Sports are a temendous source of entertainment for people all around the world. Many of these people are of the opinion that betting on sports only adds to the excitement of the game. Part of that excitement centers around the different types of bets that one is able to place.

Straight Bets

The most popular form of betting is a straight bet. In this common type of wager the bet is on the final score of the game. Typically, one team is favored over another by a point spread. The favorite team is always represented by a plus sign (+) and the underdog by a minus sign (-). For the purposes of the straight bet, the end result of the game is calculated by taking the actual score and either subtracting points from the score of the favorite or adding points to the underdog's score. This means that the favorite can lose the bet by not covering the spread but actually win the game itself and vice versa.

Parlays

A parlay bet is a wager on two or more teams. In this type of wager, all teams in the course of the entire bet must win. The original wager, along with any winnings, are re-invested on each additional game in the parlay bet. Remember that one loss in the string means that you lose the entire parlay bet. On the other hand, a winning parlay bet will pay many times over the initial amount wagered.

Round Robin Bets

In the same realm of parlay bets one will find round robin bets. Round robin bets are multi-team bets between three and ten teams which are then used to formulate as many two team parlay combinations as possible. The amount of money wagered in a round robin bet is based on each two team parlay. As in a parlay bet, if any one of your teams in the round robin loses, then any other parlay bet associated with that same team also loses.

IF bets

The best way to explain an IF bet is to describe it as two straight bets that are united by an "if" clause. An IF wager allows the bettor to make a second wager pending the outcome on the first wager placed. Both parts of the IF bet must either be for the same amount or less than the first wager. There are two types of IF bets, IF win only and IF win or tie. When a game is postponed, cancelled or considered no action, the bet is deemed a tie.

Reverse Bets

IF bets that work in both directions are called reverse bets that can be a combination of between two and four teams. Every reverse bet is double action meaning that they contain two IF bet sequences and an equal amount must be wagered on each bet.

Future Bets

A future bet is any bet placed on the outcome of events that will happen in the future. Typically, most future bets are related to the winning of some sort of championship. No payments are made on a future bet until the conclusion of the specified event.

Proposition Bets

Proposition bets were initially defined as betting on current events. However, over the years this definition has expanded to include everything from different sports to current events, reality shows and celebrities. if you can talk about it, chances are you can bet on it! For the most part, proposition bets are entertaining and should be viewed as such. They are a compliment to the traditional forms of sports wagering and are definitely an additional way to make money from a sportsbook.

No matter what type of wager you decide to place it is hard to ignore the excitement it adds to the game. The more types of wagers you know, the better your chances are to turn that excitement into cold hard cash.

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