Understanding the main types of sports bets is essential for bettors who want to move from guessing to consistent, informed wagering. This article breaks down the primary markets, shows clear examples using reputable offshore books like Bovada, BetOnline, and MyBookie, and explains when each bet type is most profitable for value-seeking bettors.
Quick Classification of Bet Types
- Straight bets: Moneyline, Point Spread, Totals.
- Multiples: Parlays, Teasers, Round Robins.
- Props and Micro Markets: Player props, team props, novelty markets.
- Futures: Season-long outcomes like championships and awards.
- Live In-Play and Exotics: Same-game parlays, If bets, pleasers, and conditional wagers.
Where to Bet
Bet on all major leagues
MLB NBA NFL NHL CFL WNBA …
The site runs regular promotions and bonuses—welcome packages, odds boosts, and reload offers—that, when used strategically, improve expected value and let you experiment with new markets at lower cost. Bovada’s live in-play markets and fast updates are well-suited to momentum-based and hedge strategies, while its competitive lines on spreads, totals, and moneylines make line shopping worthwhile.
Banking is streamlined for modern bettors: crypto-friendly options speed deposits and withdrawals, and multiple fiat methods are supported for flexibility. The interface is clean on desktop and mobile, making bet placement and cash-outs straightforward. Customer support is responsive via chat and email, and the rules pages are transparent about settlement terms and market limits.
Straight Bets Moneyline Point Spread Totals
Totals Over Under — Bet whether combined points go over or under a posted number. Example: MyBookie lists Lakers vs Celtics total 218.5; if the final combined score is 220, Over wins. Totals are preferred when pace, injuries, or weather drive scoring more than game outcome.
Moneyline — Bet on the outright winner. Example: Bovada shows Yankees -150, Blue Jays +130; a $150 bet on the Yankees wins $100 profit if they win. Moneylines are ideal for sports where margin is less relevant such as baseball and soccer.
Point Spread — Bet the margin of victory. Example: BetOnline posts Chiefs -6.5 vs Raiders +6.5; a $110 bet on Chiefs at -6.5 wins $100 if the Chiefs win by 7 or more. Spreads are the backbone of NFL and NBA wagering because they balance action and isolate expected margin.
Why use straight bets: lower variance, repeatable edges, and easier EV calculation. For SEO focus: target keywords like “moneyline bets,” “point spread strategy,” and “totals betting tips.”
Best Sportsbooks
Multiples Parlays Teasers Round Robins
- Parlays combine multiple legs into a single ticket; all must win for payout. Example 3-leg parlay: Lakers ML at MyBookie (-140), Chiefs -6.5 at BetOnline (-110), Over 218.5 at Bovada (-110). Multiplying decimal equivalents yields the parlay payout that turns small stakes into large returns.
- Teasers move spreads/totals in your favor by a fixed number of points for reduced payout—popular in NFL. Example: a 6-point teaser changes a -4 favorite to +2.
- Round Robin constructs all possible smaller parlays from a set of teams, smoothing variance vs one large parlay.
Trade-off: parlays and teasers offer lottery-style upside but carry higher compounded vigorish; use them sparingly and size units accordingly.
Props and Futures Player Team Micro Markets
- Player props target individual performance metrics like passing yards or points. Example: Bovada posts a Tom Brady Over 1.5 TDs at -130; a disciplined bettor uses snap counts and red-zone tendency to find edges.
- Team props cover first team to score, margin ranges, or quarter-specific outcomes; MyBookie and BetOnline frequently list markets with sharp lines late week.
- Futures are long-term bets such as Super Bowl winners or MVP. Example: BetOnline posts Player A +700 for MVP in offseason; a $100 ticket wins $800 if Player A claims the award.
Props and futures provide asymmetric payoff structures and are ideal for bettors who track usage, depth charts, and offseason roster moves
Live In-Play Betting and Exotics
- Live in-play betting adjusts lines during the game. Example: in a tennis match Bovada’s live moneyline can flip after a service break, creating hedging opportunities. Success needs speed, low latency, and predefined live rules.
- Same-Game Parlays (SGPs) combine multiple outcomes in one game; books limit correlated legs. MyBookie and Bovada price SGPs differently—check rules and correlation limits before placing.
- Exotics like If bets, pleasers, and custom conditionals let advanced bettors craft staged exposures and hedge sequences.
In-play and exotics reward operational discipline and quick execution; they increase variance but can be profitable when you exploit timing inefficiencies
Bankroll Management and Choosing the Right Bet Type
- Unit sizing: use 1–2% units for straight bets, smaller fractions for parlays and futures.
- Line shop across Bovada, BetOnline, and MyBookie to capture half-point or better moneyline advantages. Small edges compound over a season.
- Specialize in markets where you have data or informational edges—props, totals, or a single sport.
- Record keeping: log bet, stake, odds, book, and rationale; review monthly to find leaks.
Closing takeaway: match bet type to confidence level and variance tolerance. Use straight bets for repeatable edges, props and futures for information-driven edges, and treat parlays and exotic bets as high-variance tools sized accordingly. Shop lines across Bovada, BetOnline, and MyBookie, apply disciplined bankroll rules, and your betting approach becomes scalable and measurable.