Betting on sports is an exciting way to spend your leisure time, and it can be very rewarding when you win. However, there is more than one kind of bet. Not all bets are created equal, and you need to understand the various types of bets before you start placing your wagers.
Moneyline
The moneyline is the most basic kind of sports bet. To place a moneyline bet, you must first select whether the game is a winner-take-all game (where the team with the most points at the end wins) or a parlay/combination bet (where the combined results of all games play a part in determining the outcome).
For example, you can bet on the Dallas Cowboys to win the Super Bowl (+105) or to cover the spread in the NFL Red Zone Game (+105) (if the Red Zone Game is also a part of the Super Bowl).
Additionally, you can choose to wager on individual players or teams. For example, you could lay $100 on Antonio Brown to score a touchdown (+1200) in the Steelers vs. Browns game. Or, you could wager on the New England Patriots to beat the point spread (+105) in the NFL game.
Point-Spread
A point-spread bet is similar to a moneyline bet, except that you are betting on the total number of points rather than on which team will win. To place a point-spread bet, you must first select whether the game is a winner-take-all game or a combined score/playoff type of bet. For example, you can bet on the Arizona Cardinals to win the Super Bowl (+9.5) or lay 10 points on the New England Patriots in the NFL (-9.5) game.
Additionally, you can choose to wager on individual players or teams. For example, you could lay $100 on the Chicago Bears to cover the spread in the Bears vs. Vikings game. Or, you could wager on the Green Bay Packers to lose the Super Bowl (-110) or cover the spread in the NFL (-110) game.
Over/Under
An over/under (usually abbreviated as OVER/UNDER) bet is a combination of a point-spread bet and a moneyline bet. To place an over/under bet, you must first select whether the game is a winner-take-all game or a combined score/playoffs type of bet. For example, you can bet on the over (+150) or under (-150) number of points that will be scored in the game.
Additionally, you can choose to wager on individual players or teams. For example, you can lay $100 on the Detroit Lions to score at least 17 points (+500) in the Lions vs. Vikings game. Or, you can wager on the Pittsburgh Steelers to lose the Super Bowl (+140) or cover the point spread in the Big Ben-less Steelers vs. Colts game (-140).
Double/Triple
A double/triple bet (double-or-nothing, basically) combines two types of bets – a point-spread bet and a moneyline bet – into one wager. You must first select whether the game is a winner-take-all game or a combined score/playoffs type of bet. For example, you can bet on the Dallas Cowboys to win the Super Bowl (+105) or lay 10 points on the New England Patriots in the NFL (-110) game. Then, you can wager on whether Troy Aikman or Emmitt Smith will have the most rushing yards in the game (+100 moneyline, +120 point-spread).
Additionally, you can choose to wager on individual players or teams. For example, you can lay $100 on the Chicago Bears to cover the spread in the Chicago vs. Vikings game. Or, you can wager on the Green Bay Packers to lose the Super Bowl (-110) or cover the point spread in the Green Bay vs. Colts game (-110).
Auction
An auction bet is a type of double/triple bet where you choose the players or teams that will participate in the game. For example, you might wager that Joe Montana will throw no more than three interceptions in the 49ers vs. Oakland Raiders game. Or, you might wager that the Chicago Bears will score at least two touchdowns in the Bears vs. Vikings game.
Additionally, you can choose to wager on individual players or teams. For example, you can lay $100 on Antonio Brown to score a touchdown (+1200) in the Steelers vs. Browns game. Or, you can wager on the New England Patriots to lose the Super Bowl (-110) or cover the point spread in the NFL (-110) game.
Accumulator
An accumulator is a type of double/triple bet where you combine several point-spread bets with several moneyline bets, all on the same team. For example, you can lay $10 on the New England Patriots to beat the point spread (+105) in the NFL (+105) game. Then, you can lay $10 more on the Green Bay Packers to cover the point spread (-115) in the Green Bay vs. Colts game (-115).
Additionally, you can choose to wager on individual players or teams. For example, you can lay $10 on Antonio Brown to score two touchdowns (+2200) in the Steelers vs. Browns game. Or, you can wager on the Baltimore Ravens to lose the Super Bowl (-150) or cover the point spread in the Joe Flacco vs. Houston Texans game (-150).
Parlay
A parlay bet combines several point-spread bets with several moneyline bets, all on the same team. For example, you can lay $10 on the New England Patriots to beat the point spread (+105) in the NFL (+105) game, and you can lay $10 more on the Green Bay Packers to cover the point spread (-115) in the Green Bay vs. Colts game (-115).
Additionally, you can choose to wager on individual players or teams. For example, you can lay $10 on Antonio Brown to score a touchdown (+1200) in the Steelers vs. Browns game. Or, you can wager on the Pittsburgh Steelers to lose the Super Bowl (-140) or cover the point spread in the Steelers vs. Colts game (-140).
Combination
A combination bet combines two or more types of bets into one wager. For example, you can lay $10 on the New England Patriots to beat the point spread (+105) in the NFL (+105) game, and you can lay $10 more on the Green Bay Packers to cover the point spread (-115) in the Green Bay vs. Colts game (-115).
Additionally, you can choose to wager on individual players or teams. For example, you can lay $10 on Antonio Brown to score a touchdown (+1200) in the Steelers vs. Browns game. Or, you can wager on the Baltimore Ravens to lose the Super Bowl (-150) or cover the point spread in the Joe Flacco vs. Houston Texans game (-150).
Lay Bet
A lay bet is a type of combination where you wager on the outcome of a future game. For example, you can lay $10 on the Oakland Raiders to beat the New England Patriots (+105) in the Super Bowl. Then, you can lay $10 more on the same team to cover the point spread in the AFC Championship game against the Denver Broncos (-125).
Additionally, you can choose to wager on individual players or teams. For example, you can lay $10 on Antonio Brown to score a touchdown (+1200) in the Steelers vs. Browns game. Or, you can wager on the Pittsburgh Steelers to lose the Super Bowl (-140) or cover the point spread in the Steelers vs. Colts game (-140).
Hopefully, this will help you understand the various types of sports wagers available and how to use them to your advantage. Remember: nothing stops you from placing a bet whenever you want – the fun of gambling! Just understand the rules and regulations in your area before you start laying down money.