There are many ways to bet on sporting events, whether online or at a land-based casino. Some betting methods are simple and straightforward, others are more complex, some even exotic so to speak. However, a newcomer to sports betting must understand betting structure before risking any money. The basic, or most common bets are as follows:

THE STRAIGHT BET:

A straight bet can be a wager on one of two opponents in let's say a tennis or boxing match. This is commonly known as a fixed odds bet, meaning a bet in which the odds are fixed when the bet is placed.

MONEY LINE:

In money line betting the bettor takes odds for betting on the underdog, and gives odds for taking the favorite. Money line is actually a straight bet, since you are risking more to win less, or vice-versa, depending on whether your bet is on the favorite or underdog.

As an example, if the money line favors the New York Yankees, since they figure to win over a weaker team, and the money line is $200, you would need to bet the money line, to win $100. The reverse would be true if you bet on the weaker team; betting $100 to win $200, for instance.

OVER/UNDER:

Over/Under is a popular way to bet on a game if you are not confident in picking a particular winner, because in Over/Under you are betting on whether the final score will be over or under in accordance with the odds predicted prior to the game. In other words, the winning bet is predicated on the combined scores, or total points scored by both teams. Example: The Over/Under in a game is set at 55. Over bettors can win if they bet at least 56, and under bettors collect if they bet no higher than 54.

THE PARLAY:

This is a tough one, but the lure is the payoff, which can range from large to HUGE. A parlay, popular at horse and dog racing tracks, means that you must pick exact winners in a series of events. As an example, picking the winners of the first, second and third races at the horse track, or a three team parlay bet in which you must wager that each of these teams will beat, (or not beat), the spread. If even one of the horses or only one of the teams fail, you lose. Two out of three do not count.

THE PROPOSITIONOR PROP BET:

Not as popular, nor as common as the bets previously noted, the proposition, or prop bet is a wager on a particular aspect of a sporting event. For example, betting on which player will score first, how many completions a quarterback will make, or how many strikeouts a pitcher will get.

Finally, the key to being a successful online sports bettor is doing your homework. In other words not just understanding the mechanics of wagering, but know the sport you are betting on. Understand why the odds are set on a particular boxer, horse or team Know this and you will increase your chances of successful online sports wagering dramatically.