Moneylines, Spreads, Parlays, and Props: Every Common Bet Type Explained
Open any sportsbook app and you'll see a dozen ways to bet on the same game. Here's what each one actually means, in plain terms, with an example.
Moneyline — just pick the winner
The simplest bet: pick who wins, straight up, no point spread involved. Odds are higher on underdogs and lower on favorites (see our guide to odds). Example: Team A -180 vs. Team B +150 — betting Team A wins less per dollar because they're favored to win outright.
Point spread — betting on the margin
The spread handicaps the favorite so both sides are closer to an even-money bet. Example: Team A -6.5 means Team A must win by 7+ points for that bet to pay; betting Team B +6.5 pays out if Team B wins outright or loses by 6 or fewer points. The ".5" exists specifically to avoid ties ("pushes").
Totals (over/under) — betting on combined score
Instead of picking a side, you bet whether the combined score of both teams will go over or under a number set by the book, e.g. Over/Under 47.5 points.
Parlays — combining multiple bets into one
A parlay links two or more bets together; all of them have to win for the parlay to pay out, but the payout multiplies with each added leg. A 3-leg parlay at roughly -110 odds each pays out around 6-to-1 — much higher than any single bet — but the probability of hitting all three drops fast. Sportsbooks make a larger built-in margin on parlays than on single bets, which is exactly why they're promoted so heavily.
Player and team props — betting on specific stats, not the final result
A "prop" (proposition bet) is a wager on something other than the final score — a player's total points, whether a specific player scores first, or a team's total rebounds. Props are popular because they let you bet on a specific favorite player rather than the game outcome.
Futures — betting on an outcome weeks or months away
Futures are long-term bets, like which team wins the championship before the season starts. Your money is tied up until the outcome is settled, so futures should be sized differently than single-game bets — factor the tied-up time into your bankroll planning.
Live (in-play) betting — betting while the game is happening
Odds update in real time as the game unfolds, letting you bet on what happens next (next score, next quarter's total, etc.). It's fast-paced and easy to bet impulsively — the same bankroll rules apply, arguably more strictly, since decisions happen in seconds rather than with time to think.
Frequently asked questions
Which bet type is best for beginners?
Moneyline bets are the simplest to understand, since you're just picking a winner — a reasonable starting point before moving on to spreads or totals.
Why do sportsbooks push parlays so heavily?
Parlays carry a larger built-in margin for the book than single bets do, since every leg must hit. The same reason the payouts look attractive is the same reason they're promoted so aggressively.
What happens if one leg of a parlay pushes (ties)?
Most books remove that leg and recalculate the payout from the remaining legs, rather than voiding the whole bet — but this varies by operator, so check the specific terms.
Can I cash out a bet before the game ends?
Many operators offer a "cash out" feature for a partial, guaranteed amount before the event finishes. It's a convenience option, not a strategy that beats the underlying math of the bet.