Tuesday, January 23rd, 2018

Types of Sports Bets

Sports books and bookmakers offer multiple bets for any given sporting event: point spread bets, money line bets, proposition bets, over/under bets, parlays, and teasers.

Point Spread Bets

The point spread, or simply the spread, is usually included in the betting information for basketball and football. The point spread gives extra points to the underdog when you bet. When you make a wager on a favorite team, that team must not only win, it must win by more points than the spread. Betting on the underdog is twofold: your bet wins if the underdog wins outright, or if the underdog loses by fewer points allotted by the spread.

Here’s an example: Let’s say the Clippers are playing the Knicks, and there’s an 11-point spread on the Knicks. If you make a bet on the Clippers, they can lose by 10 points and you’d still win your bet! If the Knicks win by 12 points or more, it’s known as “covering the spread” and those with wagers on the Knicks win instead.

Betting on a point-spread game requires that you lay odds, betting 11 to win 10. The line will let you know what the spread is, by listing something along the lines of “Dallas -17.” This means Dallas is the favored team, and must win by more than 17 points. With a line like this, you’ll have to bet $11 to win $10 in profit. Though the spread may change between the time you make you bet and the start of the game, your bet is locked in at the point spread you wagered on. An example of this is the 1995 Super Bowl. Many people bet on San Francisco -17, when the final line was San Francisco -19.

The 1995 Super Bowl is an example of how betting can make watching a game much more exciting. With only a few seconds left in the game, many bettors were on the edge of their seats wondering if the Chargers would score. The 49ers had a 23-point lead and had the game won, but if the Chargers had made a touchdown the 49ers would not have enough points to cover the spread. The Chargers may not have scored in those final moments, but the anticipation made the game extremely exciting.

Money Line Bets

The line requires that people bet more to win less when betting on the favored team, called giving or laying odds. For example, if you give 8 to 5 odds, you’d bet $8 to win a total of $13, or your original bet plus $5 in winnings. That doesn’t mean you have to bet $8, though. You can bet up to whatever limit the sports book sets; just keep in mind you’ll be paid out at 8 to 5 odds if you win.

On the other end, when you bet on the opposing team instead of the favored team, you’re taking odds. This allows you to bet $5 to win $7. If you won $8 with a $5 bet, the house would have no edge, losing money rather than making any. This means you win a $5 bet, you’ll get $12 back—your original bet plus $7 in winnings. The line attempts to persuade you to bet on the opposing team by offering the potential of winning more money. This possible profit is offset by the bigger risk you take betting against the favored team. That larger risk may just win you more money!

Proposition Bets

A prop bet is a bet offered by the Sports Book on a very specific outcome and odds of its choosing. Examples of prop bets include things like, which baseball player will hit the first homerun, which NASCAR driver will wreck his car first, or which football player will score the first touchdown.

Sports Betting at 5dimes.com

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