| Bet Type | What it is | When to use it | Deep dive |
|---|---|---|---|
| Moneyline | Bet on the team or player to win outright, no spread. | Best for: short, clear games where you have a strong opinion. Avoid: heavy favorites at -300+ where the price is awful. | Moneyline guide |
| Point Spread | Bet on a team to cover an artificial point handicap. | Best for: NFL/NBA/college games where the spread balances the matchup. Standard juice -110. | Spread guide |
| Total (Over/Under) | Bet on the combined points/runs/goals being over or under a posted line. | Best for: weather/pace plays where you have a view independent of which team wins. | Total guide |
| Player Props | Bet on individual player stat lines (yards, points, rebounds, etc.). | Best for: targeted opinions on specific players. Limits are tighter than on game lines. | Player props guide |
| Game Props | Bet on team or game outcomes other than the spread/total. | Examples: first team to score, will there be overtime, exact score range. | All bet types |
| Parlay | Combine multiple legs; all must win for payout. | Higher variance, higher house edge. Use only where you have multi-leg conviction. | Parlay strategy |
| Same Game Parlay | Parlay where all legs are from one game; correlation is priced. | Highest-margin product the book sells (14-22% hold). Use selectively. | SGP strategy |
| Round Robin | Multiple parlays generated from a larger selection set. | Spreads parlay variance across more tickets but doesn't change underlying EV. | |
| Teaser | Buy points on multiple legs in exchange for worse odds. | Mostly -EV. Only specific 'Wong Teasers' that cross key NFL numbers (3 and 7) have proven value. | Teaser guide |
| Futures | Long-term bets on season-end outcomes (champion, MVP, awards). | Tied up capital — no compounding. Best when you have an early-season information edge. | |
| Live (In-Play) | Bets placed during the game. | Now 53% of US handle. Higher hold than pre-game. Pre-decide your live entries. | Live betting trends |
| First Half / First 5 (F5) | Bets on partial-game outcomes. | F5 in baseball is sharp-traded because pitcher matchups are clean. | |
| Pleasers | Reverse teasers — give the book points in exchange for big odds. | Almost always -EV. Marketing product, not edge product. | |
| If Bets | Conditional bet sequences — second bet places only if first wins. | Less common in US markets. Reduces variance vs parlay. |
The bigger frame
Most retail bettors stick with three formats: moneyline, spread, total. Those three are also the lowest-margin products in the sportsbook. Operator hold on straight game lines runs 4-7%; on parlays and SGPs, it runs 12-22%. Pick your format with that math in mind.
Recommended core stack
- 80% of volume: spread, total, moneyline (lowest hold).
- 10-15%: targeted player props where you have a specific opinion.
- 5-10%: SGP and parlay (entertainment + sized accordingly).