Different Types of Sports Bets Explained
Sports betting comes with terminology all of its own. Those that have been staking in the markets for many years will be fully switched on to its lexicon but, for beginners, it can all be a little confusing.
So, if you don’t know your parlays from your moneyline bets, please read on.
Parlay betting is a good starting point as these are popular bets across North America. A parlay is simply a multiple bet where more than one selection is taken. It has the potential to increase the odds, but the important point to remember is that all of those picks have to win.
Parlays come in two different forms, the in-game parlay and the multi-leg parlay. As the name suggests, an in-game parlay takes two or more picks from one specific match. Let’s say that the New York Jets are taking on the New York Giants in the NFL and we want the following two selections:
- Jets to win;
- Over 43.5 points.
When betting online, the customer clicks on both of those options in turn, and they will be added to their virtual bet slip. The next task is to choose a staking amount before clicking to confirm.
A multi-leg parlay takes bets from two or more games. We’ll switch to the NBA for this one and take Golden State Warriors, Brooklyn Nets and Boston Celtics all to win on a specific game day.
A parlay will boost the odds, but it will also increase exposure. If one or more of those selections fail to win, there is no return to be claimed.
Keeping it Simple
The starting point for most new bettors is the Moneyline market. This is known as the match result in other parts of the world and it’s a straight pick on which side, or individual, will win.
This will be a simple either/or pick involving the two sets of opponents. In sports such as soccer where there is the potential for a draw, the Moneyline becomes a three-way market, The draw is now listed as an option, along with win odds for each of the two teams.
With research and an assessment of any head-to-head results between the two opponents, serious bettors will also focus on the Moneyline market. It’s the most simple to follow and it remains a popular option.
Take a Look at Totals
Totals betting is one of the more common side bets and it can also be applied to most team sports. In the NFL, we are talking about Total Points, while Major League Soccer and the NHL provide picks for Total Goals betting.
Totals usually combine both teams and ask bettors to stake on the overall number of points or goals in a game. We may be looking at an MLS match between Los Angeles FC and LA Galaxy and we’ll stake on Over 3.5 goals in the game.
In this example, four or more goals between the two teams will return a profit. This is just an illustration and the sportsbooks will list a number of goal lines for their customers to consider. Similar markets can be found for hockey, while NFL, NBA and others have a Total Points section.
Other Totals markets can focus on one team or one specified half or quarter of a match.
This is a winning margin bet by another name. In the Points Spread, bettors have to nominate a team to win by a certain number of points or goals. This market can appear in most sports and it’s a way of increasing odds in the Moneyline bet.
For example, we may want to stake on the New York Islanders to beat the Winnipeg Jets by two goals or more in this week’s NHL schedule. This margin can be decreased or increased to suit the customer’s preferences.
Points Spread betting is a good option to consider when a punter gains a little more experience.
Propping up the Markets
Prop bets complete the list of main bets for any sport. Prop is short for a proposition and it can be split into two categories – team and player.
Player props cover a diverse range of options. In soccer, they could involve a stake in the player who you think will score the first goal in a certain match. Similarly, there may be prop betting on the scorer of the first touchdown in the Super Bowl.
In the NBA, there could be markets for a player’s Total Points or Total Rebounds in a game.
Team props might include which side would score first in an NFL game.
There are so many sports betting options, but this is a comprehensive list of the main markets. By being better informed, it’s possible to approach bets on any sport with greater confidence.