Though this is fairly basic knowledge for a seasoned sports bettor, understanding the kinds of sports bets is resourceful for sports betting newbies. After enough betting, each player develops a hierarchy of which bets are best to make and when. Additionally, that hierarchy is prone to be fallacious.
For instance, if you get lucky with a certain kind of bet, that doesn’t mean you’ll continue to be fortunate. This article will prime you on the different kinds of bets, but figuring out when to make which bet comes with experience. With that said, here are some common sports bets.
Money-line Bets
money-line bets are the simplest kind of sports bets. It involves betting on who will win a particular sporting event. Your payout depends on the odds of a particular team or player winning the said event. The odds are determined by various things, such as past performance, expectations, etc.
The odds are typically presented as three-digit numbers with positive or negative signs next to them (American odds). Positive signs denote underdogs, and negative signs refer to favorites. So, suppose there’s +100. That means if you bet $100 and the team wins, you get $200 back. Alternatively, suppose the odds are -200. That means you need to bet $200 to win $100 (you get $300 back).
Spread Bets
Spread bets add an additional condition to money-line bets. Rather than simply winning, spread bets pay out if a team wins by a certain number of points.
For instance, a -3 bet means that once the match is over, if you subtract three from the team’s score, they should still win. As discussed above, negative and positive signs refer to favorites and underdogs, respectively.
Over/Under Bets
Over/under bets (also known as totals bets), and unlike the previous two bets, they’re not bets placed on the outcome of a game. Instead, over/under bets are placed on the total of the game’s final score. To win an over bet, the total score needs to be over the bookmaker’s prediction, and vice-versa for under bets.
If you’re just starting out, try fading the public. This is a technique wherein you bet against the public by betting over earlier in the weeks and under later. Most people bet over, so bookmakers will typically make under bets more attractive later in the week.
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