Types of Sports Bets: Straight Bets, Parlays, and Props

A straight bet is the most basic type of sports bet, where you wager on a single outcome of a sporting event, such as the winner of a game or the total number of points scored.

A parlay bet is a type of sports bet where you wager on multiple outcomes of a sporting event, such as the winners of multiple games or the total number of points scored in multiple games.

A prop bet is a type of sports bet where you wager on a specific event or occurrence during a sporting event, such as the number of touchdowns scored by a player or the color of the Gatorade dumped on the winning coach.

Parlays have the highest potential payout because they involve multiple outcomes, which means that the odds are multiplied together. However, parlays are also more difficult to win because all of the outcomes must occur in order for the bet to be successful.

Straight bets have the lowest risk because they involve only a single outcome, which means that the odds are lower. However, straight bets also have the lowest potential payout.

A moneyline bet is a bet on the winner of a game, regardless of the margin of victory. A spread bet is a bet on the margin of victory, regardless of the winner of the game.

An over/under bet is a bet on whether the total number of points scored in a game will be over or under a certain number. A total bet is a bet on the exact number of points that will be scored by both teams in a game.

A teaser bet is a type of sports bet where the point spread or total is adjusted in favor of the bettor, in exchange for a reduced payout.

A hedge bet is a type of sports bet that is placed to reduce the risk of losing a previous bet. For example, if you have placed a bet on a team to win a game, you might place a hedge bet on the other team to win, so that you will still win some money if your original bet loses.

A futures bet is a type of sports bet where you wager on the winner of a future sporting event, such as the Super Bowl or the World Series.

A live bet is a type of sports bet that is placed during a sporting event, rather than before the event starts.

A prop bet is a type of sports bet where you wager on a specific event or occurrence during a sporting event, such as the number of touchdowns scored by a player or the color of the Gatorade dumped on the winning coach.

A round robin bet is a series of parlays that are linked together, so that if one parlay loses, the other parlays can still win.

Dutching is a strategy where the bettor places equal bets on all possible outcomes of an event, so that they are guaranteed to make a profit regardless of the outcome.

A surebet is a bet where the bettor is guaranteed to make a profit regardless of the outcome, due to differences in odds offered by different bookmakers.