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Are you new to sports betting? Still learning all of the terminology? This sports betting glossary from Bovada Sportsbook is perfect for beginners and will give you all the information needed to start betting real money on your favorite sports. Once you learn the basics, you’ll be ready to claim your $250 Sports Welcome Bonus at Bovada and cash in on all the action!  

Sports Betting Terms Explained

Although it may seem complicated at first, sports betting is actually quite easy to understand once you learn all of the key terms. Let’s take a closer look at a few of the more popular sports betting definitions; describing each of them in detail and explaining how they work. 

What is moneyline betting?

Moneyline betting is one of the simplest ways to bet on sports, as you just need to pick the winner of a specific game or event. The margin of victory makes no difference; the bet will pay out as long as your pick is victorious in the end. Since not all teams are made equal, odds makers will apply payout odds to both sides just to balance things out. This means that betting on a favorite will payout less than betting on the underdog, as there is less risk involved. 

What is point spread betting?

A point spread bet allows you to wager on the margin of victory in a particular game or event. The amount of the point spread is set by odds makers; the favorite needs to win by more than the point spread, while the underdog needs to lose by less than the point spread or win the game outright. Since a point spread is designed to level the playing field between both sides, points spread wagers usually pay out at even money. 

What is totals betting?

Rather than bet on which team will win the game, totals betting allows you to wager on the total number of points scored. Commonly referred to as an ‘over-under’, a totals bet is based on a preset amount by odds makers. Bettors can wager on whether the total score will be over or under that amount; a great option if you can’t pick a side but still want to bet on the action. 

What is futures betting?

A futures bet is a wager based on something that will happen in the future, usually determined by several factors, as opposed to a single game. There are tons of different futures bets available, ranging from which team will win the championship to who will win the league MVP award. With so many factors at play, bettors can often land huge payout odds with futures betting. 

What is props betting?

Short for proposition bet, a prop bet is a wager that is not connected to the final outcome but something that happens during of the game or event itself. Many things can be considered a prop bet, such as a player’s statistical performance, who will score first and even the coin toss. Props betting is a great way to add some extra excitement to just about any sports event. 

What is parlay betting?

The simplest way to define a parlay is that it combines multiple wagers into a single bet. Parlay betting is a high risk, high reward strategy; you need to win multiple wagers for the bet to cash, however, the payout odds get a boost with each additional bet added to the parlay. The key thing to keep in mind with parlays is that all of your selections need to win for the parlay to pay out. Parlay betting is a great strategy if you’re looking to win big as they can deliver some incredile payouts. 

What is live betting?

Have you ever missed out on placing a bet because the game had already begun? Live betting solves that problem by allowing you to continue placing bets throughout the live game. The betting odds are updated after almost every play, providing bettors with up-to-the-minute coverage. Also known as ‘in-play betting’, live betting allows you to bet real money on the action as it unfolds right in front of you! 

What are decimal betting odds?

Chances are you’re more familiar with American betting odds, but decimal betting odds are another popular option for bettors throughout the world. Decimal odds are designed to display the total return for every $1 wagered, including the money that is originally risked. This is why decimal betting odds of 2.0 is equivalent to even money, as it’s factoring in your initial $1 wager and your potential $1 return. 

Now you have an understanding of the most common sports betting terms, be sure to take advantage of Bovada’s $250 Sports Welcome Bonus. Once you are signed up, head on over to Bovada’s Sports page to begin betting on your favorite sports!