There is no doubt that sports betting can be highly confusing to individuals who might not be quite up to speed with all of the jargon and lingo that is used, however once it is learned, it can be one of the most enjoyable activities to participate in.
Indeed, the American market has only recently started to enjoy and embrace the enjoyment that legal online sports betting can provide as more and more states begin to pass legislation through law and allow punters to take full advantage of what is on offer. With more and more options cropping up such as the legal online sportsbook in VA that can be used, more and more individuals are going to want to know all about the most common bet types and what they actually mean.
Let’s outline a few of them below and describe each one so those who look to use them know exactly what they are getting into:
Win Bets or Moneyline
Although they might have a different name, win bets and moneyline bets are both the exact same thing: betting on the outcome of the event that takes place and predicting who will be the winner.
American punters will likely spot this market be described as a moneyline bet, and it is one of the most basic sports bet types available to enjoy. As mentioned, punters will simply have to place a wager on who they believe will win the contest and sit back and wait for the result to occur.
Totals and Over/Under Bets
Another of the most popular sports bet types available is the totals market, although this can also be described as over/under in some corners of the world. This is, though, another one of the easiest bets to enjoy without having to think too much about it.
Here, a bettor will be provided with a figure by the bookmaker (a total) where they will then be given the option to place a bet on the total being greater or lower than the number set. The total will typically be defined as a decimal of point five and then rounded up, as the totals are generally points scored in a game.
Point Spread and Handicap
Perhaps one of the more difficult bet types available to utilize, point spread betting is still a highly popular option for punters in the United States, whilst Europeans will know it as Handicap betting.
The premise is rather simple when it comes down to understanding this market, although it can be confusing to anyone who has only just discovered it or not used it before.
A sportsbook will decide which team is favored to win the contest first, before then assigning a number of points that they believe a team will win the game by. Once they do this, punters will need to then select whether the win will be greater than the total points defined or if the contest will be closer than expected.
For example, a sportsbook could provide a contest between two teams in the NFL with a points spread of seven points (a touchdown and conversion). The team that has a positive +7 will be favored to win, whereas the team with a negative -7 will be favored to lose. Punters will then be able to choose whether they believe the outcome is right. In simple terms, those who expect the team to win by +7 will pick that outcome, whilst those who believe the result will be closer than seven points or even in the opposite direction can pick the -7 points spread.
Futures
Arguably one of the easiest sports bet types to understand by simply looking at the name, future betting is where punters will look to place a bet on the overall winner of an event or season.
Most of these bets will be placed before the competition takes place, as odds will typically be at their best, although they can be a lot harder to pick as campaigns are yet to get underway and nobody knows what might happen. This means payouts can be rather attractive, but they can be riskier than other betting types, as well.
Proposition Bets (Props)
Prop betting is a little different to standard betting and something many sports bettors enjoy greatly. This is because these wagers can literally be placed on almost anything.
For example, bettors will be able to place a wager on the first touchdown or goal scored, place a bet on the first goalscorer, or even place a wager on the number of touchdowns, corners, pass attempts depending on the sport being played. As you can see, there are so many different options which is why prop betting appeals so much.
Parlays
One of the most common bet types many enjoy, but perhaps one of the hardest to ever achieve successfully, parleys are one of the all-time favorites for bettors all around the world (known as accumulators in Europe).
This is where punters will look to try and successfully predict the outcome of a number of different markets or events in one long bet. Those successful will be rewarded lucratively, but they are extremely hard to win as just one option that does not come in will simply kill the entire parlay.
