Types of Bets, Explained Simply
Walk up to a betting window or open an app and you will see a wall of options: moneylines, spreads, totals, parlays, props. They all boil down to a handful of basic ideas. This guide explains the main bet types, what it takes for each one to win, and where beginners usually trip up.
Moneyline: Pick the Winner
The moneyline is the simplest bet in sports: choose who wins the game, straight up. Favorites pay less, underdogs pay more, and there is no margin of victory to worry about. A -180 favorite needs to win by any score; a +160 underdog just needs to win at all.
Point Spread: Beat the Number
The spread levels the field by giving the underdog a head start. If a team is -6.5, it must win by seven or more for your ticket to cash. The underdog at +6.5 can lose by six and still cover. Most spread bets are priced near -110 on both sides, so you win roughly $91 for every $100 risked.
Totals, Parlays and Props
A totals bet, or over/under, is a wager on the combined score of both teams. Parlays chain several bets into one ticket with a bigger payout — but every leg must win, which is why they are entertainment, not a strategy. Prop bets cover events inside the game, from a player's yards to the length of the anthem.
| Bet type | How it wins | Typical price | Beginner risk |
|---|---|---|---|
| Moneyline | Your team wins the game | Varies by matchup | Low |
| Point spread | Your team beats the number | Around -110 | Low |
| Total (over/under) | Combined score beats the line | Around -110 | Low |
| Parlay | Every leg on the ticket wins | Multiplied odds | High |
| Prop | A specific in-game event hits | Varies widely | Medium |
Start with moneylines and spreads on games you already follow. Once those feel routine, totals are a natural next step — and parlays are best treated as a small, fun side bet rather than a plan.
