Sports betting is a popular entertainment around the world for sports enthusiasts. There are several sportsbooks available online that promotes responsible betting while offering the best odds to win in different betting types. As a beginner, you must learn about different betting types to find the best wagering options for your favourite game. Here are the different betting types available on the online sportsbooks.
The common most sports bet that you can buy a straight bet. Almost every beginner in sports betting starts with straight bets where betting professionally or among friends. Straight bets are the most popular in team games such as football, cricket, and basketball. Straight bets have a single betting line referred to as the spread. You can bet on the favourite crowd team and give up on the points or gain them by betting on the underdog. The favourite has to win with more points than the setpoint for spread to get profits from the spread. The underdog needs to win to lose by less than the setpoint to win or cover the bet. In case of a draw, the bet money is returned.
Total line benefits
Total line is the next popular wager in sports betting that sets a number for the combined final score of both the teams. The bets are placed for under and over the set line for the total score. Most of the team games like football and cricket allow you to bet in the beginning and before the second half of the game.
Money line bets
A money line bet is a special bet where you choose a team to put the wagers and get direct wins without any spreads on the lines. The risk in money line bets is the amount you need to bet on a team and the amount you can win if you pick an underdog. Almost all major sports accept the money line bets, including solo games like tennis, golf, and chess to team games like cricket, hockey, and football.
Parlay bets are the high risk and reward wagers where you need to place bets on a group of individual bets together in a single bet. You can get as much as 645-to -1 rewards for parley bets if you choose to bet on ten different picks. The betting odds are adjusted based on the total number of your picks. While you can get rewarded highly for these bets, you will only win the bet if all your picks win. Otherwise, the entire parlay is lost.
Teaser bets are similar to parley in a lot of ways except for one difference. While you are grouping two or more picks in a single bet, you can now tweak the point spreads while lowering your payouts if you win. This will prevent the high losses in case your parley loses. The only downside of teasers is that they are difficult to hit, just like parley, and the rewards are also not that benefitting.