According to a study from the American Gaming Association more than 39% of all American adults are either current or potential future sports bettors.
What this means is that there will inevitably be beginners who don’t know a lot about sports betting, what to bet on, or the betting opportunities available to them.
The problem with not knowing is that it creates a situation where someone might continue to use the same betting strategies and bet the same way, even if they’re losing money.
I personally think if anyone is doing this then they’re already putting themselves at a disadvantage.
But after learning about the sports betting strategies you should be using as a beginner as well as understanding the different types of sports bets I’ll talk about below, you won’t look at sports betting the same again.
Well, at least my hope is that you don’t. I hope after reading this you’ll find ways to bet smarter and give yourself a chance to win, not just hoping to win.
With that said, here are some of the most popular types of sports bets that are the easiest for any beginner to understand:
1. Moneyline Bets
Moneyline bets are one of the simplest and most popular types of bets in sports betting. They involve betting on which team or player will win a particular game.
Moneyline bets are for those who prefer a straightforward betting option without the complexity of point spreads or other factors.
Who are moneyline bets for?
They are for everyone but are most suitable for beginners who are just starting to explore sports betting.
You can bet on the moneyline when you have a strong belief in the outcome of a game between the underdog and the favorite.
For example, if you believe that the underdog team has a strong chance of winning, you can place a moneyline bet on them to win the game.
On the other side, you can do the same for the team that is favored to win.
Example of a moneyline bet
Let’s take a hypothetical example of a basketball game between the Los Angeles Lakers and the Phoenix Suns.
The moneyline odds for the Lakers to win the game might be -150, while the odds for the Suns to win might be +200.
In this case, a bet of $150 on the Lakers would give you a profit of $100 if they win, while a bet of $100 on the Suns would give you a profit of $200 if they win.
The negative sign (-) indicates the favorite, while the positive sign (+) indicates the underdog.
The odds reflect the relative strength of the teams, which team is expected to win, and the potential payout for each bet.
The number after negative sign (-) is how much you have to bet to win $100, while the number after positive sign (+) is how much you would win if you bet $100.
2. Point Spread Bets
Point spread bets are also very popular types of bets in sports betting. In this type of bet, the oddsmakers set a margin of victory for a particular game.
The favorite team is given a negative point spread, while the underdog team is given a positive point spread.
The purpose of the point spread is to even out the betting action and make the game more competitive.
When you place a point spread bet, you are not simply betting on which team will win or lose, but rather on whether a team will cover the spread.
For example, if the point spread for a basketball game is -5.5 for the favorite team, they must win by at least 6 points for your bet to be successful.
On the other hand, if you bet on the underdog team with a point spread of +5.5, they can either win the game or lose by less than 6 points for your bet to win.
Who are point spread bets for?
Point spread bets are suitable for bettors who want to add more excitement and strategy to their sports betting experience and are often used when you want to bet on a game where one team is heavily favored over the other.
Instead of just predicting the outcome of a game, point spread bets require you to analyze the margin of victory.
This type of bet is more popular in sports like football and basketball, where the final scores can vary significantly.
Point spread bets also allow you to bet on the underdog team and still have a chance to win, even if they don’t win the game outright.
However, it’s important to note that point-spread bets can be more challenging to win compared to other types of bets, as you need to accurately predict the margin of victory.
Example of a point spread bet?
To illustrate the concept of point-spread bets, let’s consider a real game example.
In a football match between Team A and Team B, the oddsmakers set a point spread of -7.5 for Team A.
This means that Team A is the favorite and must win by at least 8 points for a point spread bet on them to be successful.
If you bet on Team A and they win the game by 10 points, your bet would win. However, if Team A wins by only 6 points, your bet would lose.
On the other hand, if you bet on Team B with a point spread of +7.5, they can either win the game or lose by less than 8 points for your bet to win.
If Team B loses by exactly 8 points, it would be a push, and your bet would be refunded.
This is just one example of how point spread bets work, and the specific point spread and outcomes can vary depending on the game and sport.
Point spreads can be higher than 25 points if two teams are playing in basketball for example and one team is much more skilled than the other.
3. Totals (Over/Under) Bets
Totals (Over/Under) bets are another popular type of sports bet where the bettor predicts whether the total combined score of both teams in a game will be over or under a specific number set by the sportsbook.
This specific number is known as the ‘total’ or ‘over/under’ line.
For example, in a basketball game, the total line might be set at 200 points. The bettor then decides whether they think the total score of both teams combined will be over or under 200 points.
Who are total bets for?
These types of bets are for sports betting enthusiasts who enjoy analyzing the potential scoring outcomes of a game.
They require a good understanding of the teams involved, their offensive and defensive capabilities, and other factors that may influence the final score.
Totals bets can be placed on a wide range of sports, including basketball, football, baseball, soccer, and hockey.
Totals bets are useful when the bettor believes that the final score of a game will be significantly higher or lower than what the sportsbook has predicted.
Examples of an over/under bet
Real game examples of total bets include betting on whether the total number of goals scored in a soccer match will be over or under a specific number, such as 2.5 goals.
Another example is betting on whether the total number of points scored in a football game will be over or under a certain number, such as 45 points.
Or whether the game between the Lakers and the Warriors will have more or less than 225 points scored.
These examples demonstrate how total bets can be applied to different sports and different scoring metrics.
4. Proposition (Prop) Bets
Proposition (Prop) bets are a specific type of sports bet that focuses on a particular event or outcome happening within a game.
Unlike traditional bets that involve predicting the overall winner or the final score, prop bets allow you to wager on specific occurrences that may or may not directly impact the final outcome of the game.
These bets can be based on various aspects of the game, such as individual player performances, specific plays, or even non-game-related events like the length of the national anthem at a sporting event.
Who are prop bets for?
Prop bets offer a wide range of options for bettors to choose from, making them popular among both casual and experienced sports bettors.
They are for anyone interested in sports betting, as they provide more fun opportunities for entertainment and strategy.
They are also very appealing to bettors who have a deep knowledge of specific players, teams, or sports, as it allows them to leverage their expertise in predicting specific outcomes.
Prop bets also appeal to casual bettors who may not be as interested in the overall result of a game but enjoy the thrill of predicting specific events within the game.
Prop bets can also be a good option for bettors who want to diversify their betting portfolio and explore different types of wagers beyond traditional bets.
Examples of prop bets
In a basketball game, a prop bet could be whether a specific player will score over or under a certain number of points.
Bettors can then place their bets on either side of the proposition, with the odds determining the potential payout.
If the selected outcome of the prop bet occurs, the bettor wins the wager.
Prop bets can add excitement and engagement to a game, as they allow bettors to focus on specific aspects of the game rather than just the final result.
Think of it as watching a basketball game just to see if a player you bet on will have more than 2 made threes in the game.
To provide some real game examples of prop bets, let’s consider a football game. Some prop bets for a football game could include:
- Which team will score first?
- Will the first score of the game be a touchdown or a field goal?
- How many passing yards will the quarterback throw for?
- Will a specific player score a touchdown?
- Will there be a safety in the game?
5. Futures Bets
Futures bets are a type of sports bet that involves predicting the outcome of a future event or season.
Unlike traditional bets that are settled within a short period of time. Futures bets are made well in advance and can take weeks or months to be resolved.
These bets are popular in sports such as football, basketball, baseball, and soccer, where there are clear seasons and championships.
Futures bets offer the opportunity to wager on long-term outcomes, such as which team will win the Super Bowl or which player will be the top scorer in a league.
Who are futures bet for?
Futures bets are suitable for sports bettors who enjoy long-term speculation and are willing to wait for the outcome.
These bets require patience and a great understanding of the sport and its teams or players.
They are very appealing to fans who have strong opinions about the future performance of a team or player and want to capitalize on their predictions.
Futures bets also offer the opportunity for potentially higher payouts compared to most traditional bets.
Futures bets are best used when there is a significant knowledge advantage or insight into a team or player’s performance.
For example, if a bettor closely follows a particular team and believes they have made significant improvements in the off-season, placing a futures bet on them to win the championship can be a smart move.
Similarly, if a bettor has a deep understanding of a player’s skills and believes they are poised for a breakout season, placing a futures bet on that player to win an individual award can be advantageous.
Examples of futures bets
Real-game examples of futures bets include betting on:
- Which team will win the Super Bowl in the NFL
- Which team will win the NBA Championship
- Which team will win the World Series in baseball
- Which player will be the top goal scorer in a soccer league
These bets are typically placed before the season begins and can provide excitement and anticipation throughout the entire season as the outcome unfolds.
6. Parlay Bets
Parlay bets, also known as accumulator bets or combo bets, are a type of sports bet where multiple individual bets are combined into one single bet.
In order to win a parlay bet, all of the individual bets included in the parlay must be successful.
This means that if any of the individual bets lose, the entire parlay bet is considered a loss.
Parlay bets offer the potential for higher payouts compared to individual bets, as the odds of each individual bet are multiplied together to determine the overall odds of the parlay bet.
However, the increased potential for higher payouts also comes with increased risk, as the failure of just one bet (also called legs) can result in the loss of the entire parlay bet.
Who are parlay bets for?
Parlay bets are popular among sports bettors who are looking for a higher potential return on the amount of money they bet.
They are for those who are willing to take on more risk in exchange for the chance to win a larger amount of money.
Parlay bets can be appealing to both casual bettors and more experienced bettors, as they offer the opportunity to turn a small stake into a significant payout. Think about turning a $10 bet into $3000.
However, it is important to note that parlay bets are generally considered to be more difficult to win compared to individual bets, due to the requirement of all the individual bets in the parlay being successful.
Parlay bets can also be used when a bettor wants to take advantage of a series of favorable odds, as the combined odds of the individual bets in the parlay can result in even higher odds.
Additionally, parlay bets can be used when a bettor wants to add excitement to their sports betting experience, as the potential for a larger payout can make watching the games even more thrilling.
Example of a parlay bet
To provide some real game examples, let’s consider a parlay bet on a football game. Suppose a bettor wants to place a parlay bet on three different outcomes:
- Team A to win
- The total score to be over 50 points
- Player B to score a touchdown
If all three of these individual bets are successful, the bettor will win the parlay bet. However, if any of these individual bets lose, the entire parlay bet is considered a loss.
Another example could be a parlay bet on a basketball game, where a bettor combines bets on the point spread, the total points scored, and the first team to score.
Again, all of the individual bets must be successful for the parlay bet to win.
7. Teaser Bets
Teaser bets are a type of sports bet that allows bettors to adjust the point spread or total of a game in their favor.
This means that bettors can move the line in their favor by a certain number of points, increasing their chances of winning the bet.
Teaser bets are popular among sports bettors who want to increase their chances of winning by manipulating the odds in their favor.
Who are teaser bets for?
Teaser bets are for sports bettors who want to increase their chances of winning by adjusting the point spread or total.
They are also attractive to beginners who may not have a deep understanding of the game or the teams involved and want to move point spreads higher or lower to a number they are comfortable betting.
Teaser bets provide a cushion for bettors, making it easier to win the bet.
However, it is important to note that teaser bets come with lower potential payouts compared to traditional bets.
This is because the odds are adjusted in the bettor’s favor, and not the sportsbook.
Example of a teaser bet
Here are some real game examples of teaser bets:
In a football game between Team A and Team B, the original point spread is Team A -7.5.
A bettor believes that Team A will win, but wants to increase their chances of winning. They decide to place a teaser bet and adjust the point spread by 6 points. The new point spread becomes Team A -1.5.
If Team A wins the game by 2 or more points, the bettor wins the teaser bet.
Another example is in a basketball game between Team X and Team Y, the original total for the entire game is set at 200 points.
A bettor believes that the game will be high-scoring and wants to increase their chances of winning. They place a teaser bet and adjust the total by 8 points.
The new total becomes 208 points. If the final score of the game is 209 points or more, the bettor wins the teaser bet.
8. Round Robin Bets
Round Robin Bets are a type of sports bet that involves placing multiple parlay bets at once.
In a Round Robin bet, you select a group of teams or players and create all possible combinations of parlays using those selections.
For example, if you choose three teams A, B, and C, a Round Robin bet would create three separate two-team parlays: AB, AC, and BC. And one three-team parlay: ABC
With a Round Robin bet you have to bet on each of the combinations separately.
Round Robin bets work by allowing you to cover multiple outcomes in a given set of bets and increase your chances of winning.
Even if one or two of your selections lose, you can still win some of the parlays if the other selections are correct.
However, it’s important to note that Round Robin bets require a higher stake since you are placing multiple parlays.
Who are round-robin bets for?
Round-robin bets are suitable for bettors who want to diversify their bets and spread their risk across multiple outcomes.
They are useful when you have a strong feeling about multiple bet selections but are not confident enough to place a single parlay bet on all of them.
Round Robin bets allow you to hedge your bets and potentially win even if some of your selections do not come through.
You can use Round Robin bets when there are multiple games or events happening simultaneously, and you want to bet on multiple outcomes.
For example, in a weekend of football games, you may have a strong feeling about the outcome of three different matches.
Instead of placing individual bets on each match, you can create a Round Robin bet to cover all possible combinations of parlays involving those matches.
Examples of Round Robin bets
Here are a few real game examples of Round Robin bets:
1. In a basketball game, you may select three teams: Team A, Team B, and Team C.
A Round Robin bet would create three two-team parlays: AB, AC, and BC. If Team A and Team B win, but Team C loses, you would still win the AB parlay.
2. In a tennis tournament, you may choose four players: Player A, Player B, Player C, and Player D.
A round-robin bet would create 11 parlays. Here are all the possible parlay combinations for your scenario:
- Parlay 1: Player A + Player B
- Parlay 2: Player A + Player C
- Parlay 3: Player A + Player D
- Parlay 4: Player B + Player C
- Parlay 5: Player B + Player D
- Parlay 6: Player C + Player D
- Parlay 7: Player A + Player B + Player C
- Parlay 8: Player A + Player B + Player D
- Parlay 9: Player A + Player C + Player D
- Parlay 10: Player B + Player C + Player D
- Parlay 11: Player A + Player B + Player C + Player D (This is a 4-team parlay involving all four players.)
These are the 11 possible parlay combinations you can create in a round-robin bet with Player A, Player B, Player C, and Player D.
3. In a soccer match, you may select two teams: Team A and Team B.
A Round Robin bet would create one two-team parlay: AB. If both Team A and Team B win, you would win the Round Robin bet.
Keep in mind that each parlay combination in a round-robin represents a separate bet, and the outcome of each parlay depends on the selected players’ performance in their respective matches.
9. Asian Handicap Bets
Asian Handicap Bets are a type of sports bet that originated in Asia and are now popular worldwide.
They are designed to eliminate the possibility of a draw, giving bettors a better chance of winning.
In Asian Handicap Bets, one team is given a head start or a deficit, depending on their perceived strength compared to their opponent.
This is represented by a positive or negative handicap value, such as +0.5 or -1.5. The handicap is added or subtracted from the team’s final score to determine the outcome of the bet.
If the team with a positive handicap wins, draws or loses by a smaller margin than the handicap, the bet is considered a win.
If the team with a negative handicap wins by a margin greater than the handicap, the bet is considered a win.
Who are Asian handicap bets for?
Asian handicap bets are a popular type of betting in soccer that is for individuals who want to handicap a team they expect to win but eliminate the chance of a draw in a match.
They are also for bettors who want to bet on an underdog team but want to minimize their risk.
In this case, the underdog team is given a head start in terms of goals or points, making it easier for them to possibly cover the handicap and win the bet.
This type of bet allows bettors to take advantage of the underdog’s potential and potentially earn higher returns if the underdog performs well or even wins the match.
Example of an Asian handicap bet
To illustrate with a real game example, let’s consider a soccer match between Team A and Team B.
Team A is the favorite, and Team B is the underdog. The Asian Handicap for this match is set at -1.5 for Team A.
- If you place a bet on Team A with a -1.5 handicap, they need to win by a margin of two goals or more for your bet to be successful.
- If Team A wins by exactly one goal, the bet is considered a draw or push, and your stake is returned.
- If the match ends in a draw or a win for Team B, the bet is considered a loss.
Similarly, if you place a bet on Team B with a +1.5 handicap, they can win, draw, or lose by a margin of one goal for your bet to be successful.
If Team B loses by exactly one goal, the bet is considered a draw or push, and your stake is returned.
10. Live or in-play Bets
Live or in-play Bets are a type of sports bet that allows bettors to place wagers on a sporting event while it is in progress.
Unlike traditional pre-match bets, which are placed before the game starts, live bets can be made during the game.
This type of betting offers a dynamic and interactive experience for sports enthusiasts. Live bets are typically available for different types of sports, including football, basketball, tennis, and more.
They provide an opportunity for bettors to react to the unfolding action and make predictions based on real-time developments in the game.
Who are live bets for?
Live bets are for sports fans who enjoy watching games and want to add an extra level of excitement to their viewing experience.
These bets require a good understanding of the sport and the ability to analyze the game as it unfolds.
Live betting can be more challenging than pre-match betting, as the odds are constantly changing, and quick decision-making is often required.
It is important to note that live bets may have stricter time limits for placing wagers compared to pre-match bets.
But for anyone who can keep up with the fast pace of the game and changing odds, it may provide value.
Examples of live bets
Real-game examples of live bets include:
- Wagering on the next team to score in a football match
- Predicting the total number of points scored in a basketball game
- Betting on the outcome of a specific set in a tennis match
These examples illustrate some of the wide range of betting options available during live betting.
The possibilities are extensive and can vary depending on the sport and the sportsbook.
Live bets provide an exciting and engaging way for bettors to stay involved in the game and potentially profit from their knowledge and intuition.
How to Choose the Right Sports Bets?
When it comes to choosing the right sports bets, all of these will affect what type of bet you might decide to make:
- The sport you are betting on
- The odds offered by the sportsbook
- Your own betting strategy and goals
- Expert advice and recommendations from betting tools
You might have to try a few bet types and see how well they work for you.
Personally, I find that I do well betting on moneyline and prop bets, but every now and then I’ll make other bets that are different than those.
It really just depends on the day or sport I’m betting on.
How many types of sports bets are there?
You have more than 15 types of sports bets. I chose to talk about 10 because they are the ones that are most used and easiest to understand.
What is the most common and popular type of sports bet?
The most common and popular type of sports bet is the straight bet, also known as a moneyline bet.
In this type of bet, the bettor simply picks the winner of a particular game. This type of bet is popular because it is straightforward and easy to understand.
What is the safest type of bet?
There is no such thing as a completely safe bet in sports betting, as there is always some degree of risk involved.
However, some types of bets are generally considered to be less risky than others.
For example, betting on the moneyline or point spread of a heavily favored team is generally considered to be a safer bet than betting on an underdog or a more uncertain outcome.
Similarly, betting on the over/under total score of a game can also be considered relatively safe as it does not require picking a winner or loser.
There are betting strategies that have almost no risk at all so maybe it might be worth checking some of those out.
This was a long list and there is so much that I had to share here.
I hope you found something helpful and you’re walking away knowing so much more than you did before you started reading.
Get out there and go win some money but never forget to bet responsibly!