Everything You Need to Know About Betting Types
Sports betting attracts millions of enthusiasts who enjoy the thrill of predicting the outcomes of sporting events. Whether you're a seasoned sports bettor or a newcomer, understanding sports betting terminology and concepts is crucial for making informed decisions. One term you might have encountered is SU. So, what does SU mean in betting?
Understanding Sports Betting Basics
Before diving into advanced concepts, it's important to grasp the fundamentals of sports betting. At its core, sports betting involves placing a wager on the outcome of a sporting event. The outcome can be as straightforward as predicting which team will win or more complex, such as how many points will be scored.
Key Terms:
- Betting Odds: Numerical expressions representing the likelihood of an event occurring.
- Moneyline Bet: A wager on which team will win straight without considering the point spread.
- Point Spread: A handicap placed on the favored team to level the playing field.
Understanding these basics will set the foundation for more advanced topics like straight-up betting, point spread betting, and more.
Types of Sports Betting
Sports betting offers a variety of wagering options to suit different preferences and strategies. Here are some common types:
Moneyline Bets
A moneyline bet is the simplest form of sports wagering. You pick the team to win the game outright. The betting odds determine your potential payout.
Example:
- New England Patriots: -150
- Kansas City Chiefs: +130
In this case, the Patriots are the favored team. You need to bet $150 to win $100 on the Patriots, while a $100 bet on the Chiefs would win you $130 if they win outright.
Point Spread Betting
Point spread betting introduces a handicap to even out the odds between two mismatched teams. The point spread represents the number of points by which the favored team must win.
Example:
- Kansas City Chiefs: -7
- New England Patriots: +7
Here, the Chiefs must win by more than seven points for a bet on them to pay off.
Totals (Over/Under)
You bet on whether the total combined score of both teams will be over or under a specified amount.
Prop Bets
Short for proposition bets, prop bets focus on specific events within a game, such as which player will score the first touchdown.
Futures Bets
Futures bets involve wagering on events that will happen in the future, like who will win the Super Bowl.
Comparing Betting Types
| Bet Type | Definition | Example |
|---|---|---|
| Moneyline Bet | Wager on which team will win outright | Bet $100 on Chiefs at -150 to win $66.67 if they win outright |
| Point Spread Bet | Bet on the margin of victory | Bet on Chiefs -7 to cover the spread |
| Over/Under (Totals) | Bet on the combined score being over/under a number | Bet on over 50 points in the game |
| Prop Bet | Wager on specific events within a game | Bet on Patrick Mahomes to throw over 300 yards |
| Futures Bet | Bet on long-term outcomes | Bet on Chiefs to win the Super Bowl |
Straight-Up (SU) Betting
What Does SU Mean in Betting?
SU stands for Straight-Up. In sports betting, a straight-up bet means you're picking a team to win the game without any point spreads involved. It's synonymous with a moneyline wager.
Key Points:
- Straight-Up Betting: Betting on a team to win outright.
- Team's SU Record: Reflects the actual wins and losses without considering the point spread.
Importance of SU Betting
- Simplicity: Ideal for beginners due to its straightforward nature.
- Applicability: Common in sports like baseball and hockey, where point spreads are less prevalent.
Example:
- In a hypothetical NFL game between the Kansas City Chiefs and the New England Patriots, betting SU on the Chiefs means you believe they will win the game regardless of the number of points they win by.
Point Spread Betting
Point spread betting is one of the most popular forms of wagering in sports like football and basketball.
Understanding the Point Spread
- Favored Team: Indicated by a minus sign (-) and must win by more than the point spread.
- Underdog: Indicated by a plus sign (+) and can win the bet by winning outright or losing by less than the point spread.
Example:
- Kansas City Chiefs: -7
- New England Patriots: +7
If you bet on the Chiefs, they need to win by more than seven points. If you bet on the Patriots, they can lose by up to seven points or win the game.
Half Points
Sometimes, point spreads include a half point (e.g., -7.5) to eliminate the possibility of a tie, known as a push.
Point Spreads in Different Sports
- Basketball Games: Point spreads can be higher due to the high-scoring nature.
- College Football: Often features larger point spreads due to mismatches in team quality.
Sports Betting Odds and Payouts
Understanding sports betting odds is crucial for evaluating potential payouts.
American Odds
Expressed as positive or negative numbers:
- Negative Odds (-): Indicates how much you need to bet to win $100.
- Positive Odds (+): Indicates how much you can win on a $100 bet.
Decimal Odds
Common in Europe and Australia, decimal odds represent the total payout, including the original stake.
Calculating Payouts
- Negative Odds: Payout = (Stake / Odds) * 100 + Stake
- Positive Odds: Payout = (Stake * Odds) / 100 + Stake
Example:
- Betting $100 on the Chiefs at -150: Potential profit is $66.67.
- Betting $100 on the Patriots at +130: Potential profit is $130.
Advanced Sports Betting Concepts
Against the Spread (ATS) Betting
ATS refers to betting on whether a team will cover the point spread, not just win the game.
- Team Covers: When the favored team wins by more than the point spread.
- Bad Beat: Losing a bet due to a late score affecting the point spread outcome.
Hedging and Line Shopping
- Hedging: Placing bets on the opposite outcome to minimize losses.
- Line Shopping: Comparing betting lines across different sportsbooks to find the most favorable odds.
Spread Betting vs. Points Betting
While they may sound similar, spread betting and points betting are different:
- Spread Betting: Involves betting against the point spread.
- Points Betting: A high-risk, high-reward form where winnings or losses can vary based on the margin of victory.
Sports Betting Strategies
Betting on Favored Teams
Betting on the favored team can seem like a safe option, but it often comes with lower favorable odds.
- Assessing Value: Determine if the potential payout justifies the risk.
- Home Field Advantage: Consider how playing at home affects the team's performance.
Betting on Underdogs
Underdogs can offer higher payouts due to longer odds.
- Identifying Opportunities: Look for underdogs with strong defenses or improving form.
- Analyzing the Amount of Money: Consider how public perception affects the odds.
Hedging Bets
Hedging allows you to secure a profit or minimize losses by betting on the opposite outcome.
- Example: After placing a futures bet on a team to win the Super Bowl, you can hedge by betting on their opponent in the final game.
Line Shopping
Maximize your potential returns by comparing odds from different sportsbooks.
- Closing Line: The final odds before the game starts, which can offer insights into betting trends.
Betting on Specific Sports
Football (NFL and College Football)
- Point Spreads: Widely used due to the scoring system.
- Totals: Over/Under bets on the final score.
- Prop Bets: Wagers on specific events like the first team to score.
Baseball
- Moneyline Bets: Common due to low scoring.
- Run Line: A form of point spread set at +/-1.5 runs.
- Baseball Games: Starting pitchers heavily influence the odds.
Basketball
- Point Spreads: Significant due to high scores.
- Half Points: Often used to avoid pushes.
- Basketball Games: Player injuries can drastically affect the outcome.
Hockey
- Moneyline Bets: Preferred due to low scoring.
- Puck Line: A fixed point spread of 1.5 goals.
- Totals: Over/Under on total goals.
Sports Betting Resources
Sports Betting Glossary
Familiarize yourself with our sports betting glossary to understand terms like:
- Dime Line: A 10-cent difference between the favorite and underdog odds.
- Buy Points: Adjusting the point spread in exchange for different odds.
Handicap Sports
- Handicapping involves analyzing various factors to predict outcomes.
- Professional Bettor Techniques: Use statistical models and trends.
- Betting Perspective: Consider historical data and situational factors.
Sports Betting Terms
Knowing the lingo enhances your betting experience.
- Straight Bet: A single wager on one outcome.
- Exotic Wager: Bets that are not straight bets, such as parlays or teasers.
Mastering sports betting requires understanding various concepts, from basic bet types to advanced strategies. Knowing what SU means in betting is a step toward becoming a more informed bettor. Whether you're betting on the Kansas City Chiefs in a hypothetical NFL game or analyzing the point spread in a college football matchup, knowledge is your most valuable asset.
Always remember:
- Straight-Up Betting focuses on picking a team to win without point spreads.
- Point Spread Betting adds a layer of complexity by introducing a handicap.
- Sports Betting Odds determine potential payouts and reflect the probability of outcomes.
By leveraging resources like our sports betting glossary and staying informed about sports betting terms, you can make smarter wagers. Whether you prefer betting on a favored team or seeking value in underdogs, always bet responsibly and enjoy the thrill of the game.
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Meet our Authors
Paruyr Shahbazyan
Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.
In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content.
Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.
| Experience | Year |
| Engaged in private entrepreneurship | 2000-2013 |
| Founder and President at Bookmaker Rating, an online platform focused on sports and betting | 2013-2020 |
| Co-founder at Azuro, a decentralized betting protocol | 2022 |
"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports."
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Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.
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Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.
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Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.
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Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.
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Cristina Varela Galan
Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project
“Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.
Nick Ashbourne
Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.
Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022.
Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.
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Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.
Anna Kravtcova
Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.
