Sports betting is beyond winning or losing. It’s about how you bet—and there are different types of bets to play with. The moneyline bet is a great starting point—just back the team you think will come out on top. Then there’s the point spread, which gives underdogs a chance and adds a layer of excitement. And if you like predicting scores, then the over/under bet keeps every point exciting.
Knowing these core bet types delivers two outcomes:
- Makes you a better bettor
- Opens up new ways to bet
Also, the more you know, the more fun it gets. So, let’s understand them in detail.
What are Bets?
A bet is a wager. You stake money on the outcome of an event, which is usually a sports game.
Simply put, it’s like saying, “Hey, I believe this will happen,” and if you’re right, you win money. Else, you lose the stake. Sports betting gives you many ways to bet. You can keep things simple by picking a winner with a moneyline bet. Or you can try to guess the total score, by how much a team will win, or what will happen during the game.
Either way, betting makes each game way more exciting and lets you earn more if you’re right. Betting combines strategy, knowledge, and a bit of luck. This mix makes sports more engaging.
Example:
Imagine a football match between Team A and Team B.
- You bet on Team A to win. If Team A wins, you earn money based on the odds. If they lose, you lose your bet, too.
- To put that in numbers, let’s say you had bet $10 on Team A and they won. You get $20 back (which is your actual $10 + $10 in profit). But if Team A loses, you lose your $10 bet as well.
In simple words, you’re predicting an outcome. If it turns out correct, you win money. If you’re incorrect, you lose the money you bet.
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What are the Different Types of Bets?
Regardless of your experience, understanding the different types of bets gives you an advantage. We’ll cover 15 popular bets, including examples, tips, and when to use them.
1. Moneyline Bet
A moneyline bet is all about simplicity. You’re just picking which team will win. Meaning, there are no points or spreads to worry about. It’s the most uncomplicated and popular bet type that beginners use. In fact, moneyline is likely the first bet you’ll come across while learning about how to bet on sports.
Example: Think of a football match between Team A and Team B. Team A is favored to win with odds of -150, whereas Team B is the underdog with odds of +200. If you bet $50 on Team A and they win, you’ll make a $33 profit along with the $50 you had put (total $83). But if Team A loses, you lose your $50.
When to Use Moneyline Bet
This bet is ideal when you see a clear winner. It’s simple and perfect for when you’re confident in the outcome. Also, it avoids the hassle of point spreads or totals.
Tips:
- Avoid betting big on heavy favorites. The payouts are smaller, but the risk is still there.
- If you believe in the underdog, bet here. You can get a larger payout despite a small bet.
2. Point Spread Betting
If you’re aware of the sports betting terms, you’ll often hear about point spreads. Point spreads add strategy to betting. Here, you bet on the winner as well as the margin of victory or defeat. The favorite must win by a set number of points. Meanwhile, the underdog can lose but still “cover the spread.”
Example: Consider the same Team A and Team B example. If Team A is favored by 7.5 points over Team B, they must win by 8 or more points for your bet to win. Conversely, if you bet on Team B, they can lose by up to 7 points, and you’ll still win your bet.
When to Use Point Spread Bets
If you’re dealing with unevenly matched teams, then point spread are excellent. Why? Because it makes the game more competitive.
Tips:
- Keep an eye on half-point spreads (like 7.5). These prevent ties and make it clear whether your bet wins or loses.
- Check for any last-minute spread changes; these often signal updates on key players or important game factors.
3. Over/Under Bet (Totals)
Over/under betting (or “totals”) is where you bet on the combined score of two teams instead of picking a winner. Here, the sportsbook sets a number first. Then, you bet on whether the total points will be over/under a specific figure. It’s a great bet if you’re not sure which team will win, but have an idea about the game’s scoring.
Example: Assume that the total for a basketball game between Team A and Team B is set at 210.5 points. Now, if you bet the ‘over,’ and the final score goes to 211 or more, you win. If you bet the ‘under,’ and the final score turns out to be 210 or less, you win.
When to Use Over/Under Bets
Use this bet when you’re sure about the score rather than selecting a winner.
Tips:
- Consider factors like weather (for outdoor sports), injuries, and team form. These all affect scoring potential.
- Keep an eye on team play styles. Some teams are defensive-minded, whereas others are high-scoring.
4. Parlay Bets
A parlay bet lets you combine multiple bets into one. The catch? Every individual bet (or “leg”) in your parlay must win for you to cash in. It’s a riskier approach, but the potential payout is much larger. This approach is riskier, but the rewards are higher.
Example: Assume that you’re betting on three different teams. Team A to win, Team B to cover the spread, and Team C to go over 220 points. If all three bets win, your parlay pays off big. But if even one loses, the whole parlay is busted.
When to Use Parlay Bets
Use parlays when you’re confident about multiple outcomes. Or, if you want a bigger payout from a small bet.
Tips:
- Don’t add too many legs out of greed. The more legs, the harder it is to win.
- Stick to bets you feel good about—don’t just throw in random picks to inflate the payout.
5. Prop Bets (Proposition Bets)
Prop bets are bets on specific game events rather than the outcome. You can bet on just about anything. For example, how many touchdowns a player will score or how long the national anthem will last at the Super Bowl. Prop bets bring a fresh approach to betting and adds the engaging angle.
Example: You put your money on Player X to score the first touchdown. If he does, you win.
When to Use Prop Bets
Use prop bets for casual games. They’re best for focusing on individual player performances or specific events, not the game’s outcome.
Tips:
- Player props are great if you know an athlete’s tendencies.
- Game props, like how many points a team will score in a quarter, can keep things exciting throughout the game.
6. Teaser Bets
A teaser bet is like a parlay bet. The difference is that you can adjust the point spread or total in your favor. This applies to all the games you bet on. Though this makes it easier to win, the payouts are lower when compared to parlays.
Example: Let’s say that the point spread for Team A is -7.5. In this case, you can “tease” it down to -3.5. Doing this makes it easy for your bet to win. Now, what if you also tease Team B from +3 to +7? Well, you’ll need both bets to win for your teaser to pay out.
When to Use Teaser Bets
Teasers are useful when you feel confident about multiple outcomes but want to reduce your risk by adjusting the spread.
Tips:
- Keep teasers to two or three legs. It’s tempting to add more, but the risks increase.
- Use teasers on games where you think the original spread is too close to call.
7. Round Robin Bets
A round robin bet breaks a parlay into multiple smaller combinations of bets. This prevents the need for your picks to hit to win something. Moreover, this spreads the risk and still has the possibility of bringing a strong payout if most of your picks win.
Example: If you make a round robin with three teams, you’re creating multiple two-team parlays. Even if one team loses, you can still win on the other two-team combos.
When to Use Round Robin Bets
Use round robins when betting on multiple games. They reduce your risk a bit.
Tips:
- Round robins are excellent if you’re confident in your picks but want a safety net.
- They are safer than straight parlays, yet they offer a chance for decent payouts.
8. Matched Betting
Matched betting uses free bets and promotions from sportsbooks. By placing bets on both sides of an outcome, you can secure a profit, regardless of the results.
Example: If a sportsbook offers a $50 free bet, you can place the free bet on one outcome and an opposing bet on a betting exchange. You’ll win regardless of the result.
When to Use Matched Bets
Matched betting is a great strategy. It works when sportsbooks offer promotions. So, use it to maximize value.
Tips:
- Track sportsbook offers. Use every promotion they provide.
- You’ll need access to multiple betting accounts for this strategy to work effectively.
9. Progressive Betting
Progressive betting is where you change your bet based on your previous bet. If you win, you might bet more. If you lose, you might bet less. It helps maximize your winnings during streaks and minimizes losses in a slump.
Example: If you start with a $10 bet and win, you increase your next bet to $20. If you lose, you drop it back to $5 to manage risk.
When to Use Progressive Bets
Use progressive betting when you’re following a streak-based system or have a solid bankroll strategy.
Tips:
- Set clear limits so you don’t go too far chasing wins or trying to recover from losses.
- Make sure you have a good understanding of bankroll management to avoid heavy losses.
10. Unit Betting
Unit betting means wagering a set percentage of your bankroll each time. Doing this ensures consistency and prevents overspending on any single bet.
Example: If your unit size is $10 and your bankroll is $100, bet one unit ($10) on each game. Do this regardless of your confidence in the outcome.
When to Use Unit Bets
Unit betting is great for discipline and bankroll management over the long run.
Tips:
- Stick to your unit size, no matter how sure you are about a bet. The goal is consistency.
- Adjust your unit size as your bankroll grows or shrinks.
11. Handicap Betting
Handicap betting allows one team to have an edge or a setback. This makes games between uneven teams more exciting. It’s similar to point spread betting but is also used in other sports, including horse racing.
Example: If you’re betting on soccer, you might pick a team with a -1.5 handicap. This means they need to win by at least two goals for you to win your bet.
When to Use Handicap Bets
Handicap betting is useful when there’s a strong favorite, and you want to balance the odds.
Tips:
- Note how teams perform against weaker or stronger opponents. It will affect your handicap decisions.
- Consider handicaps in games with clear favorites to increase your potential payout.
12. Vig Betting (Juice)
The vig (or “juice”) bet is where a sportsbook takes a small commission on every bet. The odds are built in a way to ensure that the sportsbook profits regardless of the outcome.
Example: If both sides of a point spread are -110, the sportsbook takes a small cut, which is the vig.
When to Use Vig Bets
You can’t avoid the vig, so understanding it helps you make better betting decisions.
Tips:
- Always check the vig before betting, as it affects your payout.
- Compare sportsbooks for the best odds to lessen the vig’s impact.
13. Puck Line Betting
Puck line betting is a hockey-specific wager that works like a point spread. Favorites are usually a goal and a half ahead (so they start at -1.5). And underdogs are spotted a goal and a half.
Example: If you bet on the favorite at -1.5, they must win by 2 goals. However, if you bet on the underdog at +1.5, they can lose by 1 goal, and you still win.
When to Use Puck Line Bets
Puck line betting is a good fit for hockey games when the teams are pretty evenly matched, but you want a bigger potential payoff.
Tips:
- Check each team’s past scores to predict game goals.
- For low-scoring games, consider betting on the underdog.
14. Push in Betting
A push happens when the game matches the point spread or total exactly. In this case, no one wins or loses. Usually, you get your original bet back.
Example: If you bet on a game with a 7-point spread and the favorite wins by exactly 7, it’s a push. You get your money back.
When to Use a Push
You don’t plan for a push. It just happens. But knowing how it works can prevent confusion.
Tips:
- Look for spreads with half-points (like 7.5) to avoid pushes altogether.
- Keep track of any pushes in your betting history to better understand how frequently they happen.
15. Arbitrage Betting
Arbitrage betting is a type of bet where you bet on all outcomes of an event using different sportsbooks. This guarantees a profit. This occurs when different sportsbooks offer slightly different odds.
Example: If one sportsbook has Team A at +150 and another has Team B at +150, you can bet on both sides and lock in a profit regardless of who wins.
When to Use a Push
Arbitrage betting is great when you spot discrepancies in odds between sportsbooks.
Tips:
- Arbitrage opportunities don’t last long, so you need to act quickly.
- You’ll need accounts with multiple sportsbooks to take advantage of this strategy.
Comparison of the Different Types of Sports Bets
| Bet Type | Description | Example | When to Use | Tips |
| Moneyline Bet | Simple win/lose bet | Bet $100 on Team A to win at -150 | When confident about the winner | Avoid heavy favorites for low payouts |
| Point Spread | Betting on the margin of victory | Bet on Team A -7.5 | For uneven matchups | Watch for last-minute spread changes |
| Over/Under | Betting on the total combined score | Bet over 210.5 in basketball | When unsure about winner, confident in score | Consider weather, injuries, play style |
| Parlay | Multiple bets combined into one | Bet on three teams to win | For higher payouts on multiple outcomes | Don’t add too many legs |
| Prop Bet | Bets on specific game events or player performances | Bet on Player X to score first | For casual games or specific player knowledge | Player props are easier to predict |
| Teaser | Adjusting the spread or totals in your favor | Tease Team A from -7.5 to -3.5 | For reducing risk on multiple bets | Keep teasers to two or three legs |
| Round Robin | Combines parlays into smaller combinations | Bet on three teams in a round robin | When betting on multiple games | Provides cushion if one leg loses |
| Matched Betting | Using free bets and offers to guarantee profit | Bet with a $50 free bet | When sportsbooks offer promotions | Track offers across multiple books |
| Progressive Betting | Adjusting bet size based on previous outcomes | Increase bet after a win | When on a winning streak | Set limits to avoid chasing losses |
| Unit Betting | Consistent betting with a fixed percentage of bankroll | Bet $10 per game with a $100 bankroll | For consistent bankroll management | Stick to your unit size |
| Handicap Betting | Adjusting odds by giving a team a theoretical advantage | Bet on Team A -1.5 in soccer | For balancing uneven matchups | Watch team performance against stronger opponents |
| Vig (Juice) | The sportsbook’s cut built into odds | Odds of -110 on both sides of a spread | When placing any bet | Shop around for better odds |
| Puck Line | Point spread for hockey | Bet on Team A -1.5 goals | For hockey games with close matchups | Consider team scoring history |
| Push | Game ends exactly on the spread or total | Bet on a 7-point spread, game ends with a 7-point win | It happens—nothing you can plan for | Look for spreads with half-points |
| Arbitrage Betting | Guaranteed profit by betting on all outcomes | Bet on both teams with different odds | When odds differ across sportsbooks | Act quickly on arbitrage opportunities |
How to Choose the Right Type of Bet?
Choosing the right bet type depends on three factors:
- Your game knowledge
- Your confidence in predictions
- Your risk tolerance
Here’s a simple guide to finding the best type of bet:
1. If You Want Simplicity: Moneyline Bet
- Best for: Beginners or when you are sure of who will win.
- Why Choose It: A moneyline bet is the easiest to understand. You’re just picking the winner; no extra math is required.
- Example: Bet $50 on Team A to win outright.
2. If You Want More Strategy: Point Spread Betting
- Best for: When teams are unevenly matched, but you want a fair bet.
- Why Choose It: Point spreads level the playing field. They add or subtract points from the final score. This makes it more strategic.
- Example: Bet on Team A to win by over 7.5 points. Or, bet on Team B to lose by under 7 points.
3. If You Can’t Decide the Winner: Over/Under (Totals)
- Best for: When you’re unsure of the winner but can predict the game’s score.
- Why Choose It: Over/under betting is based on the total points scored by both teams. You don’t have to worry about who wins.
- Example: Bet that the score will exceed 210.5 in a basketball game.
4. If You Prefer High Risk/High Reward: Parlay Bet
- Best for: When you’re confident about several outcomes.
- Why Choose It: Parlays combine bets for a bigger payout. But, all bets must win.
- Example: Bet on three teams to win. If they all win, you win big!
5. If You Want Something Fun and Specific: Prop Bets
- Best for: Casual games where you bet on more than just the score.
- Why Choose It: Prop bets let you wager on specific events, like who scores first or the number of home runs.
- Example: Bet on Player X to score the first goal.
6. If You Want to Reduce Risk: Teaser Bet
- Best for: When you like multiple outcomes but want to make the odds easier in your favor.
- Why Choose It: Teasers let you change the point spread or totals. This reduces risk but also lowers payout.
- Example: Change a spread from -7.5 to -3.5. This boosts your chances of winning.
