Straight Bets are the most common and favorite type of sports wagering. The Straight Bet is a bet place on a side or total of a single sporting event or game.
In Sports betting and straight bets a common term used is the Favorite or the Underdog.
Betting on the Favorite entails betting on the team one favors and laying points or money. The amount required in the risk, in order to win $100 will be expressed as a minus (-) sign. Traditional Sports betting payout odds for straight bets are -110, which means you will win $100 for every $110 you bet or any other 11:10 equivalent bet.
Betting on the Underdog entails receiving points or money and the amount you win for every $100 bet is expressed with a plus (+) sign.
The pointspread is normally referred to as simply the line or spread. When betting, the favorite team is handicapped be subtracting points or goals and the quantity of such is noted with a (-) sign.
In betting the underdog one must be given points or goals and in this case is noted with a (+) sign. An Example would be if the Sportsbook was listing the Raiders -7 and the Cowboys +7 in the action.
In this case the Raiders are the favorites by seven points and therefore they would have to win by more than seven points in order that the bet would be considered a win!
If you wagered on the Cowboys you would win if the Cowboys win outright or simply lose by less than the seven points. Should the Raiders win the game by seven points then the game is considered a push (tie) and all bets would be fully refunded.
Sports betting with the Money line does not entail the pointspreads as in other straight bets. To win money line bets, select the team to win the game outright. In this case if the money line for the Raiders-Cowboys game mentioned above listed the Raiders at -210 and the Cowboys at +180 and you want to bet on the Raiders you would risk $210 to win $100 or if you want to bet on the Cowboys you would risk $100 to win $180.
Sports betting on the Totals, more commonly known as the Over/Unders and is easy to understand once you understand the pointspreads. The Total lines will be the number of points to be scored in a game. With that number you simply bet the total for the game to go over or under that number. In this case if the Ov/Un line is 10 then you can bet the game to either go over 10 or bet to go under 10. In this case it does not matter which team scored and the amount, only the combined total is relevant.
Run Lines are used for betting on Baseball and are always set at + or – 1.5 runs. Therefore a run line bet on a Favorite will win only if a team wins by two or more runs, where a run line on an Underdog would win if a team wins the game straight out or loses by only one run.