Types of sports bets explained: From moneylines to parlays

Types of Sports Bets: Understanding the different types of bets, from moneylines to parlays, can help you bet smarter and enjoy the game even more.

Whether you’re betting on the Super Bowl or just throwing a few bucks on a weekend game, knowing the different types of sports bets can make all the difference. From straightforward moneyline picks to high-risk parlays, the world of sports betting comes with its own set of rules, terms, and strategies. If you’ve ever heard someone say they’re “taking the spread” or “riding a teaser,” and had no idea what it meant — don’t worry, you’re not alone. Sports betting has its own lingo, but once you understand a few key bet types, it all starts to make sense. This guide breaks down the most popular kinds of sports bets so you can bet smarter and feel more confident, whether you’re at the sportsbook, online, or just talking sports with your friends.

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Moneyline: The simplest bet in the book

• You’re betting on who will win, plain and simple.
• No point spreads or totals involved.
• Example: Yankees -150 to win means you bet $150 to win $100.

Point spread: Leveling the playing field

• One team is given points to even out the odds.
• Popular in NFL and NBA betting.
• Example: Cowboys -6.5 means they need to win by 7 or more for the bet to hit.

Parlays: Big payouts, big risk

• Combine multiple bets into one ticket.
• All picks must win for you to cash out.
• Example: A three-leg parlay on the Chiefs, Lakers, and Bruins.

Over/Under: Betting on total points

• Also called “totals” bets.
• You bet on whether the total score will be over or under the sportsbook’s number.
• Example: Over 47.5 in a football game.

Teasers: Adjust the spread in your favor

• Similar to parlays, but you move the lines to reduce risk.
• Lower payouts, but better chance of winning.
• Common in football betting.

Props: Wagering on specific outcomes

• Short for proposition bets.
• Bet on things like “First touchdown scorer” or “Player passing yards.”
• Huge during big events like the Super Bowl.

Futures: Long-term bets

• Betting on season-long outcomes.
• Example: Dodgers to win the World Series.
• Odds shift throughout the season.

Round robins: Parlays with a safety net

• Create multiple smaller parlays from a group of picks.
• You can still win even if one leg loses.
• Less risk than a straight parlay, but smaller payouts.

Each-way bets: Rare in the US, popular in golf and horse racing

• A combo of “win” and “place” bets.
• More common in UK sportsbooks, but some U.S. books offer it for golf majors.
• Example: Bet on a golfer to win or finish top 5.

Start simple, build your betting style

If you’re just starting out, stick with moneyline or spread bets until you’re more comfortable. As you learn the ropes, parlays and props can add excitement. The more familiar you get with each type of bet, the easier it is to find value — and enjoy the game a little more. Whether you’re betting for fun or aiming for profit, knowing your bet types is the first step to betting smarter.

Also read: What are sports bets called a simple guide to betting slang and terminilogy