It is essential to know the different bets available before venturing into placing a bet. Knowing the type of bets will help you place the right type of bet, calculate your bet properly, and know how much to expect if you hit the jackpot. Having all the essential knowledge on bet can contribute to your winnings. Different sporting activities have different types of bets. Sporting activities to bet on include horse racing, football, handball, tennis, golf, boxing, volleyball, cycling, basketball, cricket, rugby, and so on. As the world revolves around technology, esports betting is the most popular type. Let’s take a glance at the different bets you can come across at bookmakers.
Win and Moneyline Bets
Win bet and moneyline bet both mean the same thing and can be used interchangeably. These two terms refer to the same thing, but punters only use one based on their jurisdiction. For instance, in other parts of the world, it is known as a win bet, and in the United States, this kind of wager is known as a money line bet. This bet is simply the fundamental of all bets, Whichever terminology you use. This bet allows you to select who you think will be victorious in a match. If you place your bet correctly and who you predict wins, you’ll also win your wager.
Future and Outright Bet
These two terminologies also mean the same thing. This kind of sports wager demands that you select the league’s winner, overall tournament, or competition. This bet is placed before the actual sporting event takes place, and this is where its name, “future bet”, comes in. The amount gotten from this bet is always huge and can be very risky because you are betting ahead of the competition or even before the season begins.
Single Bets
This is referred to as a one-off bet based on just one event. A punter wins a bet when they back their selection only to win a competition, race, or match that comes to pass. If you are new to the betting world, you should consider a single bet. This bet is very easy as you are betting on just one selection or outcome. And this selection can be a horse to win a race or a team to win a football match.
Each Way Bets
Here, you place two bets; one is the finish while the other is on the selection to win outright. In this type of bet, the stake is doubled and divided across the “place” and “win wager.”
Proposition Bets and Specials
A proposition bet also referred to as specials or prop bet, is quite different from the standard kind of bets you are familiar with. Here, you place a proposition bet on which player or team you feel will take the first score in a game. You can also bet on which team will have the first run or the actual time the first score will be recorded.
Place Bet
Place bet demands that a player bet on a selection to be in the top place of a tournament or race or finish first. Place term is different from event to event or race to race. Here, you back a selection to get a place position, always between the first three positions.
Multiple Bets
As the name implies, multiple bets are placed on more than one outcome. This bet consists of two selections to win different races. These bets are generous.
Total and Under/ Over Bet
This type of bet also has two names that are interchangeable within the jurisdiction. It is generally referred to as a total bet by punters in the United States of America, while other parts of the world call it under/over bet. These two terminologies also refer to the same kind of bet, and they are one of the straightforward bets that a beginner should consider. Using this bet with a winning bet can be very rewarding. With this type of bet, a certain total linked with a sporting event will be issued by sportsbook. This total bet correlates with the total number of points realized in a game. To place this type of bet, a bettor has to choose whether the total will come in under or over the number given by the bookmark.
For example, if a sportsbook sets the total line for two teams at 200, you will bet “over” if you think both teams combined will score above the 200 points in the game. On the other hand, you’ll bet if you believe that both teams combined will have a lesser score than the 200 points. You would win your total bet if you chose correctly.
Handicap and Point Spread Betting
This bet is common in the United States and many other parts of the world. Handicap and point the bet is placed on several sporting events, and it is referred to as the point spread bet, while in other countries, it is referred to as handicap betting. Like some of the unique bet types mentioned above, a handicap bet begins with you choosing the team you think will win the match with the accumulated point a bookmaker thinks the team will win the game by. Your role here is to choose whether you feel that the choice of the bookmaker is understated or over.
Accumulator Bet
Accumulator Bet has a minimum of four selections and all selections are meant to win. Winning stake and return from the first selection keeps on rolling over on to the next until the final bet is settled. This type of bet is usually used in football. To calculate this bet, the odds are gathered to make a greater value for the bettor and then multiplied. An accumulator calculator can also be used to calculate this type of bet. For this bet to be successful, all selections must win.
Calculating Your Payout
Knowing how to calculate your odds gives you an insight into what to expect as a payout. Every type of bet has great odds to generate a huge winning return. Let’s take how to calculate accumulator bets as an example. The payouts are calculated progressively as the total value increases with every single selection. All returns obtained from the first selection are placed on the second selection. If the second selection succeeds, the total return is rolled over to the third selection. This sequence repeats itself until the last selection. If any selection on the accumulator loses, a bettor will not receive any payout unless the bookmaker is generous enough to give out some returns.
Conclusion
The types of bets available are numerous, and in case you are scared of losing your money while placing a bet, you can watch out for the free bet offered to persuade new customers to sign in. You can use this freely to check how you’ll perform on your first bet, after which you can begin to explore the other types of beta available.
