When betting any sport it is important to understand what each bet means and know how they apply to the match itself. In any given sporting event, basic bets will always be available to bet on along with some player props that have to do with individual player stats. It is much more common to place wagers on the basic bet types as those are easier to follow and predict but betting on player prop bets is a fun way to follow and watch a match.
Moneyline betting refers to odds that a player will straight up win a match. With this type of bet, a person does not have to worry about the player winning by a certain amount and has the ability to have the largest payout of all bets depending on the line that is bet on. This is typically the most popular type of bet to take in sports as it is the easiest to understand and follow during a match.
Similar to other sports, you can take a moneyline bet on a particular set of a tennis match rather than a full match. This means that if you took one player to win the first set, they only need to win the first set for your bet to win.
In betting, there are odds that go along with every type of bet. Moneyline betting odds vary greatly from match to match with the greater negative number meaning that the player is favored while a higher positive number means that the player is the underdog.
When betting, if Roger Federer is playing Rafael Nadal and his moneyline has -120 odds, a person would need to place a $120 wager in order to win $100. However, if Nadal's moneyline odds are +150, this means he is the underdog and if a player places a $100 wager on his moneyline and he wins, it will pay out $150.
Spread betting has to do with how much one player is favored over the other. This means that the line creators figure out how much better one player is than the other and create a spread on how much a player should win or lose by. These lines are created in order to get half of the bets on one side and half on the other so these usually seem possible to hit on either end of the bet.
Spread betting is usually where most people make their money as the odds of spreads usually hover around -105 up to -120. Spread betting usually equalizes the playing field on matches that have large favorites/underdogs.
If Nadal is heavily favored in a match, his spread may be -6.5. This means that if you took the bet, he would have to win more than 6.5 games over his opponent during this match. If he wins 7 more games than his opponent during the match the bet would win. However, you could also take the other side of the bet and place a wager on his opponent +6.5 games in the match. This means that his opponent can lose 6 or less games compared to Nadal in this match or win more games than him in the match and the wager would win. So, if you took the bet -6.5 and Nadal wins the match (6-2,6-3) your bet would win as this would mean that Nadal won 7 more games than his opponent during this match.
Set spreads are not as common, but they are also a wager that can be bet on during a match. It is the same idea but instead of having a spread on the games of a match, this would be a bet on the spread of the sets in the match.
Over/under betting refers to the amount of games that will be played within a given match. The line will be set at a number and you can simply pick if you think the amount of games in a given match will be more or less than this number. If you believe that the match will be close, the over is the safer bet, but if you think it will be a blowout then the under bet is the way to go.
For example, if the over/under for games in a match is set at 20.5, you can bet the over/under on this bet. If you bet the over and Federer wins this match (6-4,7-6) the total games in the set would equal 23 and you would win your bet. However, if he were to have won (6-2,6-3) you would lose your bet because the total games in the match only reached 17.
This type of bet refers to a player's stats in a match rather than the entire match itself. There are a wide variety of player props that are available in each match. These types of bets are usually only available in larger tournaments and only in certain places. You could bet on anything from the number of aces a player may have in a match to the exact score, or even if there will be a tiebreak.
Live betting is usually the most dangerous type of betting as this is where many people lose a lot of their money. In some places, you can bet on a match while it is going on. For example if a player is losing in a match and has a live moneyline of +500 you could place a $100 wager on this player and if they come back to win the match you would win $500. Live money lines and spreads are constantly changing throughout the match in order to keep up with what is happening in real time.