Welcome to the next part of our introduction to sports betting part 2! Here at BallisLife, our goal is to provide you with accurate and knowledgeable information when it comes to betting. If you are new, or experienced, the goal is to explain sports betting to the best of our ability with integrity and purpose.
In the last article, we broke down types of bets, such as Money line, Point Spread, Futures, Parlays, and total. In case you missed the last article, you can find it here: Types of Bets: Part 1.
Types of Bets
Since the legalization of sports betting in 2018, the unique bets that a someone can make has increased. For example, depending on what state and sports book, there are bets made daily on players, situations, games, drafts, and so forth. It’s important to reiterate the importance of wagering your funds within a legal sports book in your state. Below we will discuss various types of bets, such as Same Game Parlays, Round Robin, Props, and live betting.
Prop bet stands for proposition bets and have become increasingly popular. Instead of betting on a game, a prop bet is the outcome of how a particular player performs in that game or event. Instead of wagering on a money line, spread, or totals, you can focus on one player, or combine them together into a Same Game Parlay, which will be discussed below. For example, let's focus on the New York Liberty vs. Las Vegas Aces game tonight.
In order to place a prop bet, you would go to all sports, WNBA, click on the Liberty/Aces game, and head to player points. Along with player points, you will notice player rebounds, player assists, and game props.
Those are examples of player props in a sportsbook.
For example, you can bet on player points, rebounds, and assists in this case. In fact, you are able to bet if a certain player will be OVER or UNDER a certain number of points. For example, if you wish to bet on how Chelsea Grey performs tonight, the odds are (-165) Over 13.5 Points, or (+135) Under 13.5 Points. In this case, Grey is favored to score at least 13.5 points or over, and anything under 13.5 is not favored. It's important to follow player trends, stats, team games, opponent matchups, and home/road matchups in determining a prop bet.
Same Game Parlay (SGP)
We discussed parlays in the previous article, and Same Game Parlays are a similar concept. Instead of grouping bets from different sporting event, SGPs take bets from the same game and groups them into one. In a nutshell, you are betting on multiple outcomes when it comes to an event or game. With Same Game Parlay, you will know the outcome of your bets within one game, instead on waiting for others to finish. Additionally, the more legs you bet on, the better odds you have of cashing out big. For example, we will break down the New York Liberty vs. Las Vegas Aces game tonight. In order to have a Same Game Parlay, make sure to click the SGP button to ensure it's all on the same slip.
Let's take the example of the images above for the Liberty/Aces game and an example in baseball.
You can see here how to click on the Same Game Parlay in green, and how to stack multiple props into one single bet. In addition, the more legs (bets) you add, the higher the odds the outcome will have. Same Game Parlay can be fun, and less risky if you put a small amount of your bankroll. However, putting most of your bankroll or a large wager on a same game parlay can be extremely risky due to the higher odds, especially if you add more legs. For example, when someone says they wagered on a "10 legger," that typically means they placed 10 separate player prop bets into one bet slip.
Round Robin is exactly what it sounds like. Much like a sports tournament in basketball or other sports, it is comparable to that format.
Round Robins are one my favorite types of bets and is considered for bettors who are like to play it safe. Round Robins are typically less risky and come with lower payouts than a parlay. Although a Round Robin is a less risky avenue, calculating the payout can be quite tricky. Also, this type of bet takes multiple parlays, combines them into one bet, and you can decide how many combinations you want to wager on. In addition, it covers multiple outcomes, and some consider this an effective betting strategy. In addition, you can add more teams, which creates more combinations, which will lead to a bigger chance of hitting at least one of those. Let's take a look below.
This is an example of a Parlay with odds or +899.
This is an example of a Round Robin. You can pick to bet on a 2-pick round robin, 3 pick parlay, or all combinations.
An example of the 2 Pick Round Robin would include the following, Storm + Liberty, Storm + Fever, Liberty + Fever. If you win 2 out of the 3 bets, you will walk away with earnings, however, not as much. The amount of money profited will depend on the amount wagered as well. Also, with all combinations, it factors in the number of teams in the parlay, the number of parlays, the bet per parlay, and that determines your winnings/combos. The more combinations and teams added, brings more risk.
The 4x simply means that you are making four bets. That includes three two team parlays and 1 three-team parlay. To win 4x, if you placed $20, you would win $122.77.
Live bets are pretty simple. It means you can place a bet on a game or player during the middle of a game and is usually extremely risky. Additionally, it allows you to make a bet in real time as the game goes on. For example, you can live bet the money line, spread, totals, props, and the next outcome (if the next basket will be a 2 or 3 pointer). It's important to know the odds are always changing and are dynamic. This means, you have to act quick if you believe a certain outcome will happen. If a game is closer to the end, and a certain team is winning or projected to win, the odds increase negatively very quickly.
For example, we will use the Boston Celtics the Miami Heat. It's possible the Celtics are favored and are down points in the middle of the game. Some bettors will wait for the Celtics Money line to become negative (for example +500) and hopes that Boston will win the game. This gives you the chance to capitalize on a potential outcome in real time, and it's a fun way to wager on sports.
Stay tuned for more Betting Advice and information. For the best betting strategies, click here.
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Sara Jane is a full-time content creator, focusing on both college basketball, the NBA, NFL, and writer of Ballislife.com. Don’t forget to follow her on Twitter/YouTube/Kick/Twitch/Instagram: @GGirlSports. She is also on PIKKIT Sports: @GGirl.
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