Sports Betting 101
Powered by Winners and Bobby V’s Restaurant and Sports Bar
Moneyline Bets
The simplest sports bet type is a moneyline bet. When betting a team’s moneyline, you are simply betting on that team to win the game.
Point Spread
When betting on a point spread, you’re betting on a team’s margin of victory rather than who wins the game outright. The team that is favored will be indicated by a minus (-) sign and the underdog gets a plus (+) sign.
For example, if you bet on a team that is favored by -3.5 they must win by 4 or more points. Whereas, if you bet on an underdog team that is ‘getting’ +3.5 points they can still lose the game but must do so by fewer than 3 points (or win the game outright) for you to win your bet.
Over/Under (Totals) Another popular sports bet considers total points scored in a game. These bets are frequently referred to as totals or “over/under” bets because you are betting on a total score to go over or under a projected amount.
For a total bet, you are betting on the combined number of points scored between both teams. For example, in a football game between the Patriots and Giants, the point total is set at 45.5 points.
If the final score is Patriots 30, Giants 17, a total of 47 points were scored. Therefore, the over is the winning bet.
Parlay Bets
A parlay bet is when a bettor makes multiple wagers (at least two) and ties them together into the same bet. If all selected outcomes win, then the parlay bet is a winner. If any of the bets in the parlay loses, then the entire parlay loses.
If you have a three-leg parlay and only two of those bets win, then you have a losing parlay ticket.
What makes a parlay an attractive option for many bettors is that it is a way to bet a low dollar amount and win a large dollar amount, as your profits get multiplied after each win.
Teasers
A teaser bet is similar to a parlay in the sense that it is tied to multiple bets. The main difference is that it is only for point spreads or totals and is designed to ‘tease’ the point spread or total a predetermined amount (most often sixpoints). For example:
Original Line:
Notre Dame at Ohio St. (-7.5) Auburn (+6.5) at Alabama
Six-Point Teaser Notre Dame at Ohio St. (-1.5) Auburn (+12.5) at Alabama
If you’re backing Ohio State and Auburn in a parlay bet, you would need Ohio State to win by 8 or more and Auburn to win outright or lose by 6 points or less.
For a six-point teaser, Ohio State now only needs to win by two or more and Auburn can win outright or lose by 12 or fewer points for the teaser to be a winning bet.
Because the odds shift in the bettors’ favor significantly, the payouts of winning teaser bets are much lower than winning parlay bets.
Prop Bets
A proposition or a prop bet is a bet that is not directly tied to the final score or result of the game. The most common type of prop bets are player props and game props.
A player prop is a bet on a player’s performance, such as how many passing yards a quarterback has in football or if a basketball player has a double-double.
A game prop is a bet on something to happen in a game, such as the first team to score 20 points or which team will score first.
Futures Bets
A futures bet is a wager on the future outcome of a sporting event. This can include winning an MVP award, winning a league championship, or the total number of wins a team has.
Futures can also be player props, such as how many points a player averages per game or how many yards a quarterback will throw for in a season.
Live Betting
A live bet, or in-game bet, is a bet that is placed after a game has started. What makes live betting fun is that the odds are changing based on what is happening in the game. In addition to being able to live bet traditional moneyline, spread and total bets (odds are ever changing once the game has begun) you can also live bet on what might happen on the next at-bat in a baseball game or what will happen on the next possession for a football team: score via touchdown, field goal, punt or turnover.