Gambling has been made legal in 30 states across the country, and with that, we’ve seen a noticeable rise in online betting. But if you are just getting started with betting, what kinds of bets are there?
If you have ever clicked on an online sportsbook, then you might have seen that there are a lot of choices. The last thing that you’ll want to do is to place a lot of money down and not know exactly how much to stand to win.
What is the difference between single betting and over/under betting? Is it wise for you to get involved in a parley before you have mastered the basics? You can get these questions answered and more with our guide to betting types and which one is best for you.
Are There Some Bets That Are Better Than Others?
If you are just started in the world of betting, then it is probably best for you to try single bets first. These types of bets have a lower risk although they do turn out a lower profit.
You can also try accumulator bets, which is when you try multiple bets at once across multiple sports. However, there is a lot more risk with this type of betting, as all of your bets have to pay off for you to collect your winnings.
You can also engage in a system bet, which could make you more of a profit, as you do not need all of your legs to come through for you to collect your winnings. However, this type of bet requires knowledge of a lot of regulations, so it is not recommended for beginners.
Now that we’ve given you a brief summary of some of the more basic bets, we’ll give you a comprehensive breakdown of some of the other bets that are available to you.
Different Types Of Bets
1. Moneyline
This is a very simple form of betting that you can learn. It is simply putting money down on the team that you expect to win. If your team wins, then you gain money, if your team loses, then you lose money (Check Out Bet Without Losing). It’s that simple.
If you are following the US rules of betting, then you’ll have an underdog and a favorite. The favorite is the team that the betting experts have predicted to win. The underdog is the team that is expected to lose.
A favorite is usually indicated by a triple-digit number that comes with a minus symbol after it. On the other hand, an underdog is represented by a plus symbol. This might sound confusing, but that is the way it is.
The triple-digit number beside the minus sign will tell you how much you’ll need to wager to win $100. The number next to the plus sign will tell you how much you are going to win if you place that $100 down.
For example, if Team A has odds of +200, then this means that they are the underdogs, whereas Team B with -150 is the favorite.
If you put $100 on Team A to win, then you’ll get $200, whereas if you put $100 on Team B, then you stand to win $50.
This type of betting is one that is recommended for beginners as it takes a lot fewer rules to understand.
2. Points Spread
This is where you’ll need to predict what the points of a team will be within a specific margin. This is usually indicated by another number that is next to the odds number and symbol. This will also be accompanied by a plus or minus symbol.
If there is a minus after this second number, then that indicates the number of points that your team must gain in order for you to win the money that you put down.
The plus symbol will indicate how many points your team can lose by so you can collect your bet. If you bet on the underdog, then your money will still come through and you will stand to win some cash.
If Team A is listed as having -9.5 and Team B is listed as +9.5 and you bet on Team B, then they will need to lose by 10 points or less if you are going to collect your wager.
This type of betting might be more interesting to experienced bettors, as you can bet on both teams and increase your odds of winning.
3. Parlays
This type of bet is also known as an accumulator, which is the betting type that we mentioned above. This is where you can combine many different types of wagers into one single bet. However, each of these bets must come through for you to win the prize.
This is a much riskier strategy than single bets, but the takings are potentially higher if your bets do come through. You also get a lot better odds if you are doing parlays.
4. Over/Under
This is where the oddsmakers will set a certain number for a statistic and you have to bet whether the number will fall above or below that initial prediction.
For example, if two teams score a collective total of 250 points and you bet the over, then this means that you will need to get over that number of points to win the wager.
This is not dependent upon which team scores points, as it is the total collective number of points that you’ll be wagering. You can also get over/under bets for individual elements of the game, such as passing yards or getting 3-pointers.
5. Prop Bets
This type of bet is not at all dependent on the final score, but more on an individual part of the game that contributes to the final score. For example, if a player scores a certain number of touchdowns during the game.
Prop bets are very similar to over/under bets in that you will bet on whether your score will be over or under the allotted amount. You can bet on individual players or on teams as a whole.
There are certain games that prevent this type of betting, so you’ll have to be aware of the rules before you participate.in this type of bet.
6. Futures
This type of betting is simply predicated on the results of future games. The further away from the event that you are, then the higher the odds will be. This means that the closer the event gets, the amount of money that you’ll win will decrease.
This is because more details will become known closer to the event. For example, if a star player gets injured, then this will certainly affect the outcome of the game, most likely reducing the chance of the team winning and increasing the wager that you’ll win.
Conclusion
We hope that our guide to the types of betting available to you will make you more informed and help you with what type of bet you’ll place.
Remember to consider how experienced you are at betting. If you are a beginner it is probably best to get in at ground level and place a few single bets first.
A favorite of mine is golf gambling. Such a relaxing game can win you big when you bet on the right people. Plus, betting makes watching it much more fun, too!
If you’re looking for a new hobby, gambling can sound like a risky venture. But it doesn’t have to be. Stick with my knowledge of the business and I’ll help you navigate the tricky waters that are gambling online sites.
- Which Bet Type Is The Best? Breakdown Of Betting Types - November 25, 2022
- Bet Without Losing: Sounds Too Good To Be True? Zero-Risk Betting Strategies - November 25, 2022
- What Is The Best Way To Bet On Basketball? (Basketball Betting Strategy) - November 24, 2022