Online sports betting has grown into a dynamic landscape of choices and strategies. What began with simple win-or-lose wagers back in the day now includes an impressive range of betting formats, each with its own appeal and complexity. Whether you’re new to the scene or refining your approach, understanding the main types of sports bets can sharpen your decision-making and add purpose to every wager.

Let’s unpack the essential options and how they influence the modern sports betting experience.

Moneylines: The Building Block of Sports Betting

If you want the most straightforward entry path into online sports betting, start with the money line. It’s as simple as picking who you think will win. Every sportsbook displays two moneyline values—one for the favorite and one for the underdog.

Favorites appear with negative odds, like -150, meaning you’d need to bet $150 to win $100. Underdogs show positive odds, like +200, so a $100 bet could return $200. This format cuts through the noise—no points involved, just a bet on the outcome. In low-scoring sports like baseball or hockey, where margins are tight, money lines often provide cleaner edges than point spreads.

Despite its simplicity, the money line can offer serious value if you consistently identify underpriced underdogs. While most casual bettors gravitate toward favorites, the long-term edge often lies in taking calculated risks on teams the market undervalues.

Parlays: High Risk, High Reward

Parlays offer the allure of big payouts, but they require precision. You’re combining multiple bets—money lines, spreads, totals—into a single wager. To win, every leg of your parlay must hit. The more bets you add, the higher the payout… and the lower your odds of success.

A three-leg parlay might involve the Lakers to cover, the Yankees to win outright, and the Bills-Dolphins game to go over 44.5 points. Even if just one leg fails, the entire ticket loses.

Some bettors chase parlays for the thrill, but smart bettors are more strategic. Correlated parlays—where one outcome increases the likelihood of another—can squeeze extra value.

For example, if a quarterback throws for 350+ yards, it’s likely his team covers the spread, too. Some sportsbooks restrict these combinations, but where allowed, they offer sharp angles.

Same-game parlays have grown in popularity, letting you stack multiple bets within a single event. These are especially attractive on reputable online sportsbooks like FanDuel sports, which provide a streamlined experience for building complex wagers in real-time.

By combining player props, totals, and team outcomes, bettors can create high-reward tickets that reflect their read on the game’s script—all without needing to bounce between different markets.

Point Spreads: Balancing Uneven Matchups

When two teams don’t match up evenly, the point spread levels the playing field—at least in betting terms. Rather than just choosing a winner, you’re betting on how much a team will win or lose.

For example, if the Chiefs are listed at -6.5 against the Broncos, they must win by seven or more points for a bet on them to cash. A Broncos ticket would win if they lose by six or fewer—or win outright.

Spreads matter most in high-scoring sports like football and basketball. They also reflect how oddsmakers expect the game to play out. Key numbers—like 3 and 7 in NFL spreads—often become decision points, and understanding those can turn a decent bet into a smarter one.

Sharp bettors also watch how spreads move throughout the week. Early in the cycle, lines may reflect public sentiment more than actual value, creating opportunities before sharper money reshapes the market.

Totals (Over/Under): Betting on the Pace, Not the Winner

If you’re unsure who will win but have a feel for how the game will unfold, betting on totals might be your move. Also known as over/under, this market focuses solely on how many points (or goals or runs) both teams will combine to score.

Oddsmakers set a number, say 221.5, in an NBA game. You bet on whether the final total will go over or under that line. These bets reward knowledge of game tempo, weather conditions, injuries, and even officiating tendencies.

In college football, a matchup between two fast-paced offenses can soar past a total, while a rainy outdoor NFL game might struggle to hit the over. Sportsbooks adjust quickly, so catching mispriced totals requires both research and timing. Still, for bettors less interested in team allegiance and more focused on flow, totals provide a valuable alternative.

Prop Bets: Zooming in on the Details

Prop bets, or proposition bets, zero in on individual player or team performances rather than game outcomes. You might bet on how many rebounds Nikola Jokić will grab or whether a quarterback throws over 2.5 touchdowns.

Props are ideal for bettors who follow specific players or teams closely. They reward niche knowledge, like how a defense handles tight ends or whether a running back struggles against zone schemes.

Player props have exploded thanks to advanced data and player tracking. For those willing to do the homework, they provide soft spots where bookmakers can’t adjust lines fast enough—especially in less-followed sports.

To make the most of these opportunities, bettors often turn to stat-based tools, matchup reports, and trend analysis. Resources like FanDuel Research offer data-driven insights and player metrics that can help inform sharper prop betting decisions, especially when trying to gauge performance under specific game conditions.

Beyond player props, there are team props (first team to score, total team rushing yards) and game props (will the game go to overtime, total turnovers). These bets often fly under the radar and offer better odds than more traditional lines.

Futures and Live Betting: Thinking Ahead or Reacting Fast

Futures bets let you look beyond today’s action and predict long-term outcomes—like who’ll win the Super Bowl or who takes home MVP honors. Because these events are far off, odds fluctuate based on performance, injuries, and betting volume.

The earlier you bet, the better the value—if you’re right. But tying up funds for months means you should choose spots carefully. Futures aren’t just about picking winners—they’re about timing entries and sometimes hedging later.

Live betting, by contrast, thrives at the moment. Odds update constantly during the game, reflecting the action as it unfolds. If a heavy favorite falls behind early, you might grab them at a steep discount. Or if a basketball team opens ice-cold, the total could drop, offering an opportunity to hit the over once shots start falling.

Live betting requires fast decisions, a stable internet connection, and a cool head. But it rewards those who stay sharp and understand momentum shifts better than the algorithm does.

The Right Bet for the Right Situation

Each type of sports bet has its place, depending on your goals, risk appetite, and knowledge. Moneylines are great for quick calls. Point spreads offer nuance. Totals reward game flow insight. Parlays tempt with big rewards, while props and live bets let you dig deeper or react faster.

What matters most isn’t how many bets you place but how well you understand each option—and when to use it. By matching your betting style to the situation, you’ll improve your chances of long-term success.