The sports betting landscape is wide open with a ton of information for any sports fan and sports bettor to learn. With this ton of information on sports betting, it leaves the new sports bettor or even an experienced individual placing bets on a sports with many questions to find answers to. These questions could stem from what are the best’s sports to be on to win money or what happens when the final outcome of your bet is a wash? While these are some good questions, the one question that we get a lot here at CentSports is what are the Different Types of Sports Bets?
To answer that question, there are a wide range of different types of sports bets. Luckily for you, we are going to take a look at them below:
Different Types of Sports Bets
Money Line – Money line betting might be one of the best sports bets but one that sometimes can be confusing to new players. When you are placing a sports bet against the money line you are simply picking the team/individual to win the matchup.
While that sounds easy, the confusing part is the money aspect of the bet. When you place a bet against the money line the team/individual will have a + or – with a number next to their name such as (+130) or (-110). Now all this means is that if you take a team with a + number you will win more money than you bet while a – number means you have to place a higher wager to win less money.
Here is an example of a money line bet:
Los Angeles Lakers (-120)
Boston Celtics (+130)
In this example, if you bet the Los Angeles Lakers you would need to bet $120 to win $100. Meanwhile, a $100 bet on the Boston Celtics would result in you winning $130.
Point Spread – Point spread betting or Against the Spread (ATS) betting is one of the most if not most popular sports betting types around the world including in the United States. While you can find point spread betting within any major sporting event that features a final score, it is extremely popular in the United States with College Football and the NFL.
When you bet against the spread, you will not be betting on who wins or loses in the final score but with the adjusted point spread numbers. Those point spread numbers will take into effect a wide range of factors including home field advantage, key injuries and weather. Once determined the favorite in the matchup will be assigned a point spread figure. In order to win placing a wager on this team they must cover the spread.
Now here is an example of Point Spread betting:
Tampa Bya Buccaneers (-4)
Carolina Panthers (+4)
When you look at the matchup between the Tampa Bay Buccaneers and the Carolina Panthers above you will notice that the spread in this matchup is four points. You will also see a plus or minus in front of the four. In this scenario, the Panthers are the underdog and will receive four points if you bet on them while a wager on the Buccaneers will subtract for points from their total score.
Now if the Panthers lose by three points or fewer and you placed a bet on them you would win the bet. Now if you selected the Buccaneers and they won by only 3 points you would lose your wager. In the end, your team must cover the difference in points or use the points to score more than their opponents.
Totals Over/Under Betting – Totals Over/Under betting is another type of sports bet that is very popular among the industry. With this bet it is a different then betting on what the outcome of a specific matchup will be for one team/individual. When betting the total over/under of a matchup, you will be betting how the two teams/individual perform together against a total set number of points allotted for the matchup. With this type of bet you will either bet the over total points scored or the under total points scored.
Here is an example of Totals Over/Under betting:
New York Yankees @ Boston Red Sox
As you look at this matchup between the New York Yankees and Boston Red Sox, you will notice that below their names you see an over 6.5 and an under 6.5. Since this is a baseball game, you will be betting the number of runs scored for the game between those two teams. If you place a bet on the over 6.5 runs, you will need the two teams to score seven runs for you to win the bet. In some cases you will see one team put up more runs/points to cover the over by themselves.
Meanwhile if you place a bet on the under, you need the two teams to score six or fewer runs to win the bet. In other sports you will be betting the over/under against the total number on points scored or goals scored.
Futures Betting – Depending on the individual and the different types of sports bets they prefer, another popular bet and one that many like to look at as a potential investment is futures betting. Now with this bet you will be doing what the name says it is by placing a bet on a future event to take place. Futures betting is popular in a wide range of sports and has the potential to reward sports bettors with a huge return of investment depending on the specific future bet.
This is how a futures bet works. You will look at a specific sports league such as the NFL. Each team in the specific league will have odds placed on them to win their division, win their conference, win a specific set amount of games and win the Super Bowl. Those odds will range from lower odds on favorites to win to higher odds for teams that are less likely to win. If your team accomplishes the feat, you will win the bet. Now in addition to betting on specific teams you can also place bets on players to win league MVPs and Rookie of the Year honors before the season starts.
Here is an example of Futures Betting:
For this example we are looking at odds to win the next Super Bowl in the NFL. As you look at these odds, you can see the Kansas City Chiefs are favorite to win the next Super Bowl. If you were to place a $25 bet on the Chiefs now to win the Super Bowl and they won, you would win $100. Meanwhile if you placed a $25 bet on the Jacksonville Jaguars to win the Super Bowl and they won, you would win $3,750. As you can see with this, the opportunity to win big money is available betting the future of a specific sport.
Prop Bets – Now for many one of the most exciting types of sports bet type is the prop bet. While the other bets focus on the outcome of specific matchup or the end result of a sports league, prop bets focus on an entire different aspect of the game. A prop bet is a bet where you are placing a bet on a specific event during a contest such as how many yards a team may rush for in the game or how many points a basketball player might score in a game. Much like the over/under, you will be betting the over/under those numbers.
In addition to betting specific accolades such as points scored or yards rushed for, prop bets will also feature bets that include what color socks a player might wear or what color hoodie a coach might wear. Prop bets are extremely popular during the Super Bowl and typically features over 100 different types a year including how long the national anthem is, what color Gatorade will be dumped on the winning coach and how many times an announcer will say a specific word/phrase.
While prop bets are difficult to win in some aspects, it gives fans a reason to be excited during the entire contest.
Here are a few examples of different prop bets:
|Result of Coin Toss||Which Team Scores First||Over/Under 10 Points in First Half|
|Heads (-110)||Home Team (-110)||Over 10 (-110)|
|Tails (-110)||Away Team (+130)||Under 10 (+120)|
Above you will find three different prop bets. These three prop bets are just a few of the many that you will find for any contest. The first prop bet is the opening coin toss. In this case you can bet the heads or tails. The odds are the same so in order to win a $100 you would need to place a $110 bet on either the heads or tails. If that choice comes out you win the bet.
The second prop bet is which team will score first. If you bet the home team with a $110 bet and they score first you would win $100. Meanwhile if you placed a $100 bet on the away team and they score first you win $130. The third prop bet is the Over/Under 10 points scored in the first half. If you bet the over 10 points and the two teams score 13 points, a $110 bet would win you $100. Meanwhile if you bet the under 10 points and the two teams score 9 points, a $100 bet would win you $120.
These are the different types of sports bets you will find. Take your time and do you research on each type of bet before beginning.