The Most Important Bet Types in Sports Betting Explained

Introduction

We dive into the fascinating world of sports betting, in this guide, we explore the most important bet types that every bettor should understand. Whether you’re a seasoned sports enthusiast or just stepping into the betting arena with no real knowledge of any of the terms, gaining insights into these bet types can significantly enhance your betting experience.

Most Common Bet Types

Match Betting

The Match bet or Moneyline bet in America stands as the simplest and most prevalent form of sports wagering. When placing a moneyline bet, you are essentially betting on a team to secure victory. For instance, if you believe Chelsea will emerge triumphant, placing a moneyline bet on them means that a Chelsea win is what you bet on.

Point Spread (Victory Margin)

Point spread bets add an exciting dimension to sports betting, focusing on a team’s margin of victory rather than the final result. This bet type is especially prevalent in American sports. Where a favourite is denoted by a minus symbol, while an underdog carries a plus symbol. For instance, if a team is priced at -7.5, they must win by more than 7.5 points, while the opposing team at +7.5 must either win outright or lose by fewer than 7.5 points. In Europe there are some occurrences of this bet type, with football for example, you can bet on a team to win with a certain victory margin. However, it is not one of the most frequently used.

Over/Under

Also known as totals, over/under bets involve predicting the combined number of points scored by both teams in a game. If the final score surpasses or falls below the set total, your bet on the over or under, respectively, determines the outcome. This type of bet adds an extra layer of excitement to the game, focusing on the collective performance of both teams. There are several variations of over/under bets including variations where you can bet on over/unders for one team, a specific player or first or second half.

Handicap Betting

Handicap betting is a form of betting where you award a virtual advantage to a team or player to equalise the competition. Handicaps are very useful in markets where one side is significantly favoured with imbalance odds. The use of a handicap on a certain team can significantly lower(higher) the odds for the underdog(favourite). There are two types of handicaps: Asian Handicaps, where a draw can be excluded as an option, and European Handicaps, where a draw always is a potential outcome.

Asian Handicap

Asian handicap betting originally was meant as a variation that eliminates the possibility of a draw by assigning a handicap to each team. This handicap aims to level the playing field, making the odds more favourable for the favourite and lowering the odds for the underdog. It adds an intriguing twist to traditional match betting by offering alternative outcomes.

An example to clarify: if you bet on a team with handicap of -0.5 it means that this team virtually begins behind. If the game ends in a draw your team loses because of the handicap, whereas if the team wins with 1 goal difference your bet is successful as the handicap is only 0.5. This can also work the other way round if you back a team with a +0.5 handicap. Asian Handicaps with whole numbers are exactly the same as their European Handicap counterparts.

European Handicap

Similar to Asian handicap, European handicap betting involves giving a virtual advantage or disadvantage to a team. However, it always retains the possibility of a draw, providing three potential outcomes. This type of handicap betting introduces more complexity and diverse betting options.

The European Handicap equivalent of Asian Handicap -1 would be 0-1, meaning that the team handicapped virtually begins in a 0-1 losing position. Now if the match ends in a draw, your backed team would have virtually lost the game and you would have lost your money. If the team wins by 1 goal difference the match virtually ends in a draw and you receive your stake back whereas if the team wins with 2 goals or more difference, you win the bet.

Other Special Bet Types

Draw no Bet

Draw no bet is a safety net for bettors, eliminating the risk of losing if the game ends in a draw. If the match results in a tie, the stake is returned, providing a level of insurance for those seeking a more conservative approach to betting. However, as a consequence the odds are also lower in these types of bets.

Double Chance

Double chance bets allow you to cover two out of three possible outcomes in a game. This could involve betting on a team to win or draw, minimising the risk but adjusting the odds accordingly. It’s a strategic move for those looking to broaden their betting options. A common situation for this bettype is for a lower ranked team at home against a higher ranked team where the lower ranked team is in good form and strong at home and the away team not a clear favourite.

Both Teams To Score

Both teams to score or BTTS is another bet type that exists nowadays. In this bet type you have 2 options, either you believe both teams will score at least a goal in this match or either or both of the teams will fail to score a goal. The odds are usually quite balanced between the 2 options. However, in some cases, if two highly scoring teams encounter each other the odds for both teams to score can be drastically reduced. The opposite can also be true, when at least 1 of the teams involved is either known for its very good defence or for its weak attacking prowess.

Combination bets

These bets are placed as one single bet but are formed as a combination of 2 different bet types. Some of the more common combinations include Over/Under and BTTS, Over/Under and Moneyline,and Moneyline and Point Spread. An example would be for a game that you think that Manchester City will win their game and the game will see at least 3 goals scored, this could be an attractive option if Manchester City play at home against a weak opposition. The odds can be quite attractive for these combination bets but for these bets you need to properly do your research to ensure that you choose the right combinations for the specific match you analysed.

Live Betting

Live betting injects real-time excitement into sports wagering. Placing bets while the game is in progress opens up a plethora of opportunities, from predicting the next scorer to forecasting the outcome of the next possession. Live betting demands quick thinking and adaptability, providing an immersive experience for bettors. However, due to rapid odds movements it is also a very challenging type of betting and definitely is more suited to experienced bettors.

Non-Match Bets

Besides bets on individual matches, there exist several bet types that are not concerned with the outcome of one single match.

Accumulators

Accumulators or parlays involve combining multiple bets into a single wager. For the accumulator to succeed, every individual bet within it must win. While the risk is higher, the potential rewards increase significantly. It’s a favourite choice for those seeking a shot at substantial payouts with a relatively modest stake.

Outright Betting

Outright or Futures betting extends the timeline beyond a single game, allowing you to wager on the future outcome of a sporting event. This could include predicting the winner of a league championship, a top scorer award, or the total number of wins a team achieves. It adds a long-term perspective to sports betting.

Prop Bets

Proposition bets, commonly known as prop bets, diverge from the final score or result of the game. They can be player props, focusing on individual performances like passing yards in football or a basketball player’s double-double. Game props involve predicting specific events within a game, such as the first team to score a goal in the game.

Less Common Bet Types

Next we delve into less common bet types that offer unique opportunities for those willing to explore beyond the conventional.

Teaser Bets

Teaser bets resemble accumulators but with a twist. Bettors can adjust point spreads in their favour, albeit with reduced potential payouts. It’s a strategic move to enhance the chances of winning, especially when the standard point spreads present challenges.

Half Bets

Half bets involve predicting the outcome of the first or second half of a game. It’s a focused approach that caters to bettors who believe certain teams perform better in specific halves. This type of bet provides an alternative perspective on game dynamics. You can also bet on either the first or second half of games to have more or fewer goals than the other half.

If Bets

If bets offer flexibility by allowing bettors to place a series of conditional bets. The outcome of the initial bet determines whether subsequent bets are activated. It’s a calculated approach that can be employed strategically, aligning with changing game scenarios.

Popular Bet Types Per Sport

We explore how different sports influence the popularity and prevalence of specific bet types. Depending on the scoring nature of sports there are a few common bettypes that dominate across sports.

Football

In football betting, we often encounter the three-way moneyline bet. Bettors can choose to bet on either team winning or opt for the possibility of a tie. Two-way moneylines, spreads, and total goals also find frequent traction in football wagering. Over the last few years, the handicap bets have been gaining popularity and now are quite frequently used by casual bettors as well.

Tennis

Tennis betting primarily revolves around moneyline bets. Given the specific nature of tennis matches, predicting the outcome of specific sets and participating in futures bets for major tournaments are popular choices among expert tennis bettors but can be quite tricky for casual bettors due to limited knowledge of match dynamics.

Basketball

Both NBA(https://www.sportingnews.com/en/nba?gr=www) and college basketball attract bettors with a penchant for spread bets. These bets add an extra layer of excitement, especially when games are decided in the final possessions. Moneyline and point total bets are also prevalent in basketball betting.

Baseball

In baseball, the most common bet types that are used are very close to those in Football. Moneyline bets take centre stage. The closely contested nature of baseball games makes run total bets appealing, offering bettors the opportunity to predict the overall score of the match. Baseball’s equivalent of spread betting, known as the “run-line,” is another popular choice.

Hockey

Hockey betting mirrors baseball in many ways, with moneyline bets and puck line bets dominating the scene. Betting on the total number of goals in a game adds an additional dimension to the wagering experience.

Golf

Golf betting provides a unique platform for betting on player props. Predicting the winner of a tournament and engaging in head-to-head bets, where two golfers compete against each other, are popular avenues for golf bettors.

Choose the Best Bet Types for You

Now that we’ve explored the diverse landscape of sports betting, the next step is to identify the bet types that align with your preferences and expertise. If you’re adept at predicting player performance, focusing on player props might be the ideal strategy. For those interested in team dynamics, deciding between moneyline and spread bets becomes crucial. Understanding the pace of a game could lead you to favour totals over money lines and spreads.

Sportsbooks strive to cover every aspect of the game, presenting myriad betting options. As a bettor, your advantage lies in focusing on specific areas and identifying potential disparities between public opinion and sportsbook odds.

In conclusion, sports betting is not just a game of chance; it’s a strategic pursuit that demands insight and understanding. Armed with the knowledge of different bet types and their applications in various sports, you are better equipped to navigate the dynamic world of sports betting. Remember, success in sports betting is a journey, and with each bet, you are gaining valuable experience and refining your approach. If you need a helping hand in this journey, read more of our articles here or have a look at our free community, where we help our members improve their betting by sharing the best data driven betting tips.