Sports betting has evolved throughout the years and the betting odds being offered today is much more varied than ever before. However, the standard types of wagers remain the same and these bets are pretty much a staple in all of the bookmakers nowadays.
Understanding the types of bets could be daunting to some and their basic concepts could be hard to understand. However, getting familiar with the common online betting odds can provide you with more wagering options.
For every bettor, there is a type of betting odds that works for them. Let’s discuss some of them in this article.
Moneyline
Moneyline betting is also commonly known as straight bets. As the name suggests, they are pretty straightforward and are being offered by bookmakers.
To make it simple, moneyline involves betting on the team you think will win the match, as simple as that. You only need to understand the pu/minus format which indicates how much you could get for betting on an underdog for every $100 bet and how much you need to bet on favorite to win a $100.
Point Spread
Point spread or handicap betting is sometimes intimidating to novice bettors. However, it’s easy to understand and the key is knowing what you’re dealing with.
Similar to moneyline betting, they are presented in a plus/minus format, but rather than indicating dollars, the numbers signify points needed to win by one team.
Totals
Totals betting is also known as Over/Under bets and in this type of wager, the odds are created based on the integrated score of the two teams involved in the match.
The totals odds are based on the points set by the bookmaker and the job of the punter is to bet against it. The payouts will be determined if the score falls over or under the points being set by the bookie.
Futures
Futures bet is as the name suggests, a bet that is made for a sporting event that will happen in the future like the ฟุตบอลโลก. Futures bets are usually being offered at the beginning of the season of major leagues.
Depending on the tournaments, some bookies offer bets for the overall winner of the competition or who is the recipient of a specific award at the end of the season.
Prop Bets
Prop bets are also known as side bets, they are the type of bets that doesn’t rely on bettors’ sports knowledge or the result of the match.
The coverage of prop bets are wide, some odds like who will receive a penalty or who will score a goal twice exists. Some bizarre prop bets are also being offered such as predicting the duration of the national anthem being sung in a Super Bowl event.
Parlays
Now that you know the other types of betting odds, it is now time to discuss parlay bets. Parlays are also known as accumulator bets in Europe. It involves combining two or more bets in one big wager.
The payouts for parlay bets are usually double the amount of payout you will get if you place them individually. As lucrative as it is, there is one catch—because there are multiple selections in a single bet, if one selection loses, the whole parlay bet has lost too.
Conclusion
Getting familiar with different types of betting odds will give you an edge against the bookmaker and will give you more opportunities to win. Now that you know all of the common wagering odds, it is now time to choose one you think will work on your betting style and budget.
Aside from betting odds, you also need to take advantage of the bonuses available in your bookmaker, it will help you maximize your wagering.
