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Understanding Sports Betting Types

Latest Update: June 2022

When you are new to sportsbetting, all the different betting types available can become very daunting quickly!

I was in the same position as you a few years ago when betting became legal in my state, so I know what it’s like to think to myself, “what is a Moneyline?” “What is a Same Game Parlay?” and even what cover the spread means!

This is precisely what led me to create this post for you!

I would recommend saving this page to your phone so that you can quickly revert to it later rather than have to find it all over again.

Since so many states have recently opened their doors to legalize online sports betting in the United States.

I thought now would be the perfect opportunity to lend some experience on the subject in a simplified form so that it is relatable and easy to understand.

When I began betting on sportsbooks, the information out there was so confusing that I found myself reading and then re-reading half of the content to figure out what it meant.

Bet Types

There are many different betting options out there, but I will try and simplify it down as easily as possible so that you can get the answers you need as easily as possible.

What is a Moneyline?

Moneyline is the simplest and most common form of placing a sports bet; this is where you place a bet on who you think will win.

What is a 3-way Moneyline?

3-way moneyline (also known as Match or 1X2) is for sports and events that might finish in a draw. There are three possible outcomes to consider. This sort of betting is often referred to as a 1×2 wager. You can choose between win, lose, or tie.

What is a Correct Score Bet?

Correct Score (also known as Result Betting) is where you place a bet on what you think the exact score will be at the end of the game or event.

What is an Over/Under Bet?

Over/Under” (also known as Totals) is where you place a bet on the partial or definite amount of an event (for example, you may choose how many touchdowns will happen in the Super Bowl).

What is an Odd/Even Bet?

Odd/Even is where you have the opportunity to place a bet on odds or evens of a game (for example, you may bet that the total points in a game of basketball will be even).

What is a Head-to-Head Bet?

A Head-to-Head is where you place a bet on two players against each other (such as in tennis or snooker).

What is a Triple-Head Bet?

Triple-Head is where you place a bet on a competition between three players (such as in a golf tournament).

What is a Half time/Full Time Bet?

Half time/Full time is where you can place a wager on who you think will win the first half and second half of an event (for example, you can choose that one team will win the first half of a game, then the other team will come back and win in the second half.

What is a Same Game Parlay?

Same Game Parlay is a betting option that allows you to place numerous different bets on a game all in one bet slip.

As an example, you can choose the home team to win the first half, lose the second half, that the quarterback will throw over 200 yards, the point difference will be under 6 points, and there will be more than two touchdowns all in the one single $1 bet!

These types of bets carry far greater risk and are not for the faint of heart, but if you win, the profits are much better than a simple bet such as Moneyline.

What’s a Bet Builder?

A Bet Builder is where you can place a bet on different sporting events; for example, you can choose to bet on different Football, Basketball, and Baseball games all on the one betslip.

The odds decrease the more bets you add to the betslip; however, the profits also increase, very risky but significant if you win!

What is Period Betting?

Period betting is where you bet on the outcome of each separate period of a game or event (for example, an ice hockey game scores 2-0 / 0-1 / 1-1, the winning outcome is 1/2/tie0, this is where things become complicated and are not designed for novice bettors.

What is Spread Betting?

Spread betting (Points spread in Basketball and Football), also known as Runline in Baseball, and Puckline in Hockey (also known as Handicap in Hockey).

You place a bet on the team you think will win within a certain amount of points.

For example, you could bet on a particular team to win by less than 5 points.

There are three different types of Spread Betting; however, so as not to confuse you, we will only go into the 2-way spread:

What is a 2-way Spread?

A 2-way spread is where you place a wager on a team by giving them a “handicap” against the other team.

The final resulting score difference must be higher (for example, you could choose the home team to have a score of -4 which means that the home team needs to have a final score difference of 5 or more).

However, if the resulting point difference is the same as the handicap, the bet is void and refunded.

What are Alternative lines/spreads?

Alternative lines/Spreads (commonly also known as Teasers) is where you can place a bet at less favorable odds than the main spread by essentially “buying” extra points (kinda like a reverse handicap).

Effectively you will give yourself better odds of winning for a smaller payout.

Sportsbooks such as BetRivers New York usually offer a few different spreads/handicap lines on games and events listed.

What is a Double Chance Bet?

Double Chance is where you have the option to bet on two different outcomes of a game (for example, you may choose that the home team will win and tie but not lose).

What are Futures Bets?

Futures betting ( also known as Outright or Place betting) is precisely what it sounds like; you can place a bet on the likely outcome of an event you think will happen in the future, such as choosing who will win the NBA next season.

What is an Each Way Bet?

Each Way bet (aka EW) is commonly found in horse racing but can also be found in events such as formula 1 betting.

This is where you place a bet on a horse or competitor to come first or place 2nd or third.

What are Goal Minutes Bets?

Again this is typically used in soccer; Goal Minutes is where you place a bet on the total sum of the minutes that goals have been scored.

Goals scored in injury time are counted as being scored in the 45th and 90th minutes (again, this form of betting isn’t recommended for novice bettors).

In Summary

Betting on sports is a lot of fun and adds a little extra incentive to the game you watch; the betting types listed above are the most common forms of betting. More betting types are not listed here.

However, as you most likely are new to betting, it is best to know the basics and not get swamped with the more confusing betting types.

Don’t forget to save the page if you want to refer back to this later.

Bonus

Did you know that BetRivers has one of the best promotions going for members in New York that sign up?

We have an exclusive promo code given to us by our friends over at BetRivers.com which is better than the bonus they give to their regular sign-up customers exclusively through the BetRivers link provided.

Stay safe and have fun!

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