Sports Betting Options
The four major American sports of Football, Basketball, Baseball and Hockey have similar options for your sports betting. There are three major bets which can be placed in addition to any prop bets exclusive to each sport. Here we will run through the three major types of bet:
The moneyline bet although potentially imposing for the beginning gambler is a relatively simple bet to make. You are simply choosing which team or player will win. There are no handicaps or point spreads to take into account so all you have to do is pick who you think will win. Moneyline bets are expressed in terms of bets of $100, for example in a hypothetical baseball game:
Philadelphia Phillies: -120
New York Mets: +130
In this instance the Phillies are favourite to win as they have the minus (-) in front of their number. This states that in order to win $100 the bettor would need to place $120 on the Phillies to win. However, if you back the Mets who are the underdogs you would win $130 for your $100 wagered.
Moneyline bets are extremely popular as there is no reliance on a team beating the spread and you are able to simply pick which team you think will win. Whilst returns on the favourites may not be as large as other types of bet there is less risk.
Point Spread (Football, Basketball)/Runline (Baseball)/Puckline (Hockey)
These three bets are in essence the same for the sports bettor and for ease of this explanation we will simply refer to them as a point spread bet. A point spread bet is a variation on the moneyline bet in that you choose which team will win but with an additional handicap placed on the team. The favourite for a team will have points/runs/goals taken off their final score whilst the underdog will have these added to their score. For example if in a hypothetical NFL game the Indianapolis Colts were playing the Buffalo Bills the Bills (sorry Bills fans) would be large dogs and so the point spread would be in their favour:
Colts: -12.5 -101
Bills: +12.5 +109
If the Colts are able to beat the Bills by 13 or more points and cover the spread then bettors who have backed the Colts would win $100 for every $101 they had wagered. If the Bills either won this game or lost by less than 12 points then a wager of $100 placed on the Bills would return $109.
Betting on totals or overs and unders is another way for you to make money from your sports betting if you aren’t certain which team to back but think you know whether the game will be high scoring or not. Totals bets or overs and unders bets mean you combine the score of the home and away team and if it is either over or under the suggested total from the sportsbook you can win.
New York Jets @ Miami Dolphins finishes 17:24 and the total was 40 – if you had bet over you would have beaten the sportsbook as the total was 41.