Sports betting is one of the best forms of betting in the world. Sports betting can vary anything from football, and NBA to horse racing. But there exists different types of sports bets and wagers and it can be often intimidating to choose between them. In this article, we will discuss the different types of sports bets to make your life easier and to form an informed decision. Straight Bets
It is one of the basic kinds of bets and is followed by many of the betting punters and bettors, especially for sports like football and basketball.
- In this type of bets, a betting line is set often called as the point spread.
- You can place the bet on the favorite team or give up points to an underdog.
- The favorite team must win the bet higher than the points that is higher than the point spread. Whereas, the underdog can win with points lesser than the point spread or form a tie when it is called, “push.”
- During push, no money is lost or spent.
Total Line Bets
This is the popular betting line or the wager line after the straight bets.
- In this type of bet, a number is set aside
- It is combined for the final scoring of both the teams that are playing against each other and the bets are placed by saying, “under” or getting, “over.”
- It is generally seen in the sports like football and basketball.
Money Line Bets
While placing money line bets, you’re usually selecting a team for a straight up win or loss and nothing regarding the point spread. The risk is involved in the amount, you wager against the team you pick and the underdog. They’re generally applied by bettors that are used in all kinds of popular sports like Basketball, baseball, hockey and so on
Parlay is the term used to group two or more picks of the bets together to form a single bet. It can range anything from two separate picks to the highest number of picks by a sports book—that is 10-12 picks. The number of bets available can be adjusted based on the number of bettors, and the teams. It could be as high as 645-to-1 for a parlay of 10 teams.
If you want to cash out, your team must win or you lose the entire bet. When compared to other forms of bets, this is the most risky ones and bettors ought to be extremely careful while placing it.
These are applied or bets placed on professional golf or the NASCAR. They’re generally only two competitors in this bet. It is as simple as the straight bet we discussed earlier and the one with the highest position among the two, wins the bet. Although, the betting strategy and the procedure is simple, it is often difficult to choose an outright winner among so many that are available.