Oct 23rd 2019
There are numerous inquiries heard at the offices of Win60Percent by those who are new to sports betting, however, the most asked question among prospective clients is what are the different types of wagers available and which one should I bet on with your picks. As people in the gaming industry will agree this is not an unproblematic, simplex solution as there are many variants that will go into affecting the most advantageous wager type. In a panoramic sense, there's no one type of wager that is “better” than any other. It depends on the individual who’s placing the wager, the sport they’re betting on, and the circumstances. Every type of wager has its deservingness in each situation.
Below, we’ve supplied an easy-to-understand explanation for each of the main types of wagers, along with some examples.
Point Spread (Straight Wager)
This is the most standardized form of betting on football and basketball. When you bet the point spread, it is an exemplary -110 odds and there are points to either take or lay (depending on if you select the favorite or underdog).
Betting Over / Under / Totals
Another popular wager is the over/under, otherwise known as betting on the total. Like the point spread, typically has a -110 line, although now and again you might uncover a more favorable line. With the over/under, also referred to as the totals, you are wagering on the combined score of the game.
If you bet the over, you need both teams to combine to score more points than the listed totals. If you bet the under, you need the teams to combine to score fewer points than the total. For example, if the over/under in the Chicago-Dallas NBA game is 222.5 and you bet the over, if those two teams don’t combine to score at least 223 points, you lose.
Please note that half point is often added to the over/under or point spread to prevent pushes. In the event the total score is a push, you get your bet back but don’t receive any profits.
Other Types of Bets
There are many other ways to get action on a game besides the point spread and betting the totals. You can also place these types of bets on most games.
This is an entertaining form of wagering, usually on something cockamamy or non-standard. For example, on Super Bowl Sunday, you’ll find thousands of different bets such as how long will the national anthem will last. But besides on these big events, prop betting is not popular during regular season betting and is rarely seen on a "normal" betting day in a sportsbook, unless specifically requested to the oddsmaker.
When you bet on the moneyline, you’re betting on a team to win the game outright, as opposing to covering the spread. These can be profitable if you are good at predicting underdogs that can win outright, as you will be getting plus value on these teams. When you’re betting the moneyline on a heavy favorite, you won’t get favorable odds as you might have to risk $500 or more just to win $100.
An example of this is:
Brooklyn Nets Vs Boston Celtics . The spread is -10 and the Celtics are -500 on moneyline, and the Nets are +10 and have a moneyline value of +450. This means for every $100 you bet on the Nets on the moneyline at +400, you will make $400 profit (total payout $500). On the other hand, if you bet the Celtics for $500, you will net $100 profit ($600 total payout).
Betting on futures is known as a long-term investment. This type of bet is obviousas you are simply betting on a future outcome such as which team will win the league title. In addition a popular futures betting market before any professional season is how many regular season games a certain team will win. For example, at the beginning of the NFL season, the Kansas City Chiefs had an over/under total of 9.5 team wins. This means if you were to make a sutures bet on the Chiefs under the total wins, if the Chiefs won 10 or more games you would lose.
Another example of futures betting is making a bet at the beginning season at Chiefs at 10/1 odds to win the superbowl for $200. In this case if the Chiefs won the superbowl, you will make $2000 on this ticket.
Betting on Parlays
It’s never easy to win a parlay, which is why the odds are so enticing and potentially profitable. Parlays require you to win multiple bets to receive a payout. They range from 2 to 20 teams/games, and you have to win them all to win the bet. The more teams/games you choose for your parlay, the more you can win.
Let’s take a look at a standard four-team football parlay card example, assuming 12-1 odds and a $100 bet (to payout $1,200).
Dallas Cowboys +2.5
Miami Dolphins -3.5
St. Louis Rams +5.5
New England Patriots/Pittsburgh Steelers OVER 43.5
If all four of those instances don’t win, we lose. It’s as simple as that. If you win 3 of the 4, you still lose. If you win 0 of the 4, you need to call Win60Percent for handicapping advice.
Each sportsbook is different, but here’s a look at the standard football parlay odds up to eight teams.
2 teams 13/5
3 teams 6/1
4 teams 10/1
5 teams 20/1
6 teams 40/1
7 teams 75/1
8 teams 150/1
Betting on Teasers
Teasers are related to parlays, however, with these types of wagers you get a certain amount of points added to each game you bet. Teasers payout less than standard parlays because they are easier to win. Most sportsbooks offer 6, 6.5, and 7-point teasers. Like a parlay, you must win every bet to win the teaser. In a teaser bet, you’re moving the point spread in each game to a more favorable line.
Example: Betting Teaser
Pittsburgh +6.5 - a 6 point teaser would make this Pittsburgh +12.5
Pittsburgh +6.5 - a 6.5 point teaser would make this Pittsburgh +13
Pittsburgh +6.5 - a 7 point teaser would make this Pittsburgh +13.5
An example is a 4 team teaser of 7 points will usually pay about 2/1 odds, where as a 4 team parlay on those same teams is 10/1 odds (as high as up 13/1 in certain sportsbooks).
Betting on Pleasers
Pleasers are the inverse of a teaser and thus are much more challenging to win, but payouts are much more. Instead of getting points, you lose points, meaning if a team is a 6.5-point favorite, the line jumps to -12.5 in a six-point pleaser. See the following chart of standard odds on a six-point pleaser, assuming a $100 bet.
Example: Standard Odds on a 6-point Pleaser Bet
Number of Teams Odds Payouts
2 7/1 $700
3 18/1 $1,800
4 46/1 $4,600
5 121/1 $12,100
6 301/1 $30,100
Reverse and “If” Bets
These bets are available at most sportsbooks but they aren’t popular because they can be a bit confusing. Still, you can make some money if you understand how to play them correctly. A reverse bet is a series of two “if” bets. You bet on two teams but only lose the full amount of the wager if both teams lose, part of the wager if one team loses, and receive a full payout if both teams win.
An example of this would be betting $100 on Miami Heat +5 and then $50 on Dallas -5 in the late game. So IF Miami Heat cover the 5 point spread, THEN you will take $50 of your winnings and bet Dallas Mavs -5 in the 10pm game.
Full Cover Bets
A full cover bet is a bet that includes all possible multiple bets, including doubles, trebles and accumulators, for a given number of selections. There are various types of bets within a full cover bet. You don’t need every selection to win, but the more games you win, the higher the payout.
A handicap bet is a form of wager that tries to level the playing field, much like in golf. In handicap betting, the odds account for the deviation in detected strength of each opponent.
An example of this is betting Tiger Woods vs Phil Mickelson in Round 4 of the Masters. In this bet, Tiger Woods has a minus handicap of 3 strokes, meaning if he does not beat Phil by at least 4 strokes or more in this round, you will lose. The handicap is basically a "point spread" to make it an even playing field.
Now that you know the different types of bets, you’re ready to take the plunge and start winning some money! All you need now is the PROFESSIONAL HANDICAPPING PICKS from Win60Percent.Com to help you correctly predict the winners! You can signup today and try us for only $24.99 a week and get access to all of our picks sent directly to your phone!