Types of Bets in Sports Betting: Complete Guide to Every Bet Type
From basic moneylines to complex parlays, here's every bet type you'll encounter.
By
Eric Pauly
Feb 13, 2026
0 min read
Understanding Different Types of Sports Bets
Sports betting offers more ways to wager than simply picking who wins. Each bet type focuses on different aspects of a game: the winner, the margin, the total score, individual performances, or combinations of outcomes. Understanding these options lets you find bets that match your analysis rather than forcing your opinions into a single format.
When I started betting, I stuck to moneylines because they were simple. It took months before I realized that spreads, totals, and props often offered better value for the opinions I held. A game I thought would be close but had no winner pick was perfect for the under. A player I expected to dominate was a prop bet opportunity. This guide covers every major bet type, explaining how each works and when it makes sense to use.
article Summary
Major bet types include moneylines (picking winners), point spreads (winning by a margin), totals (combined score over/under), props (specific occurrences), parlays (multiple selections), teasers (adjusted spreads), futures (season-long outcomes), and live bets (in-game wagering). Each serves different analytical angles. Mastering multiple bet types expands your opportunities to find value.
Core Bet Types
Moneyline
The simplest bet: pick who wins the game. No point spreads or margins. Favorites have negative odds (risk more to win less), underdogs have positive odds (risk less to win more). Moneylines are popular in baseball and hockey where games are often decided by 1-2 runs/goals. In football and basketball, moneylines on heavy favorites can be expensive. Full details in our moneyline betting guide.
Point Spread
The spread levels the playing field. If the Chiefs are -7, they must win by 8+ for spread bets to cash. The Broncos at +7 can lose by up to 6 and still cover. Spreads typically carry -110 odds on both sides. This is the most popular bet type in football and basketball because it creates competitive betting even in lopsided matchups. See our point spread guide.
Totals (Over/Under)
Bet on the combined score of both teams. If the total is 48.5, over bettors need 49+ combined points. Under bettors need 48 or fewer. You're not picking a winner; you're predicting scoring volume. Weather, pace, and defensive strength inform totals analysis. Our over/under guide covers strategies.
Proposition Bets (Props)
Player Props
Bets on individual player performances: passing yards, touchdowns, rebounds, strikeouts. The sportsbook sets a line (e.g., Patrick Mahomes over/under 285.5 passing yards), and you bet whether the player exceeds or falls short. Player props let you bet on specific outcomes without picking game winners. Covered extensively in our prop betting guide.
Game Props
Bets on specific game events: first team to score, will there be overtime, total sacks in the game. These bets focus on occurrences rather than outcomes. Game props are popular for major events like the Super Bowl, where dozens of creative props are offered.
Why Props Matter
Props expand your betting opportunities beyond game outcomes. If you follow a sport closely and have strong opinions about specific players or situations, props let you express those views. Player prop markets are often less efficient than spreads and moneylines because sportsbooks devote fewer resources to setting them, creating potential value for informed bettors.
Multi-Selection Bets
Parlays
Parlays combine multiple selections into one bet. All legs must win for the parlay to pay. The payout is higher because the probability is lower. A 3-leg parlay at -110 per leg pays around +595. Parlays are high-risk, high-reward. They're popular but mathematically challenging because one loss busts the entire bet. Our parlays guide covers when they make sense.
Teasers
Teasers are parlays where you adjust spreads in your favor in exchange for reduced payouts. A 6-point NFL teaser moves each spread 6 points in your direction. A team at -7 becomes -1. All legs must still win. Teasers can offer value when crossing key numbers in football. See our teaser guide for strategy.
Round Robins
Round robins create multiple parlay combinations from your selections. Three teams generate three 2-team parlays. If one loses, you lose one parlay but the others can still pay. Round robins offer partial protection against single-leg losses while maintaining parlay upside. Our round robin guide explains the math.
Specialty Bet Types
Futures
Bets on outcomes decided in the future: championship winners, MVP awards, season win totals. Futures offer high payouts because you're betting months in advance when uncertainty is greatest. Your money is locked up until the outcome is decided. Futures require patience and long-term thinking.
Live Betting (In-Play)
Bets placed after the game starts with odds updating in real-time. Live betting lets you react to game flow: if a team dominates early but hasn't scored, live odds might offer value. It requires quick decisions and discipline to avoid overreacting. Our live betting guide covers strategies.
Same Game Parlays (SGPs)
Parlays combining multiple bets from the same game: team spread + player prop + total. Correlated outcomes mean sportsbooks set special odds for SGPs (typically worse than uncorrelated parlays). Popular for casual bettors who want action on a single game. Use cautiously since the odds are typically unfavorable.
Alternate Lines
Spreads and totals at different numbers than the main line. If the main spread is -6.5, alternate lines might offer -3.5 (higher price, easier to cover) or -9.5 (lower price, harder to cover). Alternate lines let you buy or sell points based on your conviction about margin.
Final Thoughts
Different bet types exist because different situations call for different wagers. Sometimes you have a strong opinion on who wins. Sometimes you think a game will be low-scoring without knowing who wins. Sometimes you believe a specific player will outperform expectations. Mastering multiple bet types lets you express any opinion in the betting market.
Start with moneylines and spreads to understand core mechanics. Add totals when you develop opinions on game flow. Explore props when you follow players closely enough to identify edges. Use parlays sparingly and strategically. Each bet type is a tool. The more tools you understand, the more opportunities you can capture. For help finding the best odds across bet types, explore the best betting tools and odds comparison features.
Types of Bets FAQ
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