When you go to casinos and sports betting sites like casino Vulkan Vegas, you will be surprised that the are many types of bets you can wager. Most people choose a straightforward bet where they simply choose a winner.
However, sports betting is more than that. Today, we will share with you the most common ones so you can start spicing up your wagers!
1. Money Line
The money line is a straightforward bet where you predict a winner. If your prediction is correct, you win. Money line bets only happen before the game commences.
In the money line, you will see a positive (+) and a negative (-) sign. A plus sign beside the team or player’s name means that it is the underdog, and a negative sign means that it is the favorite.
Here is an example:
- San Antonio Spurs: +150
- LA Lakers: -150
It means that you must bet $100 on Spurs to win $150. If you did, your total payout is $250 ($100 on the original wager and $150 for your prize).
On the other hand, you must bet $150 on Lakers to win $100. The total payout is $250 ($150 on your bet and $100 for the prize).
Why is it like this? It is because the sportsbook company thinks that the Lakers are likely to win. Because of that, they will charge more money to wager on Lakers but then give a lower prize than your stake.
The sportsbook company also believes that the Spurs are not likely to win. As such, they are willing to risk a higher prize.
2. Point Spread
The point spread odds happen when the game is seriously tilted to one side or when one is heavily favored. The point spread makes the wager balanced.
For example, you will see a point spread like this:
- San Antonio Spurs: +8.0
- LA Lakers: -8.0
What it means is that once the game is over, the winner for the bet, not the score, is determined by the margins from the original score.
In this case, the Lakers, being the favorite, means that they should win the game by at least eight points. Conversely, the Spurs must win the game outright or not lose the game by eight points.
Let us say that the final score after the game is:
- San Antonio Spurs: 110
- LA Lakers: 125
Since the Lakers won by 15 points, those who wagered on Lakers also won because 15 points are greater than eight.
Now, let us say that the sore is:
- San Antonio Spurs: 110
- LA Lakers: 111
Although the Lakers won the game, people lost this bet because the Lakers did not win by more than eight points. They only won by one point.
3. Over/Under of Totals
Another popular bet is the Over/Under or O/U. In this bet, you are guessing a value that is over or under the total score.
Let us say that the sportsbook said total points of 220 for both Lakers and Spurs. Below is the final score of the game.
- San Antonio Spurs: 110
- LA Lakers: 111
If summed, the total of these two teams’ scores is 221, which is higher than 220. Those who wagered in “over” win the bet.
4. Future Bet
A future bet is a kind of bet where you predict the outcome of a sporting event. For example, you can predict who the MVP will be or who will be the champion or the total number of wins.
A bet like this is simplistic, and it is only for fun. Most of the wagers or odds in this kind of bet do not pay that much.
5. Live Betting
There is no single type of live betting. It all depends on the sportsbook. In a live bet, you are wagering on something that you think is likely to happen after the game has started.
For example, let us say that there is a boxing match between Fury and Wilder. In the third round, the sportsbook company said there is a live bet of whether or not Fury will knockdown Wilder before the end of round 5.
So, you place your bets, and if Fury knocked down (not out) Wilder before the end of round 5, you win. If he didn’t, but you wagered that he would, you lose.
There are many types of live bets. Another example is the result of the next possession. For example, the teams are on a timeout in basketball. During this period, the sportsbook company may open a live bet.
Once the game starts, you know that Spurs are in possession. If the bet is about dropping points by the Spurs, ten you can wager for that or against that. Let us say you wagered for it. If the Spurs dropped points during that ball possession, you win your bet.
Summary
Sports betting is fun, and as technology improves, we can also expect more ways to enjoy different types of bets. Before you place a wager, make sure that you understand the implications of the bet. Our advice is that you start with the simplest one, as the money line, and then advance to complicated bets later on.