Do you bet on your favourite team, even though they don’t win that often? Or should you try your hand at a moneyline bet? If you are mulling over terms you don’t quite understand then check out the below overview which summarises some of the best bet options for beginners.
The perfect pick for those new to wagering on games, the phrase ‘show me the money’ is one to remember. In essence, a moneyline bet is literally just picking the singular winner from a game, in the hopes of winning big. You’ll have to choose between two teams, which will have a clear-cut favourite or underdog (more on that below), and that’s as simple as it gets.
The Underdog vs The Favourite
Not just a cliché for superhero movies, an odds maker will divide bets for teams in to two and name one team as the underdog and the other as the favourite, based on past performances. The favourite is the team who is a clear option to win the match and will receive a minus sign besides their name. The underdogs are expected to lose, and as such will have a clearly marked plus besides them.
Point Spread Betting
When it comes to placing a wager on the favourite, or the underdogs, one of the most popular options is to bet on the margin of victory expected via a point spread. In a point spread the favoured team will give points, while the underdog team will get points. i.e.: Your favourite football team has -7 beside their name, and if you do a point spread bet, then your team will need to win by 8 or higher points for you to win money – or win by exactly 7 points for you to get your initial bet back. If the underdog team is bet on, however, and have a -6 expectancy, then they’ll need to win the game outright, or they’ll have to lose by six or fewer points in order for you to make your money back.
A prop bet is a proposition bet, which is where you wager money on a single player or game occurrence (or non-occurrence). It’s different to betting on teams as the outcome of the game is irrelevant to the wager you make. You can bet on a player scoring points, a penalty being given, and even which team will score first. It’s quite specific and a great option for those new to making wagers, since those placing the bet can pick a popular player who they know is likely to score, to put their money on.
Future Bets / Outright Bets
Lastly, for beginners who have the patience, future bets (also known as outright bets) are an option – especially if your favourite team is geared to win. In a nutshell, future bets are wagers placed on an entire season or competition league for a team. By betting this way, your initial wager is not affected by a single match (unless it is an elimination match).