Sportsbooks offer many different ways to wager on an event. This hub explains the most common sports betting markets available in Ontario, including singles, Moneyline bets, point spreads, totals, parlays, player props, futures and live betting.
Understanding the different types of sports bets is an important part of learning how sportsbooks work. Each market has its own rules, settlement conditions and potential return structure, so bettors should understand exactly what must happen for a wager to win before confirming it.
Depending on the sport, event and operator, regulated Ontario sportsbooks can offer a wide range of markets across hockey, basketball, football, baseball, soccer, tennis and other sports – the exact number and selection vary by operator. Although some wagers are simple, others involve handicaps, multiple selections, player statistics or long-term outcomes.
This hub brings together our guides covering the most common sports bet types, how they’re settled and what to check before adding them to a betting slip. For a broader overview beyond this hub, see Types of Sports Bets Explained.
Single Bets
One selection, one market – the simplest structure to understand what determines the result.
Parlay Bets
Combine several selections into one wager – each required leg generally needs to succeed.
Live Betting
Markets offered after an event starts, with odds that can move rapidly.
🏆 What Are Sports Bet Types?
A sportsbook “market” defines what outcome or statistic is being priced – a Moneyline market prices the winner, a totals market prices a combined statistic. A wager can also have its own structure on top of that: a single (one market), a parlay (several markets combined into one bet), or a same-game parlay (several markets from the same event combined). Keeping these two ideas separate – the market itself, and how many of them you’ve combined into one wager – makes the rest of this hub easier to follow.
The same sport may contain many different markets, each with different rules. Bettors should read the exact market description rather than assuming similar-looking wagers are settled identically.
🏅 Single Bets
A single bet contains one selection from one betting market. If the selection satisfies the sportsbook’s settlement conditions, the wager wins. If it doesn’t, the wager loses – unless the market is voided or otherwise adjusted under the operator’s rules.
Singles are useful for beginners because the relationship between the selected outcome, quoted odds and possible return is relatively easy to understand. See Single Bets Explained for the full guide.
A $20 wager on Team A at decimal odds of 1.90 would return $38 if the selection wins. The total return includes the original $20 stake, so the potential profit is $18.
🔗 Parlay Bets
A parlay combines multiple selections into one wager. The odds of the individual legs are combined, which can produce a larger potential return than a single selection.
Parlays are harder to win because each additional leg is another condition that has to be satisfied for the whole wager to succeed – one losing selection can cause the entire wager to lose. How a void or push leg affects the rest of a parlay depends on the sportsbook’s own rules, so it’s worth checking before combining selections. See Parlay Bets Explained and Same Game Parlays – How They Work for the full detail.
A larger potential payout doesn’t mean a parlay represents better value. Adding selections generally increases the number of outcomes that need to go correctly for the wager to succeed.
🎯 Popular Sports Betting Markets Explained
Beyond singles and parlays, sportsbooks offer many market structures based on match results, handicaps, scoring totals, player performance and longer-term outcomes.
🏆 Moneyline Bets
A Moneyline wager is based on the outcome of the selected market. In many sports this means choosing which team or player will win – but not every Moneyline market has exactly two outcomes. Some sports and markets include a draw as a separate result (a three-way market), while others use a “draw no bet” structure that handles a tie differently again.
Settlement conditions also vary within the same sport – a hockey Moneyline market may include overtime and shootouts, while another market applies only to regulation time. The exact wording matters.
Don’t assume every Moneyline market uses the same settlement conditions or the same number of possible outcomes. Regulation-only, overtime-included, three-way and draw-no-bet structures can all behave differently.
⚖️ Point Spread and Handicap Bets
Point spread betting applies a handicap to the teams before settlement. The favourite may receive a negative spread, while the underdog receives a positive spread.
For example, a basketball team listed at -4.5 generally needs to win by at least five points for that spread selection to succeed. The opposing +4.5 selection can win if that team wins outright or loses by four points or fewer – the half-point exists specifically so the market can’t land exactly on the line and push.
Spread rules can vary by sport and sportsbook, particularly when a market uses a whole-number line rather than a half-point. Note that “point spread” is the common North American term – some sports, particularly soccer, may use broader handicap structures with their own settlement conventions.
🔢 Totals – Over and Under Bets
Totals markets focus on the combined amount of a statistic rather than the winner. The sportsbook sets a line, and the bettor chooses whether the final result will finish over or under it.
The most familiar example is total points or goals, but sportsbooks may also offer totals for corners, shots, strikeouts, passing yards and many other statistics – including individual team totals, not only the combined game total.
If a basketball game has a total of 224.5 points, an Over selection requires the combined score to reach at least 225. An Under selection wins if the final combined score is 224 or lower, subject to the market rules.
⭐ Player Proposition Bets
Player proposition markets focus on individual performance rather than only the final match result. Depending on the sport, examples may include goals, shots, rebounds, passing yards, strikeouts or other statistical outcomes.
Player participation rules are particularly important. A sportsbook may void a market if the named player doesn’t start, doesn’t take part, or fails to meet another specified participation requirement – the exact condition depends on the sport, the market and the operator.
🏁 Futures and Outright Bets
Futures are longer-term wagers that may remain unsettled for days, weeks or months. Typical markets include championship winners, tournament outrights, divisional winners and season awards.
Because the wager can remain open for a long period, the stake generally stays committed until the market settles. Some sportsbooks offer cash-out on certain futures markets, but that’s an operator-specific feature at a value the operator sets – it isn’t available on every market or every sportsbook, and it isn’t the same as the bet being guaranteed a way out early. See Futures Bets Explained for the full picture.
🔴 Live Betting Markets
Live betting allows wagers to be placed while an event is already in progress. Odds and lines can change rapidly, and markets can suspend or reopen as the sportsbook responds to the score, time remaining, player performance and other developments.
The shorter decision window can make it easier to act impulsively. Review the exact market, price and stake rather than placing a wager simply because the event is moving quickly. See Live Betting Explained for the full guide.
Changing odds and match momentum don’t remove the need to check the market rules and your betting budget. Avoid increasing stakes because of excitement or an attempt to recover an earlier loss.
📋 What to Check Before Placing Any Bet Type
- Confirm the exact event and betting market.
- Read the settlement conditions before placing the wager.
- Check whether overtime or extra time is included.
- Review player participation requirements for prop bets.
- Confirm the quoted odds and potential return.
- Understand how void selections or pushes affect parlays under that sportsbook’s rules.
- Use a stake that remains affordable if the wager loses.
- Don’t choose a market only because the possible payout appears large.
🧮 Use Betting Tools to Understand Your Wager
Betting tools can help calculate possible returns, convert sportsbook prices and review the probability represented by different odds. They don’t predict which selection will win.
❌ Common Bet-Type Mistakes
- Placing a wager without understanding the exact settlement rules.
- Assuming every Moneyline includes overtime, extra time, or has only two outcomes.
- Adding many parlay legs only because the potential payout increases.
- Confusing a point spread with a Moneyline market.
- Ignoring whether a totals line includes overtime.
- Placing player props without checking participation requirements.
- Treating futures bets as if the stake will be available again quickly.
- Making impulsive live bets because prices are changing rapidly.
📚 Continue Learning About Sports Betting Markets
Once you understand the major bet types, the next useful topics are betting odds, implied probability, sportsbook settlement rules and bankroll management.
🔒 Understand the Market Before You Bet
No bet type removes the financial risk involved in sports betting. Singles, spreads, totals, props, parlays and futures can all lose.
Understanding how a bet type works can reduce avoidable mistakes, but it can’t predict sporting outcomes or guarantee profitable results. Choose markets you understand, use an affordable entertainment budget, and avoid increasing stakes to recover previous losses. See Bankroll Management for more.
❓ Frequently Asked Questions
What is the simplest type of sports bet?
A single wager – it contains only one selection and one market to settle. See Single Bets Explained.
What’s the difference between a single bet and a parlay?
A single contains one selection. A parlay combines several selections into one wager, and the required legs generally need to succeed for the bet to win. See Parlay Bets Explained.
What is a Moneyline bet?
A wager based on a market’s outcome, often the outright winner. Check the exact rules – some sports have three-way (with a draw) or draw-no-bet structures instead of a simple two-way market.
What is a point spread bet?
A handicap applied before settlement – the wager depends on whether the selected side finishes above or below the adjusted line.
What is an Over/Under bet?
A totals market where you predict whether a combined score or statistic will finish above or below the sportsbook’s quoted line.
What are player prop bets?
Wagers on individual statistics or achievements – goals, rebounds, passing yards, strikeouts and similar, depending on the sport.
What is a futures bet, and can I get my money back early?
A longer-term wager on an outcome such as a championship or tournament winner. See Futures Bets Explained – some operators offer cash-out on select markets, but it’s not universal and isn’t the same as cancelling the bet.
Are parlays riskier than single bets?
Parlays require several selections to succeed rather than one, so there are more conditions that can cause the wager to lose – a larger displayed payout doesn’t change that.
What is live betting?
Wagers offered after a sporting event has started, with prices and markets that can change rapidly. See Live Betting Explained.
Which bet type is best for beginners?
There’s no universally best market, but single wagers are often easier to understand since they involve one selection and a simpler settlement structure.
Learn more about how sportsbooks work, betting odds and betting strategies.
