This is a beginner-friendly guide for new bettors who want to learn about the most common bet types in sports wagering. I will explain each in simple language and offer examples so you’ll feel more comfortable knowing what you are doing before placing your bets.

Moneyline Bets

A moneyline bet is the most straightforward type of wager—you’re simply picking which team or player will win the game or match.

  • How It Works: If you bet on the favorite (the team expected to win), you usually risk more money than you stand to win (negative odds). If you bet on the underdog (the team expected to lose), you risk less and can potentially win more (positive odds).

  • Example:

    • Team A: –150 (Favorite) - If you bet $150 on Team A and they win, you profit $100 (plus get your $150 stake back)

    • Team B: +130 (Underdog) - If you bet $100 on Team B and they win, you profit $130 (plus get your $100 stake back).

Why Bet the Moneyline?

  • It’s the simplest way to bet on sports. You only have to decide who you think will win.

Point Spread Bets (Spreads)

A point spread is used to level the playing field between two unevenly matched teams. One team is given points (the underdog), and the other is docked points (the favorite).

  • How It Works: The favorite must win by more than the set number of points. The underdog can lose by fewer than that number, or win outright, and still “cover” the spread.

  • Example:

    • Los Angeles Lakers: –5.5 - If you bet on the Lakers (the favorite), they must win by at least 6 points for your bet to cash.

    • Boston Celtics: +5.5 - If you bet on the Celtics, they can lose by up to 5 points or win the game outright for your bet to win.

Why Bet Point Spreads?

  • Spreads are especially popular in higher-scoring sports like basketball and football. They add a layer of excitement by focusing on the margin of victory or defeat rather than just who wins.

Totals (Over/Under)

A total (often called an “over/under”) is a bet on how many points, runs, or goals will be scored by both teams combined in a game.

  • How It Works: The sportsbook sets a number. You can bet on whether the actual total will be higher (over) or lower (under) than that number.

  • Example: If the over/under for a football game is set at 47.5, and the final score of the game is 27–21 (total 48), the over wins. If it’s 24–20 (total 44), the under wins.

Why Bet on Totals?

  • It’s fun when you don’t want to pick a particular winner. You just root for points (taking the over) or for defense (taking the under).

Parlays

A parlay combines multiple individual bets (called “legs”) into one wager. To win a parlay, all of the individual bets included must win.

  • How It Works: If any single bet in the parlay loses, the entire parlay loses. But if all the legs win, the payout can be much larger than if you had placed each bet separately.

  • Example: A three-team parlay might include:

    1. Lakers –5 (must cover the spread)

    2. Yankees moneyline (must win outright)

    3. Packers over 47.5 (game total must go over 47.5)

      If all three come through, you get a big payout. If just one fails, you win nothing.

Why Bet on Parlays?

  • Parlays offer the chance for a higher return from a small stake, but they’re riskier because every leg must be correct.

Teasers

A teaser is a type of parlay that specifically involves point spread or total bets, where you move (or “tease”) the line in your favor in exchange for a lower payout.

  • How It Works: In football, common teaser options are 6, 6.5, or 7 points. You choose at least two teams or totals, and then you add or subtract that same number of points from each line.

  • Example: You like two NFL favorites:

    • Packers –6.5

    • Chiefs –7

      If you do a 6-point teaser, the adjusted lines become:

    • Packers –0.5 (almost pick-em)

    • Chiefs –1

      Both teams still must cover these teased lines. The payout is less than a standard parlay because you’re giving yourself a better chance to win.

Why Bet on Teasers?

  • Teasers let you reduce risk on spreads or totals, which can be appealing in sports like football, where every point matters.

Prop Bets (Proposition Bets)

A prop bet focuses on specific events or outcomes within a game that may not directly relate to the final score.

  • How It Works: Sportsbooks offer wagers on things like how many points a specific player will score, who will score first, or how many yards a quarterback will throw for.

  • Examples:

    • “Will LeBron James score over/under 28.5 points?”

    • “Which player will score the first touchdown?”

    • “How many strikeouts will a pitcher record?”

Why Bet on Props?

  • Prop bets can be entertaining because they allow you to focus on individual performances or quirky game scenarios, adding variety beyond just picking a side or total.

Futures

A futures bet is placed on an outcome that will be decided later in a season or tournament, often weeks or months in advance.

  • How It Works: You might bet on which team will win the Super Bowl or World Series at the start of (or during) the season. Odds are typically higher if you place the bet well before the championship game is set.

  • Examples:

    • “Which team will win next year’s NBA Championship?”

    • “Who will be the NFL MVP this season?”

Why Bet on Futures?

  • Futures can offer big payouts if you correctly predict a champion or award winner long before it’s decided. They also keep you engaged with a season for months.

Putting It All Together

  • Moneyline: Just pick the winner (simple approach).

  • Spread: Bet on the margin of victory/defeat (common in football and basketball).

  • Totals (Over/Under): Bet on the combined score of both teams.

  • Parlays: Combine multiple bets for a bigger payout (riskier, all must win).

  • Teasers: Adjust the spread/total in your favor in a multi-bet format, for a reduced payout.

  • Props: Bet on individual performances or game events.

  • Futures: Bet on long-term outcomes (e.g., season winners).

Conclusion

Understanding these bet types helps you pick the wagering style that fits your goals and risk tolerance. Beginners often start with moneylines or spreads. As you gain experience, you might explore totals, props, or even parlays and teasers for bigger potential returns. If you enjoy making predictions far ahead, futures can make a whole season more interesting.

Remember, no matter which bet type you choose, always manage your bankroll responsibly and avoid wagering more than you can afford to lose. Sports betting should be fun, and a solid grasp of these bet types is the first step to making your betting experience both enjoyable and informed.