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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 within the game. Really, sports betting is easy, and with a little basic explanation most of the lexicon is quickly understood. There are actually basically four types of bets: sides, totals, futures, and props. We are going to explain all of these and also a little more.
Side wagers are probably the most frequent sports bet. Side wagers, also known as straight wagers, are bets where you pick a team to win. Side wagers have two variables – the pointspread as well as the moneyline. The pointspread is the range of points either added to the underdog score or subtracted from the favorite to find out whether the bet wins or not. The moneyline describes simply 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 must win by two, not really a single run. excellent soccer 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 just a little.
Total Wagers – Other than betting on a team to win or cover the spread, you may bet on the total number of points/runs/scores in a sporting event. The sportsbook sets a totals which is just 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. On the contrary, if you bet under, you are betting fewer points are scored than the total.
Futures – Sides and totals are readily available for most conventional sports events pitting Team A against Team B. But how does that work with golf tournaments or nascar races? Tennis matches can 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 associated with it to discover the payout – the longer the underdog the higher 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. To start with, betting a future that takes a long time to resolve causes the stake (the amount you wagered) to be unavailable for many months. Also, futures have a tendency to either be longshots that pay out infrequently or favorites which have very little reward tempting you to place a large wager. We all like to have wishful thinking betting on your favorite team or players.
Props – For major sporting events prop wagers will often be available. Prop wagers are anything that does not fit in to 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 on a yearly basis has hundreds of potential prop bets ranging from the coin flip, to whether the game ends in overtime. Inbetween you bet on the teams and individual players. For instance, the number of interceptions for the quarterback or perhaps the number of rushing yards for the running back.
Live Betting – Some advanced sportsbooks are now offering live in-game betting. They are really prop bets, but since the bets have an incredibly short duration (e.g. will a first down be the result of the next play) they need their very own category.
That should be all you need to know for bet types as it covers all the typical bets made in a sportsbook!
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