Bets are placed through sportsbooks (US) or bookmakers (UK) that accept bets. You can bet on the result of various sporting events, such as; Baseball bets, basketball bets, football bets, tennis bets, hockey bets, billiards and football betting games.
To place a sports bet, you go to a bookmaker, physical or online. You can also bet over the phone with many sportsbooks. Keep in mind that a sportsbook or sportsbook is not the same as a bettor. The bookmaker simply accepts sports bets. A bettor is a person who sets the sports betting odds.
You must indicate what you are betting on by making a selection, the type of bet and the amount you are betting. Your selection will obviously depend on the odds offered, so you’ll want to examine the range of odds available before making your decision.
There are many types of bets that you can make. Some sports books may offer more bet varieties and combinations than others. Below is a list of the most common types of bets.
Direct or simple bet.
This is the simplest and most common bet. Betting on a winner with given odds.
Point difference.
This bet allows you to bet on a winner of two selections that have been tied by allocating appropriate points to the underdog. The Point Spread is the number of points awarded and is shown with a + sign for the favorite and a – sign for the underdog. The favorite has to win by more than the point margin for you to win; otherwise, you lose your bet even if the team wins. Conversely, if you bet on the underdog, that team has to lose by less than the point spread for you to win. If the favorite wins by the exact Point Spread, then it is a tie or a tie. You get your bet back. To eliminate a tie result, bettors will sometimes include a half-point spread. Since the scores only use whole numbers, a team has to win outright.
Buy points.
Also, to buy Key Points. Move the Point Spread favorably at a price.
The money line.
This sets the odds for each team, but inversely proportional to what a point spread would have been, and is denoted by a + sign for the underdog and a – sign for the favourite. Let’s say team A is the favorite and trades at -180 and B is the underdog at +120. The bets offered would be 10:18 for the favorite and 12:10 for the loser. For every $180 you bet on A, you will win $100 or lose $180, but for every $100 you bet on B, you will either win $120 or lose $100.
Total.
A bet on the number of points scored in the game by both teams combined, including points scored in overtime.
Below.
A bet that the combined number of points scored by the two teams in the game will be higher or lower than the total set by the bookmaker.
Parlay or Accumulator.
A multiple bet. Sort of a ‘let it go’ bet. Making simultaneous selections on two or more games with the intent to press the winnings of the first win over the bet on the next selected game, and so on. All selections made must win for you to win the parlay. If a game is a draw, postponed or cancelled, your parlay is automatically reduced by one selection; a double parlay becomes a straight bet, a triple parlay becomes a double. A parlay bet can pay big dividends if it is won.
Puzzle.
It’s like a parlay, but with the option to add or subtract points (called ‘move the line’) from one or more spread bets. By betting a teaser, additional points are added to the underdog or subtracted from the favourite. The odds vary depending on how many points the spread is moved and how many teams are combined to form the teaser. As in the parlay, all teams must win for the teaser to win. Teaser odds are usually worse than accumulator bets.
Yes-bet.
A bet that allows the bettor to place a second bet, up to an equal amount, in hopes of winning on the first selection.
open bet
Spread betting allows the bettor to play teasers or parlays by making a selection at different times and even on different days.
Future.
A bet on a future event. At the start of each season, sportsbooks give odds for teams to win a given championship. The odds change as the game date approaches, and in most cases get shorter, but if you win, you are paid at the original odds you took. This is possibly one of the most profitable bets if you have considerable knowledge of the sport you are betting on, including the players, and a good sense of judgement.
exotic bets
Bets on unusual events. Some sportsbooks publish odds and accept bets on a wide variety of other sports-related events and activities. Some others will take bets on just about anything you can think of.
Prop bet or Prop Bet.
An offer of bets with odds and conditions chosen by the sportsbook, usually on ‘Exotic’ bets.