When you are new to sports betting, you will notice that there is an abundance of options to choose from. To know where to start and which things to keep in mind when placing a bet we have compiled this guide. With this you will understand all types of bets, from popular bets to the rarest forms. All of them are fun, entertaining, and can help you make money.
What Are Single and Multiple Bet Methods
There are many different types of forms of sports betting bets, including future bets, parlays, straight, teasers, total bets, prop bets, live betting, and much more. Below, we will take a look at some of the best bets that you can have in teasers, reverse teasers, outright bets, middling, hedging, and much more.
While all these different types of sports bets are different in the sense that you will be betting on different things, there is a way to make money in every type of best bet and that is exactly what we are here to discuss, as well as how do bets work.
Single bets are the most popular bet around as it means that you are just betting on one outcome rather than multiple as you would in a parlay.
For example, if you are taking the Milwaukee Bucks to cover a 2.5-point spread against the Boston Celtics at -110 odds, that would be the only thing that you need to win your bet. You could put $110 on that to win $100.
When you start adding things into multiple bets, that is when we get parlays. Multiple bets are riskier because you need more than one thing to happen, but they can also be profitable if you find the correct strategy. There are times when betting on moneyline favorites of -200 or higher and forming them into a combined bet for a plus money parlay can become profitable in the long run.
This is one of those situations where it is better to understand what you are trying to find in a bet instead of going with what other people do. If you believe that something is going to be profitable for you, that is when it’s a good time to do it. If you feel safe doing just single bets, then stick to that. However, if you believe that you can hit multiple bets at the same time, try the multiple bets which we call parlays.
Let’s Start With Moneylines
Moneyline bets mean that you just need the team that you bet on to win the game. This could be in any sport, but for example, if you are betting on Arsenal to win a soccer match at -210 odds, that means that you would have to bet $210 to win $100.
Moneyline bets are determined by the outcome of the game. The term moneyline represents the payout for the bet that you could win.
A moneyline bet is as simple as it gets. It’s essentially telling you that you need to bet on one side of what team or player you believe is going to win the event. This could be in boxing when you are betting against certain boxers but the same goes for basketball betting, and hockey betting.
Moneylines are one of many types of sport bets that could improve your strategy and success rate.
About Point Spreads
Point spread betting is one of the more common betting habits in the space. You will see multiple spreads in every game that you can find and you can also alternates if you believe that the sportsbooks are putting out a bad line.
A point spread is pretty simple. If you see a point spread of -7.5 on an NBA team, that means that the winning team would have to win by eight points if they were to win your bet. If they did not win by eight points or more, you would lose your bet. For example, if you took the Bucks to cover that -7.5-point spread and they lost by eight points, you would lose.
However, if Milwaukee lost that game by seven points or less or won the game outright, you would win your bet.
If you like betting on the underdog and don’t want to take the moneyline as that can be risky at times with teams not winning games outright, it’s a good idea to back the point spread. You can get as many points as you want on most sportsbooks up to a certain amount and that could be profitable in the long run for you. Point spreads are a bet to risk strategy but can be profitable depending on the oddsmaking.
Against the spread
Against the spread betting is when you place a bet on a team that you think will perform better than the points spread expected by the sportsbooks. It is similar to what we were talking about above.
For example, if you took the Bucks to cover that 7.5-point spread as an underdog and they lost by nine points, you would lose. However, if Milwaukee lost that game by seven points or less or won the game outright, you would win your bet.
You can bet against the spread football betting, baseball betting, and other sports.
Over/Unders
An over/under in sports betting is a bet of the total number of points runs, and any other form of variation of the run in a game. It’s often called the total and you’re wagering on whether or not you believe that the game is going to go over or under.
Over/under bets are difficult at times because sportsbooks typically get them within a few points, goals, runs, or any other metric of scoring in a sport.
For example, if you are betting on the Kansas City Chiefs against the Miami Dolphins and the point total is over 54.5, you would need there to be 55 points or more to win your bet. If you are betting for the game to go under, you would be betting on anything below 54 points.
Sportsbooks make over/unders based on:
- Historical data
- Team performance
- Injuries
- Weather conditions
When to Choose Prop Bets
A prop bet is a bet on a part of the game, often unrelated to the outcome. Examples are how many goals a player will score or how many yellow cards a team will receive.
Prop bets are notable in every sport and they are often profitable as well. Many people like to stay away from point spreads and moneylines because of the fact that there is so much that can happen that can affect the outcome. Instead of worrying about an entire team, you can bet a prop and just hope that the one player that you are betting on does well.
For example, if you are betting on LeBron James to score more than 30.5 points, you would need LeBron to at least score 31 points in that game. If you took his over 30.5 and he scored anything under 30 or fewer points, you would lose your bet.
It’s up to you to decide when you want to choose that, but prop bets have become increasingly common in recent years.
Remember that if you want to become an expert prop bettor, you need to posses in-depth knowledge of the players you’re betting on.
Why Parlays Are So Popular
When you combine two or more bets into one wager, it is called a parlay. Parlays are so popular now because people see other bettors win on social media.
Although parlays can be profitable for people who do hit a crazy one, which is seen on social media quite a bit, it is very difficult for people to constantly hit parlays.
Betting on parlays, unless you also have straight bets that are paying for your parlays and you’re winning at a good enough clip to try these parlays, doesn’t really make sense for the average bettor. Remember that parlays require careful risk management.
If you enjoy gambling and don’t have any worries about the risk of losing money, then parlays can be a strategy for you. If you want to put a few dollars on a parlay with the goal of your bet to win a million dollars, that’s all up to you.
No matter what, parlays and straight bets give the same amount of risk to a sports better as they’re still risking money and risking the bad habits that can come with it. As long as you’re being safe when betting on these parlays, then go ahead and have fun and try to win the million dollars.
If you’re looking for the easiest sports bets to win, you better give up because there aren’t any. All bets require knowledge and being up to date with the latest stats and trends. Although the probability of hitting the bets is unlikely, it’s fun to try.
Same Game Parlay
Same Game parlays are used in the NBA and can often be a good option for achieving success in betting. For example, you can combine Damian Lillard to score over 27.5 points, him to hit at least two 3-pointers, and Brook Lopez to have 11-plus points. That parlay would payout at +200, and if all three things came true, you would win $200 if you bet $100.
Round Robin
Round Robin bets are a bit more confusing for people new to betting, as this bet allows you to create multiple parlays from a set of selections.
This method diversifies risk across various combinations, offering you a chance to still secure a profit even if some bets within the Round Robin lose. Although this strategy is more complicated than hitting on a single large parlay, round robins can be much more profitable than other ways of betting on parlays.
Teasers
A teaser or two-team teaser is a type of bet that allows you to combine bets on two different games. This means that you can adjust the point spread for two games, but the odds for the games would be much worse than they would be if you were to take the normal point spread.
This could mean that if you were to take the Bucks as -6.5-point favourites as 6.5-point underdogs and you also took the Los Angeles Lakers in the same way, you might get – 175 odds. If you were to take them as the favourites, you would find them at +200 if you combine them.
You’re essentially exchanging points for value, which can become profitable if you’re comfortable with it, but it does get difficult at times.
Reverse Teasers
Reverse teasers are a bit more difficult. It’s when you adjust the spreads or totals in a bad way. For example, if you adjust the Bucks from -3.5 to -7.5 and apply a similar adjustment to the Lakers, you’re betting that both teams will cover a much larger spread. While challenging, successful bets at these adjusted lines offer significantly higher payouts due to the increased risk.
A Little About Future Bets
Essentially, a future bet is a bet that you place prior to the season or prior to the event happening. Future bets are some of the best ways to be successful in betting.
For example, if you try to win money in the NBA season, but the NBA season doesn’t start for another two months. If you want to get some bets in, you can go throw money on the Bucks to win the NBA Finals at +900 before the season starts. Once the season starts, those odds will fluctuate, and at times, the sportsbooks will even offer you a payout if they believe that it’s going to happen.
If you win, you would be paid out at the end of that event. If the Bucks won the NBA Finals, you would have hit a +900 bet.
And Outright Bets
Outright bets allow people to bet on a single league, competition, or tournament. Compared to moneyline bets, which allow you to bet on a single game, outright bets are wagers on the winner of the event. For example, you can pick the outright winner of the Super Bowl before the season starts.
You May Also Try These Options
You can also find some of these bets below.
If Bets
‘If bets allow you to connect two or more straight bets. If the first selection was to win then the second one becomes a live bet and has action. If bets give you an opportunity to connect two bets, similar to a parlay. However, ‘if bets’ are unique in that subsequent bets only proceed if preceding ones win, unlike parlays where all legs must win.
The best way to explain it is if you have two parlays and one game starts at 1:00 and the other game starts at 4:00 and the first one wins, then you would bet on the second wager. If you have a three-team parlay and the first two legs win, your third leg will be bet on. If they don’t, you would not bet on that. It allows you to minimize your losses if multiple bets do lose before the final event.
Reverse Bets
A reverse bet allows you to bet on two to eight games, which again is similar to a parlay. However, the wagers are placed on the one prior to it. That means that if your first bet was to lose, then you will not be able to place the second bet. If you win your first bet, you would have to place a second bet and then the third bet to be placed, and so on to continue winning.
Reverse bets typically involve two or more if bets in both orders of outcome.
Middling
Middling bets is difficult, but it is a strategy that you would use to try to gain profit by betting on both sides of the outcome. You would typically do this when there is a live line, or for example, if you see the line change. For example, if you see the Bucks at +6.5 and then you can also get them at -3.5, you would be able to middle that bet in some sort of way.
It is important to note that middling requires precise timing and a deep understanding of how lines move to be successful because this strategy involves capitalizing on line changes for profit.
Full cover bets
The strategy of full cover bets allows you to cover all possible combination bets from multiple selections in a single wager. In the betting world, this is often referred to as a full cover accumulator or full cover multiple.
For example, let’s take a situation where you’re betting on three distinct football matches: FC Barcelona to win against their opponent, Real Madrid to secure a victory in another game, and a third match to end in a draw.
When applying the full cover strategy, it means you’re not just focusing on a single outcome but creating doubles and a treble to encompass all potential combinations of these results. In our example, your bet would include:
- FC Barcelona and Real Madrid both to win (double)
- FC Barcelona to win and the third match to end in a draw (double)
- Real Madrid to win and the third match to end in a draw (double)
- FC Barcelona to win, Real Madrid to win, and a draw in the third match (treble)
You win your bet if the games’ outcomes match any of these combinations. The payout size depends on the individual odds of each bet.
Live Betting Details
Live betting means you can bet on something after the game starts.
For example, if the Boston Celtics are 11-point favourites against the Bucks, and the Bucks start to win the game and are up five, you might be able to get the Celtics now at a better line. Often, we can even get teams at plus money after they were heavy favourites prior to the game. There is certainly some risk that it gets involved in it, but Iive betting can actually become very profitable. You can often find better lines, and that’s exactly what all sports betters should look for.
However, live betting requires quick decision-making, and you should be able to understand how the game’s dynamics can influence the odds.
Micro Betting
Micro betting focuses on highly specific, short-term outcomes within a game, essentially blending elements of live and prop betting. Unlike traditional bets that settle at the game’s conclusion, micro bets offer immediate payouts once the specific condition is met, irrespective of the game’s final result.
For example, if you place a micro bet on Jayson Tatum to score over 20.5 points during a game, you’ll receive your payout as soon as he hits his 21st point, without needing to wait until the game ends.
This immediacy is what distinguishes micro betting, providing a dynamic and engaging way to engage with live sports events.
What About Forecasts
A forecast bet is used in different sports, but it’s often tried to bet on someone who will finish first and second in the right order.
For example, if you are watching the Kentucky Derby and believe that two horses will finish first and second, you could use these two to bet on a forecast bed.
Forecast bets are most popular in horse racing and although they do occur in other sports, they are less common.
How to Use Free Bets
Free bets are some of the easiest ways to make money. For example, if you are new to a sportsbook and they offer you a $20 free bet, you can bet on whatever game you think has potential. These free bets often don’t give you the initial stake back, so make sure to at least make it a +100 bet so that you can make some money. However, it is advisable to look for bets with better value.
Draw or Win?
A win or draw bet, typically found in soccer, allows you to bet on a team winning or the game to end in a draw. These type of bets have worse odds than if you just picked the winner, but they are safer and most of the time, easier to win.
When High-Risk Bets Are Reasonable
High-risk bets are only reasonable if you believe that they are. For example, if you are willing to lose money and understand that high-risk bets likely will not become profitable, it’s up to you to determine that and have fun when you want to. If not, make sure to remember to stay safe and always try to have fun while betting, as it should never be more than that. Your sports betting strategies are up to you.
