10 Types of Sports Bets
Have you ever thought about what are the 10 Most Important Types of Sports Bets? Before starting an exciting lot of sports betting and choosing a bonus to fill our bankroll, the first thing to know is that there are different types of sports bets.
In this way, each player can design their own strategy based on the type of sport they know best. They can also apply this knowledge based on certain variables.
In addition, it is not always necessary for the game to end for the bet to be answered. You can also play some situations during the first or second half or set them live and direct (known as a live bet). The seasoned bettor will be able to squeeze all the juice out of that event. He can get the maximum possible profit.
Table of content:
Types of Sports Bets
1. What is Moneyline?
The philosophy of the odds ( odds ) in Moneyline bets is based on giving a figure referring to a profit of #1000 if we bet on the favorite – favorite -, or a stake of #1000 if we bet on the team with fewer possibilities. The latter is called an underdog, in Yankee jargon.
This differentiation means that the figures have an – or + sign in front of them. It depends on whether we bet on favorite or underdog. In other words, the table that a bookmaker can show us for its money lines in a SuperBowl game. It could look like this:
New England Patriots – (-)120
Seattle Seahawks – (+)110
A bit strange, isn’t it? Does negative value mean we lose money if we bet on the Patriots and get it right? Absolutely. The negative sign only means that it is a favorite. Therefore we must bet #1200 if we want to have a profit of #1000 if we are correct.
In case we want to bet on the Seahawks, the positive sign means that the Seattle team is perceived by the public as an underdog. Therefore our benefit will be #1100 in case we end up winning a bet with an investment of #1000.
Top 25 Nigerian Bookmakers for Online Sports Betting
2. What is handicap betting?
The handicap in bets implies that the bet includes an advantage of one goal or more for the inferior team a priori. It allows the odds to be assimilated.
Here are some examples of handicap betting.
· Level handicap
Both teams start with 0 goals on their scoreboard. They bet on the team that will score the most goals in the match. If the match ends in a draw, all bets are returned.
Example;
In a Getafe vs Girona, we bet that Getafe will score more goals.
- If Getafe wins (scores more goals) we would win the bet.
- In caste there is a tie, the amount bet will be returned (void bet as there has not been a top-scoring team).
- Also, if Getafe loses we would lose the bet since Girona would have scored more goals.
· Simple handicap
If you bet on the favourite team, it will have to exceed the handicap that will be subtracted from the final score to win the bet. The handicap of the favourite team is preceded by the sign (-).
Example;
If you bet on the weak team, you start with an advantage that must be added to the final result. The weak team handicap is preceded by the sign (+). The handicap is only added to or subtracted from the result of the team you bet on. There is no accumulation.
· Split handicap
What this type of handicap really does is automatically divide our bet into two bets. It is identified by the following values: ± 0.25, ± 0.75, ± 1.25, and more. This type of handicap is convenient to apply when there is a difference between the two teams, but it is small.
Example;
In a Sevilla vs Eibar, we bet on the victory of Sevilla with a handicap of -0.25.
With the victory of Sevilla by any result, we would win the total bet.
With the tie we would win half a bet and the other half we would lose. We would win the part in which we bet that there are more than -0.25 goals since any result gives us that (0-0, 1-1, 2-2). We would lose the other half bet in which we predict the victory of Sevilla.
With the defeat of Sevilla, we would lose both bets, that of the goals because there would be a negative score higher than -0.25 (with a 1-2 the balance would be -1). Therefore, the victory of Sevilla.
· Asian handicap
The objective of the Asian handicap is to give a certain goal advantage to one of the teams (or discount them to the other) in order to improve the odds of a team that presents them low.
There are several types. Average (± 0.5 and ± 1.5), Integers (± 0 and ± 1), and quarters (± 0.25, ± 0.75, ± 1.25, and more).
This type of handicap is convenient to apply when there is a great difference between both teams.
Example
In an FC Barcelona vs Huesca, we bet on the victory of Huesca with a handicap of +3.
- If FC Barcelona wins by 2 goals difference we would win the bet (the final result would be 2-3).
- In case FC Barcelona wins by 3 goals difference, the bet would be returned as it is void (the final result would be 3-3).
- Also, if FC Barcelona wins by 4 goals difference we would lose the bet (the final result would be 4-3).
3. Over/Under, what does it mean?
The most common over/under bets are usually on the most popular sport: soccer. It means “above” and “below”, or “more than” and “less than.” That is, we find a bet “above” (over) and a bet “below” (under) a variable set by the bookmaker.
We make an over / under bet, whose over is that there will be ” more than X goals or points (or another variable)” and under that, there will be ” less than X goals or points ” in a sporting event.
4. Future Bets Explained
Future Bets are one of the most fun markets in the betting world. It doesn’t matter what your favorite sports discipline or your favorite competitions are; all of them will be included in the Future Bets, and depending on the importance of the event, you will be able to find it months before its start so that you can start betting.
Of course, this also carries over to other sports, so you can bet on the NBA, NFL, Tour de France, Wimbledon, or any other competition before it starts or during its dispute, although it is clear that the odds will vary as that its conclusion approaches, so you must choose very well the moment in which you are going to make your investment.
5. Prop Bets
How to use them to your advantage?
Prop bets can be almost anything except point distribution and total scores. Your choice can be as specific as how many yards the ball will fly on the next hit a batter makes in a cricket match. The great thing about prop betting is that there are almost unlimited options. If you can imagine a statistic that you can realistically bet on, you are sure to find it at least one bookmaker. That’s why it’s also important to distinguish a winning deal from a no-nonsense risky one.
For example;
A very popular prop bet where people seem to jump no matter what is in the coin toss. Tossing a coin is a part of all major sports – soccer, cricket, football, you name it. So naturally, this would be an entertaining chance for casual betting if you are watching the match with friends. But the problem with a coin flip is that you can’t predict which one wins at all. You’re almost 50-50 no matter which side you take. This is the worst type of prop bet you can make if you want to win money. By far the top option that all betting experts will recommend is placing bets based on performance.
6. Parlay bets
A Parley is nothing more than a combined bet of two selections (teams) or more. These combination bets are very common when playing small amounts because the more the selections on the ticket, the more the bet will pay but the more difficult it is to hit. In a Parley, all the selections have to be correct, absolutely all, if one of the selections of the bets is unsuccessful, the ticket ends up being unsuccessful as well. Such selections can be baseball, basketball, football, American football, and most sports betting.
If any of the Parley bets is canceled or suspended, that may be due to playing a handicap that remains the same in this case, that bet is canceled and therefore the value of the ticket will go down and is calculated without that bet.
However, each of the bookmakers has restrictions for these accumulated bets (Parlay). Some leave you only 12 plays, other 15 selections, and as there are others that the plays are infinite.
7. Teaser Bets
Teaser bets are a multiple bet where the handicap of all selections is extended. The number of selections depends on the bookie, as they can range from 2 to 8 or 10; And the key is to choose the number of points to add or subtract, in addition to the number of selections included in the teaser.
It goes without saying that to get the teaser right we have to hit all the predictions that appear in the bet and that the more selections there are, the higher the odds will be … but the more difficult it will be to carry out the bet.
Odds change based on the number of points to add or subtract and the number of teams that combine for the teaser. It should also be noted that due to its characteristics it is easier to hit a teaser than a conventional bet, but as it usually happens in these cases, the more options to hit, the lower the odds. In fact, the payout is usually lower than other handicap bets, which is why several games are usually added to the teaser.
When we choose a teaser, the handicap for each selection is automatically adjusted. So, if we choose a teaser 6, the handicap -3.5 will be +2.5 and the handicap +3.5 will become 9.5. The number of selections also affects the final odds, and this also affects void or canceled bets. If one of the selections in the teaser is not resolved or is void, the teaser is recalculated from the valid selections. Thus, if in a teaser of 6 selections one is cancelled, it will be paid as a teaser of 5 as long as all are correct.
8. Full Covers
Simply put, a full bet coverage simply means to make another bet contrary to the one already made to avoid greater losses. It could also mean to withdraw without losing a lot of money. In other words, full cover bets or hedging (as it’s commonly known) is when you make a continuation bet, aiming to bet against yourself to eliminate or reduce the amount you could lose.
Let’s say that in the previous FIFA World Cup you bet on the result of a draw the sum of 0.1 with odds of 6.00. Then one of the teams made a comeback with a goal and is winning, their odds got higher and they no longer thought they could win which means you’ll lose 0.1.
As a profit can no longer be guaranteed, but the loss can be minimized. The odds on the winning team have been reduced to 1.15, so again, you place a bet of 0.55. You are now going to lose no matter what happens. Nevertheless, the most that you can lose is 0.05 whereas without coverage you were going to lose 0.1.
A more positive hedging experience is making a risk-free bet; so if the result goes your way you win but if the result goes against the balance point.
9. Outright – The long term investment
An Outright bet is a European equivalent of a potential bet in which you bet on the champion of the upcoming tournament or a season-long competition. Those can be the British Open or the English Premier League. Much like the futures, you get higher odds by betting earlier, which also enhances the risk factor.
For certain events like tennis, betting players can position “each way” Outright that pays off even if their bankrolled player reaches the finals, even if the amount earned would be less.
Outright in Europe are typically calculated in a fractional odds proportion. Those can be 100/1, with the first amount being how much you can win from every dollar placed bets. And you can always quickly transform those odds to American odds using an odds converter.
10. Reverse & “if” – The Gurus choice, not for rookies
Reverse & “if” bets can just get complex and difficult, so they’re not very common with rookie bettors. “If” bets thread bets in progression: if I lose this match, then I wager on this match. It’s a way to use a small bankroll and your earnings to bet frequently, as long as you’re lucky enough. Each successive “if” bet wagers the cumulative sum of earnings from the previous bets, so you don’t win before you quit.
Likewise, the reverse bet is a form of “if” bet that protects you against two possible outcomes. If your original “if” bet is that the Arsenal wins, then the Chelsea win, the reverse is that the Chelsea win, then the Arsenal, increase your chances of at least one payoff (even as you won’t receive back the sum of your previous bet). There’s a reason they’re classified as “adventurous” bets.
