The Top 5 Types of Sports Bets Explained
Sports betting can seem overwhelming to beginners, especially with so many different types of wagers to choose from. However, understanding the most common types of sports bets can make the process much simpler. In this article, we’ll break down the top five types of sports bets, so you can bet with confidence and maximize your chances of success.
Table of Contents
Toggle1. Moneyline Bets
The simplest and most popular type of sports bet is the moneyline bet. In this wager, you’re simply betting on which team or individual will win the game or event. It’s straightforward because there are no points or handicaps to consider—just pick the winner.
In moneyline bets, the odds are expressed in positive or negative numbers. A negative number (-) indicates the favorite, while a positive number (+) indicates the underdog. For example, if Team A is listed at -150, you’d need to bet $150 to win $100. If Team B is +200, a $100 bet would win you $200.
If you’re still wondering how sports betting works, a detailed explanation of the basics can be extremely helpful to get you started.
2. Point Spread Bets
Another popular option is point spread betting. Unlike moneyline bets, point spread betting involves wagering on the margin of victory. The favorite must win by a certain number of points (the spread), while the underdog can win outright or lose by fewer points than the spread.
For example, if the spread is -6.5 for Team A, they must win by 7 or more points to cover the spread. If Team B’s spread is +6.5, they can win outright or lose by fewer than 7 points for you to win the bet.
Point spreads are often used in high-scoring sports such as basketball and football. This type of bet offers a balanced approach and keeps even a seemingly one-sided game interesting.
3. Over/Under (Totals) Bets
Over/Under bets, also known as totals, are focused on the total number of points scored in a game by both teams combined. Bettors don’t have to worry about which team wins; instead, they wager on whether the total score will be over or under a specified number set by the bookmaker.
For example, if the total is set at 45.5 points in a football game, you would bet on whether the teams will combine for more than 45 points (over) or fewer than 45 points (under).
This bet is especially appealing to those who don’t want to focus on individual team performance, but rather how the game as a whole will play out. For more insight into smart betting strategies, it’s worth learning whether sports betting is a good way to make money from this article.
4. Parlay Bets
A parlay bet allows you to combine multiple bets into one wager, increasing both the potential payout and the risk. To win a parlay, all of your individual bets (known as legs) must win. If even one bet loses, the entire parlay is a loss.
For example, you could combine a moneyline bet on Team A, a point spread bet on Team B, and an over/under bet on Game C. If all three bets win, you’ll get a higher payout than if you placed each bet individually. However, the risk is higher since all outcomes must occur for you to win.
If you’re wondering how to win a parlay bet, the risk is certainly high, but there are great tools and strategies you can use to increase your chances.
5. Prop Bets
Short for proposition bets, prop bets are wagers on specific outcomes within a game that don’t necessarily relate to the final result. These can range from predicting which player will score the first touchdown in a football game to how many rebounds a basketball player will get.
Prop bets are fun and can offer great value because they focus on niche aspects of the game, often allowing sharp bettors to find weak odds. They’re particularly popular in major events like the Super Bowl, where you can even bet on non-sporting elements, such as the length of the national anthem or the result of the coin toss.
For those interested in niche betting, horse racing offers exciting prop bets too, like the box bet and show bet options. Learn more about them in this guide to different horse racing betting styles.
Bonus Bet Type: Futures Bets
While the five main bet types above cover most sports wagers, another fun option is futures bets. These bets are placed on events that will happen in the future, such as predicting which team will win the Super Bowl or which player will win the MVP award.
Futures bets usually come with higher odds, as they’re harder to predict. However, they can be a fun way to stay engaged in a season-long competition.
Conclusion: Choosing the Right Bet for You
When it comes to sports betting, knowing the different types of bets is key to developing a strategy that works for you. Whether you prefer the simplicity of moneyline bets or the excitement of parlays, each type of wager offers something unique. It’s important to remember that while sports betting can be a great way to make watching your favorite games even more thrilling, it should always be done responsibly.
If you’re new to the world of sports betting and want to make sure you’re using the right tools, check out some of the best sports betting analytics tools to help you make smarter decisions.
FREQUENTLY ASKED QUESTIONS
The Betting Stage® is our program that helps players build better skills, discipline, and habits as they are evaluated for sports bet funding. Achieve the objectives in the Betting Stage® to earn the Player Funded Account™.
The following is an overview of the full journey traders can expect with Sports Bet Funding:
The Betting Stage®
Objectives:
Reach and maintain the profit target (30% Phase 1, 25% Phase 2)
Place a minimum of 20 bets
Bet a minimum of 20 days
Rules:
Do not allow your Account Balance to hit or exceed the Maximum Loss Limit
Do not lose more than or equal to 15% of your initial balance in a day.
Do not lose more than or equal to 30% of your initial balance at any point in the challenge.
Player Funded Account™
Objectives:
Reach and maintain the profit target of 25%
Rules:
Do not lose more than or equal to 10% of your initial balance in a day.
Do not lose more than or equal to 20% of your initial balance at any point in the challenge.
As you probably know, becoming a successful sports bettor who consistently takes profits from his bets is no small task. Losing $1,000+ when placing bets is a real thing that happens to players every day. Our mission is to provide a safe experience so that players can professionalize their passion while also limiting your personal risk.
Once you pass both phases, you are guaranteed a Player Funded Account™ with us.
After you earn a Player Funded Account™, we recommend you focus on minimizing your risk and building up your account balance through strategies learned in The Betting Stage®.
Once you have built up your account, we recommend that you start paying yourself and balance payouts while continuing to grow your account. This way, you will be prepared should you experience an unexpected drawdown.
If you are thinking about how to leverage the Betting Stage® and have more questions about membership or the path to earning a Funded Betting account, we encourage you to chat with a Sport Bet Funding Specialist who can help answer any questions you have about the programs.
You can also reach the Player Support Team here.
To learn more about Sports Bet Funding®, check out our Help Center or join Discord.
Choose The Betting Stage® of your choice, i.e. $2.5K Rookie ($250 max wager), $5K Tipster ($500 max wager), $10K Punter ($1,000 max wager), $25K Wagerer ($2,500 max wager), $50K Player ($5,000 max wager), or $100K High Roller ($10,000 max wager).
Click “Buy Now” (Make sure you sign up with your full name exactly as it reads on your government issued identification; do not use a fake name or a nickname; if you qualify for a Player Funded Account™, you must submit government issued identification)
Follow the steps to purchase the The Betting Stage® account and create an account with Sports Bet Funding.
Once payment is complete, your account will be created. Please allow up to 2 hours to receive an email containing your credentials (if account is purchased after 5:00PM ET, please allow until next calendar day @ 11:00AM ET).
A video tutorial is available here
Follow the rules of the betting programs and you will succeed. Break the rules and the account will be terminated.
The Betting Stage®:
- Minimum days betting: 20
- Minimum bets per phase: 20 bets
- Only Straight Bets and Parlays are allowed.
Parlay Rules:
- Max Teams: 2
- Max Odds: +300
- Minium Bet Wager: 5% of initial balance.
- Maximum Bet Wager: 10% of initial balance.
- Maximum Daily Loss: Cannot be greater than or equal to 15% of initial balance.
- Maximum Overall Loss: Cannot be greater than or equal to 30% of initial balance.
- Profit Target To Complete Phase 1: 30% of initial balance (must meet minimum day and bet requirements).
- Profit Target To Complete Phase 2: 25% of initial balance (must meet minimum day and bet requirements).
The Player Funded Account:
- Minimum days betting per 30 days: 20
- Minimum bets per 30 days: 20 bets
- Only Straight Bets and Parlays are allowed.
Parlay Rules:
- Max Teams: 2
- Max Odds: +300
- Minium Bet Wager: 5% of initial balance.
- Maximum Bet Wager: 10% of initial balance.
- Maximum Daily Loss: Cannot be greater than or equal to 10% of initial balance.
- Maximum Overall Loss: Cannot be greater than or equal to 20% of initial balance
Once you qualify for a Player Funded Account™, there are two options available.
The monthly subscription is $85 per month per Player Funded Account™
The one-time fee is $250 per Player Funded Account™
Betting frequency must be carefully considered when deciding between the monthly subscription and the one-time fee. Deliberately placing minimal bets only to count as a betting day or keep a near-depleted account active, is not permissible.
Meet your Profit Target while Managing Risk (do not let your account meet either of the max losses).
Bet for a minimum of 20 days.
Please note, There is no maximum limit. All 20 days of betting must occur on the same account number that met the target. Multiple account numbers can not be combined, i.e. 10 days with one and 5 days with other.
What happens if I reach my goal in 3 days? Do I have to keep placing bets? (Yes)
If I reset my Betting Stage® account, do previous betting days count? (No)
If I reset my Betting Stage® account, does my previous betting balance count? (No)
What is considered a betting day? When does the clock start ticking on my new account? Days are calendar days – clock ticks the day credentials are emailed out (if received PRIOR to 5:00PM ET)
Consistency Guideline
Potentially hitting a profit target in a short span, could be luck. A day later, one could be unlucky. We want players to learn the ability to manage risk, stick to a betting plan, demonstrate their strategy and measure of consistency. Betting conditions change. You do not need to bet every day. Be wise, selective and patient. Betting Stage® accounts with monthly subscription fees connected to them remain active until you cancel.
I hit my goal early, how should I bet my remaining days?
Sports Bet Funding has made our case for needing to see you demonstrate your skill and bet on 20 individual days. However, we understand the wisdom of risk management if you have reached the required target. It’s acceptable to lower your bet size. This allows you to continue to take your normal bets which demonstrates your usual betting plan and strategy on the remaining days.
Players are permitted to purchase and operate more than one Betting Stage® account at the same time, as long as they are all associated with the same email address. Likewise, players are permitted to operate more than one Player Funded Account™ simultaneously. Multiple Player Funded Account™ will not be combined into one larger account and each require their own small monthly fee of $85 per month or one-time fee of $250 regardless of the size of the account.
WARNING *If a player is discovered to have registered more than one membership and operate more than one email address, that account is subject to termination.
SBF has set a defined limit of three (3) Player Funded Account™ that can be operated concurrently.
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