Sports Betting Types

Jul 15, 2020 Over the past few years, the emergence of daily fantasy sports has led to a renaissance for conventional sports betting. The anti-gambling stigma that existed for decades is fading in American popular culture, opening the door for a massive, multibillion-dollar legal sports betting industry to emerge. There are many betting types to choose from when placing a wager. From singles to multiples, we have a list of some of the most popular types of bet. Betting Types Single. Arguably the most common betting type. A straight win bet, placed on a single event. A single bet on two outcomes in different events.

1. Sports Betting Types Of Wagers
2. Best Sports Betting Site
3. Sports Betting Explained
4. Betting On Sports Games
5. Types Of Sports Betting Odds
6. Sports Betting Websites

• The most common type of sports wager is on the final score of a single game, known as a straight wager. One team is typically favored over another by a point spread; the favorite gives the underdog points as.
• Two of the most common sports betting terms are favorite and underdog, which are often the two sides to a bet that you can wager on. The favorite is the one side, team, or outcome that has the.
• The most common type of sports wager is on the final score of a single game, known as a straight wager. One team is typically favored over another by a point spread; the favorite gives the underdog points as a head start, for betting purposes. The favorite is always indicated by a minus sign (-3) and the underdog by a plus sign (+3).

You don't need an advanced degree to understand the language of sports gambling. Just refer to this page when you see an unfamiliar word or phrase.

Across the Board - A method of wagering on a horse to win, place and show.

Action - A baseball wager where no pitcher is specified. Also refers to the number of bets being placed on a certain event.

ATS (Against The Spread) - A method of referring to the result of an event that takes the pointspread into account. Also, the act of taking points rather than betting with the spread, or 'laying' points.

Bad Beat - A wager that loses unexpectedly.

Beard - A friend or acquaintance used to place bets, to conceal the true identity of the real bettor.

Book - An establishment that accepts bets on the outcome of sporting events.

Bookmaker/Bookie - A person who takes wagers on sporting events.

Buck - $100 (as in a 'buck' bet).

Buy (Points) - When a player pays an additional price to receive half a point or more in his favor on a pointspread game.

Canadian Line - A combination pointspread and moneyline in hockey.

Chalk - The favored team, athlete or horse.

Sports Betting Types Of Wagers

Chalk Player - Someone who usually only plays the favored teams, rarely betting on the underdogs. Also known as a 'chalkeater.'

Circled Game - A game where the limits are lowered, or betting options are restricted, usually due to injuries.

Cover - To beat the pointspread by the required number of points. When you win, you have 'covered the spread.'

Dead Heat - When two or more horses finish in a tie.

Dime - $1,000.

Dime Line - A line where the juice is 10 percent.

Dog - Short for 'underdog.'

Dog Player - A bettor who mostly plays the underdog.

Dollar - $100.

Double Action - An 'if bet' that is processed when the precedent bet wins, ties or cancels.

Double Bet - A wager for twice the size of one's usual wager; also known as 'double pop' or 'doubling up.'

Edge - A person's advantage when it comes to sports betting.

Even Money - A wager on which neither side lays any odds or vigorish.

Exotic - Any wager other than a straight bet or parlay, also called a prop or proposition.

Exposure - The maximum amount of money a sportsbook stands to lose on a game.

Favorite - The team expected to win an event. The quoted odds reflect the extent to which the choice is favored.

Fifty Cents - $50.

Figure - The amount owed to or by a bookmaker.

Final Four - The remaining four teams in the NCAA basketball tournament.

First Half Bet - A bet placed only on the first half of the game.

Futures - Bets placed on an event or outcome taking place some time in the future (e.g. betting during the season on the Super Bowl winner).

Getting Down - Making a bet.

Grand Salami - The grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.

Half-A-Dollar - $50

Half Time Bet - A bet placed only on the second half of the game.

Handicapper - One who studies and rates sporting events.

Handicapping - The attempt to predict the outcome of sporting events. Usually involves research.

Handle - The total amount of money bet on an event or group of events.

Hedging - Placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings.

Hook - A half-point.

Hot Game - A game that is drawing a lot of action on one side from knowledgeable handicappers.

Juice - The commission the bookie earns.

Laying the Points - Betting the favorite by giving up points.

Laying the Price - Betting the favorite by laying money odds.

Layoff - Money bet by a house with another bookmaker to reduce its liability.

Limit - The maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.

Lines - Another word for odds.

Linemaker - The person who establishes the original and subsequent betting lines. Also known as 'oddsmaker.'

Listed Pitchers - A baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.

Lock - An easy winner.

Longshot - A team, athlete or horse perceived to be unlikely to win.

Middle - To win both sides of the same contest in a sports betting event. Wagering on the underdog at one pointspread and the favorite at a different pointspread and winning both sides.

Moneyline - A wager where no pointspread is involved.

Move the Line - A player pays an additional price to receive half a point or more in his favor on a pointspread game.

Nickel - $500.

Nickel Line - A sports wagering line where the juice is five percent.

No Action - A wager in which no money is lost nor won.

Off the Board - A game that the bookmaker is not offering action on at that moment.

Outlaw Line - The earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.

Over/Under - A bet on whether the combined total of the points/goals scored by the two teams will exceed or be less than a specified number.

Parlay - A bet on two or more teams or outcomes where the original stake and winnings are reinvested on the next wager. All selections must be correct for the parlay to win. In the event of a push or a game cancellation, the parlay reverts to the next lower number (e.g. a 4-team parlay becomes a 3-team parlay).

Pick 'em - A game where neither team is favored.

Pointspread - The handicap, or head start, which the favorite gives to the underdog for betting purposes.

Press - To wager a larger amount than usual.

Prop (Proposition) Bet - A special wager offered by the sportsbook on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the moneyline format of payoff odds and might include who scores the first touchdown in the Super Bowl, who will win the next presidential election, or whether or not someone on trial will be found guilty.

Price - The odds or pointspread.

Puckline - Giving odds of a goal spread in hockey instead of using a Canadian Line, where both a goal spread and moneyline are played.

Puppy - The underdog.

Push - When a contest ends with no winner or loser for wagering purposes.

Round Robin - A series of three or more teams in 2-team parlays.

Run down - All the lines for a specific date, sport, time, etc.

Runline - In baseball, a spread used instead of the moneyline.

Runner - One who places bets for another.

Scouts - Person(s) who waits for what he thinks is an unusually strong wager. Also known as a 'sports player.'

Sharp - A sophisticated or professional gambler.

Sides - The two teams or athletes playing - the underdog and the favorite.

Single Action - An 'if bet' that's processed only if the precedent bet wins.

Spread - An abbreviated form of 'pointspread.'

Best Sports Betting Site

Square - A novice when it comes to sports betting.

Steam - When a line starts to move rapidly. Most 'steam games' do not necessarily reflect objective circumstances, but are games that draw a mass of bettors for some reason.

Store - A bookie or sports betting establishment.

Straight Bet - A wager on just one team, athlete or horse.

Taking the Points - Betting the underdog and its advantage in the pointspread.

Taking the Price - Betting the underdog and accepting money odds.

Teaser - A bet on two or more teams where the line on each team is adjusted in the favor of the bettor. Like a parlay, all selections must be correct for the teaser to win.

Ticket - A sports betting wager.

Tie - A wager in which no money is lost nor won because the teams' scores were equal to the number of points in the given line.

Total - The combined amount of runs, points or goals scored by both teams during the game, including the overtime (see Over/Under).

Totals Bet - A proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sportsbook.

Tout - Someone who sells his/her expertise on sports wagering.

Under - A wager that the total points scored by two teams will be under a certain figure.

Underdog - The team perceived to be most likely to lose. Also known as the 'dog' for short.

Value - Getting the best odds on a wagering proposition; the highest possible edge.

Vigorish - The bookmaker's commission on a losing bet; also known as 'juice' or 'vig' for short.

Wiseguy - A well-informed or knowledgeable handicapper or bettor.

When it comes to sports betting, you can go simple or extravagant. We will cover the basic bets first, and then look at some intricate ways to get action down on your favorite team. By the time you are through reading this page, you will be able to bet on sports like a professional. Then it is up to your teams to do their part. (Note that not all types of sports bets apply to all sports.)

Side Or Spread Betting

Indianapolis Colts (-3) vs Cleveland Browns (+3) is a typical side or spread bet proposal. Whether betting on two individuals or two teams, often times the betting options you have will be expressed in this format. You are placing a wager on what you feel the resulting score of this game will be, and on which team you think will emerge victorious after the final score has been adjusted to that particular spread. In this scenario the Colts have to win by more than 3 points if you bet on them, and the Cleveland Browns can either win outright, or lose by less than 3 points to win your bet.

Betting The Moneyline

Instead of a point spread, you may see a sports contest with money line wagering offered. If the Houston Astros are a -150 favorite over the Cincinnati Reds, you must bet $150 in order to win $100 if you favor the Astros. In the above example, if the Astros are -150, the Reds might be +130. So betting on the Reds in this scenario means a $100 bet would win $130. You will notice the 20 cents difference in the juice, this is where the bookmakers make their money.

Totals Betting, Also Called Betting the Over/Under

Here you are simply betting that a combined score of some type of sporting contest will be over or under the posted total. In National Basketball Association action you may see a total line of 197 points for the upcoming Cleveland Cavaliers contest against the Miami Heat. In this case you do not have to pick a winner. You simply wager on whether more or less than 197 points will be scored in that game, by both teams combined. In football betting over totals make sense with teams like Denver and Philly who move the ball up and down the field and can score in the blink of an eye.

Buying Points

What if you think that the Indianapolis Colts in the above example really are about 3 points better than the Cleveland Browns, but you still want to bet on Indianapolis? You can “buy points” and move the line in one direction or another. In football this generally means moving the line up to 2 points, but many sportsbooks allow you to purchase more points. Usually, for every 1/2 point that you move the spread or line, you pay more “juice” or vigorish typically 10 cents. Most NFL and NBA games use a standard $110 bet to win $100 when you accept their posted point spread. When you buy points, the juice you pay goes up to compensate for you creating a more attractive line.

Parlay Betting

When you group multiple bets into one bet for a larger payout, you are betting a parlay. If you see 5 different games you think are very attractive, whether betting the side, money line or total, you can make a single 5 team parlay bet to take advantage of that. Since all five “legs” of your bets must win for you to be successful, the payout is much larger than if you wagered on each of those 5 games individually. Receiving a generous 10 to 1 payout on a 4 team parlay is not uncommon.

Sports Betting Explained

Round Robins

A round robin is simply a group of parlays. For instance, a 3 team round robin would be made up of a single 3 team parlay on games/teams A, B and C. It would also include three 2 team parlays, A and B; B and C; A and C.

Teasers

Like the parlay above, a teaser bet is a more intricate wager than a simple money line, spread or total bet. And just like a parlay bet, you combine several bets into one. However, you move the line or spread in your favor on every one of your individual legs. Additional points can be added or subtracted to the spread, money line or totals bets you are making, depending on how many teams are in your teaser bet. In some cases you may move the line as many as 21 points. Usually, all portions of your teaser bet must win for you to win. Teasers are a good bet when you think the line is very close and the lines makers have it right.

Pleasers

Betting On Sports Games

Think of a pleaser bet as a reverse teaser. But instead of moving the line in your favor, you receive more attractive payout odds by moving the line against your position. You are giving away points instead of receiving them. Why would you want to create a less attractive spread or side? It the San Francisco 49ers are favored by 6 points and you believe they will win by much more than that, you can increase your odds by placing a pleaser wager with them by giving up 12 points instead of the posted 6.

If Bets

An If Bet is a group of usually 2 to 6 straight bets, depending on an “if” proposition. If A, then B. This helps you to limit your risk. Your second bet will only have action if your first bet is successful. If you have a limited bankroll, if bets can help you minimize your potential losses. And unlike a parlay where all of your teams need to win in order to get paid, an if bet pays you winnings on every leg, and rolls the original bet onto the next leg. So if you feel good about 5 teams on Sunday, but don’t have a large bankroll and don’t want to risk everything in a parlay, and if bet might make sense to you.

Reverse Bets

This can get a little complicated. Reverse bets are if bets that work in two directions. In other words, if you place an “if A, then B” bet as a reversal, you are also placing an “if B, then A” wager. This means that reverse bets are double action. Most sportsbooks will allow you to still have action in the event of a tie with a reverse bet.

Prop Bets

You will often see these types of bets during championship sporting events. The Super Bowl is known for offering some pretty crazy and downright enjoyable proposition (prop) bets every year. You may be offered the proposition of betting on how the opening coin flip will end up, or if Peyton will throw 3+ touchdowns on the day. Proposition bets exist in all sports, and have virtually no limit to their scope. In a soccer game, you may see a prop bet that lets you wager on how many goals a particular player will score, who will score first, or how many penalty shots will be taken.

Future Bets

This particular type of bet is exactly what it sounds like. You are making a guess as to a future outcome. Every year, futures wagering is heavy on Super Bowl, World Series and NBA Championship winners. Well before the season starts, you can place a wager that a particular team will win a certain sporting contest “in the future”.

Types Of Sports Betting Odds

Live Betting, First Half Bets, Second Half Bets

Sports Betting Websites

In recent years, “live” betting has surfaced. This allows you to place wagers while play continues, and in real-time. These can include first half bets and second half bets, with your action restricted to either the first half or second half of play. There are also tons of other live and in-play wagers you can make one individual achievements and team efforts.