The availability of many gambling options elicits massive interest in sports betting. New bettors are often excited by the enormous possibilities offered by different sportsbooks, only to realise that they do not have an idea of what they might doing after they start making losses.
Thankfully, this write-up will help you understand some technical elements around sports betting, and clear up any confusion. Whether you are new to gambling, or you are looking to freshen things up, we are going to help you understand how different types of wagers in sports betting work.
Technical elements
- Moneyline Bets: This is one of the simplest sports bets you are likely to come across. A money line bet is a wager placed on who will win the game or contest. Thus, you only need to bet on the team you feel will win, and if they win, you win your bet.
- Spread Bets: A spread bet is a wager that allows a bettor to place a bet based on the sportsbook’s expectations. A sportsbook picks teams and comes with an estimate on the number of goals, or points, the team is going to win by. This number is known as the line spread. The bettor then places their wager on the side they feel will outperform the odds given by the sportsbook.
- Under/Over Bets: Also known as totals bets, these bets give you an opportunity to root for, or against, both teams. Here, you bet on the total number of goals or points. These bets are often favourable when you understand the general flow of the game.
- Prop Bets: These type of bets allow the player to place their wagers on whether things proposed by the sportsbook will happen or not. An excellent example of a prop bet is a proposition such as “Arsenal to score first.”
- Parlay Bets: This type of bet essentially involves grouping multiple stakes into one bet, for a larger playout. However, all teams on your bet slip must be successful for you to win. One loss, you start all over again, and one lucky week, you laugh all the way to the bank.
- Future Bets: This type of bet involves placing a wager on something that will not be settled in the next match. For instance, betting on a team like Barcelona to win the Spanish La Liga at the start of the season constitutes a future bet.
- In-Game Bets: Also known as live bets, in-game bets are all about placing bets when the game has already started. This can be on an ended result or an upcoming play.
Knowledge of different bet types should make you confident about logging into a sportsbook site. The takeaway is that you should always bet on what you feel works best for you.