Sportsbooks provide a way for bettors to place bets without the risk of losing their money. The most common type of bet is a point spread. Other types of bets, like parlays, are also available. In fact, you can even use these types of bets to make a contrarian investment.
Betting on a point spread is the most common type of bet
Point spread betting involves wagering on a team with a spread of points rather than a moneyline. With a point spread, a sportsbook adjusts the odds for both teams so that the underdog will have a better chance of winning the game. The points are denoted by a number beside the team names.
Point spreads can be a half-point difference or a full-point difference. The difference is known as “juice” and can affect the outcome of a game. It’s important to do your homework when betting against the spread. Often, the most recent play of a team can skew the odds in one direction or another. By establishing your own criteria for assessing which side is more likely to win or lose, you can become successful against the spread.
Parlay bets are an alternative to a point spread bet
When you’re betting on multiple events, one way to increase your chances of winning is with parlay bets. These are bets that combine several different predictions in a single bet. These can be used for multiple NFL odds, for example. Each of the individual bets must win for the parlay to pay off, but the payoff can be huge.
Parlay bets also offer an option to add moneyline favorites to the wager. While some favorites have no value in a single game wager, they boost the odds of the entire parlay. While these odds won’t increase by the same amount as the point spread, the favorites are a safe bet.
Online sportsbooks offer a risk-free bet option
Risk-free bets are an excellent way to try out a new online sportsbook before you place your first wager. They can vary in terms of their wagering requirements and expiration dates. Generally, they can only be used on a single wager and cannot be used on parlays or multiple bets. Some sportsbooks also require a bonus code to access this offer. Sportsbooks offer this promotion to both attract new customers and keep their current customers engaged. The free bets work both on desktop and mobile versions of sportsbooks.
Many legal online sportsbooks offer risk-free bets for up to $1,000 on qualifying wagers. These sites match your first wager up to a certain amount and then refund losing wagers in the form of site credit. The amount of site credit that you receive depends on the sportsbook you choose, and some sites will release it all at once, while others will allow you to risk it over multiple bets.
They can be used to make a contrarian investment
If you’re interested in making a contrarian investment, sportsbooks are a great place to start. In Nevada, for example, sports betting is a relatively new business, but there are already several startups taking advantage of the new law. While the law isn’t quite mature yet, it has the potential to expand in the coming years.
A contrarian investment can be made by finding undervalued teams and betting on them. The process is simpler with straight up bets, but it becomes more complex when betting on point spreads.