Indiana sports bettors can enjoy many different bet types across the various online sportsbooks. Since Indiana was one of the early adopters of legal sports betting, it has one of the most developed sports betting markets, giving users many different sports betting options.
Here is a detailed list of the betting types available at Indiana online sportsbooks for both professional and collegiate sports.
Spreads
Spreads, or point spreads, are one of the most common betting types in Indiana. Sportsbooks give the favorite a handicap, which is how many points that team is expected to win by. The underdog will get the amount of points in the spread, meaning they can still lose and cover the point spread.
For example, let's say the Indianapolis Colts are a 3.5-point favorite over the Tennessee Titans. That makes the spread Colts -3.5 with -110 odds. Betting on Indianapolis would mean the team needs to win by four points or more for you to win your spread bet. On the other side, the Titans +3.5, also with -110 odds, would hit if Tennessee won the game or lost by less than four points.
Totals
Totals, also known as over/under bets, are most often used when betting whether two teams in a game will combine for more (over) or less (under) points than the total number provided. Indiana sportsbooks offer totals bets for full games, halves, quarters, and more.
For example, if you see a total at 45.5 with -110 odds and bet the over, the two teams must combine to score 46 points or more to win the over/under bet.
Moneyline
The simplest betting type is a moneyline bet, since it is picking the winner of a game or match. Moneyline betting odds can range from plus or minus numbers as high as 1000, in extreme circumstances for games that are expected to be lopsided.
Betting odds for the favored team will be listed as a negative number, like -140, meaning you have to risk $140 to win $100. For the underdog, the odds will have a positive number, like +180, meaning you only need to risk $100 to win $180.
Prop Bets
Prop bets are wagers on in-game outcomes, instead of betting on the winner of a game or the over/under total. Indiana sports betting sites offer team prop bets, such as a team's total points scored in a game, or player props, like whether or not the Colts' Jonathan Taylor will score a touchdown.
Futures
Futures betting is placing a wager on a future event or outcome, such as a league championship, making the playoffs, or end-of-season awards. Since futures bets are often placed in advance, the odds can be quite profitable.
For example, you can place a futures bet on the Indianapolis Colts odds to win the Super Bowl heading into an NFL season. If their odds were +2500, as an example, a $100 bet on the Colts could net you $2,500 in winnings if they were to hoist the Lombardi Trophy at season's end.
Parlays
Parlays are wagers that combine multiple bets together for a larger payout. They key to a parlay is that each and every leg must win for the parlay to cash. A parlay can feature moneylines, spreads, totals, and prop bets across different sports.
For example, a three-leg parlay could have Colts -3.5, Pacers-Knicks over 212.5 points, and Hoosiers basketball -120 on the moneyline. If all three bets hit, it could lead to a big payout. However, if one of the legs loses, then the entire parlay gets graded as a loss.
Teasers
Teasers give you the chance to shift the point spread or total within a multi-leg bet. Moving the line seemingly makes the teaser bet easier to win, but it also makes the betting odds less profitable.
For example, a parlay taking the Colts -3.5 (-110), Pacers-Knicks over 212.5 points (-110), and the Indiana Hoosiers +2.5 (-110) has +596 odds. A four-point teaser would move the lines to Colts +0.5, Pacers-Knicks over 208.5 points, and Indiana Hoosiers +6.5 with +165 odds.
Live Betting
Live betting, or in-game betting, allows users to place wagers while a game is taking place. This gives bettors the opportunity to wager on odds or outcomes that might not have been offered pregame.
For example, the Notre Dame Fighting Irish may have had a -11.5-point spread pregame with -110 odds. But following a great first quarter, the sportsbook may adjusted the line to -14.5 with -110 odds. With live betting, you can double down on Notre Dame to cover both the original 11.5-point spread and the live spread of 14.5.
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