Sports Betting Guides - Learn How to Bet on Sports in 2024

It's amazing talking to folks that are exposed to the endless wave of sportsbook ads how few actually know a thing about betting on sports.  Most sports betting guides focus on the basics such as differentiating between moneylines and spreads.  But 2024 has brought us a whole new landscape of wagering opportunities.  Let's explore the various types of sports gambling, both basic and more advanced. 

The Moneyline vs. The Spread

A moneyline is simply betting on a particular side (team) to win at a specified price.  The favorite will be represented with a minus sign (-), while the underdog will be shown with a plus sign (+). 

Example: Knicks +300 Celtics -300

Here we have the New York Knicks, a decent enough team, playing one of the best teams, the Celtics, in Boston.

The Celtics are expected to win this one and our example shows them listed at -300.  This means you will bet $300 to win $100 and will profit $100.  The $300 is returned, or maintained in your betting account, just as long as Boston wins outright. 

In this example, New York will pay out $300 on a $100 bet and that $100 bet is maintained in your account or refunded just as long as the Knicks win outright.

With the spread, we may see something similar to the following:

Example: Knicks +5.5 Celtics -5.5

Here the Knicks can still loose within 6 points (5.5) assuming you are backing New York, while the Celtics must win by at least 6 points, assuming you are backing Boston. 

The pricing is typically -110 for the favorite and +100 for the dog.

Player Prop Bets

These are becoming extremely popular but frowned upon by some state regulators when it comes to college sports.  A few states like Ohio and Iowa now prohibit betting on college player performance such as scoring, receiving and rebounds.

A typical player prop will be represented as follows:

The Nuggets Nikola Jokic's scoring total against the Clippers was coming in at Over/Under 27.5.  The pricing is typically around -114 on both the over and the under.  This means that a $100 bet typically pays around $96.  You are simply betting on whether Jokic scores more than 27.5 or less than that number. 

There are also props on specific alternative totals. 

26+ points is the favorite so the price comes in around -200.  But once you hit 30+ the payouts become more lucrative.  In this case, a $100 bet would pay out $123 on a $100 bet.  34+ pays out $242 for every $100 bet.

The Popular Same Game Parlays

Since US regulation, the Same Game Parlay or SGP has become increasingly popular.  These actually didn't really exist just a few years ago.

A typical game parlay in the NBA would offer a much higher payout with two or more teams be selected with each having to cover the spread or win outright if a moneyline bet.  Should one team (or leg of the parlay) lose, the entire bet is a loser.

With a Same Game Parlay, all selections come from within one specific matchup. These combinations tend to be pre-determined (created) by the sportsbook as opposed to gamblers coming up with their own.  SURPRISE!  The sportsbook-created SGPs tend not to come through.

Professional sports bettors frown upon parlays and "real" bookmakers, along with the pro gamblers, despise Same Game Parlays.

Futures

These usually pay out nicely.  Often times, even the favorite comes in at +200 or greater, paying $200 or more on a $100 bet.  Just understand that, depending on when the bets are placed, the results might not be known for some time. 

Odds to win the World Series are available prior to the start of the season and keep changing as the season progresses.  Understand that once you place your bet, it's locked in at that price, not the price available one or two months afterwards. 

- Tony Caliente, Gambling911.com