If you love the world of sports, you’ll love being able to bet on it.
The sports betting market has a $77 billion market today. Whether you’re an NBA junkie, a fight fan, or someone that doesn’t miss a Grand Slam tennis match, there are plenty of great bets to be made.
Even better, there are plenty of sportsbooks that you can try out that let you get a return on your bets.
Here are some of the different types of bets that you can explore.
1. Over/Under Bets
An over/under bet is one that indicates the final points, score, or numerical outcome of a competition. Betters must choose whether they think the outcome will be over or under the number set by the betting line.
For instance, when the Chicago Bulls play the Utah Jazz, if the betting line for their combined score total is 212.5, you’d win the bet if the Bulls won 110-108. These sporting bets odds can also pertain to individual stats, such as setting the over/under on Zach Lavine three-pointers at 4.5.
The over/under bet is one of the most common that people place in all sports, and they apply in several situations. You can click here to learn more about the different types of bets available from a real-life sportsbook.
2. Parlay Bets
A parlay is arguably the best type of sports bet to place today. This is a wager that involves multiple bets that must go right for you to win the payout. It involves two or more bets that can be spread out among different sporting events.
Because needing multiple bets to go your way lowers the odds, you can expect a higher payout if it goes correctly. Betters every day have been able to wager small sums of money that turn into thousands of dollars when prop bets pay out.
An example of a prop bet might include the combination of:
- The Minnesota Vikings defeating the New York Jets
- The Buffalo Bills beating the New England Patriots and covering the spread
- Adam Thielen scoring a receiving touchdown
- Giannis Antetokounmpo getting at least 15 rebounds
- Argentina beating Poland in World Cup Soccer by more than 2 goals
These bets are some of the most fun, interesting, and unique wagers that you can make each day, and offers plenty of intrigue and unlimited possibilities.
3. Moneyline Bets
The money line bet is one of the first that people make and the most straightforward. These are the bets that are placed on whether a team or athlete wins, loses, or ties.
It doesn’t require a win by any number of points or to cover a points spread or other details. If you’re just getting into sports betting for beginners, you will feel most comfortable placing a money line bet. It gives you more straightforward odds along with a cut-and-dry outcome prediction for any sporting event that you are looking into.
4. Point Spread Bets
Point spread wagers also rank highly among the most popular sports bets that you can make. With these bets, you are placing a wager on whether a team will not only win but also cover a points spread that is put in place to account for the odds.
For example, the Kansas City Chiefs are a better team than the Denver Broncos, so the odds of the Broncos beating the Chiefs aren’t great. To make the bet more interesting, oddsmakers include a spread that the Chiefs must cover in addition to the victory. Choosing the Chiefs will typically be easy money, but choosing them to beat the Broncos and also cover a 10.5-point spread is a bit trickier.
Make sure that you examine both the points spread and the odds for the team covering the spread.
5. Prop Bets
There are also several prop bets that you can make for matchups. For example, a prop might include something like Patrick Mahomes throwing for 3 touchdowns, Patrick Peterson snagging an interception, or Ayo Dosunmu getting at least 6 assists.
These are essentially any bet that doesn’t directly make, break, or involve the outcome of the game or match. It involves some sports betting strategy awareness since you need to know a little more about the player or teams that you are choosing to place a wager on.
Mix and Match Your Bets
The best part about these options is that you never have to choose just one. You can dip your toe into the water of betting when first starting out and figure out which types of bets you feel the most comfortable with.
Look into the sportsbook that gives you the chance to maximize your money through creative bets that pay well. You’ll also be better able to put together interesting parlays when you join a sportsbook that provides a little bit of everything. Open an account on a sportsbook so that you can test out these bets in a live simulation before putting down your hard-earned cash on bets.
Exploring the Different Types of Bets
These tips are excellent when you’re exploring the different types of bets available. This is a growing industry that plenty of people are choosing to take advantage of. All you need is an internet connection, a sportsbook account, and a willingness to take on the challenge.
From there, you will begin to develop a set of strategies that can help you win some money by betting on sports.
Start here when you’re interested in casino games and sports bets.
