Bets Explained
- Betting horses whose odds are worse than fair value is a poor strategy. Parlay – A multi-race bet in which all winnings are subsequently wagered on a succeeding race. Speed Figure – A metric that rates a horse’s performance in a race, which is determined by a combination of the horse’s performance and the level of competition he/she.
- Topics Include: Intro & Main Bets Each Way Betting Straight Betting Exotic Wagers Tote Betting The Each Way Bet & Other Popular Horse Racing Bet Types Explained. In principle, horse racing is a straight-forward start to finish race.
This bet takes all the inside bets and puts them on a specific number. This bet is most common in high-roller casinos. It can be hard to wrap your head around this bet at first. But the idea is to take advantage of the table’s max betting limit using a progressive betting model. We’ll use Wikipedia’s example. NFL Teasers Betting Explained Although a little more advanced than a normal moneyline or spread bet, NFL Teaser Betting is fairly popular at sportsbooks during the NFL season. Teaser bets account for over 15% of sportsbooks handles for NFL betting, and is continuously becoming more popular. If any of your picks in the parlay turn out to be a push, then that bet basically acts as a tie and the payout of your payout will be reduced if you won your other bets. In other words, if you have an 8-team parlay and one of those picks is a push or tie, then you essentially are left with a 7-team parlay.
Although a little more advanced than a normal moneyline or spread bet, NFL Teaser Betting is fairly popular at sportsbooks during the NFL season. Teaser bets account for over 15% of sportsbooks handles for NFL betting, and is continuously becoming more popular.
NFL teaser betting is more common with intermediate or advanced bettors, but it isn’t a hard concept to understand – I will explain how NFL teasers work below.
What is a NFL Teaser Bet?
A teaser bet is a group of straight bets (two or more) combined into one bet, where each individual line has been shifted to your favour by the number of points of the teaser.
There are three main NFL teasers – 6, 6.5 and 7 point teasers.
In a 6 point NFL teaser the line would be shifted by 6 points in the favour of the bettors play. For example if you wanted to take the Ravens -8, it would be converted into Ravens -2 within a teaser bet. The spread was shifted 6 points (from 8 points down to 2 points). Another example would be if you wanted to play the Chiefs -2.5. In a 6 point teaser the -2.5 line would be changed to Chiefs +3.5.
The same rule is applied for 6.5 and 7 point NFL teasers, except, of course, the line is shifted by either 6.5 or 7 points instead of the 6 points shown in the example above. NFL teaser bets must include two or more bets “parlayed” (cannot do single teaser bets).
NFL Teaser Example
Here is what a two team 6.5 point NFL teaser bet would look like:
Your selections: Pittsburgh Steelers +3 and Dallas Cowboys -4.5
In a 6.5 point teaser these would then be changed to: Steelers +9.5 and Cowboys -2
In order for you to win the teaser bet both incomes would have to be correct. If one selection was a push the bet is often refunded, but some sportsbooks will count it as a loss if the other selection lost (check your sportsbooks‘ rules).
Below is another example of a teaser bet that I recently placed and won. I teased the Vikings and Eagles from +2.5 up to +8.5 in a 2 team 6 point teaser.
NFL Teaser Bet Payouts
Every sportsbook will have their own payouts and rules for teaser bets. Our favorite sportsbook for getting the best NFL odds is 5Dimes.eu. Of course the more points you use on the teaser the lower the payout will be, and the more teams you include in the teaser bet the higher the payout will be.
Here are the NFL Teaser Payouts at 5Dimes (subject to change):
6 Point NFL Teaser Bet Payouts
2 Teams – (+100)
3 Teams – (+180)
4 Teams – (+300)
6.5 Point NFL Teaser Bet Payouts
2 Teams – (-110)
3 Teams – (+165)
4 Teams – (+265)
7 Point NFL Teaser Bet Payouts
2 Teams – (-120)
3 Teams – (+150)
4 Teams – (+240)
Of course you can choose more than 4 teams in your NFL teaser bet, I just used these as example payouts so you could get a feel for what the payouts are like on teaser bets. Full payout charts can usually be found at the sportsbooks website.
Now that you know what teasers are check out this advanced Teaser Betting Strategy article written by our professional sports bettor, Jim. In the article you will learn when teasers are +EV and how you can make a profit during the season picking spots to bet teasers.
For those of you looking to learn about the different types of sports bets,
you’ve come to the right place. We’ve developed this page with the goal of
helping sports bettors of all levels gather all of the knowledge that they need
on the subject. By the time you finish checking out our detailed guide on the
different forms of bets, you’ll have a good understanding of what your betting
options are and how they all function.
On this page, our first order of business will be providing you with an
explanation of all of the common types of sports bets. After that, we’ve
compiled an additional sports betting resources section that’s packed with other
quality guides you can use to expand your knowledge on several topics. Finally,
we’ll conclude things with a frequently asked questions section to help you
answer any unanswered questions that you may have.
Common Bet Types
In this section, we’re going to provide you with a high-level overview of the
primary types of sports bets. Along with each explanation, we’ve also included a
link to a detailed page that’s packed with even more information about each bet
type. Using these pages, you’ll be able to dig in more in-depth on the ones
you’re most interested in.
If you’re searching to learn about a single type of betting, you can use the
jump links below to head straight to that section. However, if your goal is to
learn about all kinds of sports bets, be sure to read through each of the
sections below so that you can soak up as much as possible.
Win Bets and Moneyline Bets
Win and moneyline bets are interchangeable. Although said differently, they
both mean the same thing. However, depending on where you reside, it may be
called one thing over the other. In the United States, most folks refer to this
type of bet as a moneyline wager. Around the rest of the globe, the same kind of
wager is called a win bet.
No matter what you call it, this type of bet is the most basic one of them
all. With this type of wager, you’ll simply be selecting who you believe will
win the game or match that you’re betting on.
Here’s a sample for you: if you’re betting on an upcoming NBA game between
the Chicago Bulls and the Miami Heat, you’d need to determine which team you
think will win. If you believe that Miami will come out on top, you will place a
win bet on Miami. If Miami goes on to win the game, you’ll also win your wager!
It’s that simple!
If you’d like to learn more information about moneyline and win bets, we’ve
included a link below to our page dedicated to this type of wager. Just click on
the link below to view our in-depth coverage of this bet type.
Totals and Over/Under Bets
This type of wager also has two interchangeable names associated with it.
Folks in the United States most often refer to this bet type as a total, while
the rest of the globe typically calls it an over/under bet. Once again,
regardless of the name, both refer to the same type of sports bet.
Totals are another very simple wager that can be great for beginners to use
in conjunction with win bets. With a totals bet, the sportsbook will issue a
specified total associated with a sporting event. In many cases, this total is
tied to the number of points scored in the game. When placing this type of
wager, you’ll have to decide if you think the total will actually come in over
or under the number set by the sportsbook.
Let’s look at an example. If we circle back to that same Miami Heat versus
Chicago Bulls game, a sportsbook may set a totals line at 199 points. If you
believe that both teams combined will score more than 199 points in the game,
you will bet the over. Conversely, if you feel like the teams will have a
combined score less than that, you’d bet the under. If you pick correctly,
you’ll win your totals bet.
If you’re new to over/under bets, we’ve developed a page with more detailed
information if you’d like to learn more. Just click below to gain a deeper
understanding of this type of sports bet.
Point Spread and Handicap Betting
Another type of bet that you can place on many sporting events is a point
spread wager. This type of wager is used very commonly in the United States.
Another similar kind of bet is also common in parts of Europe and other places
around the globe. In these places, this type of wager is referred to as handicap
betting.
The core idea behind both of these wager types is the same. It all starts
with a sportsbook determining which team they think is favored to win the match.
Once they have that done, they’ll then assign a total number of points they
believe that team will win the game by. It’s up to you to then decide if you
think that the pick by the sportsbook is over or understated.
Here’s an example to help you visualize this: in an upcoming game with the
Chicago Bulls and Miami Heat, a sportsbook has posted a point spread of 5 points
in favor of Miami. In short, that means that the sportsbook expects Miami to win
by that many points. If you were placing a point spread wager on this game,
you’d have to choose if you think the sportsbook is high or low.
If you think that Miami will win the game by at least five points or more,
you will bet on Miami. However, if you believe that Chicago will win the game or
lose by 4 points or less, then you’d wager on Chicago. To win this bet type,
you’ll have to correctly select from one of the two options above.
To gain a deeper understanding of these wager types, don’t miss out on the
link below. Here, you’ll be able to soak up more information about point spreads
and handicap betting.
Futures and Outright Bets
In the sports betting world, futures bets and outright bets also mean the
same thing. With this type of sports wager, you’ll be selecting the winner of an
overall tournament, competition, or league. In most cases, you’re making your
pick well in advance of the actual sporting event happening. It’s because of
this that the term “futures” is associated with these bets.
For example, you might bet on the winner of the NBA Finals before the next
season actually starts. Another sample is if you bet on the winner of the Super
Bowl before a single NFL game was played for the current season. In both of
these examples, you’re placing a wager well in advance of the actual event
happening.
Because most of these outright bets are placed so far ahead of their
completion, they can be tough to pick correctly. When betting on a sport before
the season begins, you don’t have a ton of information about how a particular
team will perform. Due to this, the payouts associated with them can be very
handsome. However, it’s important to keep in mind that the attractive payouts
mean that they are risky bets.
We’ve also developed a page dedicated to futures and outright bets. You can
utilize this page to gain a deeper understanding of these types of wagers if
you’d like to begin placing them as a part of your sports betting strategy. To
view this page, click below.
Proposition Bets and Specials
If you’re looking for something a bit different than a standard sports bet,
you might consider placing a proposition bet. Also known as prop bets or
specials, these types of wagers can be on just about anything.
As an example, you can place prop bets on which team or player will score
first in a game. Other prop bets include the time of the first goal in a soccer
match or which team player will score the first run in a game. These samples
hardly scratch the surface on different prop bets that you can place. In
reality, there are all kinds of different things that you can bet on using this
type of wager.
If you’d like to view more information about prop bets and see other samples
of them, be sure to check out the link below. It will take you to our detailed
page on prop bets where you can learn more about them.
Parlays and Accumulators
When it comes to parlays and accumulators, things begin to get a bit more
complicated. Because of this, these types of sports betting wagers should not be
used by beginners. With these types of bets, you’ll actually select a string of
picks as part of one single wager.
For example, if you’re betting on horse racing, you can place an accumulator
bet on the winner of six different races. To win this wager, your picks would
need to be accurate for all six races. If just a single one of your picks is
incorrect, you’ll lose the bet and your stake.
Due to the string of picks associated with parlays and accumulators, these
bets are very risky. That means that you can earn high payouts, but it is less
likely that you’ll get them correct. Because of this, we’d suggest you only
place smaller wagers when using these bet types.
Accumulators & Multiples
Teasers and Pleasers
Taking the idea behind accumulators to more complicated heights brings us to
teasers and pleasers. These bet types are similar to parlays and accumulators in
that you’ll make multiple selections as part of your bet. However, there are
some critical differences between them all.
With teasers, you’ll pick the string of bets that you want to make. Next, you
can move around the point spreads in your favor to help give you a better chance
of winning the wager. This gives you a big leg up over a standard parlay-style
bet.
Conversely, you could also place a pleaser bet which makes it harder for you
to win. With this type of wager, you’ll actually move the point spreads out of
favor. Here, you’ll have a disadvantage to winning compared to a standard parlay
bet. However, since it is a harder wager, the potential payouts will be higher
if you’re able to win the wager.
Because teasers and pleasers are different in how they function, we’ve made a
dedicated page for each one of them. If you’d like to learn more information on
one or both, you can use the links below.
If Bets and Reverse Bets
Some of the hardest wagers to understand are if and reverse bets. At their
core, these bets are ones where you’ll make multiple selections. However,
depending on your picks, how things play out can change.
Horse Bets Explained
For example, with if bets, you’ll kick things off by picking two or more
wagers joined by a common cause. With this type of wager, if your initial pick
is incorrect, all subsequent wagers are off. Because of this, you have reduced
risk with if bets, which makes them considered safer options than standard
parlay wagers.
With reverse bets, you’re essentially combining two if bets into one. For the
first portion of the wager, you’ll place an if wager on your first and then your
second selection. Next, there will be another if bet in place for your second
selection followed by your first one. In short, reverse bets work in both ways.
Due to the complexity of if and reverse bets, we’d strongly suggest you check
out the link below before placing any real money bets using them. On our
in-depth page about these bet types, we’ll give you a deeper explanation along
with other samples that you can use to grasp precisely how they function.
Permutation Betting
Rounding out our explanation of common bet types brings us to permutation
betting. This type of sports betting is one of the most complicated ones to
understand. With this wager type, you’ll make multiple selections and place
numerous wagers through the combination of the selections. This bet type is
another one that should not be used by beginners due to how difficult these
wagers are.
If you’d like to dig more into permutation betting, be sure to check out the
link below. It will take you to our detailed page focused solely on this bet
type. Here, you’ll find sample permutation bets and a more in-depth explanation
of how they work. Once you see a handful of samples from this page, you should
have a good understanding of these complicated wagers.
Additional Resources
We didn’t want to leave you without also offering some of our other top-notch
sports betting-related resources. Below, we’ve included links to some of our
most popular and helpful guides on many different things. If you’re seeking to
increase your knowledge of sports betting, there’s something below to help you
learn more.
Beginner’s Guides to Sports Betting
If you’re on this page because you’re new to sports betting in general, then
the links below are your new best friends. These links are our two best sports
betting beginner’s guides. In these two guides, you’ll get a firm understanding
of sports betting basics so that you can begin placing wagers quickly. Even if
you have some knowledge of sports betting, these pages are worth a quick scan to
make sure that you’re informed on all of the critical topics.
Getting Started
Sports Betting Essentials
For those of you that are experienced sports bettors, you’ll want to get
things started at our sports betting essentials page. This page is also an
excellent spot for beginners that have worked through our two guides above. On
our essentials page, we’ll dive deeper into more advanced sports betting
strategies that you can use to elevate your sports betting knowledge to more
than just the basics.
Odds Converter
While you’re making sports bets online, you may occasionally come across an
online sportsbook posting odds in a format that you’re not the most comfortable
with. If that’s the case, all hope is not lost. By using the link below to our
proprietary odds converter page, you can take odds of any format and convert
them into another. By doing this, you’ll always make sure that you understand
the odds of a wager before you risk real money on it.
Suggested Sports Betting Sites
If you don’t already have an online sports betting home, we’ve got some great
suggestions for you. Below, you’ll find links to a few of our pages dedicated to
different sports betting sites. Up first, we’ve got our page on the best
all-around sports betting sites. Next, there are also links to our pages for the
best mobile sports betting sites and online sportsbooks for live betting. No
matter what you’re looking for, these pages will help you find a legit and
trusted website to do all of your sports betting.
Mobile Betting Sites
Live Betting Sites
Conclusion
Hopefully, you’ve gained the knowledge on bet types that you came here for.
If you’ve never visited our site before, we’d encourage you to poke around and
see all of the other excellent resources that we have relating to sports
betting. We’ve developed this site to help gamblers of all skill levels elevate
their betting to all new heights. Thank you for dropping by, and best of luck in
all of your future sports wagers!
Frequently Asked Questions
In this section, we’ve included a handful of FAQs relating to the different
types of sports bets. If you still have some questions after checking out the
rest of what this page has to offer, we hope that this portion will help you
locate the answers you need. To view the answer to one of the questions, you
just need to click on the question itself.
I’m new to sports betting. Which bet type should I start with?
Those of you that are new to betting on sports should stick with more basic
wagers while you get a firm understanding of how sports betting works.
Specifically, we’d suggest you start with win, moneyline, spread, and over/under
bets. Once you’re comfortable with these bet types, you can then consider some
of the more advanced bet types like parlays.
How much should I bet?
Bets Explained
We can’t provide an answer here that will work for all individuals reading
this page. The amount of money that you should bet on any particular bet will
depend on several factors. Some of those factors are your risk tolerance, the
type of bet you’re making, and the size of your betting bankroll.
If you don’t already have a bankroll management plan established, that would
be something we’d urge you to develop as soon as possible. Bankroll management
plans will assist you in determining how much you should bet. Instead of betting
your entire bankroll at once, you’ll bet a small portion of your bankroll to
help extend the life of it. To learn more about bankroll management and learn
how you can establish a plan for you, check out the link below.
Do I have to use all of these bet types?
Absolutely not. If you’re happy betting using just one of two of the sports
betting types listed above, that’s perfectly fine. Ultimately, it’s up to you to
choose which wager types you’ll utilize in your sports betting strategy.
Are all of these bet types available on all sports?
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No. Different sports and sportsbooks will have different wager types
associated with them. The best thing for you to do is check out an online
sportsbook and see what options you find available for the sports you would like
to bet on. Keep in mind that things can vary between sportsbooks, so it’s always
a good idea to check out several and see which one gives you the most extensive
set of betting options.
Which bet types are the riskiest?
If you’re looking to avoid risky sports bets, then you should steer clear of
parlays, teasers, pleasers, if, reverse, and permutation bets. Since each of
these bet types requires you to make more than one selection, their risk is
elevated over the other forms of wagers. The bet type with the highest risk is
typically permutation betting due to how this bet type is structured.
Some of you may still have some questions that were not answered above. If
that’s the case, then don’t miss our full sports betting frequently asked
questions page. Using the link below, you can check out our full lineup of FAQS.