Lesson 5: Types of Sports Bets For Beginners

If you’re just starting out with sports betting, it’s recommended to start with the most common types of bets, which are point spreads, moneylines, and totals.

• Point spreads involve betting on the margin of victory in a game
• Moneylines focus on picking the winner of a game
• Totals involve betting on the combined score of both teams

Point Spreads

Point spreads are a popular type of bet where the sportsbook sets a margin of victory between two teams.

Bettors can choose to bet on either the favorite team to win by more than the set margin (covering the spread) or the underdog team to lose by less than the set margin (beating the spread). 

In point spread betting, each team or player is assigned odds with a (-) or (+) sign that reflects their chances of winning. 

• Plus sign (+): This is the team that is the underdog. Must lose by less than the points assigned or win the game
• Minus sign (-): This is the team that is the favorite: They must win by more than the amount of points assigned

For example, if the point spread for a basketball game between the Phoenix Suns and the Golden State Warriors is:

• Phoenix Suns: -1.5
• Golden State Warriors: +1.5

• If you bet on the Phoenix Suns at -1.5, they need to win against the Warriors by two or more points for your bet to win

• If you bet on the Golden State Warriors at +1.5, they need to lose by less than 2 points against the Suns or win the game completely for your bet to win

Moneyline Bet

Moneyline bets are straightforward and involve picking the team or player that will win the game outright, regardless of the margin of victory.

In moneyline bets, each team or player is assigned odds with a (-) or (+) sign that reflects their chances of winning. 

• Plus sign (+): This is the team that is the underdog. The lesser-skilled team
• Minus sign (-): This is the team that is the favorite: The more skilled team

For example, in a basketball game if the Phoenix Suns are playing against the Golden State Warriors and the Suns have odds of -150, while the Warriors have odds of +150.

What this means for the Suns -150

• If you bet $1 on the Suns to win against the Warriors and they won, you would win $1.67 (Your $1 bet plus $0.67 profit)
• If you bet $10 on the Suns to win against the Warriors and they won, you would win $16.67 (Your $10 bet plus $6.67 profit)
• If you bet $100 on the Suns to win against the Warriors and they won, you would win $166.67 (Your $100 bet plus $66.67 profit)

What this means for the Warriors +150

• If you bet $1 on the Warriors to win against the Suns and they won, you would win $2.50 (Your $1 bet plus $1.50 profit)
• If you bet $10 on the Warriors to win against the Suns and they won, you would win $25 (Your $10 bet plus $15 profit)
• If you bet $100 on the Warriors to win against the Suns and they won, you would win $250 (Your $100 bet plus $150 profit)

Moneyline bets can be a good starting point for beginners as they are easy to understand and offer a clear outcome based on the winner of the game.

Who Determines The Favorite and Underdog in Betting?

The determination of the favorite and underdog in sports betting is primarily based on the odds set by bookmakers or sportsbooks.

Bookmakers analyze various factors such as team performance, player statistics, injuries, and other relevant information to assess the likelihood of each team winning a particular game or event.

Based on this analysis, they assign a probability or chance of winning to each team.

For The Favorite

The favorite is the team or player that is expected to win the game or event. Bookmakers assign lower odds to the favorite, indicating a higher probability of winning.

For example, if a basketball team is considered the favorite with odds of -150, it means that you would need to bet $150 to win $100 if they win the game.

For The Underdog

On the other hand, the underdog is the team or player that is not expected to win. Sportsbooks assign higher odds to the underdog, indicating a lower probability of winning.

Using the same basketball example, if the underdog team has odds of +150, it means that a $100 bet on the underdog would result in a $150 profit if they win the game.

Total (over/under) Bets

Totals, also known as over/under bets, are another type of sports bet suitable for beginners.

In total bets, the sportsbook sets a predicted total number of points, goals, or runs that will be scored in a game by both teams combined.

Bettors can then choose to bet on whether the actual total will be over or under the predicted total.

For example, if the total for a basketball game is set at 232 points, you can bet on whether the final score will be over or under that number.

Here’s an example of a real game between the Suns and the Warriors.

The game is expected to have 232 points scored. You can bet the over if you expect more points to be scored or the under if you expect fewer points to be scored.

Point spreads, moneylines, and totals are generally considered the most beginner-friendly bets. These types of bets have straightforward concepts and clear outcomes, making them better for someone new to sports betting to start with.

With that said there are many other types of bets and if you think you find other bets that are easier for you to understand and execute there’s nothing wrong if you prefer to start with those.