Sportsbetting 101 – Understanding the Different Types of Bets
Sports betting is an exciting and growing industry, but it can also be intimidating for newcomers. From moneylines to spreads and parlays, there are a lot of different types of bets to choose from. But understanding how to read and interpret odds is the key to a successful sportsbetting strategy.
A point spread is a bet that makes uneven games more fair by lowering the winning team’s chances of winning by a set number of points (the losing team’s chance of wining by a certain amount is called covering the spread). Oftentimes, a favorite will cover a large part of the spread, while an underdog covers only a small percentage.
If you’re looking to increase your profits, it’s a good idea to open a specific bank account that is dedicated to placing bets. This way, you’ll be able to keep track of your total wins and losses. Also, having a separate account allows you to be more disciplined in your betting. For instance, if you bet $1,000, you should only risk 1% to 3% of your bankroll on any single bet.
Unlike standard wagers, futures bets are placed on events that will take place at some point in the future. This can be on a particular team to win the Super Bowl, March Madness, or any other competition. Futures bets typically have lower win-probability but offer much larger payouts than standard bets. To maximize your profit potential, it’s a good idea to shop around for the best odds and lines.