Types of Sports Bets
In most sporting events, it is far from a level playing field. Imagine the University of Alabama football team playing a Division II school with 2,000 students. If it were as straightforward as choosing the winner, everybody would select Alabama. Sports wagering deals with the disparity in talent between opposing teams in a couple of ways.
One method to manage a sporting event with a transparent favorite/underdog is to create it so that you win more or less cash depending on which group wins. To go back to that Alabama/DII matchup, let us say that you would win $1,500 on a wager on the DII college, as you would only win 115 on a bet of $100 on Alabama. Today, more people may be tempted to bet on the tiny school, realizing that they can acquire a massive payout using a comparatively low bet. Conversely some bettors pick against risking a relatively large bet for a little payout betting on Alabama. A moneyline wager balances the risk of gambling an underdog with a higher payout if the upset occurs.
Another way of handling the favorite/underdog problem is by using a point spread. Again, taking the Alabama/DII example: At a point spread bet, you are going to win the identical amount of money regardless of which team you pick. But you are no longer picking the winner of the competition. A +/- amount is awarded to each group, and the bet is whether the winning team will’pay’ the spread, which means winning by a range of points greater than the point spread amount. So, Alabama might be -35 1/2, along with the DII school is +35 1/2. This means that for a wager on Alabama to cover out, Alabama has to conquer the DII faculty by more than 35 points. If Alabama wins, but wins only 30, the bet that overlooks is the wager about the DII school.
Added Wager Types
The simplest types of bets are either moneyline bets or point spread bets, as they come down to picking a team to conquer (or cover against) another group. But, there are quite a few other types of sports wagers possible to create.
For a given sports event, some will be put. The bet is if the combined point total will surpass that value. It doesn’t matter which team scores the things, it’s simply adding both scores.