Sports Betting Types

Before you jump into sports betting, it’s vital to understand the most common bet types offered by oddsmakers. It’s shocking how many people bet on sports not realizing what they are betting on or simply not caring. Here’s a basic rundown of each of the major bets offered by the oddsmakers.

Asian Handicaps are a type of Soccer market where you place a handicap bet on a specific team. A variety of Asian Handicaps are available under Asian Lines within selected fixtures. If you placed a -1.0 Whole Line Asian Handicap bet on a team, then you would deduct one goal from that team's score once the match is over.

Point spread betting is also known as handicap betting and is the most common form of wagering for American sports bettors. Those who bet on football will be familiar with point spread wagering, but it’s also the go-to method for wagering on basketball, in both NBA and NCAA contests.

Here’s a basic example of an NFL point spread wager:

A round robin bet is one of the most complicated types of sports bets since it will allow you to wager multiple parlays at the same time with just a single bet. While round robin bets are offered in every sportsbook, they are not actually made by sports bettors very often due to their advanced nature. What are the different types of sports bets? Spread bets: Otherwise known as straight bets or handicap bets, this is a bet on the outcome of a game after a point penalty or addition for a given team. Read: Handicap betting in different sports. Total bets: a bet on the number of points or goals to be scored in the game. Bettors can bet “over. Bettors use these types of sports bets to wager on the winner of the league, tournament, or competition before it’s started. Another word for this type of bet is ante-post betting. Here’s what futures. In some sports also included the option for a draw which is sometimes referred to as a 3 way, or 1X2. A draw no bet market is betting on the result of a game by choosing which team will win. A draw means the bet is canceled and your stake is refunded. Draw no bet is a popular option for games like soccer and cricket where draws are.

NY Giants

(+7)

-110

Dallas Cowboys

(-7)

-110

Generally, US sports will list the home team on the bottom and the road team on the top. In this NFL contest, the Cowboys are favored by 7 points against the visiting Giants.

If the Cowboys won by exactly 7 points, the game would be ruled as a “push.” In this case, neither side would win nor lose, and the stakes would be returned.

However, it’s important to remember that betting pushes aren’t likely if the point spread has a half point. If this game was listed at 7.5, a push would not be possible, and bettors would either win or lose their wager.

Point spread wagering is so popular because it’s so simple. The best way for newer bettors to understand it is to add or subtract the point spread from their side’s score. Add the point spread if you bet on the underdog, and deduct points if you wagered on the favorite. If you’re covering the point spread after your basic math – you’re winning the bet.

Sports Betting Types Of Wagers

Totals, also called “overs and unders,” are generally the same across most betting markets, regardless of the sport. The concept is simple. The sportsbooks offer their estimation of the total number of points scored in a particular contest, and bettors can wager over or under that number.

Using an NBA total, here’s an example:

The 195.5 total is the number of points scored by both teams combined. Bettors can opt to bet over or under this number. Like point spread wagering, if the number hits exactly, the bet would be graded as a push, and all bets would be returned. In the above example, there can be no push due to the half point in the number.

Also, it’s important to remember that the total takes into account the full number of points scored in the game, not just in regulation. If a game goes to overtime, those points are also counted when calculating the total.

Moneylines are far and away the easiest type of bet to understand. Known in other parts of the world as “win betting,” moneyline wagers do not involve a point spread or a handicap of any kind. When betting moneylines, bettors are wagering on the winner of the contest only. There is no point spread.

Moneyline wagering is available for all major US sports and is utilized as the main wagering type for baseball and hockey. Though, in today’s betting market, there is a bit of a combo point spread and moneyline in the form of pucklines and runlines, these sports traditionally don’t offer a point spread,

Using a Major League Baseball game, here’s an example of a moneyline wager:

New York Yankees

Sports Betting Language

+130

St. Louis Cardinals

-140

As with other examples, there is a favorite and an underdog. The Yankees are on the road and the underdogs at +130, and the Cardinals are at home and the favorites at -140. As with all moneyline odds, the betting odds are based on the amount to win $100.

There are no pushes in moneyline wagering since there is no point spread. The one rare instance of a possible push in US sports is an NFL game that ends in a tie. In this case, the wager would be graded a push. This is a rare occurrence but does happen once or twice every few seasons.

Futures, also known as “outrights,” are wagers that are placed on an event that typically takes place several weeks or months later. However, they can also be bet on within a shorter timeframe until the event is decided as well.

Unlike point spread or total wagering, future markets cannot push. Bettors will either win or lose their bet.

The most common future wagers are centered on the championships of major sports. Bets on which team will win the NBA Championship, Super Bowl, or World Series are the most common type of future wagers.

Here is another example, this time using NFL Super Bowl betting odds:

If you were betting this at a sportsbook, the full list of teams would be available, but you get the idea. The above odds are listed in fractional format, but most US-facing rooms will also have them available in American odds as well.

Propositions, or “props” for short, are called “specials” by many online bookmakers. Props are markets that aren’t related to the final outcome or score of the game. They’re derivatives of the point spread and total and are sort of the “game within the game” for bettors. Originally, they were merely novelty type wagers for the Super Bowl, but now they are offered everyday for a variety of sports.

Props can be grouped into two categories, player props, and team props. The most common team prop is, “Which team will score first?”

Pittsburgh Steelers

-140

Cleveland Browns

-110

This is a team-centered proposition on an NFL contest. Now, here is an example of a player prop:

These props only scratch the surface when it comes to this market. Prop markets can be extremely large. Many sportsbooks offer hundreds of proposition bets on an NFL Sunday and dozens on a night with a full NBA slate. It’s up to the oddsmakers’ imagination, but proposition markets have an unlimited number of options.

The above bet types are still just a small part of the oddsmakers’ arsenal of wagering options, but it’s recommended newer bettors stick to these before advancing to other more complicated and advanced bet types. There is plenty of value to be found in the above markets. If you line shop correctly, you should have no issue grinding out plenty of profits with the bet types listed above.