Sports Betting 101 – In-Game, Money Line, Parlays, and Point Spread
In this article, we’ll cover In-game betting, Money line betting, Parlays, and Point spread betting. These betting methods are very popular and can be quite profitable, but they all have their risks. You should always read up on each one before betting. And don’t forget to check out the odds.
In-game betting
In-game sports betting is where you bet on a specific game while it’s happening. It can take place during the game itself, during stoppage time, or right after the game is over. The app should be designed to be simple and minimalist, and make placing in-game bets as simple as possible. In addition, it should be user-friendly and feature an interactive guide.
In-game sports betting lets you bet on a live game and see the odds changing live. Live betting is a popular style of wagering in other parts of the country, and it allows you to see the game as it happens and formulate unique betting lines.
Money line betting
Regardless of your sport, you should always check the money line odds before making a bet. This is an excellent way to gauge whether the team you’re betting on is a favorite or an underdog. Experienced bettors don’t use the money line odds as their sole indicator, but instead analyze the disparity between the teams’ previous performances.
For example, hockey moneylines often have a smaller price swing than puck line odds, and are a popular way to bet on hockey games. This is especially true when teams are evenly matched, as in the 2019 Stanley Cup Final, which saw a small price swing. Bettors on the money line won $100 of their $210 wagers, while puck line bettors won just $20.
Parlays
In sports betting, a parlay is a multiple bet. It’s also known as an accumulator or combo bet. It’s the most popular type of multiple bet. Parlays are usually made with two or more teams. The selections are added together to make a total bet for each game.
Parlays are possible for multiple sports, including football and basketball. They can also involve a combination of totals, moneylines, and spreads. Most online sports betting apps will allow you to combine multiple different types of bets in a single parlay.
Point spread betting
Point spread betting is a popular type of sports betting. In sports like football and basketball, there’s often a large spread between the two teams’ total points scored. This makes for exciting sports betting. However, while point spread bettors have a good chance of winning, they also face large losses. This is why a person should understand how point spread betting works before placing a bet.
Point spread betting is similar to betting on a straight game, but involves a different kind of risk. The difference between two teams’ total points is called the point spread, and the larger the difference, the bigger the underdog. Sportsbooks determine the point spreads based on a number of factors, including the number of bets placed on each team, injuries, and home-field advantage.
Taxes on winnings
If you win money from sports betting, you should know that these winnings are fully taxable and must be reported to the IRS on your tax return. This is true even if you only place a bet in one state. But the great news is that sports betting is becoming increasingly popular across the country, with some states even offering online sports betting.
Depending on your state of residence, you may be able to deduct a portion of your winnings. However, if you take the standard deduction, you won’t be able to deduct your wagers. If this is the case, you should consult with a tax professional who can advise you on the proper recordkeeping. An experienced tax advisor can also advise you on ways to reduce the amount of tax you owe based on current tax laws.