Different Betting Types to Help You Understand the Industry 

Sports betting has become much more popular than ever before. In part, we have online bookies to thank for that. Due to the accessibility they provide, a lot of people who previously had no interest in betting have now become deeply engrossed in the industry.

However, that also means that there are plenty of newbies who use sportsbooks. While that is great, it also leads to a lot of confusion when placing a bet online. That is why, in this article, we are going to explain the different betting types that are available on popular bookies. 

Moneyline Odds

The most important thing to understand are the odds. There are three main ways to create odds. In this article, we are focusing on moneyline odds, which are the ones most popular in the United States of America. So, what are moneyline odds, and how do they work? 

Well, while it may seem complicated at first, it is actually very simple. Bookies represent moneyline odds with positive and negative numbers. The positive number represents the underdog, and shows how much money you can win with a $100 bet.

On the other hand, the negative number represents the favorite, and shows how much money you need to wager in order to win $100. The best way to explain it is by giving an example, so let us take a look:

• Team A: +300
• Team B: -300

You can see that Team B is the favorite here. If you bet $300 on Team B, and they win, you will win $100, which totals to $400. On the other hand, Team A is the underdog. If you wager $100 on team A, and they happen to beat the odds, you will win $400.

Point Spreads

Point spreads are another incredibly popular option. They mostly work in team-based sports like soccer, football, basketball, baseball, etc. The reason point spreads exist is to help “even the playing field.” When two teams of vastly different skill levels go against each other, point spreads serve to make up for that difference. So, let us see how they work.

When creating odds for two teams of vastly different skill levels, oddsmakers assign a negative point and a positive point spread to both teams. The favorite is assigned negative points, while the underdog gets the positive. But, what do the numbers mean?

• Negative Spread: The negative number shows the difference in points, by which the oddsmaker expects the favorite to win. For example, if a team has been assigned -4,5 points, you need to bet that they will win by 5 or more in order for your wager to be successful.

• Positive Spread: The positive number shows the difference in points by which the underdog is allowed to lose and still get a winning bet. For example, if the point spread is +5, and the team loses by 6, the bet is lost. 

Point spread bets are a bit more complex than basic moneyline bets. However, for those who understand them, they can be quite fun and engaging.