Types of Bets and Betting Style:
There are many different ways to bet on your favorite sports, so we’ll be breaking down different types of bets and styles of betting for you to better understand how you’re betting and as a tool for you to use!
👉Money line: This is one of the more straight-forward bets. By betting on a team’s money line, you are betting on them to win outright.
👉Point Spread: Another common type of bet, this is betting on a margin rather than outright victory.
The underdog is given extra “phantom” points. An example point spread would look something like this:
• Kansas City Chiefs -8.5 (-115) • Las Vegas Raiders +8.5 (-105)
Here, the Las Vegas Raiders are expected to lose by 8.5 points or so. Oddsmakers give the Raiders 8.5 points to add to their total. In order for the Raiders to ‘cover the spread’ or win that bet, they must win outright or lose by less than 8.5 points. A final score of Chiefs- 27 Raiders- 24 would mean the Raiders would win the bet. With the 8.5 “phantom” points added to the Raiders’ total, they would’ve beaten the Chiefs.
Adversely, the Chiefs would have to beat the Raiders by 8.5 points or more to cover the spread. A final score of Chiefs-31 Raiders-10 would see the Chiefs cover the spread and win.
👉Totals: (O/U): Rather than relying on a team to win, you can predict the total amount of scoring. For example:
Boston Celtics vs. Philadelphia 76ers Over 218.5 (-110) Under 218.5 (-110)
If you bet the over, you are projecting the teams will combine for over 218.5. If the final score was Celtics- 116 76ers- 105, the over would hit (total score being 221).
By betting the under, you’re hoping for the teams to combine for less than what the line is set at. A final score of Celtics- 108 76ers- 99 would see the under hit, as the combined total is 207.
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👉Props: Prop bets (short for proposition bets) are wagers that include individual player performance stats or team performance not affecting the final result. Different player props are available depending on the sport.
👉Futures: Future bets are predicting something that will happen in (wait for it…) the future. The most common example is predicting a team to win their league championship (ex. Philadelphia Eagles to win the Super Bowl, Milwaukee Bucks to win the NBA Finals, etc.)
👉Live Bets: Live bets, sometimes called ‘in-game’ or ‘in-play’ bets, are bets placed while the game is in progress.
👉Straights: An individual wager on a game or event.
👉Parlays: Parlays combine multiple wagers into a single bet, usually to increase the odds and the payout. Every single leg needs to hit in order for it to win. If you build a parlay comprising 4 bets and only three legs hit, the entire parlay is a bust.
👉Ladder: Straight bets of a single prop gradually going up in value For example:
• 1u on Jokic 10+ rebounds
• 0.5u on Jokic 12+ rebounds
• 0.25u on Jokic 14+ rebounds
👉Round Robin (RR): A round robin is a betting strategy that allows you to place multiple parlays/bets on a group of teams, allowing you to combine various combinations of bets into a single wager. The purpose is to increase the chances of winning across various different outcomes. Here’s an example:
If you placed a RR on A, B, C, D, your wagers would look something like this:
• RR by 2s (x2s): AB/AC/AD/BC/BD/CD (6 total bets)
• RR by 3s (x3s: ABC/ABD/ACD/BCD (4 total bets)
👉Bankroll Builders (BB): Bankroll Builders are low-odds plays that have a higher chance of winning, placed in order to increase bankroll.
Lotto/Longshot: Parlays with higher odds, but less likelihood of hitting.
👉Hedge: Reducing the risk of an existing slip to guarantee a win, regardless of the outcome. This happens when you are on the last leg of a slip.
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