Online sports betting is one of the most exciting and entertaining activities you can try. But to maximize your chances, you should be aware of all the different betting types your preferred gambling site offers.
In our case, we will look at popular betting options from BetMGM. Are you ready to become an expert and exploit some sharp betting?
What are the BetMGM House Rules?
Before diving into the various types of bets, it’s essential to understand fundamental betting rules. They vary but site, but luckily, BetMGM has a robust section covering all the rules.
There, you can check out all the different rules of the betting platform, as well as each available sport. This gives you an incredible opportunity to expand your knowledge and make the best out of your gambling experience at BetMGM.
What Types of Sports Bets Does BetMGM Offer?
Using BetMGM as our example, we will go over 7 popular betting options available on the site. You should become fully versed in each type before making any significant wagers.
Futures bets, also known as Las Vegas futures, is betting on any outcome, event, championship or series that will occur at at future date. These types of bets cover the result of a specific competition over a more extended period, usually an entire season. You can see in the below example, we are betting on the Chicago Bears to win the Super Bowl at the end of the NFL Season.
Betting on the Bears to win the Super Bowl would bring us an enormous return. But of course, this is not likely to happen, hence the very high odds. Most futures come with exceptional odds, which make them appealing among bettors wanting large returns or season long wagers to track.
Moneyline / Straight / Game Line Bets
The moneyline, also known as a straight bet or game line bet, is the most straightforward bet you can place in BetMGM or any sportsbook. You are basically choosing who will be the winner of a particular game.
The favorite to win the game is labeled with a minus sign, whereas the underdog is listed with a plus sign. If you see a large moneyline odds differential, this would indicate the two teams are not evenly matched and there is a high chance for the underdog to get blown out.
You can check out an example of a moneyline below. We have chosen the Chicago Blackhawks, the underdog, to win the game outright. Since we are taking a heavily outmatched underdog, an outright win would yield a significant return.
Parlays are probably the favorite betting option on almost all American gambling sites. A parlay bet consists of two or more individual wagers linked together. Each individual wager must win in order for the parley to be a winner. The more selections added to a parlay, the higher the potential payout.
If you are relatively new to online betting, you are probably wondering what is a prop bet? Prop bets have quickly become some of the most favorite bets among players in the US.
Props, or proposition bets, are a question posed by a sportsbook with the bettor choosing a side. An example of a prop bet may be “Will Justin Fields throw for 250+ yards in Sunday’s game?” As a better, you choose a side, either he will or he won’t.
These bets often focus on individual performances or segmented parts of a game.
Above, you can see we picked David Montgomery to be the first player to score in a touchdown in the 49ers vs. Bears game. With the odds extremely attractive, standing at +900, we would profit handsomely if he does in fact score the first TD.
The BetMGM round robin is the perfect bet if you aren’t all that confident in all your predictions. This is a parlay type bet, but you can win even if one of your selections is incorrect.
Once you have entered at least three or more picks (up to eight total) on the bet slip, the Round Robin option will be available. Select the Round Robin tab to change your bet from a parlay to a Round Robin.
This type of betting is a bit more complex and offers additional options to bettors. Its best to begin with more basic betting types before jumping into these types of bets.
Points spread bets are another simple, yet profitable type of bet that the sharks use to generate a consistent profit.
The point spread is meant to even the gap between the favorite and underdog. The favorite team, listed with a minus sign, will need to win by a specific number of points/goals which is predetermined by the sportsbook. The underdog, listed with a plus sign, has to either win the game outright or lose the game by fewer points than the point spread.
Over / Under Totals
Over / Under Point totals are another common betting option with any sportsbook. With this bet type, you must predict whether the total number of points / goals scored will be over or under the line set by the sportsbook.
This is a great option if you want to really ramp up excitement at the end of a game when teams are approaching the predetermined point total.
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