Money Line

This is the simplest of bets. Do you have an opinion on who will win? Could you at least make an educated guess? Of course you could. Easy.

What is the actual “money line” you might ask? Well, it’s the betting odds, in the form of money. If the number has a minus sign in front of it, that’s how much money you need to wager to win $100 (i.e. -150 means you must risk $150 to win $100).

If the number has a positive sign in front of it, that’s how much you’ll win from betting $100 (i.e. +200 means when you risk $100 you will win This is the underdog, the team that’s projected to lose, so it’s higher risk, but also higher $$$. And everyone loves three consecutive dollar signs.

Example

Let’s say the money line on the New England/Pittsburgh game is -140 for New England and +120 for Pittsburgh.

Josh likes New England (just for betting). Winning $100 would be great, he says. Plus, New England has beaten Pittsburgh 6 straight times.

Josh puts down $140 on New England. If he wins, he gets his money back, plus another $100.

Well, Pittsburgh won. Josh lost. If he’d put down that same $140 on Pittsburgh, he would have won $168. Thankfully, tomorrow’s another day for Jim and he can go back to hating New England.

Straight Bet

Let’s get this one straight (get it?). You’re betting on one of two things here. That’s either the spread (whether a team will win by x amount of points) or on the over/under (whether both teams combined will reach x number of points). If you’re right, you get to win some money. If not, well, there’s always next time.

Over/unders are cool because the game itself could be a blowout, but if you need to hit a point total, you’re still on the edge of your seat.

Example

The battle of Pennsylvania. Philadelphia is playing Pittsburgh. The over/under is 42.5 and the point spread is -3.5 in favor of Philadelphia. Both of these bets pay out -110, which means you’ll need to put down $110 to win $100.

Jim likes the over, but he also likes Philadelphia winning by 4 or more. Jim is very confident in a high scoring game, but less so with the spread. Two bets are placed: $110 on the over 42.5, and $55 on Philadelphia -3.5 for a total risk of $165.

Philadelphia wins 24-21, which means Jim wins the over 42.5 bet. Hello $100. However, since Philadelphia only won by 3, Jim loses his $55 bet. Jim walks away $45 richer and is feeling pretty good.

Parlay Bet

A Parlay bet is kind of like the big shebang of gambling. You’re betting on multiple games at once. And if all your bets win, you get more money than you would otherwise—much more than those games would deliver on their own. But! And it’s a big “but”, if any of your bets in the parlay lose, you lose it all. But hey, you chose the parlay because you’re crazy about the odds...and the rush of adrenaline that a parlay pumps through your bloodstream.

Example

Tony is feeling risky and decides to bet the underdog to win on all five baseball games tonight. The odds of each game multiplied against each other are a massive +13000.

Tony puts down $100.

Somehow, some way, all five underdogs win. Tony turns his $100 into $13,000. Now Tony can buy five huge TV’s to watch all of his new favorite teams play. Tony also has ‘Parlay, Parlay, Parlay’ stuck in his head permanently.

Teaser Bets

Oddsmakers are very smart people. They’re the best at what they do. And what they do is make the odds. But are they always right? No. You know this, because you’re also a smart person.

Enter: teaser bets. Teasers are most commonly placed on football and basketball games. They allow you to adjust the spread or over/under to up your chances of winning. In exchange for this, you’ll get a lower return on your money. But trust us, a teaser win packs just as much adrenaline as a parlay.

Example

Todd thinks Texas will beat Maryland but isn’t sure they’ll win by enough points to beat the spread of -10.

Todd is also eyeing the Alabama/Georgia game, and Todd is certain that both defenses will limit the scoring and knows the score will be low. The over/under sits at 57 total points.

Todd decides to take the two-team 6.5-point teaser. It only pays out at -120, but the Texas spread is now -3.5 and the Alabama/Georgia total now sits at 63.5. Texas wins by 5 and the Alabama/Georgia game finishes with 60 total points. Todd is very happy with himself because he would have lost if he didn’t do the teaser.

Spread Bets

Spread bets are where you bet not just on the winner or loser of a game, but on the point spread being “covered” or not. Point spreads make the betting for both sides a little more even. The more lopsided the teams are, the higher the point spread will be. It’s sort of like a handicap in golf.

Each game with a spread has a favorite and an underdog. The favorite has to win by a certain amount of points to cover the spread. If the point spread is -1.5 NE, then New England must win by two points or more. If they win by anything less than that or lose the game, then they did not cover the spread. Spreads can make “garbage time” abnormally exciting...or infuriating.

Example

Tampa Bay is projected to beat San Francisco by -8.5 points. They’re a heavy favorite (anything more than a touchdown typically is). The odds to bet either team at this spread are a standard -110.

Tim agrees with the oddsmakers that Tampa Bay is a much better team. He puts down $220 on them.

Tampa Bay doesn’t just cover the spread, they crush it. Tampa Bay wins by 35 and makes his $220 back plus his $200 winnings.

Over/Under (Totals)

The over/under is one of the few team-neutral betting options out there. It doesn’t matter who wins. It just matters how many total points are scored.

The over/under is the amount of points that both teams are projected to score combined. If you think they’ll surpass the over/under, you “take the over.” If you think they won’t, you “take the under.”

Example

Orlando vs. Philadelphia. The over/under is 220.5 points. You have all kinds of indifferent feelings about these team but know they shoot a ton of 3’s and play a really fast pace. The magic 8 ball says ‘all signs pointing’ to a high scoring game.

You bet $55 on the over at -110 odds. The return would be a cool $50 if 221 or more points are scored.

Well, they both decided to duke it out in the paint. There’s a whole lot more 2’s than 3’s made.

Philly wins 98-95, resulting in a disappointing under and a boring game in general. Sorry, friend. (Throws the 8 ball out the window). 

Live Betting

Live betting is also known as “in-play” wagering. This is because you’re betting on something after the game has already started.

Live betting can take the form of lines, sides, and props. Odds are updated throughout the game based on how the teams are playing. You can even wager on prop bets like if the next play will be a run or a pass, or if the drive will end in a touchdown or a field goal.

This is one of our favorites because it keeps you truly, totally, crazily in the moment.

Example

Let’s say before the game, you think Dallas will win, but you hold off on putting any money down. The pre-game money line on Dallas is -200.

During the first quarter, Dallas looks like the better team but gives up a fluky touchdown. The odds switch to Dallas being the underdog at +125. You know this Dallas team is better and will come back. You could easily say you are crazy about those odds.

You throw $25 on the Dallas money line, which pays out $56.

Two hours later, with the Cowboys up 20, you casually start spending the money in your head.

Thanks, live betting. 

Cash Outs

Just like it sounds, Cash Out is an opportunity to redeem some money. The catch? You’ll have to do it before the game ends, and you’ll have to forfeit a portion of what you would’ve won from your original bet.

Cashing out is great if you’re not sure if your bet will win, but you’re happy taking away a guaranteed profit, or at least cutting your losses. The more likely your bet is to lose, the less money you’ll be able to redeem. Conversely, the more likely you are to win, the more cash you’ll be offered to get out early.

And of course, you could always stick with your original bet, if you’re still crazy about the odds.

Example

Denver, the underdog, has odds to win the game at +220. You like this bet and put $100 on Denver to win, hoping to turn that $100 into a $220 profit.

Denver takes the lead at halftime, but it looks like the clock is about to turn midnight for Cinderella in the third quarter as they give up a quick touchdown. There’s a lot of game left for things to go wrong.

You decide to cash out with $150 profit. You might be leaving $70 on the table, but you might also be saving yourself from a total loss.

Well, just like you thought, Denver lost. They may have only lost by 3 points, and that Dallas second-half comeback may have almost given you heart palpitations, but Denver lost.

You’ll take your extra $150 and sleep well tonight. 

Future Betting

“Who’s going to win the Big Game?” is one of the most fiercely debated topics in sports, so it only makes sense that you can bet on it.

Future betting is usually reserved for big, hard-to-predict victories like a tournament, championship, or division. The further out you bet, the longer the odds. But that’s fine, because you’re crazy about them.

Example

It’s 1999. St. Louis’ preseason odds of winning the Superbowl are set at 200/1.

You like St. Louis as a sneaky good team and put $100 down. Everyone gives you a funny look, but at those odds you would be crazy not to take a chance.

Welcome destiny, the St. Louis quarterback gets hurt and a little-known backup named Kurt Warner puts together one of the finest seasons in NFL history, including the MVP award.

6 months later, you have $20,000 dollars and ride off into the sunset.

Prop Bets

A Prop Bet is a bet on something that doesn’t directly affect the final outcome of the game. Prop bets are also called proposition bets, or novelty bets. We just call them fun.

A prop bet could be anything from who wins the coin toss to how long the National Anthem is to who scores the final touchdown. Will Brady be the MVP? Will one of the offensive linemen? Anything is on the table here, people. 

Example

You love Gronk. We love Gronk. Gronk is awesome.

Gronk also catches a lot of balls. So, when you saw a prop bet predicting his number of receptions at over/under 5.5, you took the over.

Well, Gronk DID cover the over, and then he retired in all his Gronkowski glory. And since you bet $55 at -110 odds, you won $50.

Prop bets are fun, huh?