Sports betting is said to be one of the biggest and most popular forms of gambling in the world. There are different ways of placing your bets. This is one of the reasons sports betting is great because there are many options in which you can place your bet.

Straight bets - Many people who are sports fans are probably familiar with the most basic bet in sports. The straight bet is the most common wager placed by sports bettors especially when it comes to sports such as football and basketball. A betting line is set, which is often pointed out as a point spread, and you can either bet on the favorite and give up the points or place a bet on the underdog and get the points. The favorite has to win the game by more than the set point spread in order to cash in. The underdog has to win outright or lose by less than the point spread to “cover” and win the bet. Ties in this situation are known as a “push” and no money is lost or won.

Parlay bets – parlay bet is a single bet that links two or more individual wagers and is dependent on all the wagers winning together. It can be as few as two separate picks all the way up to a particular sports book’s set limit (10-12 picks). The betting odds on a parlay payout are balanced accordingly based on the total number of picks you group together. Usually, they start at a 13-to-5 return in your favor for a two-team parlay and can go as high as 645-to-1 for a 10-team parlay. The trick to cashing in on a parlay is that all of your picks must win or the entire parlay is lost. Parlays can be a very high-risk/high reward sports bet and not always appropriate for the faint of heart.

Teaser bets – Teaser bets involve an exchange of points of volume. A bettor buys some number of points and must parlay two or more selections in return. A teaser bet is almost like the parlay bets where all the wagers linked together have to qualify to be able to win the cash prize. The downside to teasers is that they are still hard to hit and your overall payout is reduced quite a bit using the adjusted betting lines. Typically a straight-up three-team parlay would pay 6-to-1, but once you decide to tease the spread in your favor, the payout drops to 2-to-1 on a winning bet.

Total line bet - The second-most popular bet in many sports is on the total line. In this type of sports bet, a number is set for the combined final score of both teams and you then bet on the actual score staying “under” that total or going “over” the set number. Often times you can bet on a total line by each half of a game when it comes to football and in basketball.
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