Sports betting has grown in popularity over the years, with more and more people trying to predict outcomes and win big. However, with so many different types of sports betting available, it can be overwhelming for beginners to navigate the world of sports betting. In this article, we’ll provide a comprehensive guide to the most popular types of sports betting, including spread betting, moneyline betting, over/under betting, prop betting, and futures betting. We’ll explain the basics of each type of bet, provide examples, and offer tips on maximizing your chances of winning.
Spread betting is one of the most prevalent types of sports betting, particularly for football and basketball. In spread betting, the sportsbook sets a point spread, a margin of victory the favored team is expected to win by. The bettor then chooses whether to bet on the favored team to win by more than the point spread (covering the spread) or on the underdog team to either win outright or lose by less than the point spread (beating the spread).
For example, if the football match point spread for a football match is -3, the favored team is expected to win by three points. If a gambler chooses to bet on the favored team, they must win by more than three points for the bet to win. If the favored team wins by exactly three points, the bet is a push, and the bettor gets their money back. Therefore, if the bettor chooses to bet on the underdog team, they must either win outright or lose by less than three points for the bet to win.
Spread betting is popular because it creates an even playing field between the favored and underdog teams, making the game more exciting. However, it’s important to note that the sportsbook determines the point spread and can change leading up to the game, so bettors should stay informed and adjust their bets accordingly.
Moneyline betting is a more straightforward form of sports betting commonly used for baseball, hockey, and soccer. In moneyline betting, the bettor chooses which team will win the game outright, with no point spread involved. The odds for moneyline betting are based on which team is favored to win and can range from -200 (where the bettor must wager $200 to win $100) to +200 (where the bettor wins $200 for every $100 wagered).
For example, if a baseball game features the New York Yankees (-150) playing the Boston Red Sox (+130), the Yankees are the favored team. A bettor who bets on the Yankees must wager $150 to win $100. If the Yankees win the game, the bettor wins $100. If the Red Sox wins, the bettor loses their wager.
Moneyline betting is straightforward, but it can be risky if the favored team loses. Bettors should consider the odds and research before placing any moneyline bets.
Over/under betting or total betting, is a form of sports betting that doesn’t involve picking a winner or loser. Instead, the sportsbook sets a total number of points or goals scored in the game, and the bettor chooses whether the actual number of points or goals scored will be over or under the total. The odds for over/under betting are typically -110.
For example, there’s a baseball game between the NY Yankees and the Boston Red Sox, and the sportsbook sets the over/under at 8.5 runs. If a bettor chooses to bet the over, they are betting that the total number of runs scored by both teams will be nine or more. If they bet the under, they are betting that the total number of runs scored will be eight or fewer.
Therefore, if the game’s final score is 6-3 in favor of the Yankees, the total number of runs scored is nine, which means that the overbet would win. However, if the final score is 5-3, the total number of runs scored is eight, and the underbet would win.
In conclusion, sports betting offers many opportunities for gamblers to wager on their favorite sports and win big. This comprehensive guide has explored popular sports betting types, including moneyline, spread, prop, futures, and over/under-betting. Each type of bet offers advantages and disadvantages, and it’s up to the bettor to choose the one that suits their preferences and betting strategy.
No matter which type of sports betting a bettor chooses, it’s essential to recognize that betting can be addictive and done responsibly. You must bet what you can afford and avoid chasing your losses by placing larger bets or betting on unfamiliar sports. It’s also important to do your research and stay informed about the teams, players, and any relevant statistics that may affect the outcome of your bets.