Betting on sports might seem intimidating at first, but it’s far from impossible if you’re prepared. If you want to increase your chances of winning without going overboard, it’s important to understand different kinds of sports betting options and how odds work.
What Is Sports Betting?
Almost everyone enjoys sports, right? Sports betting is a favorite pastime for millions around the world! While sports betting is legal in many places, there are still a few countries where it’s banned. In several countries, sports betting is regulated, and there are laws in place that limit the amount you can bet. Sports betting has become a huge global industry, with billions of dollars being wagered on sports each year, and experts predict it will continue to grow in the coming years. However, the types of sports betting can vary widely. This article will discuss some of the most common types of sports betting.
Here Are the Types of Sport Betting
Sports betting can be a lot of fun, but there are a few types you should know before playing.
Straight Bets
This is the most basic bet: you bet on either a team or a player to win. A straight bet is usually the most popular type of bet.
Props
Prop bets are bets on any aspect of the game. Examples: who will score first, who will score next, which player will score the most points, or which player will win the MVP award.
Futures
These bets allow you to wager on the outcome of an entire season. For example: who will win the MLB World Series?
Parlays
A parlay bet is a bet where you combine two or more bets. For example, if you bet on the Patriots and the Vikings, you now win if both teams win.
Teasers
The teaser bet allows you to wager on one team and combine that team’s odds with the odds of any of the other teams in the point spread or total. The different types of teaser bets include “half-point,” “three-points,” and “four-points.”
Middle Bets
Middle bets are wagers that fall between favorites and underdogs, usually with small-market teams. They include money line bets, point spreads, totals, and teasers. Middle bets have less action than favorites or underdogs. Betting on middle games is a good way to play your game against the odds.
Point Spread
A point spread is a risk that another team or sportsbook takes on as a result of making a bet. For instance, a 5-point spread might offer the sportsbook a 50 percent chance of winning and a 50 percent chance of losing. The lesser team will cover the spread based on the bet. For example, if the team that is favored is winning by 4 points, but the casino has wagered the later team to lose by 5 points, then the casino would win.
Parlay Bets
Parlay bets are offered by online sportsbooks in leagues and tournaments, as well as through individual games. Parlay bets, which have their roots in horse racing, have become increasingly popular in recent years. Unlike straight bets, where you choose a single team to win or lose, pari-mutuel bets combine several games or events into a bet. The payout is based on the final score of the event.
Live Betting
Live betting is betting on upcoming sporting events while they are in progress and in real time. Players can place bets on sports such as soccer, hockey, basketball, boxing, volleyball, and much more. It allows players to make real-time bets on what outcomes are most likely based on game statistics. Live betting provides a unique experience and is a great way to expand the bankroll of many die-hard sports fans.
