The most common type of sports bet is the point spread. A spread represents the number of points a favored team must win to cover its “spread.” Typically, a point spread is offered at odds of 11 to 10. For example, you can bet $11 on a favorite to win $100 and lose $20. A -110 favorite would pay out $100 but lose $200. In addition, a favorite is expected to win the game, so betting on it will likely be riskier.
Futures bets are made on events that will happen in the future, such as the 2020 Pro Hockey Championship. Parlay bets can be made in a round robin fashion. This strategy involves making a series of two team parlays. If Team A loses the round robin bet, you can bet on Team B plus Team C to win. Individual bets, on the other hand, are called proposition bets.
Over/under betting refers to the total, which is the combined score of the two teams at the end of a game. If a team’s combined score is 66, the under bet will win, and vice versa. A bet on a team to score less than that will result in a tie. Those who bet on a tie win will be rewarded with a payout of a half-point on the bet.