Sports betting has gained immense popularity in the US since the Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 in 2018. With over 30 states legalizing online sports betting, each state has its unique set of laws. For beginners, understanding the different types of bets can be confusing. In this guide, we will discuss the most popular types of sports bets.
Moneyline Bets
Moneyline bets are the easiest to understand. In this type of bet, you predict which team or athlete will win a game. American odds represent the underdog and favorite, with the favorite having a triple-digit number and a (-) symbol, while the underdog is represented with a (+) plus sign. The number next to the favorite (-) symbol tells you how much you need to wager to win $100. The number next to the (+) symbol tells you how much you win if you bet $100.
Point Spread Betting
Point spread betting requires you to predict whether a team will win by or lose within a certain margin of points. The (-) symbol indicates the number of points a team must win by for you to win your wager. The (+) symbol tells you how many points a team can lose by for your bet to succeed. The American odds next to the point spread bet tells you how much you can win.
Parlays
Parlays combine multiple wagers into one single bet. Each wager, or leg, must come through for you to win a parlay. Parlays are riskier than betting on each game individually, but they also offer better odds.
Over/Under Bets
In an over/under bet, the sportsbook sets a total for a particular statistic. You then predict whether the result will be over or under that number. It doesn’t matter which team scores the points, as long as the final amount matches your prediction.
Prop Bets
Prop bets are wagers that don’t determine the final score but instead predict something that may or may not contribute to the result in a sporting event. Prop bets could be placed on individual players to score touchdowns or on individual statistics of players or the team as a whole.
It’s important to remember that some states prohibit prop betting on college sports.
Futures Bets
Futures bets are wagers on events that will happen in the future, like predicting the winner of the Super Bowl or the World Series. Sports betting enthusiasts often place futures bets at the beginning of the season to get the best odds, as the odds change based on injuries and form.
Futures bets are not limited to just sports like baseball. In fact, you can place futures bets on a variety of events, such as political elections or even the outcome of reality TV shows.
When placing a futures bet, it’s essential to do your research and stay up-to-date on any relevant news or information that could impact the outcome of the event. By doing so, you can make more informed decisions and increase your chances of making a successful wager.
Conclusion
Sports betting is an exciting way to engage with your favorite sports and potentially earn some extra cash. The different types of bets, such as moneyline, point spread, parlays, over/under, prop bets, and futures bets, offer a variety of wagering options for sports enthusiasts. Futures bets, in particular, provide a unique opportunity to wager on events in the far future. However, it’s crucial to stay informed and make educated decisions when placing these bets. By understanding the various types of sports bets and keeping up with relevant news, you can increase your chances of success in the world of sports betting.
