Moneyline
This is the easiest real money sports bet one can make. First, pick which team or which athlete, like in golf, will win their game or contest. If they win, your betting slip is a winner.
An example of a moneyline wager would look like this:
If you believe the Raptors (favourites) are going to win, you’d have to wager $115 to win $100. If you believe the Bucks (underdogs) are going to win, you’d wager $100 to win $105. It’s as simple as that.
Point Spreads
A point spread bet is very popular when it comes to real money sports betting on NFL Sundays. While it’s more challenging for beginners, experienced sports bettors often prefer point spread wagers because the odds are typically better.
Here’s an example of a point spread wager:
- Patriots +3.5 | Dolphins win 33-30 = Patriots +3.5 point spread ticket is a winner
- Dolphins -3.5 |Dolphins win 34-30 = Dolphins -3.5 point spread ticket is a winner
If you believe the Dolphins are going to win, Miami must “cover 3.5 points” and win by four or more points for the bet slip to cash. If you believe the Patriots can cover +3.5, then you think New England will lose by three or fewer points OR beat the Dolphins. If you believe they can beat the Dolphins outright, you may be interested in a moneyline bet where the odds are better.
Totals
These kinds of bets don’t depend on which team wins the game. Instead, they depend on the total number of points, runs or goals scored by both teams.
For example, if the Stampeders-Blue Bombers point total is set at 50.5, you can bet that the combined score at the end of the game will be either OVER 50.5 or UNDER 50.5.
So, if the Stampeders-Blue Bombers final was 25-24 and you bet the UNDER, your ticket is a winner because the combined total equals 49 points, which is UNDER the set total of 50.5.
Teasers
Another real money sports betting option is a teaser. This type of bet allows you to pick three or more teams, but they must all beat a specific spread in order for your bet to win. Sportsbooks give additional points over the regular spread for teasers. Teaser cards pay off at lower odds because of the more attractive spreads they offer bettors.
Let’s head to the NBA for an example:
- Bucks -11 favourites over Cavs
- Lakers -10 favourites over Timberwolves
For both the Bucks and Lakers to cover double-digit points is a lot to ask when it comes to an NBA wager. However, if we tease these two spreads down four points, to Bucks -7 and Lakers -6, and if Milwaukee wins by eight points or more and Los Angeles wins by seven or more, our bet slip cashes. Plus, because we need two outcomes to occur to win, odds improve.
Parlays
The real money sports betting parlay option allows you to bet on multiple teams, but each team must win in order for the bet slip to cash. However, because you’re taking on more risk, in the form of needing more teams to win, the odds are better.
For example, let’s say you want to wager on a three-team NHL parlay:
- Blackhawks -165
- Oilers -130
- Avalanche -170
If all those favourites win on a $100 three-team parlay bet, the ticket wins $351.30.
Futures
If you think you know who is going to win baseball’s World Series before the start of the season, a futures bet may be of interest. As the name implies, you are betting on a future event to occur. For example, baseball World Series futures would look like this:
- Yankees +350
- Dodgers +400
- Astros +850
So, if you believe the Yankees will win the World Series and wager $100 and New York raises the trophy at the season’s end, you would win $350. Just remember how injuries, suspensions, and depth chart changes can impact a futures bet as a long season can play out.
