With the sports betting market expected to be worth approximately $140.26 billion in 2028, there’s no better time to get involved and claim a share of these enormous revenues.
But, before wagering any money, it’s essential to learn about the various types of sports bets so you can make informed gambling decisions. After all, you won’t want to make the wrong choices and risk your cash in exchange for low odds that would give you a poor payout.
Don’t worry, this short guide will teach you all you need to know about some of the most common types of bets in sports.
Keep reading to find out more.
Moneyline Bets
One of the easiest ways to bet on sports is to place a moneyline wager. This involves choosing if a team or individual competitor will win, lose, or draw. There are no other variables to consider and you will be successful if you choose the correct outcome.
This is a great way to get started with sports betting, and you can buy sports picks here and place your first wager.
Over/Under Bets
In over/under betting, the bookmaker will quote a number related to a sports game such as the combined number of points that will be scored by both teams in a game.
To place a bet, you will wager that the total score will either be over or under the bookie’s predicted number, and you win if you make the right choice.
Point Spread Bets
Point spread bets are a little more complicated, as you will be betting on a game’s outcome and also the margin of victory or defeat.
For example, if a bookmaker lists a team as -9.5 and you select that option, your team needs to win by at least 10 points for your bet to be successful. But, if a team is listed at +10 and loses by 9 points or less, then you would win the bet.
This betting type requires you to be very accurate with your prediction, so you need to know a bit more about a team’s performance levels before placing a wager.
Parlay Bets
You can get a higher payout with parlay bets, but the catch is that you have to link two or more wagers together.
For example, you could gamble that three different teams would be victorious in their games, and if this outcome happens then you could win a considerable amount of money. But, if even one of your predictions is wrong, your whole bet loses and you would receive nothing.
This is a fun type of bet that could be very profitable.
Enjoy Trying Out the Different Types of Sports Bets
You may find that you enjoy some types of sports bets more than others. While the simplicity of moneyline wagers makes them popular among gamblers, you might prefer the excitement of a parlay bet that can give you a handsome payout.
It can also be interesting to try different kinds of bets over the course of a week and find out which ones turn out to be most successful.
If you’ve enjoyed reading this post, be sure to check out our Sports articles before you go.
