Types of Sports Betting Explained
3 minutes
Last Updated: August 30, 2023
Sports betting has splendidly revolutionized the world of sports. It has made the fans even more zealous about their favorite sports teams because their successes have possible financial gains.
Unfortunately, their losses become even more impactful, but we do not want to imagine such scenarios.
To sports people, these games are just sports. But in the gambling world, they are termed as markets. The most popular markets include:
- Football
- Rugby
- Horse Racing
- Tennis
- Boxing
- NFL
All these markets have different leagues that you can wager on. You can look at them the same way you view the myriad of slots and casino games at leagueofslots.com.
The multiple betting options create a sweet story for sports bettors. If you are planning to delve into this world, then perhaps it is prudent to learn the different types of sports betting.
1. Win Bets or Moneyline Bets
This is the most straightforward type of sports bet. It simply requires you to select the team or the individual that will win a certain event.
Most sports events like football allow you to pick either of the teams or a draw. For instance, if Manchester United is playing against Arsenal, you can bet on Manchester United, Arsenal, or a draw.
Advanced casinos have also allowed players to lower the risks by wagering on two possible scenarios.
For instance, in the above scenario, you could bet on Arsenal or Draw. Hence, you will only lose if Manchester United wins.
If you are feeling lucky, you could proceed to place a bet on the exact scoreline that will emerge from the game. For example, you could predict that Arsenal will win by 3 goals to 1. They usually have the biggest odds.
2. Handicap Betting
This is a sweeter version of the win bets where you take a bigger risk by predicting the margin of the win.
For instance, in the above scenario, you can pick Arsenal and further place a handicap bet of more than +2 goals. Hence, you will only win if Arsenal wins by 2 or more goals.
3. Over/Under Bets
This type of betting allows you to predict the total points that will be scored in a certain sports event. It is also referred to as Total bets in some gambling circles.
In the above game, you could wager on whether the game will be over or under 2.5. If you choose Over 2.5, you will emerge victorious if the total number of goals in the match is 3 or more. For instance, if the game ends 2-1.
4. Outright Bets
This type of betting allows you to pick the winner of a certain league or tournament. It usually comes at the beginning of the season when you can predict the overall winner.
Meaning, you could bet that Arsenal will win the Champions League before even the tournament begins. These ones are risky bets, so they usually come with juicy odds.
5. Multi Bets
Just as the name predicts, Multi Bets allow you to bet on two or more picks. The odds keep accumulating making it so tempting. These bets are also called parlays.
For instance, you can bet on five different games and wait for the results after all the games are over. They are the foundation behind Mega Jackpots in sports betting.
However, they are risky because if one team out of the five loses, then the whole bet is lost.
You can also place a multi-bet on the same game. For example, you bet on the winner, whether the game will be over/under a certain value, the first team to score, and more. This is possible in the top casinos.
6. Prop Bets
There are different kinds of props betting in different casinos. They essentially allow you to bet on anything.
It could be the number of yellow or red cards, the number of corners, the team to score first, the half with the most goals, the player to score, and many others. There are endless possibilities with this one so you can find diverse options.
7. Live Betting
This is another form of wagering worth exploring. It allows you to keep wagering on as the game continues.
For instance, you could place a bet in the 50th minute of an ongoing game that Team X will score the next goal.
This kind of betting can keep you engrossed throughout the sports event. It is the one that will force you to follow the match actively and not passively like the rest.
These are the top 7 types of sports betting that you can explore. They can make you sink even deeper into the world of sports in an exhilarating way. Sports betting is certainly where the magic of betting lives.
