Sportsbooks Online Guide to Online Sports Betting

The Sportsbooks Online guide describes the common types of wagers in sports betting:
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Side (Straight)
A Side, or Straight bet, is one of the most common wagers in sports betting. The bettor picks which team will win the game. For football, basketball, or hockey there will generally be a point spread as part of the bet. If the favorite is chosen, then the points are subtracted from the final score; and if the underdog is chosen, the points are added to the final score.
Total (Over/Under)
A total wager is a bet on the number of points scored in the game (both teams combined).
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A parlay bet is a single wager involving multiple propositions. The bettor must chose the winner of each proposition in order to win the parlay (pointspreads are applicable). Payout odds increase as the number of included propositions increases. Ordinarily, you must win all of the propositions in the bet in order to win.
Money Line
The difference between a pointspread bet and a moneyline bet is that there are no points involved. Instead, money odds are wagered on the favorite or underdog. There is a different moneyline total for either side on a money line bet, a negative side (the favorite) and a positive side (the underdog):

Green Bay -150    Chicago +140

What this means is that Green Bay is the favorite, and for every $15 you bet on Green Bay, you win $10 if they win. For every $10 you bet on Chicago, the underdog, you win $14 if they win. By offering different odds for each team, the sportsbook is able to balance action on both teams.
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A teaser bet is a single wager on two or more games where you can adjust the point spread in your favor for a greater chance of winning. For example, you can bet on 2 or more football games, but must get all of your selections correct for your teaser to win. The odds and payout increase with the number of games bet in your teaser. If you choose a 6-point teaser, you can adjust the line on the teams selected by six points for each one (-3 becomes +3, etc.). If a game in your teaser is either postponed, cancelled or ends in a 'push', then your teaser will be evaluated on the games left in the teaser which still have action. For example a four team teaser will automatically become a three team teaser and so on and the odds will be reduced accordingly from a four team teaser.
Proposition (Future)
A proposition bet is a bet offered with conditions and odds determined by an oddsmaker. These bets are usually exotic bets such as "Which quarterback will complete the most touchdown passes?", "Which team will score the first points in a game?", or "Which will complete the longest fieldgoal?".
Betting Exchanges (UK Only)
Online sports betting exchanges allow you to wager against other sports fans online. They also offer better odds than sportsbooks because each person can offer his own odds. For more information, visit the Online Bookies Betting Exchanges directory.
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