Types of Sports Bets Explained: Beginner Betting Guide
From moneylines to parlays, this complete guide breaks down every major sports bet type so you can wager smarter from day one.
Category: Guides · By Growl Games Editorial Team · Thu Jul 16 2026 · Updated Thu Jul 16 2026
From moneylines to parlays, this complete guide breaks down every major sports bet type so you can wager smarter from day one.
Why Understanding Bet Types Matters
Whether you are new to online betting or moving from casual flutter to something more structured, the first skill to master is not picking winners — it is understanding the different structures through which you wager. Every real money online casino and sportsbook offers a menu of bet types, and choosing the right one for the right situation is as important as identifying the right team or player.
This guide covers every major online betting format you will encounter: moneylines, point spreads, totals, parlays, props, futures, teasers, and live in-play bets. For each, we explain the mechanics, show you example maths, and flag the house edge so you know exactly what you are up against before your stake is confirmed.
Moneyline Bets: The Simplest Starting Point
A moneyline bet is the most straightforward wager available in sports: you pick which side wins. No spreads, no points, no conditions — just the final result. It is the natural entry point for anyone just beginning to earn money online through sports wagering.
How moneyline odds work in practice
Sportsbooks use two main odds formats internationally — decimal (common in the UK, Europe, and Australia) and American (used in the US). Decimal odds of 2.50 mean you receive £2.50 back for every £1 staked, including your original stake, giving you a net profit of £1.50. American odds of +150 mean a £100 bet returns £150 profit, while -150 means you must bet £150 to win £100 profit.
The gap between the favourite's implied probability and the underdog's is where the bookmaker embeds its margin — typically 4%–8% for mainstream markets on major sports. This is the online betting equivalent of the house edge.
Match: Arsenal vs Chelsea, Premier League
Odds: Arsenal 1.90 | Draw 3.40 | Chelsea 4.50
Stake: £50 on Arsenal to win
Return if correct: £50 × 1.90 = £95 (£45 net profit)
Bookmaker margin: Implied probabilities sum to ~106%, meaning roughly a 6% vig baked into this three-way market.
Point Spread Bets: Betting the Margin
The point spread is the dominant bet type in American football and basketball, and is increasingly available on the Growl Games sportsbook for international markets. Instead of simply betting who wins, you are wagering whether a team will win or lose by a specific margin.
Reading a point spread correctly
If the Kansas City Chiefs are listed at -7.5 against the Las Vegas Raiders at +7.5, the Chiefs must win by 8 or more points for a spread bet on them to pay out. A bet on the Raiders wins as long as they lose by 7 or fewer, or win outright. The vast majority of spread bets are priced at -110 on both sides — meaning a £110 wager returns £100 profit. That £10 surcharge is the bookmaker's commission (the "vig" or "juice") and represents an implied edge of approximately 4.5%.
Line: Chiefs -7.5 (-110) | Raiders +7.5 (-110)
Stake: £110 on Chiefs -7.5
Chiefs win 28–17 (margin: 11 points): Bet wins → return of £210 (£100 profit)
Chiefs win 24–20 (margin: 4 points): Bet loses — Chiefs failed to cover → £110 lost
A half-point in the spread (e.g. -7 vs -7.5) can shift the bookmaker's margin significantly — always shop lines across books.
Totals (Over/Under): Forget Who Wins
A totals bet, widely called an Over/Under, removes the winner from the equation entirely. The sportsbook sets a projected combined score for a match, and you bet whether the actual combined total will finish above (Over) or below (Under) that line.
Totals are popular because they allow you to profit from a game where you have no clear view on the winner but do have a read on the pace, weather conditions, or defensive matchup. For example, a low-scoring cricket Test series in overcast English conditions favours the Under; a high-tempo NBA Finals rematch between offence-first teams points to the Over.
Implied probability and the totals margin
Like spread bets, totals are almost always priced at -110/-110, giving the book the same ~4.5% edge. The break-even win rate for a bettor laying -110 on any side is 52.4% — something worth committing to memory before building a betting strategy around totals.
Parlays and Accumulators: High Risk, High Reward
A parlay (known as an accumulator or "acca" in the UK) chains two or more individual bets into a single wager. The odds of each leg multiply together, producing a potentially large payout from a small stake. All legs must win; a single loss kills the entire bet. This structure is popular for online betting and is one of the most marketed products by sportsbooks globally — for good reason: the house edge on parlays is substantially higher than on single bets.
The maths behind parlay value (and the edge problem)
Consider a three-leg parlay where each leg is priced at -110. The true probability of all three winning — ignoring the vig — would price the parlay at approximately +600. A fair-odds parlay of three -110 legs would return around 7.0× the stake. Most sportsbooks pay slightly below this, embedding an additional margin of 3%–8% on top of the single-bet vig. Parlays are higher-variance wagers and should be sized accordingly — never build them into your core staking plan.
When parlays can make sense
Correlated parlays — where one outcome makes another more likely, such as a high-scoring first half correlating with an Over on total points — offer genuine edge in markets where the sportsbook does not price the correlation correctly. Most books restrict these, but same-game parlays remain a grey area worth monitoring.
Prop Bets and Futures: Beyond the Final Score
Proposition bets (props) are wagers on specific outcomes within a game that are independent of the final score. Player props — such as a footballer's shot count, a quarterback's passing yards, or a tennis player's first-serve percentage — have become one of the fastest-growing segments in iGaming precisely because they allow granular wagering in any sport.
Futures bets are long-horizon wagers placed weeks or months before resolution: league champion, top goal scorer, or tournament winner. The appeal is outsized odds — a correct futures bet on a long-shot winner can pay 40/1 or higher. The trade-off is liquidity; your stake is committed for the full tournament duration, earning nothing in the interim.
Futures: understanding the field's implied probability sum
A Premier League outright winner market listing 20 teams will see all implied probabilities sum to 120%–130%, representing a bookmaker margin of 20–30% — far higher than most match markets. This is the price of the large-field, long-dated nature of the market.
Bet Type Comparison: At a Glance
Use this table to quickly identify the characteristics of each major bet type before deciding where to place your stake in a real money online casino sportsbook environment.
| Bet Type | Complexity | Typical House Edge | Best For | Risk Level |
|---|---|---|---|---|
| Moneyline | Low | 4%–8% | Beginners, single-game focus | Low–Medium |
| Point Spread | Low–Medium | ~4.5% | NFL, NBA, margin-based sports | Medium |
| Totals (O/U) | Low–Medium | ~4.5% | When winner is unclear; pace reads | Medium |
| Parlay / Acca | Medium | 8%–20%+ | Recreational, small stakes | High |
| Prop Bets | Medium–High | 5%–15% | Research-heavy bettors | Medium–High |
| Futures | Low | 20%–30% | Long-term outlook bets | High |
| Teasers | Medium–High | 6%–12% | NFL spread adjustment plays | Medium–High |
| In-Play / Live | High | 3%–6% (faster lines) | Experienced, quick-decision bettors | High |
Bankroll Management for Online Betting
Understanding bet types is only half the equation. The other half is managing how much of your bankroll you allocate to each wager. Poor staking is the primary reason skilled bettors who understand line value still lose money over time in online gambling environments.
The flat-staking model for beginners
The most durable approach for anyone beginning to play online games to earn money through sports betting is flat staking: wagering a consistent percentage of your bankroll on every bet, regardless of confidence level. Industry practitioners and the UKGC's responsible-gambling guidance both suggest a stake of 1%–3% per bet for recreational bettors, and no more than 5% even with high conviction.
Starting bankroll: £500
Stake per bet (2%): £10
After 10 losses in a row: Bankroll = £400 — still viable, still in the game
After same 10 losses at 20% per bet: Bankroll = £107 — effectively wiped out by ordinary variance
This is why staking discipline, not tip selection, is the first skill to build.
Betting systems and their limits
Progressive betting systems like the Martingale (doubling your stake after each loss) or the 1-3-2-6 positive progression look attractive on paper but do not change the underlying expected value of a negative-EV market. No casino strategy or betting system can overcome a sustained house edge; they redistribute variance rather than eliminate it. Use systems only as staking frameworks, never as win guarantees.
✓ Smart Staking Habits
- Set a fixed unit size (1%–3% of bankroll) and stick to it
- Track every bet in a log — results, odds, and reasoning
- Shop multiple sportsbooks for the best wagering odds
- Focus on bet types where your research has genuine edge
- Set a monthly loss limit before you deposit
- Understand the RTP and house edge of each market
✗ Staking Mistakes to Avoid
- Chasing losses with larger stakes to "get even"
- Betting parlays with your core bankroll allocation
- Wagering on sports or markets you haven't researched
- Ignoring the vig when assessing expected value
- Treating a winning streak as evidence you've beaten the edge
- Staking more than you can afford to lose in one session
Responsible note: Bankroll management exists to preserve your ability to enjoy online betting over time, not to guarantee profit. If you find yourself exceeding your limits regularly, treat that as a signal, not a phase. Visit BeGambleAware.org for independent support.
Why Growl Games for Online Betting
Growl Games brings together a full sportsbook covering major leagues across football, basketball, tennis, and more, alongside a live casino powered by Evolution Gaming's live dealer tables — all in one account. Whether you are placing your first moneyline or managing a parlay, Growl Games offers fast withdrawals and a competitive welcome bonus designed for serious bettors who want reliability alongside range.
Frequently Asked Questions
What is the easiest type of sports bet for beginners?
The moneyline bet is the simplest entry point for beginners. You simply pick which team or player wins the contest. There are no spreads to calculate and no conditions to meet beyond the final result — making it the ideal starting point for real money online betting.
What is a parlay bet and how does it work?
A parlay combines two or more individual bets into a single wager. All selections must win for the bet to pay out. The upside is significantly multiplied odds; the downside is that a single losing leg eliminates the entire stake. The house edge on parlays is considerably higher than on individual bets, typically 8%–20%.
What does -110 mean in sports betting?
-110 is American odds notation indicating you must wager £110 (or $110) to win £100 profit. The extra £10 over an even-money stake represents the bookmaker's commission, commonly called the "vig" or "juice." The break-even win rate at -110 is 52.4%.
Can I earn money online through sports betting?
Yes, it is possible to earn money online via sports betting, but it requires disciplined bankroll management, understanding of odds formats, and a long-term approach. No bet type or system can eliminate the bookmaker's built-in margin; sharp bettors reduce their exposure to that margin through research and line shopping.
What is the difference between a point spread and a totals bet?
A point spread bet focuses on the margin of victory — a team must win or lose by a specified number of points. A totals bet (Over/Under) ignores the winner entirely and asks whether the combined score of both teams will be above or below a set line.
What is a teaser bet in sports betting?
A teaser is a modified parlay in American football and basketball that lets you adjust the point spread or total in your favour — typically by 6, 6.5, or 7 points — in exchange for reduced odds. Like a parlay, all legs must win for the wager to pay out, and the house edge is higher than on standard single bets.
"The bettor who understands every bet type on the menu, and chooses deliberately, will always outlast the one who picks at random — regardless of who has better tips."— Daniel Cole, Senior Sportsbook Strategist, Growl Games
Sources & Further Reading
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1UK Gambling Commission (UKGC) Industry statistics, responsible gambling guidance, and licence conditions for online betting operators in Great Britain.
gamblingcommission.gov.uk -
2Malta Gaming Authority (MGA) Regulatory framework and player protection standards for EU-licensed iGaming operators.
mga.org.mt -
3Wizard of Odds — Sports Betting Mathematics In-depth analysis of house edges, vig calculations, and break-even win rates across bet types.
wizardofodds.com -
4iGaming Business Trade publication covering market data, sportsbook operator news, and betting industry trends.
igamingbusiness.com -
5Statista — Global Sports Betting Market Data Market size figures, handle data by country, and consumer behaviour statistics for the online betting sector.
statista.com -
6SBC News Sports betting and iGaming industry news covering regulatory developments, operator updates, and product launches.
sbcnews.co.uk -
7H2 Gambling Capital Authoritative global gaming market intelligence used by regulators and operators for gross gaming revenue and handle data.
h2gc.com