Sports betting has been around for centuries and has grown in popularity in the recent years due to technology. Now you can place a bet online with your favourite sports book, or make a selection on your cell phone – all these at the comfort of your own home. Sports betting has never been easier in the history of mankind to bet on sports.
Sports wagering can definitely provide extreme fun and excitement to those passionate about sports as well as the serious bettors finding a way to make smart money. Before one embarks on sports betting, it would be wise to understand the basic of sports betting.
In this article you will learn the 8 basic terms and definitions commonly used in betting on sports.
1. Straight Bets
A straight bet is the most common bet. This is where you wager on a single side to win. Straight bets can be made using either the point spread or the money line or the game total to go over or under. The format of line will vary depending on the sport that you are betting on.
A parlay is a bet with two or more teams (events) in which all teams must win. Since it is harder to predict multiple events than it is for a single event, the payout odds increases as the number of included events increases.
A teaser is a special type of parlay in sports betting in which you adjust the point spread or total of each individual play. Additional points are either either added to the underdog or subtracted from the favorite. The price of moving the point spread (teasing) is lower payout odds for winning the teaser wagers.
In sports betting, a prop is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included for example who scores the first touchdown in the super bowl, or who will win the next presidential election, or whether or not O. J. will be found guilty.