Straight bet
The most common type of bet based on a single outcome of a sporting event. There are a variety of straight bets that can be as simple as winning the event or covering a point spread.
Parlay Bet
A bet placed on a multitude of outcomes. Parlay Bets involve several bets to have a successful outcome in exchange for increased odds for a larger payout, however if a single bet is lost the entire parley is lost and no money is gained.
Future Bet
A bet placed on a future outcome of a season/series or event.
Teaser Bet
A type of parlay bet in which 2 or more teams must cover a point spread but the initial spread is moved by a certain number of points in exchange for lower odds but a higher probability of success.
Moneyline
When wagering moneyline you are simply betting on the winner of the event. This is the most straightforward wager since there is nothing to be calculated just a win or loss based on the outcome of the sporting event.
Point Spread
This is the margin of points that must be covered by the team selected. Having a positive point spread means the team may lose by no more than the points they are receiving from the spread. Subsequently. for a negative point spread the team cannot loos by more than the points they are giving.
Ex: Team A's point spread is -7 and Team B's point spread is +7.
If you chose Team A, they have to win by at least 8 points in order to cover the spread.
If you chose Team B, they can lose by up to 6 points and still cover the spread.
Totals
When betting on the total, the player determines if the game total selected by the book is too high or low by selecting either over or under for the total combined score of both teams at the end of the event.
Player Props
These are bets placed on specific players achieving specified metrics during a game.
Ex:) Chris Paul getting 6.5 rebounds. You could select under at a price of +250 or over at a price of -125
Run Line
In the most basic concept, a run line is baseball's version of the point spread. Due to the fact that the score in hockey is typically less than most other sports, the puck line is the spread for the number of goals a team may score in the game. These numbers are smaller than a typical point spread.
Just like in a point spread, based on which selection you make you will either add or subtract goals from a teams final score. If they cover, you win your bet.
Puck Line
Just like a run line, a puck line is hockey's version of the point spread. Due to the fact that the score in baseball is typically less than most other sports, the run line is the spread for the number of runs a team may score in the game. These numbers are smaller than a typical point spread.
Just like in a point spread, based on which selection you make you will either add or subtract runs from a teams final score. If they cover, you win your bet.
Live or In-play betting
These are bets placed during a live ongoing event meaning that as the game progresses the probability is affected as teams or players score. This affects the odds and causes the line to move rapidly, changing the payout for any given market.
Push
A push is when the outcome is neither a win or a loss such as a tie game or neither side of the point spread was covered and finished right on the line.