Types of Sports Betting
Whether you are interested in sports betting for entertainment or for profit, there are many options available to you. Having a basic understanding of the different types of wagers will help you make a smart decision.
There are four basic types of sports wagers: moneylines, spreads, parlays, and round robin. Each of these options has its own unique characteristics.
Moneylines are the most basic of sports wagers. They allow you to predict whether a team will win or lose a game. The moneyline is assigned by bookmakers and reflects the implied probability of a specific result. If the team you choose wins, you win the bet. But if they lose, you receive a refund.
Spreads are the most common types of sports wagers. The spread assigns a margin of points by which a favored team needs to win to “cover the spread”. For example, if you choose the Miami Heat to win, they must win by four points or more. However, if you choose the Buffalo Sabres to win, you must win by five points or less.
Parlays are the most popular type of sports bet. They allow you to combine several outcomes into one wager. They are more likely to pay out than a straight bet, but they are more difficult to hit.
Round robin bets allow you to place a series of two or three parlays. You pick a sport(s), the number of games, and the number of points you want to bet on.