There are a lot of ways to bet on sports, and each bet type works differently. If you only know moneylines, you're leaving options on the table. Here's a breakdown of the most common bet types, how they work, and when they're worth your attention.
Moneylines
First up, the moneyline. This is the simplest and most straightforward bet type. With a moneyline bet, you're simply picking who will win the game outright, regardless of margin. The odds for each team reflect their perceived likelihood of winning.
The favorite will have negative American odds (like -180), showing how much you need to bet to win $100. The underdog will have positive odds (+150), indicating how much you'd profit on a $100 wager. The larger the difference between the numbers, the more lopsided the matchup appears.
Moneylines are a good choice when you're confident a team will win but aren't sure about the margin. They can also offer value on underdogs you think have a real shot at an upset. Look for "+EV" (positive expected value) opportunities.
Point spreads
Point spread bets aim to level the playing field between mismatched teams. The favorite "gives" points, while the underdog "gets" them. For the favorite to cover the spread, they must win by more than the spread amount. The underdog covers by winning outright or losing by less than the spread.
The odds on spread bets are usually -110 on both sides, meaning you'd bet $110 to win $100. This is how sportsbooks maintain their edge. Sometimes you'll see -105 or -120 on one side, which is a sign sharp bettors have hammered one side and moved the line.
Betting spreads is all about the margin. In football, 3 and 7 are the most important numbers because of how scoring works (field goals and touchdowns). Getting "the hook" (half a point) on or off one of those numbers can make or break a bet.
Over/unders (totals)
With an over/under (or total) bet, you're predicting whether the combined final score will be over or under a line set by the sportsbook. Let's say the over/under for Celtics vs Lakers is 212. An over bet wins if the teams combine for 213 or more points; under hits at 211 or fewer. If it lands exactly on 212, that's a push and bets are refunded.
Totals are a nice way to bet a game without caring which team wins. Look for matchups with clashing styles — fast pace vs. slow pace, great offense vs. great defense. And in football, always check the weather. Wind and rain can tank scoring.
Prop bets
Prop (short for proposition) bets let you wager on more specific game occurrences, many of which won't even affect the final score. Popular props include an individual player's statistical performance (like a QB throwing over/under 250 yards), which team will score first, or whether the game will go to overtime.
Props are a great way to use your knowledge of matchups, player tendencies, and game scripts. You can browse today's player props with hit rates on WagerLens to spot value quickly. Look for props that correlate with your other bets — if you like an underdog +7, their QB's passing yards over makes sense too. Shop around, because different books offer different props.
Futures
Futures bets let you wager on an outcome that will be determined in the, well, future. The most common are odds to win a division, conference, or championship. You can bet these before or during a season. Odds adjust as the season goes on based on each team's performance and prospects.
Look for teams the public is undervaluing. A coaching change, a big trade, or a major injury can shift the odds and create value. And hedge when you can — if you have a 20-1 ticket on a team that makes the Finals, bet their opponent to guarantee a profit.
Parlays
Parlays let you combine multiple bets into one larger bet for a bigger potential payout. But beware - ALL the bets in a parlay must hit for it to pay. You can parlay spread bets, moneylines, totals, even props. The more bets you add, the higher the potential payout - but the chances of hitting also go down.
Stick to 2-3 leg parlays. The odds of hitting a 7-teamer are brutal. Look for correlated bets to build smarter parlays — if the Astros win big, the run line, alternate spread, and over are all more likely to hit together. Use a parlay odds calculator to check your payout before locking in.
Teasers
Teasers are a type of parlay that let you adjust the spread or total in your favor, in exchange for a lower payout. In football, you can "tease" the spread by 6, 6.5, or 7 points. So a 3-team, 6-point teaser on Vikings +7.5, Cowboys -8, and Chiefs -10 would move those to Vikings +13.5, Cowboys -2, and Chiefs -4. All must cover those adjusted spreads for the bet to hit.
The goal with teasers is to cross key numbers. Moving a spread off 3, 4, 6, 7, or 10 in the NFL (or 1, 3, 7 in the NBA) makes a real difference. But be careful — teasers are a sucker bet at most books because of how they're priced.
There are even more bet types out there (quarter/half bets, live betting, alternate lines), but these are the ones you'll use most. Start with moneylines and spreads, get comfortable, then branch out.
Track your bets, learn what works, and don't risk more than you can afford to lose. The bettors who last are the ones who treat it like a skill, not a slot machine.