Sports Betting 101 – Understanding the Different Types of Bets at a Sportsbook

Aug 5, 2022 Gambling


If you’ve ever visited a sportsbook, you’ve probably noticed the different types of bets they offer. There are money lines, middle lines, Future bets, and Layoff accounts. What’s the difference? Let’s discuss these types of bets in detail. There’s also more to sportsbooks than just your favorite team. Here are some of the most common ones:

Bets are placed on sporting events

A sportsbook is a business where bettors place bets on sporting events. A sportsbook collects vigorish from losing bets. The vigorish is also referred to as juice in slang terms. In the United States, sports betting has been legalized in 20 states. It started as a black market in Nevada and Delaware, but is now legal in most states.

There are middle and money lines

You may be wondering how the money line is determined. It is a number that is calculated based on the amount of money bet on a team or game. Typically, there are three sets of numbers in sports betting: point spread, money line, and total. The difference between the three sets of numbers is called the “vig.” The vig is the amount of money the sportsbook will pay to the winning team.

Future bets

If you have an interest in placing wagers on a sporting event that will happen in the future, you might want to consider placing future bets on that event. Such bets are generally settled after the game occurs. Some betting sites make their markets live a week or two before the event. Some sportsbook odds are even published several months before the start of the season. The term “futures bet” is self-explanatory, but there are a few differences between betting sites.

Layoff accounts are a type of account at a sportsbook

Many bookies have a layoff account available to protect their profits from bets that have been placed against the spread. Layoff accounts are particularly helpful in college football, which represents the majority of U.S. betting. In other words, a layoff account helps sportsbooks minimize their overall losses when betting against the spread. But before you go about using a layoff account, it’s important to understand how they work.

vig is the main way sportsbooks make a profit

The primary way that sportsbooks make money is by charging a “vig,” or fixed percentage of the winnings, on all bets. While vig is typically equal for both sides of a bet, it is adjusted when the sportsbook expects that more people will bet one side over the other. The result is that you can lose a lot of money by betting on a team that’s favored to win, while making a lot of money in the process. Fortunately, there are some things that you can do to minimize your vig and maximize your profit on your sports wagers.

Legalization of sports betting in various states

Many states are considering legalizing sports betting, but only a few have actually passed laws. While some have made progress, others are mired in debates and disagreements with various stakeholder groups. If you are interested in betting on sporting events, Ohio has recently become one of those states. Ohio Governor Mike DeWine signed legislation allowing sports betting on December 22 and mobile sports betting is scheduled to begin on January 1, 2023.