If you’re interested in betting on sports, there are many different types of bets to choose from. Before making a bet, you’ll want to consider your goals. Some of the most common types of bets include moneyline, spread, and totals.
Moneyline bets are simple. You pick a team to win the game. If that team wins, you get your bet back. However, if you choose an underdog, you can win your bet even if the other team loses. The underdog takes points off of the final score.
Spread bets are similar to moneyline bets, except the favored team is given a point spread. These are usually in increments of a half-point. This helps even out games that are expected to be lopsided.
Totals bets also include prop bets. Usually, these are statistical in nature and involve predicting the total number of points scored by two teams. For example, you can bet on the total rushing yards for a running back in football. Or, you can bet on the total strikeouts for a pitcher in baseball.
Point spreads are assigned based on the expected difference between the teams’ scores. When the difference is large, the favored team pays less than the underdog. This allows the underdog to offer more value to bettors.
Parlays are another popular type of bet. These involve multiple bets, usually in combination with moneyline and spread bets. If all the bets in a parlay win, you get a higher payout. Compared to single bets, parlays are more difficult to hit.