Sports betting is unrivaled in terms of excitement. Emotions change in lockstep with the athletes’ on-field performance. The adrenaline surges, the optimism soars, and the joy of success is overwhelming. It’s really no surprise that as more states legalize sports betting, it’s getting more popular.
The principles of winning and losing are simple to grasp for those fresh to sports betting. On the other side, the different types of bets can be intimidating. Understanding all of the various types of bets not only broadens your wagering options but also improves your chances to win because then you’ll know which bet to place at when time. At sports betting sites like fun88, there is a sort of sports bet for every bettor and situation. Let’s go over the most common so you’re ready the next time you want to place a bet.
- Moneyline
Moneyline betting, often known as a straight bet, is the most basic of sports wagers: You’re wagering on one team to win a competition. Understanding the plus/minus structure, which indicates how much you may win on the underdog with a $70 wager and how much you must play on the favorite to earn $70, is crucial. Moneylines are simple bets to place once you understand how to read betting odds, and they’re best employed when a bettor has a strong belief in an underdog pulling off an upset.
- Point Spread
Sportsbooks use point-spread betting odds frequently, but they can be hard to understand for newbies. They’re presented in a plus/minus format, just like money lines, except instead of dollars, the numbers signify how many points one side is favored to win by. Point spread bets are also referred to as handicap bets since the favored must overcome a point handicap. Unlike money line betting, a bettor’s winnings are contingent on the final score beating the spread. Given that these bets often payout in money line format of roughly -110, the amount the bettor earns is different from the spread.
- Prop Bets
Prop bets are entertaining wagers that don’t always involve true game knowledge and don’t rely on the game’s final outcome. It provides a simple way for new bettors to get their feet wet in the betting pool. They payout in a money line system, which means that the more likely events are expressed in negative numbers, while the less likely occurrences are expressed in positive numbers. Just keep in mind that because prop bets are so heavily dependent on luck, you’re unlikely to profit from them, and sportsbooks usually cap prop bets to reduce their total payout responsibility if a longshot pays out.
If you want to go into online betting, you must be able to understand and interpret all forms of odds. You’ll need to know how to convert between different odds formats, how to convert odds into implied probabilities, and how to determine the difference between the true chances of a result and the odds on display. Only then can you make an informed wager.