Sports Betting 101 – Understanding the Different Types of Bets

sports betting

When it comes to sports betting, you should be aware of the various types of bets that you can place. These bets range from money line and total-line bets to Futures bets and In-play bets. Before you place your bets, be sure to understand the odds of each. You can use the odds to determine the size of your payouts. These odds may be different than those posted by other sportsbooks.

Total-line bets

When it comes to sports betting, total-line bets are one of the most popular ways to wager on any given game. They are an excellent way to increase your winnings if you know the odds of the game’s total score. However, they do have their disadvantages, too. Below, we will look at the benefits and risks of total-line bets. In general, totals are lower-vig markets. The sportsbooks keep a smaller percentage of the money bettors place and, therefore, expect to pay a chunk of that money back to you.

Futures bets

While most sports bettors place wagers on individual games, futures offer the suspense of a multiple-game wager. For example, a person can bet on the Braves to win the World Series, or on LeBron James to win the NBA MVP award. Futures bets can also be placed on the win total of an entire season, like the NBA Finals or the Super Bowl.

Money line bets

One of the most common bet types is money line bets. This type of bet involves betting on the spread between the number of points a team can win by as much as three points. The money line moves up and down with the flow of information from other bets, injuries, weather conditions, and more. If a sharp player makes a large bet, the sportsbook will often react by moving the line higher. Sharp players are respected by the sportsbooks, and the lines will move upwards or downwards depending on the action.

In-play bets

While in-play betting has been around for a while, it is still relatively unknown to the average bettor. That’s why it’s crucial to know as much as possible about this new form of wagering before making a bet. This study looked at the evolution of in-play betting through a comprehensive literature review, an examination of 338 online gambling websites, and other sources for information on the topic. The results of this study showed that 26% of online gambling websites offer at least one in-play betting feature.

Circled games

In sports betting, circled games are a red flag, and should be treated as such. Depending on the situation, a circled game can affect betting limits or the game line. In the NBA, for example, a star player could be rested, or the spread could move a lot, depending on who’s playing. So, be sure to investigate why a circled game is a red flag and jump in when the line moves.

Co-favorite games

Favorite games are also known as chalk. The favorite team is expected to win by a large margin. For example, the Kansas City Chiefs are a -7 point favorite over the Denver Broncos. This means that the Chiefs will most likely win the game by seven points. Likewise, the Los Angeles Lakers are the chalk side in the NBA Finals. The closing line is the final betting odds prior to a competition.

Tie bets

In sports betting, ties are more common than losses. A tie is when a team wins but does not win the money wagered on the game. A three-game parlay will become a two-team parlay if the dog is picked to lose. If a team loses in the tie, all money wagered on the other team will be returned to bettors. Tie bets are also known as push bets.