When betting on sports, there are two main types of bets you can make: straight bets and parlay bets. Straight bets are wagers on a single game, while parlay bets are wagers on multiple games. Both types of bets have their own advantages and disadvantages, so it’s important to understand the difference between them before you place a bet.
Straight bets
Straight bets are the most common type of bet in sports betting. They are also the simplest to understand. When you make a straight bet, you are wagering on a single game, and you will win or lose your bet based on the outcome of that game. There are two main types of straight bets: moneyline bets and point spread bets.
- Moneyline bets are wagers on which team will win the game. The odds for moneyline bets are typically expressed in American odds, which means that the odds are represented as a positive or negative number. A positive number indicates the amount of money you would win if you bet $100, while a negative number indicates the amount of money you would need to bet to win $100.
- Point spread bets are wagers on which team will win the game by a certain number of points. The odds for point spread bets are typically expressed in decimal odds, which means that the odds are represented as a number between 0 and 1. A number greater than 1 indicates the odds for the favorite, while a number less than 1 indicates the odds for the underdog.
Parlay bets
Parlay bets are wagers on multiple games. They are more complex than straight bets, but they also have the potential to pay out more money. When you make a parlay bet, you are wagering on all of the games in the parlay, and you will win or lose your bet based on the outcome of all of the games. The more games you add to a parlay, the higher the potential payout, but the lower the odds of winning.
There are two main types of parlay bets: straight parlays and round-robin parlays.
- Straight parlays are wagers on a single outcome for all of the games in the parlay. For example, you could make a straight parlay on all of the home teams to win their games. If all of the home teams win, you will win your bet. If any of the home teams lose, you will lose your bet.
- Round-robin parlays are wagers on all of the possible combinations of outcomes for the games in the parlay. For example, you could make a round-robin parlay on all of the games in a three-game parlay. This would result in four separate bets: one bet on each team to win, one bet on the home team to win and the away team to lose, one bet on the away team to win and the home team to lose, and one bet on both teams to draw.
Which type of bet should you make?
The type of bet you should make depends on your individual preferences and risk tolerance. If you are new to sports betting, it is a good idea to start with straight bets. Straight bets are easier to understand and have a higher chance of winning than parlay bets. However, parlay bets can pay out more money if you are willing to take on more risk.
If you are not sure which type of bet to make, you can always ask for help from a sportsbook employee. They will be able to help you understand the different types of bets and make a decision that is right for you.
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A straight bet is a wager on the outcome of a single event. It is the simplest and most common type of bet.
A parlay bet is a wager on the outcome of two or more events. It is more difficult to win than a straight bet, but it can also pay out a larger reward.
The advantages of a straight bet include its simplicity and its high probability of winning.
The advantages of a parlay bet include its potential for a large payout and its ability to increase excitement.
The type of bet that is right for you depends on your individual preferences and goals. If you are looking for a simple and easy-to-win bet, a straight bet is a good option. If you are looking for a more challenging bet with the potential for a bigger payout, a parlay bet is a good option.
