Sports Bet Types: A Comprehensive Guide

Most losing players lack knowledge of wager types. According to The Action Network, misunderstanding options like spread, moneyline and parlay betting causes 90% of beginner losses. That changes today.

As a Sport Betting Analyst with over 5 years of experience analyzing lines, odds, and analytics to crush sportsbooks, I’ve built an elite reputation helping novice bettors boost profits.

This definitive guide breaks down every bet variant in simple terms even your grandma would understand. I’ll clarify all lingo so you can wager more intelligently. Let’s level the playing field together, my friend.

Intro to Common Sports Bet Types

Before stepping foot on the wagering battlefield, you must understand the weapons at your disposal. Here is a quick overview of popular sports bet types available:

Moneyline – Betting on match winners Point Spreads – Betting on margin of victory
Totals – Betting on combined points scored Parlays – Combining multiple bets
Futures – Betting on long-term outcomes Props – Betting on player/game milestones

Now let’s break down how each sports bet works, risks and rewards, examples, strategies and more.

Moneyline Betting Basics

Bookmakers set odds for each team’s chances to win based on implied probability. Bettors back who they expect to win straight up, no point spreads.

NFL Moneyline Example

Chiefs -200 vs. Eagles +180

Kansas City is a moderate favorite. A $100 bet profits $50 if the Chiefs win. But Philly offers a higher payout — a $100 wager returns $280 if the underdog Eagles pull off an upset victory.

Tennis Moneyline

Nadal -400 vs. Medvedev +250

As huge French Open favorites, Nadal backers must risk $400 to win $100. However, bold bettors backing underdog Medvedev stand to win $250 on a successful $100 wager if he shocks Rafa.

Moneyline Strategy Tips

• Search for betting value on underdogs when oddsmakers misprice teams
• Avoid betting heavy favorites offering little payout incentive

Understanding Point Spreads

Known as handicap betting, bookies assign a margin of victory one team must exceed to “cover the spread” and win bets. Better teams give points, underdogs get bonus points.

NBA Spread Example

Lakers -3 (-110) vs Nuggets +3 (-110)

The Lakers must win by > 3 points to cover as 3-point favorites. Denver covers by losing within 3 or winning outright. Both bets have -110 odds, meaning $110 wagered profits $100.

College Football Spread

Alabama -7 (-120) vs Auburn +7 (+100)

Favored Bama must prevail by over a touchdown to cash spread bets. Auburn backers win if the underdog Tigers lose within 7 or pull an upset.

Point Spread Strategy

• Key numbers like 3, 6, 7, 10 often determine covers/unders
• Buy extra points from key numbers at reduced odds

Totals Betting Explained

Also called over/unders, sportsbooks set a projected point total for games. Bettors wager whether they expect final scores by both teams to eclipse or fall short of the posted figure.

NBA Totals Example

Lakers vs Nuggets Over/Under 211 points

You’d bet whether you expect the combined Lakers + Nuggets score exceeds or misses the 211-point total set by oddsmakers.

NHL Over/Under

Avalanche vs Lightning Over/Under 6 goals

Is the cumulative score by both teams higher or lower than 6 goals? Bet accordingly!

Totals Strategy

• Review last 5 matchups to gauge scoring trends
• Account for star player injuries that shift totals

All About Parlays

Parlays involve bundling 2+ bets on one wager for boosted payouts. But all legs must hit for the parlay ticket to cash. One loser = entire parlay loss.

Standard Parlay

Lakers (-200) ML Heat (+150) ML
$50 parlay pays $450 if both teams win

Same-Game Parlay

Ja Morant 30+ points (+200)
Grizzlies Win (+150) Jaren Jackson Jr. 2+ Blocks (+250)

$100 bet pays $2,250 if all hit

Parlays Pros and Cons

• Big payouts on small wagers

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• High risk of missed parlays

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• Unique bets like same-game parlays

Understanding Teasers

Teasers shift point spreads in your favor at lower +EV to facilitate covering margins. Both legs must hit for teaser bets to cash.

NBA Teaser Example

Lakers -1 (teased from -6)✅

Heat +12 (teased from +7) ✅

$100 bet profits $90

Teaser Tips

• Tease point spreads past key numbers
• Accept reduced payouts for higher win rates

Long-Term Futures Betting

Futures focus on championship outcomes, season win totals or player props only decided months later, offering immense payout potential.

2024 Super Bowl Futures

Chiefs +500

Eagles +800

Bet $100 on KC now to profit $600 if they win the 2024 NFL crown

AL MVP Odds

Mike Trout +350

Aaron Judge +500

$100 on Judge profits $600 if he repeats

Futures Pros and Cons

• Place bets way in advance
• Massive payout upside

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• Won’t cash for months/years

Evaluating Prop Bet Options

Prop bets focus on player or game milestones aside from final results. Examples include a QB passing yards or a basketball player’s point total.

Monday Night Player Props

Patrick Mahomes O/U 295.5 passing yards

Travis Kelce anytime TD scorer +105

Oscars Prop Bets

Steven Spielberg Best Director -300

Everything Everywhere All at Once Sweep +2000

Prop Bet Tips

• Compare prop odds across legal sportsbooks
• Follow player/team news cycles closely

Bet Types for Popular Sports

While we’ve covered bet types universally, exploring specialized bets for your favorite sports unlocks immense potential. Let’s overview unique wagers for each.

Football Bet Types

Most popular bets: spreads, totals, props, futures

Specialized Bets

• Live betting on drive outcomes
• Team and player futures
• Prop bets like QB passing yards

Basketball Bets

Most popular: spreads, totals, moneylines

Specialized Bets

• Player prop bets (points, rebounds etc.)
• Game props (margins, overtimes)
• Same-game parlays (SGPs)

Baseball Bet Types

Most popular: moneylines, totals

Specialized Bets

• Inning outcomes (1st inning results)
• Player prop bets (strikeouts, HRs)
• Series futures (World Series champ)

Hockey Betting

Most popular: puck lines, totals, moneylines

Specialized Bets

• Player points prop bets
• Period betting (1st/2nd/3rd period lines)
• Stanley Cup futures

Soccer Bets

Most popular: 3-way moneylines, Asian handicaps

Specialized Bets

• Draw no bet (DNB)
• Correct score betting
• Player props (goals, cards)

Golf Bet Types

Most popular: tournament matchups, prop bets

Specialized Bets

• Round leader betting
• Hole-in-one props
• Tour Championship futures

Tennis Bet Types

Most popular: moneylines, set betting, totals

Specialized Bets

• Game props (aces, double faults etc.)
• Tournament futures
• Winning margins props

MMA and Boxing Bets

Most popular: moneylines, round betting, props

Specialized Bets

• Round group betting
• Winning method props
• Title bout futures

Horse Racing Bets

Most popular: race winner, exotic bets

Specialized Bets

• Quinella/exacta betting
• Prop bets like jockey outcomes
• Futures like Triple Crown winners

Political Betting

Most popular: election winner, party props

Specialized Bets

• Debate prop bets
• State electoral college count
• Presidential election futures

Handball Bet Types

Most popular: match winner, handicaps

Specialized Bets

• Team to score X goals first
• Half-time results
• Championship futures

Alpine Skiing Bets

Most popular: race winner, podium finish

Specialized Bets

• Head-to-head matchups
• Winning margin props
• World Cup standings futures

Biathlon Betting

Most popular: overall winner, head-to-head

Specialized Bets

• Top 3 finish betting
• Shooting accuracy props
• World Cup futures

Cross Country Skiing

Most popular: race winner, finishing position

Specialized Bets

• Group round leader betting
• Type of medal won
• World Championship futures

Floorball Bets

Most popular: match winner, totals

 Specialized Bets

• Period betting
• Player props (goals, assists)
• Champions Cup futures

Aussie Rules Betting

Most popular: head-to-head, margins

 Specialized Bets

• Quarter betting
• Player performance props
• Finals Series futures

Pedal Tennis Bet Types

Most popular: match winner, set betting

Specialized Bets

• Game handicaps
• Total games over/under
• French Open futures

Greyhound Betting

Most popular: race winner, exacta

 Specialized Bets

• Double betting
• Winning margin props
• Derby futures

Gaelic Sport Bets

Most popular: match winner, handicaps

 Specialized Bets

• Half-time score betting
• Player props (scoring)
• Championship futures

eSports Bet Types

Most popular: match winner, map totals

 Specialized Bets

• Player kill props
• Correct tournament scorelines
• Future tournament betting

Virtual Sports Bets

Most popular: race winner, event props

 Specialized Bets

• Time of first goal props
• Event specials odds
• League specials futures

Bandy Betting

Most popular: match winner, totals

 Specialized Bets

• Period betting
• Goal and assist props
• World Championship futures

Key Takeaways

We’ve only scratched the surface overviewing the countless bet types covering every sport imaginable. This guide focused on the most popular options, but props, futures and specialized bets also offer immense potential.

Be sure to tailor your betting activity towards your passions. Football fans may start with point spread and prop betting. Golf aficionados can focus on prop betting, while NBA devotees have player points and same-game parlays.

Matching your knowledge with the right bet types amplifies both the excitement and potential profits. Hopefully this guide brought you one step closing to becoming a fully versatile bettor equipped to attack sportsbooks year-round.

FAQs

What’s the most popular type of sports bet?

Moneyline betting takes the crown in terms of betting volume and popularity. Its simplicity making straight picks on match winners resonates with beginners and veterans alike.

What are the best types of bets for high payouts?

Futures and parlays offer the highest upside potential. Locking in championship and awards betting futures way in advance can lead to massive windfalls over the long run.

Which sports bet type has the most value?

It depends on your edge! Shrewd bettors find outliers between a team’s chances to win compared to sportsbooks’ odds in any market. Identifying and pouncing on mispriced moneylines, point spreads, totals or props is key.

What’s the safest sports bet type?

Moneyline betting on heavy favorites you expect to definitely win offers the closest to guaranteed returns. Just beware the huge risk required to profit a little on juggernauts like -2000 favorites in futures markets and otherwise.

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