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Types of Bets

Types of Bets

Once you are firmly set up at an online sportsbook, you need to start looking at which sport you wish to place your bets on. Even when that is done, you are still some way from being able to place a wager on a sporting event. For instance, did you know that there are many different types of sports bets out there? Some are relatively simple, and some are far more complex. Some are only available on specific sports. We will try and explain the most common types of bets as simple as possible for you here. Since it is the most popular sports bet to make, we’ll be using football (soccer) as an easy example.

Straight bets

These types of bets are the most common sporting bets in the world. They are so simple to understand, and to be fair, most amateur sports betting fans are best off starting out with these. With straight bets, you are simply wagering on a team or player to win or draw. There is nothing complicated about it. You will either win, or lose your bet based on the final outcome of a match or game. A good example of this is betting on Team A to beat Team B.

Total bets

Total bets are a whole different kettle of fish. These bets tend to be a more swing and a miss affair. With total bets, you are wagering on the total amount of something in a particular sporting event. For instance, you might choose to wager on the total number of goals scored in a football match. You may even try more obscure and long odd bets, such as the number of yellow cards, red cards, corner, fouls, or free kicks. The spread of total bets you get at an online sportsbook really does vary from site to site.

In-play and live bets

In-play bets, or live bets as they are sometimes known, are hugely popular at the moment. Unlike regular sports bets, these can be played after a sporting event has started. The odds fluctuate throughout the match or game (once you have made a bet, they are fixed), and players can watch the action unfold via one of several mediums at the sportsbook. In-play bets can also sometimes be cashed out early, which is worth looking out for.

Promotional bets

Promotional bets aren’t frequently offered. Instead, these vary from site to site and are usually published in the run-up to a major sporting event, such as the Superbowl, Champions League, World Cup, Wimbledon, Grand National events. With these sporting bets, the sportsbook has already outlined a specific set of terms for the bet, and all you have to do is pick your bet and wager on it. Generally speaking, these bets tend to have some sort of bonus or privilege in mind, for instance, some offer you your money back if the football match ends up as a 0-0 draw.

American bets

American bets are quite complex and tricky for European sports fans to get used to. They mostly focus on stats and spreads. Known as parlays, pleasers, and teasers, these types of bets vary greatly. They are only found at specific times of the year, namely when their respective sports are active. All involve betting on points, in a very challenging system. These types of bets are not advised for first-time sports betting fans.

Accumulator bets and multi-ticket bets

Accumulators can be tricky, too, and in many ways they are similar to the aforementioned American bets. However, they are slightly friendlier for European players. In short, Accumulator bets are made up of a series of straight bets (just like the American teaser, and parlay bets). If you successfully bag all of the wins on your ticket, your winnings will be multiplied. If you lose one bet, you could throw the whole lot away. The basic idea is that your winnings are transferred from your first bet and used as stakes for the next bet on your ticket.

Some multi-ticket bets pay out even if you lose a bet, but you’ll need to check with your chosen online sportsbook to see the rules regarding accumulators at their betting site, and they aren’t proper accumulator bets anyway.

Pools and Totes

Pools and handicaps can sometimes be known as Totes. Pooled bets involve players placing bets on whatever sporting event they like. All bets on that sporting event are then pooled together, and the players who hold winning tickets at the end of the event will split the prize pool, minus a small commission for the house, of course. These sports bets work in a similar manner to your office pool, if you have ever tried one.

Which is the best bet for me?

Generally speaking, all newbies are advised to start off with straight bets. Only once you’ve got a taste for it, and understand how it works should you venture off to wager on other types of bets. If you’ve already got a bit experience under your belt, then the choice is rather obviously yours for the making.

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