The world of sports betting is a paradox of simplicity and complexity. The process of betting is simple and straightforward, yet the concepts behind how odds and values are determined are things that need to be studied and understood. Like the many sports that can be wagered on, the selections of different types of sports bets are also many. If you are someone who is new to physical, land-based sports betting establishments and online sports betting apps, you can choose from several types of sports bets available, which we will also be exploring as we go along.
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Moneyline Wager/Win Bet
The former term is more commonly used in the United States and other regions, while the latter is a universally recognized type of betting. Both are essentially the same, and they differ only by the name that they are called. A win bet is the simplest form of wager that you can make on a certain sport. The reason why it is widely recognized is that it is easy to understand and play. You just need to bet on who will win in a game, match or other competition. Even if you are not a regular visitor of land-based bookmakers, a betting app can be a useful resource for knowing how to play different sports betting types, especially win bets. This is because the computer or mobile apps are interactive and are providing visually attractive representation of the game mechanics and instructions, which helps further improve the comfort and convenience in betting for app users. The user-friendly interface of these apps helps users to easily understand how the betting works.
Straight/Point Spread Bet
Another popular and universally known sports bet type is the point spread wager or commonly known in the US as a straight bet. American football and basketball, commonly use this type of betting type, but it can be used for other types of games as well. The concept works by betting on the participant or team that will cover the «spread». When the betting line is set, the favorite participant or team is «deducted» points (signified by a minus sign) while the underdog is «given» points (signified by a plus sign), which are the given spreads. If you bet on the favorite, the team should win by more than the set point spread in order to win the bet; otherwise, you lose the bet if the favorite loses the game or wins with a lead less than the spread. If you bet on the underdog, your bet wins if the underdog team wins the game or loses the game by a deficit of less than the spread; if the underdog lost the game with a deficit greater than the spread, you lose the bet. If the team you bet on just manages to get the exact spread or ties the spread it is known as a push, and no money is lost or won.
Total Line Bet
Another popular type of bet is betting on the total line. This is also a relatively easy and straightforward betting type and it follows roughly the same concept as the point spread bet. The difference is instead of betting on the point spread of the favorite or the underdog, your bet is on a set number for the combined final score of both teams. For example, in basketball, the bookmaker will set the line for the total number of points to be scored at 200. Thus, you can bet on the total combined scores of the two teams to remain «under» the set number or «over» it. It can also be applied for halftime score game points, so you can bet twice for the total lines in a single game.
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We covered the most popular types of sports bets so far. There are still other types of sports bets that may not be that known, but offer a good set of odds and betting lines. Understanding the concepts and rules of a sports bet type can help you make better betting decisions and weigh your options more clearly. You’ll also come to appreciate the relatively simple concepts behind the betting types and you develop a sense of passion for sports betting.