Technology has made sports betting more popular in recent years. You can now place a wager online at your favorite sports book or on your mobile phone. All this from the comfort of your home. It’s never been easier to place a bet on sports than it has ever been.
Bettors who are passionate about betting on sports can have a lot of fun, and they also make money. It is important to learn the basics of sports betting before you start betting.
This article will explain the 8 most common terms and definitions used when betting on sports.
1. Straight Bets
Straight bets are the most popular bet. You only need to wager on one side to win a straight bet. Straight bets can either be placed using the point spread, the money line, or the total to win or under. The sport you are betting on will determine the format of your line.
Parlay refers to a wager that involves two or more live casino events (events), in which all of the teams must win. It is more difficult to predict multiple events than for one event. Therefore, the payout odds increase as more events are added.
Teasers are a type of sports betting parlay that adjusts the total or point spread for each play. Additional points can be added to or subtracted from the favorite. Teasing is a way to increase the odds of winning the teaser bets.
A prop is a wager that the sportsbook offers on a specific topic. These bets can be placed on sports, politics, or even trial outcomes. These wagers are made using the money line format of payoff odds. They could include who scores the first touchdown at the Super Bowl, who wins the next presidential election, and whether O. J. will face trial.
Futures odds in sports betting are posted ahead of time on who will win at which major tournaments or events. As the season progresses, or tournaments end, the odds will change and will vary depending on each team’s performance. The odds that you placed your wager at will still apply.
6. Total (over/under).
A total bet is a wager on the total number of runs, goals, or points scored by each team during the game. This includes overtime. The Over is a type of sports betting in which the bettor predicts that two teams will score more points than the total. You can also bet under. In sports betting, an under bet is one in which the bettor predicts that two teams will score less than a specified number.
7. Point Spread
This is the expected scoring differential between two teams in sports betting. It is quoted by a book. The oddsmakers set a “line” for each game. The odds makers will assign a number to each game. For favorites, a number will be followed by a sign. For underdogs, a number will be followed by a number. Here is an example of a NFL line:
Chicago + 7
Baltimore is the favorite. They must win by at least 8 points to win. If they win by 7 points or more, it is considered a tie. You get your money back if the game ends in a push or tie. If Baltimore wins the game by six points or less or loses, those who bet on Chicago win the money.
A lot of the time, you will see a half point. Baltimore is -7 1/2. This eliminates “pushes”, since a team cannot score half a point.
Sometimes, you might see spreads that are “Pick” and “PK”. This means that the line is zero and there are no points in effect…just choose the winner. Point spread betting can be made in either straight or parlay.
8. Money Lines
They are money odds in sports betting. Money odds are where you can lay a dollar to win 100 dollars. If there’s a minus (-), you have to wager that amount. Where there’s a plus (+), you get that amount for every $100 wagered. The plus sign is for underdogs, while the minus sign represents favorites.