When it comes to placing a sports bet, do you know what bet types are available? If not, here’s a quick refresher that covers the various sports bet options around, as well as common sports betting terminology.
Most sport bets are considered to be fixed odd bets, since both parties (the sports booker and the customer) are agreeing to the odds when a wager is made. So even if the odds have somehow changed, the initial wager that is won, is paid out at those agreed odds. You’ll find a variety of
When it comes to live betting, bets can be placed after the event has begun. In most betting scenarios, wagers can only be placed prior to matches beginning, but with live betting, a different set of rules is in play. In it, wagers can even be made right up until the match or game is about to end, which gives interested parties more opportunity to gather information on how the game is being played out and they can thus wager better – often, gaining a slight edge over book makers. Due to this, and the fact live betting is relatively new, it has become a very popular option for people online to enjoy.
Possibly the most popular bet around, straight bets are when you bet on the favourite or the underdog and thus will either give points to the favourite or get points if you bet on the underdog. In this manner, the favourite will need to win the game by more than the points set spread allocated. Underdogs in this same vein will need to win outright or only lose by less than the point spread given.
Money Line Bets
With a money line bet, you will need to try and choose which team will be winning outright, with no point spread. It sounds straightforward and it is. The risk however, is the amount you would have to bet in order to pick the favourite, compared to the amount you could possibly make if you choose to place a wager on the underdog instead.
Total Line Bet
This specific bet type is a very popular option, and is also called the over/under bet – since it involves picking the total score value of both teams combined, and then betting on the score staying under the total, or going over that number. In some sports, like football and basketball, you can place a total line bet on each half of the game.
Head to Head Bets
In sports like golf, soccer, or NASCAR, you’ll often have the option to place a head to head bet, in which you place a wager on the result between two competitors. Whosoever makes it to the end as the winner, or in the higher position, wins (eliminating the need for either of the two players to actually outright win the competition so long as they place higher than the other individual). Often, a money line will be given to each competitor to place a handicap on the match. This is a good option for betters to place a wager on as it has less variables involved with it, in comparison to picking a winning team.
When you start to put different bet types together into a single bet, you are building your own parlay bet. The only difficulty in cashing-in on a parlay bet is that all the picks you’ve made will need to win. This eliminates casual betters, due to the high risk involved – but in saying that, it can also come with a very high reward.