Although wagering dates back to 4000 BC, sports betting as we know it today bloomed in the early 2010s. The sector has since grown into a multi-billion-dollar industry with millions of fans and providers.

This abundance is also reflected in the many betting options available to bettors. In addition to predicting the outcome of a game, you can bet on the halftime score, total score, and more.

Here is a closer look at the different types of sports bets available to you today: 

Moneyline

Moneyline bets are the most straightforward and easiest-to-understand type of bet. When you bet on a team’s moneyline, you are Betting for it to win. Most sports betting operators like Betway list moneyline bets first, accompanied by odds. Because matches are often uneven, you may see the underdog with long odds and the favorites with short odds. Either way, a moneyline bet is a wager on a team to win.

Over/Under

Over/under bets are also called totals. As the name suggests, these are wagers on the combined total of both teams. The sportsbook sets a threshold, and you bet on whether the total score will be “over” or “under” this limit. Here is an example:

Chicago Bulls Vs. Dallas Mavericks

1. Over 220.5 (-110)
2. Under (220.5) (-110)

If you bet the over, you predict the teams will score more than 220.5 points combined. If the game ends at Bulls 120-Mavericks 110, the over hits because the combined score is 230. 

In this case, it doesn’t matter which team wins.

Point Spread

When you place a point spread bet, you bet on the margin of victory. Favorites are usually designated a (-) sign and underdogs a (+) sign, as such:

1. Buffalo Bills +14 (-110)
2. LA Rams (-14) (110)

In this bet, the Bills (the underdogs) are expected to lose by 14 points. Oddsmakers assign the team 14 phantom points to even the score.

 For this bet to hit, the Bills must either win the game or lose by less than 14 points. Meanwhile, the Rams must beat the Bills by more than 14 points to cover the spread.

Parlays

Parlay bets combine multiple wagers into one bet with a higher potential payout. However, every leg of the parlay must hit for the parlay bet to win. So, if you combine six bets into one parlay, all six bets must hit. If even one loses, the entire bet is a bust. This usually compounds the reward and the risk.

Prop Bets

Prop or proposition bets deal with events within a game that don’t necessarily affect the outcome. When placing this bet, you can wager on team or individual player performance, among other things. For example, you can bet for “Kylian Mbappe to score 2 goals before halftime” or “LeBron James to score over 7.5 rebounds.”

Wrapping Up: Picking the Right Bets to Place

Most sportsbooks offer a variety of bets, including moneylines, point spreads, parlays, and live bets. The best way to pick a bet that works for you is to try all of them.

Use your Betway bonus or a demo account to familiarize yourself with each bet and how it works. Then, considering your strategy, pick the bets that best align with your bankroll management system.