Sports betting can look like a maze at first, but honestly, once you get the hang of the basic bet types, it starts to make sense. The three main types of sports bets are moneyline (just picking the winner), point spread (betting on the margin of victory), and totals (guessing if the combined score goes over or under a set number).
These three options cover most of what you’ll see at sportsbooks.
Each type gives you a different way to win and comes with its own level of risk. Moneyline bets are straightforward—just pick which team you think will win.
Point spread bets are a bit trickier since they try to even things out between favorites and underdogs by adding or subtracting points. Totals bets? They don’t care who wins, only how many points both teams rack up together.
Once you’ve got these basics down, you’re already making smarter betting decisions. Knowing how odds work, reading betting lines the right way, and picking the right bet type for the situation can help you steer clear of rookie mistakes.
Let’s break down these core betting concepts in a way that actually makes sense.
Breaking Down the Three Main Bet Types
Moneyline bets are all about picking the outright winner. Point spread bets add a margin of victory, and totals just focus on the combined score.
Each one comes with its own risk and payout style, so you can match them to your betting strategies.
What Is a Moneyline Bet?
A moneyline bet is the simplest way to bet on sports: just choose which team will win. No spreads, no weird math—just pick the winner.
Sportsbooks show moneyline odds with positive and negative numbers. Negative numbers are for favorites, and positive numbers mean underdogs.
So, if the Lakers are -150 and the Celtics are +130:
- Bet $150 on the Lakers to win $100 if they pull it off
- Bet $100 on the Celtics to win $130 if they upset
Favorites need a bigger bet for a smaller win, while underdogs pay out more if they come through.
Moneyline bets are everywhere. Soccer throws in draws as an option, and baseball or hockey usually stick to moneylines since games are low-scoring.
This type of bet is great for beginners—no need to overthink it. Just trust your gut on which team will show up that day.
What Is a Point Spread Bet?
Point spread betting is where things get interesting. It’s designed to keep things fair between strong and weak teams by giving the underdog a head start.
The favorite has to win by more than the spread; the underdog can lose by less or win outright and still cover.
Spreads usually come with half-points so there’s no tie. If the Patriots are -7.5 against the Jets, New England has to win by 8 or more. Jets bettors win if New York loses by 7 or less, or takes the game.
Covering the spread just means a team did what was needed for that bet. Either side can cover, depending on the final score.
Different sports have their own spin on spreads:
- Football and basketball: Classic point spreads
- Baseball: Run line, usually 1.5 runs
- Hockey: Puck line, usually 1.5 goals
Most spreads have -110 odds, so you’d risk $110 to win $100, no matter which team you like.
Spread betting can be a little more strategic. Sometimes, the actual quality of the teams matters less than how much they win or lose by.
What Is a Totals (Over/Under) Bet?
Totals bets are about the combined score, not who wins. You just bet if the final score will be over or under what the sportsbook sets.
If a basketball game’s total is 215.5, betting the over means you want 216 points or more. The under wins if the total is 215 or less.
Here’s how totals work in different sports:
| Sport | What Counts |
|---|---|
| Football | Combined points |
| Basketball | Combined points |
| Baseball | Combined runs |
| Hockey | Combined goals |
| Soccer | Combined goals |
Weather, injuries, and the pace of play can all mess with totals. Fast teams usually mean higher scores; tough defenses can keep things low.
Sportsbooks also offer alternate totals with different odds. You can pick a higher or lower number for a different payout.
Totals are fun if you just want to root for (or against) points, not sides. Every score matters, so there’s action right up to the end.
Understanding Moneyline Betting
Moneyline betting is as straightforward as it gets: pick the team you think will win. The odds show you the payout and which team’s expected to come out on top.
How Moneyline Odds Work
Moneyline odds tell you two things: who’s favored and how much you’ll win. Most US sportsbooks—think BetMGM, DraftKings, FanDuel—use the American format.
You’ll see positive or negative numbers next to each team. These numbers are based on a $100 bet, but you can bet any amount—the ratio stays the same.
Example of moneyline odds:
- Lakers -150
- Celtics +130
There are also decimal and fractional odds. Decimal odds include your original bet. Fractional odds show just the profit.
Honestly, once you get used to American odds, they’re not that bad.
Favorite vs. Underdog in Moneyline Bets
The favorite is expected to win and has negative odds. The underdog has positive odds and is less likely to win.
Favorites make you risk more for less profit, since they’re more likely to win. Underdogs pay out more because, well, they’re not supposed to win as often.
Team roles in moneyline betting:
- Favorite: Higher chance to win, but smaller payout
- Underdog: Less likely to win, but bigger payout
These roles can flip if there’s an injury or some last-minute news. Sportsbooks adjust the lines all week as new info comes in.
Comparing Positive and Negative Odds
Negative odds show how much you need to risk to win $100. A -200 favorite means you have to bet $200 to win $100.
Positive odds tell you how much you’ll win on a $100 bet. A +150 underdog pays $150 profit for a $100 bet.
The bigger the negative number, the heavier the favorite. The bigger the positive, the more of a long shot.
Odds comparison examples:
| Team | Odds | Bet Amount | Profit |
|---|---|---|---|
| Team A | -200 | $200 | $100 |
| Team B | +150 | $100 | $150 |
You can scale these up or down for any bet size. Bet $50 on +150 and you’d win $75 profit.
Getting comfortable with these odds really helps when you’re shopping around for the best bets.
Mastering Point Spread Betting
Point spreads are all about giving both teams a fair shot in the eyes of bettors. You’ll want to know how sportsbooks come up with these lines, what the odds mean, and how covering spreads works.
How Point Spreads Work
Point spreads balance out uneven matchups. The favorite gets a minus number and needs to win by more than that. The underdog gets a plus and can lose by less, or just win outright.
If the Patriots are -7.5 against the Jets +7.5, New England has to win by 8 or more. The Jets cover if they lose by 7 or less, or win the game.
Football and basketball stick to classic point spreads. Baseball uses run lines (usually 1.5 runs), and hockey has puck lines (usually 1.5 goals).
The half-point (.5) is there to avoid ties, so there’s always a winner and a loser on each bet.
Reading Spread Odds
You’ll see spread odds next to the point spread, showing the payout. Most spread bets are -110, so you risk $110 to win $100.
Example spread line:
- Team A -4.5 (-110)
- Team B +4.5 (-110)
The -110 odds are how the sportsbook makes money. You’d need to win about 52.4% of your bets just to break even at those odds.
Sometimes, odds aren’t even. One side might be -105, the other -115, especially if more people are betting one way.
Lines can move, too. If a lot of bets come in on one side, or if there’s breaking news, sportsbooks will shift the spread.
Covering the Spread and Alternate Spreads
Covering the spread means your team did what was needed based on the bet. Favorites need to win by more than the spread, underdogs can lose by less or win outright.
A team can win but not cover. Say the Lakers beat the Celtics 105-100, but were favored by 7 points—Lakers bettors still lose.
Alternate spreads let you pick a different margin for a different payout. If the standard is -4.5, you might see:
- -2.5 at worse odds
- -6.5 at better odds
This way, you can adjust risk and reward to your liking.
Exploring Totals (Over/Under) Betting
Totals betting is just about the combined score—no need to pick a winner. The sportsbook sets a number, and you decide if the actual total will be higher or lower.
How Totals Bets Work
Over/under bets are simple: will the combined score go over or under the number set? Doesn’t matter who wins.
You pick “over” or “under.” Over wins if the total is higher than the number. Under wins if it’s lower.
Example of a totals bet:
- Lakers vs. Warriors total: 225.5 points
- Over 225.5 (-110)
- Under 225.5 (-110)
If the final is Lakers 118, Warriors 109, that’s 227 points, so the over wins.
Totals aren’t just for game scores. You’ll find over/unders for player stats like rushing yards, assists, or even strikeouts.
The Over/Under Line Explained
The over/under line is what the sportsbook thinks the total will be. Usually, it’s got a half-point to avoid ties.
Odds are usually -110 for both sides, but sometimes they’ll shift to -105 or -115 if betting is heavy on one side.
Common over/under line formats:
| Sport | Typical Range | Example |
|---|---|---|
| NFL | 40-55 points | O/U 47.5 |
| NBA | 210-240 points | O/U 225.5 |
| MLB | 7-10 runs | O/U 8.5 |
That half-point means there’s no push—if the total lands exactly on the number, nobody gets a refund.
Sportsbooks will move the line if a lot of money comes in on one side, or if new info comes out.
Strategies for Totals Betting
Weather can really mess with totals in outdoor sports. Wind and rain in football usually mean fewer points, so check the forecast before betting.
Team pace matters in basketball. Fast teams mean more points, slow teams usually keep things under.
Key factors for totals betting:
- Injuries to key players – Star scorers missing can drag down the total
- Defensive rankings – Strong defenses usually mean lower scores
- Recent scoring trends – Teams on a cold streak might keep struggling
- Venue factors – Some stadiums just seem to favor offense or defense
It’s smart to keep bets small while you get a feel for how these factors play out.
Also, shop around for the best line. Even half a point can make the difference between a win and a loss.
How Odds Work and Interpreting Odds Formats
Betting odds aren’t just numbers—they’re a way of showing both your potential winnings and how likely something is to happen. You’ll see a few different types, like American, decimal, or fractional odds, but basically, they all point to the same info. The vig, by the way, is the little fee sportsbooks sneak in for themselves.
American, Decimal, and Fractional Odds
With American odds, you get plus and minus signs to tell you who’s favored and who’s the underdog. If you see -150, that’s saying you’d need to risk $150 just to win $100. Flip it to +200, and now you’d win $200 for every $100 you bet.
Decimal odds are more of a European thing and just show you your total payout, simple as that. So, at 2.50 odds, you get $2.50 back for every $1 you bet—including your original dollar.
Fractional odds, like 3/1 or 5/2, are a bit old-school. The first number is what you win, the second is what you risk. At 3/1, you’re getting $3 for every $1 you throw down.
Converting Between Formats:
- American -150 = Decimal 1.67 = Fractional 2/3
- American +200 = Decimal 3.00 = Fractional 2/1
Implied Probability and Expected Value
Implied probability is just the chance of something happening, according to the odds. You can figure it out by dividing 100 by the decimal odds, or use a formula if you’re working with American or fractional.
For American odds, here’s how you do it:
- Negative odds: odds / (odds + 100) × 100
- Positive odds: 100 / (odds + 100) × 100
Expected value (EV) is what tells you if a bet is actually worth it in the long run. If you see positive EV, that means you should, in theory, make money over time. Negative EV? You’re expected to lose in the long haul.
Smart bettors are always hunting for +EV bets, where their own probability calculations beat the implied probability. That’s where the value—and the profit—lives.
Understanding the Vig or Juice
The vig or juice is the sportsbook’s cut. They bake a small fee into every bet, offering odds just a little worse than what’s fair.
Most spreads and totals come with -110 odds on both sides. So, you have to risk $110 to win $100. That extra $10? That’s the vig.
Example of Vig:
A fair coin flip should be +100 on both sides, but sportsbooks might offer -110 for both heads and tails.
The vig makes it tougher to win over time. You’ll need to hit about 52.4% of your bets at -110 just to break even. If you can find lower vig, you’re getting a better deal.
Building a Successful Betting Approach
Smart bettors don’t just wing it. They focus on three big things: money management, shopping for the best lines, and timing their bets.
Bankroll Management and Risk Control
Bankroll management is honestly the backbone of any decent betting approach. Never risk more than 1-5% of your total bankroll on a single bet.
If you’ve got $1,000, that means betting somewhere between $10 and $50 per play. It’s not glamorous, but it protects you during losing streaks and helps your bankroll grow if things go your way.
Risk management isn’t just about how much you bet. Chasing losses by upping your stakes after a bad day? That’s a slippery slope. Betting the whole bankroll on a “lock” is a quick way to go broke.
Tracking every bet you make sounds tedious, but it’s actually pretty useful. It helps you spot what’s working and what isn’t, and keeps you honest about your habits.
Line Shopping and Finding Value
Line shopping is just comparing odds across different sportsbooks before you bet. Not every book has the same prices, and sometimes that half-point difference is the difference between winning and losing.
Say Team A is -3 at one book but -2.5 at another—that’s a big deal. Getting the best line can quietly boost your profits over time.
Value betting is when you find odds that are better than what you think they should be. It takes some know-how, but that’s where the edge is.
Sports betting tools are out there to help you compare lines quickly. They save you time and maybe even some money.
Sharp bettors are always hunting for the best lines. Over hundreds of bets, those little differences add up.
When to Bet and Navigating Line Movement
Line movement is what happens when sportsbooks adjust the odds, usually because of new info or heavy betting on one side. Understanding why lines move can help you decide when to pull the trigger.
Betting early can net you better lines before the sharps jump in, but sometimes it pays to wait—like if there’s injury news or weather updates coming.
When to bet really depends on the situation. Don’t just bet because kickoff is near; look for value.
Lines tend to move toward the sharp money. If a line shifts away from the public and toward the pros, that’s a clue.
Tracking line movement across different sports helps you learn when you’re most likely to get the best number.
Beyond Basics: Additional Bet Types and Strategies
Once you’ve got moneyline, spread, and totals down, there’s a whole world of options: parlays for bigger potential wins, prop bets on specific player performances, and futures for season-long sweats. These days, sportsbooks also offer tools to help new bettors get up to speed.
Parlays, Prop Bets, and Futures
Parlays let you combine several bets into one ticket for a shot at a bigger payout. But every pick has to win, or the whole thing goes bust.
A three-leg parlay might be the Lakers to cover, the Yankees to win, and a football game to go over the total. Miss one and you’re out.
Most U.S. sportsbooks let you build parlays with anywhere from two up to 15 legs. More legs mean bigger payouts but also way more risk.
Prop bets are all about specific events inside games, not just the final score. You might bet on a player’s points, who scores the first touchdown, or how many strikeouts a pitcher racks up.
During big games, sportsbooks roll out hundreds of prop options—some are pretty wild.
Futures are all about the long haul. You’re betting on season or tournament outcomes, like who wins the championship, MVP, or how many games a team wins.
Futures odds shift as the season unfolds. Betting early can sometimes land you better value than waiting until the playoffs.
Leveraging Sportsbooks and Tools for New Users
If you’re just getting started, it’s honestly smart to poke around a few different sportsbooks. Odds and promos can be surprisingly different from one to the next, even on the same game.
Most big-name sportsbooks have mobile apps these days, and yeah, live betting is usually front and center. You get real-time odds and can jump in with in-game wagers if that’s your thing.
Sports betting tools? They’re actually pretty handy for tracking bets and spotting trends you might otherwise miss. A lot of books throw in calculators for parlays or possible payouts, which is a nice touch.
Line movement tracking is another feature worth checking out—it shows how odds shift before a game starts. Sometimes you can spot a good moment to place your bet, but honestly, it’s not always clear-cut.
For anyone worried about going overboard, most platforms have bankroll management features. Setting spending limits is a good way to keep things in check and not let betting get out of hand.
