the event.
These bets typically offer higher odds than regular game bets because they’re harder to predict, especially early in a season or tournament when many outcomes are still possible.
Examples include:
- Which team will win the Super Bowl, World Series, or NBA Championship
- Which player will win a tennis Grand Slam or golf major
- Which country will win the World Cup or Olympics
If you bet on a football team to win the championship before the season starts at +2000 odds, a $100 bet would return $2,100 ($2,000 profit plus your $100 stake) if they go on to win the title.
The earlier you place a futures bet, the better odds you typically receive, but the longer your money is tied up and the more uncertainties exist (like potential injuries or trades).
Division/Conference Winners
Similar to championship futures, division or conference winner bets allow you to wager on which team will win their specific division or conference, rather than the overall championship.
These bets offer a middle ground—they’re easier to predict than championship winners but harder than individual games, with odds reflecting this medium difficulty.
Examples include:
- Which team will win the NFC East in the NFL
- Which team will win the Western Conference in the NBA
- Which team will win the AL Central in MLB
If you notice that a baseball team has made significant off-season improvements while the rest of their division has weakened, you might bet on them to win their division even if they aren’t yet considered championship contenders.
Division and conference winner bets allow you to capitalize on your knowledge of specific groups of teams rather than having to predict the overall champion from a larger field.
Individual Awards
Futures bets on individual awards focus on which player will win specific accolades at the end of a season or tournament.
Common individual award futures include:
- MVP (Most Valuable Player)
- Rookie of the Year
- Cy Young Award (baseball)
- Scoring title or other statistical achievements
For example, you might bet on a promising NFL quarterback to win MVP at +1200 odds before the season starts. If he has a breakout season and wins the award, a $100 bet would return $1,300.
Individual award futures require you to project not just player performance but also narrative elements, as many awards are influenced by media voting and storylines.
Specialty Bet Types
If Bets and Reverse Bets
If bets and reverse bets are conditional wagers that link two or more bets together in a specific order.
In an if bet, the second bet is only placed if the first bet wins. For example, if you place a $100 if bet on Team A and then Team B:
- If Team A wins, your $100 win plus your original $100 stake ($200 total) is then wagered on Team B
- If Team A loses, the entire if bet is over, and you lose your initial $100
- If Team A wins but Team B loses, you lose your entire $200 on the second bet
A reverse bet is essentially two if bets in opposite directions. Using the same teams:
- One if bet with Team A first, then Team B
- Another if bet with Team B first, then Team A
This ensures that at least one of your bets will be active regardless of which team plays first or which initial outcome occurs.
These bet types help manage risk by establishing conditions for when subsequent bets are placed, rather than placing all bets simultaneously as in a parlay.
Asian Handicaps
Asian handicaps are a form of point spread betting that originated in Asia and eliminate the possibility of a push by using quarter-goal or half-goal spreads in soccer.
What makes Asian handicaps unique is the use of split handicaps, where your bet is divided between two different but adjacent handicaps.
For example, a handicap of +0.25 (written as +0, +0.5) means half your bet is placed at 0 (draw no bet) and half at +0.5. If the game ends in a draw, half your bet pushes (stake returned) and half wins, resulting in a partial win overall.
Common Asian handicap options include:
- +0.25, +0.75, +1.25, etc. (split handicaps)
- 0, +0.5, +1, +1.5, etc. (whole and half handicaps)
If you bet on a soccer team with a -1.25 Asian handicap, half your bet is placed at -1 and half at -1.5. If your team wins by exactly one goal, half your bet pushes and half loses, resulting in a partial loss.
Asian handicaps are popular because they provide more nuanced betting options, especially in soccer where draws are common.
Spread Betting
Spread betting differs from fixed-odds betting in that your potential winnings or losses aren’t fixed but instead depend on how right or wrong your prediction is.
Instead of betting a fixed amount to win a predetermined profit, you win or lose a specific amount for each point or unit by which your prediction is right or wrong.
For example, if you “buy” the total at 50 points for $10 per point:
- If the actual total is 60 points, you win $100 (10 points × $10)
- If the actual total is 45 points, you lose $50 (5 points × $10)
The more right you are, the more you win; the more wrong you are, the more you lose. This creates a situation where your potential loss can exceed your initial stake if your prediction is significantly off.
Spread betting offers potentially higher rewards but comes with higher risk, as your losses aren’t limited to your initial stake as they would be in fixed-odds betting.
Specialized Sport-Specific Bets
Baseball Run Lines
The run line in baseball is the sport’s equivalent of a point spread, but with a twist. Because baseball is typically a low-scoring game with tighter margins, the standard run line is almost always set at 1.5 runs.
A typical run line might look like:
- Team A -1.5 (+140)
- Team B +1.5 (-160)
If you bet on Team A at -1.5, they need to win by 2 or more runs for you to win your bet. The +140 odds indicate this is harder to achieve, so the payout is higher.
If you bet on Team B at +1.5, you win if they either win outright or lose by only 1 run. The -160 odds reflect that this is more likely to happen, so you’d need to bet $160 to win $100.
Run lines provide an alternative to the often heavily skewed moneylines in baseball, where favorites can be priced at -200 or higher.
Hockey Puck Lines
Similar to baseball’s run line, the puck line in hockey is the sport’s version of a point spread. The standard puck line is typically set at 1.5 goals.
A common puck line might appear as:
- Team A -1.5 (+170)
- Team B +1.5 (-200)
Betting Team A at -1.5 means they need to win by 2 or more goals for your bet to win. The +170 odds offer a higher payout because this is more difficult to achieve.
Betting Team B at +1.5 means they can either win outright or lose by only 1 goal for your bet to win. The -200 odds reflect the greater likelihood of this outcome.
Puck lines provide value when you believe a favorite will win comfortably or when you think an underdog will keep the game close, even if they don’t win outright.
Soccer Draw No Bet
Draw No Bet in soccer removes the possibility of losing your bet if the match ends in a draw. If the match does end in a draw, your stake is returned to you.
This bet type effectively reduces your options to just two outcomes:
- Team A win (your bet wins)
- Draw (your stake is returned)
- Team B win (your bet loses)
The odds for Draw No Bet are typically lower than standard moneyline odds since you’re eliminating one possible way to lose your bet.
For example, instead of betting Team A at +150 in a standard three-way market (win, draw, loss), you might bet them at -110 in a Draw No Bet market. You’re accepting lower odds in exchange for the security of getting your money back if the match ends in a draw.
Draw No Bet is popular in soccer because draws are relatively common, occurring in roughly 25-30% of matches across major leagues.
Final Thoughts
Understanding the vast array of betting options available to you is crucial for making informed wagering decisions. While this guide covers most major bet types, remember that different sportsbooks may offer variations or unique betting options not covered here. As you gain experience, you’ll develop preferences for certain bet types based on your risk tolerance, the sports you follow most closely, and your analytical strengths.
The key to successful sports betting lies not just in understanding these different bet types but in knowing when to apply them based on your analysis and the specific circumstances of each game or event. Start with the basics, gradually incorporate more complex bets as you gain confidence, and always bet responsibly, wagering only what you can afford to lose.
Armed with this knowledge, you’re now better equipped to navigate the exciting world of sports betting with greater confidence and a more strategic approach. Good luck!
