Types of Sports Bets Explained for Every Skill Level

What Are the Main Types of Sports Bets?

There are several core types of bets that make up the foundation of sports betting. These bets vary by complexity, risk, and payout structure, but each has its own place depending on your goals and experience.

Below is a breakdown of the primary types of sports bets and how they work.

Bet Type	Risk Level	Ideal for	Payout Style
Moneyline	Low	Beginners	Fixed odds
Point Spread	Medium	Strategic thinkers	Odds with handicap
Totals (O/U)	Medium	Game analysts	Odds on total points
Parlays	High	Risk-tolerant players	Exponentially stacked
Prop Bets	Medium	Event-focused viewers	Fixed or variable
Futures	High	Long-term thinkers	Long odds
Live Betting	Variable	Responsive bettors	Real-time pricing

Core Sports Bet Types Explained

This section covers the most fundamental bet types used across all major sports. These are the building blocks for any betting strategy, and understanding them is key for new or seasoned bettors.

Moneyline Bets

A moneyline bet is the most straightforward of all types of sports bets. You simply pick which team or player will win the game or match.

Example: Bet $100 on the Yankees at -120. If they win, you profit $83.33.

When to Use:

When you feel confident in a straight-up win
For lower volatility, especially on underdogs

Additional Insight:

Best for low-scoring sports like baseball or hockey, where the outcomes are tighter
Value can be limited when betting on heavy favorites
Watch line movement to spot shifting public sentiment

Point Spread Bets

Spread bets involve wagering on the margin of victory rather than just who wins. Bookmakers give one team a handicap to level the playing field.

Example: Patriots -3.5 vs. Jets +3.5. Patriots must win by 4 or more to cover.

Pros:

More value in games with strong favorites
Keeps games competitive from a betting perspective

Cons:

Requires understanding of scoring patterns
Pushes (tie against the spread) can void bets

Additional Insight:

“Hooks” (e.g., +3.5) are key; they eliminate pushes and influence outcomes
Football key numbers are 3 and 7—common winning margins
In basketball, late free throws can dramatically impact spread results

Totals (Over/Under)

With totals betting, you wager on whether the combined score will go over or under a set number.

Example: Over 45.5 in an NFL game. If the final score is 28-24, the total is 52 and the over wins.

Ideal For:

Fans who study game flow, weather, and defense
Those who don’t want to choose a winner

Additional Insight:

Weather (wind, rain) and venue (e.g., elevation in Denver) can influence totals
Live totals let you adjust after kickoff/tip-off if momentum shifts

Compound and Combo Bet Types

Here we explore bet types that combine multiple wagers into one. These options can increase both potential reward and risk, and are popular among experienced bettors looking for leverage.

Parlays

Parlays combine multiple individual bets into one ticket. All legs must win for the bet to cash.

Example: A 3-leg parlay on NFL moneylines. $50 could return $300+.

Pros:

High payouts from small stakes
Great for multi-game slates

Cons:

High risk due to cumulative requirement
One mistake kills the ticket

Additional Insight:

Odds multiply: a +200 and +150 parlay = +650 payout
Many sportsbooks limit or restrict “correlated parlays” (e.g., QB over + team win)

For maximum upside and flexibility, bet on parlays at early cash out sports betting sites. These types of sportsbooks will give you a certain amount of money to “cash out” your ticket. This is advantageous if your parlay is off to a strong start, but you don’t feel confident in the remaining bets hitting.

Teasers

Teasers are like parlays but allow you to adjust point spreads for a safer margin at a reduced payout.

Example: Tease a -7 favorite down to -1.

Additional Insight:

Common teaser sizes: 6, 6.5, or 7 points
Popular in football, especially with spreads near key numbers like 6 or 7
Lower risk, but often misunderstood; ideal for low-total matchups

Round Robin Bets

A round robin takes several bets and builds smaller parlays from all combinations.

Example: 3 selections = 3 two-leg parlays.

Additional Insight:

Great when you want parlay-style payouts without an all-or-nothing risk
Lets you win even if one leg fails
Ideal for bettors confident in a group of picks but unsure of a perfect sweep

Specialty and Alternative Sports Betting Types

Beyond the standard formats, these betting types offer unique angles—from specific in-game events to long-term season outcomes. They’re a great way to diversify your strategy and find value.

Prop Bets (Proposition Bets)

These bets focus on specific events within a game: player stats, outcomes, or milestones.

Examples:

LeBron James to score 25+ points
First team to score

Pros:

Huge variety
Often tied to player or game narratives

Additional Insight:

Can be split into Player Props, Team Props, and Game Props
Best results come from matchup research and sport-specific knowledge
Most popular during major events like the Super Bowl

Futures Bets

Futures are long-term bets on season outcomes or major events.

Example: Lakers to win the NBA Championship at +800.

Additional Insight:

Value tends to be highest before the season begins
You can hedge your position later by betting against your initial pick
Great for fans who follow teams or leagues over time

Live (In-Play) Betting

Live betting allows wagering while the game unfolds, with dynamic odds.

Example: Betting on a team to come back after a poor first half.

Additional Insight:

Best used when actively watching the game
Momentum shifts, injuries, and substitutions can present new value
Beware of delay—odds can change while you’re placing a bet

How to Choose Between Different Types of Sports Bets

With so many bet types available, it’s important to choose ones that align with your skill level, interests, and betting goals. Here’s how to narrow down your options.

Experience level: Start with moneyline or totals bets
Risk tolerance: High-risk bettors may explore parlays and futures
Knowledge of the sport: Use player insights for prop bets
Timing: Futures for long-term, live bets for real-time excitement

Tip: Always test unfamiliar bet types in low-stakes situations.

Common Mistakes with Bet Selection

Even experienced bettors can fall into common traps when selecting bet types. Below are some of the most frequent missteps and how to avoid them.

Mistake	Fix
Overusing Complex Bet Types	Master basic bets before branching into parlays or futures.
Ignoring Odds Formats	Learn how to read American, decimal, and fractional odds.
Misunderstanding Rules by Bet Type	Check bet terms and sportsbook conditions before placing wagers.

FAQs About Types of Sports Bets

Still have questions? This quick Q&A addresses the most common inquiries around the different types of sports bets and how to use them effectively.

What’s the easiest type of sports bet to start with?

Moneyline bets are the most straightforward type of sports wager for beginners.

Which types of sports bets offer the highest rewards?

Parlays and futures offer high returns due to increased risk.

Can I combine different bet types?

Yes. Round robins and parlays let you combine various sports bet types.

Are some bet types better for certain sports?

Yes. Spread betting is common in basketball and football; prop bets are popular in big events like the Super Bowl.

Match Your Preferred Sports Bet Type to Your Goals

You’ve now learned the most common types of sports bets, how they work, and when to use them. Whether you’re building a strategy around point spreads or experimenting with prop bets, putting your knowledge into practice is the next step.

For that, we recommend BetUS—the #1 sportsbook for new and experienced players. It’s easy to navigate, packed with betting options, and a great place to sharpen your skills on all major sports bet types.

Expert Guide to Types of Sports Bets

What Are the Main Types of Sports Bets?

Core Sports Bet Types Explained

Moneyline Bets

Point Spread Bets

Totals (Over/Under)

Compound and Combo Bet Types

Parlays

Teasers

Round Robin Bets

Specialty and Alternative Sports Betting Types

Prop Bets (Proposition Bets)

Futures Bets

Live (In-Play) Betting

How to Choose Between Different Types of Sports Bets

Common Mistakes with Bet Selection

FAQs About Types of Sports Bets

Match Your Preferred Sports Bet Type to Your Goals