Understanding the various types of bets available on online bookmakers can significantly enhance your sports betting experience. By familiarizing yourself with these different betting types, you can make more informed decisions and increase your chances of winning. This guide will cover the most common and essential betting types, explaining their rules and how to use them effectively.
1. Introduction to Online Betting Types
What Are Betting Types?
Betting types refer to the various ways you can place wagers on sports events. Each type has its own set of rules and potential payouts, allowing bettors to choose the best options based on their knowledge and strategy. There are over 100 types of various bets on recent online bookmakers.
Different betting types offer various levels of risk and reward. Understanding these types helps bettors diversify their betting strategies, manage their bankrolls effectively, and make more informed decisions.
2. Basic Betting Types
This section covers the fundamental betting types commonly offered by online bookmakers.
1x2 (Three-Way Betting)
1x2 betting is one of the simplest and most popular forms of sports betting, especially in football (soccer). In this type of bet, you have three options: home team win (1), draw (x), or away team win (2). Note - For this bet, the result is determined only in regular time(90 minutes), 1st half, 2nd half, and the additional time, not including extra time and penalty shootout result.
1x2 betting is the most popular in football (soccer). You can bet 1x2 types in rugby and boxing matches. But in these sports, x(tie) odds prices are extremely high because the draw result rarely happens, so two-way betting that eliminates the draw option is more prevalent.
MoneyLine
The Moneyline is a popular form of sports betting that focuses on predicting the winner of a match. Unlike point spreads, which consider the margin of victory, the Moneyline only concerns which team or player will win.
This type of bet is common in sports like basketball, baseball, tennis, and other. The word MoneyLine is widely used in betting for American sports, while for others, it is called Two-way betting or match winner as simple.
Over/Under (Totals)
Over/Under bets, also known as Totals, involve betting on whether the total score in a game will be over or under a specified number. This type of bet is popular in many sports, including football, basketball, baseball, etc.
You can bet with the over/under prediction for various aspects of the match, like the "total number of corner kicks," "total cards in the match," and "total shots on target by a specific player" in football. For tennis, e.g., total games in the match, total aces, etc.
Over/Under is one of the most common betting types, as well as 1x2 and moneyline(2-way) betting above and spread(handicap) betting, as explained below.
3. Spread(Handicap) Betting
Spread(handicap) betting are popular ways to level the playing field. This section explains how these bets work.
What is Spread Betting(Handicap Betting)?
Spread betting involves betting on the margin of victory in a game. The bookmaker sets a spread, and you bet on whether the favored team will win by more than the spread or if the underdog will lose by less than the spread or win outright. This type is prevalent in Football(Soccer), basketball, American football, ice hockey, rugby and all other major sports.
The terms "point spread" and "handicap" mean almost the same in online betting. Point spread is generally used in American sports such as basketball, baseball, American football, and ice hockey, while the word handicap is common in football(soccer), rugby, etc.
Asian Handicap / Two-way Handicap
Asian Handicap betting removes the possibility of a draw by offering a handicap that can include half or quarter goals. This type of bet is popular in football (soccer) and provides more balanced odds by giving an advantage to the underdog.
The Ultimate Guide to Asian Handicap Betting: Rules and Results Table
European Handicap / Three-way Handicap
European Handicap, also known as 3-way handicap, is a betting market where one team is given a goal handicap while the other is given an advantage. This type of betting aims to balance the match by adjusting the perceived strength differences between teams.
European Handicap Betting Guide - Rules and Results Checking Table
4. Specific Outcome Bets
Specific outcome bets focus on predicting exact results or specific events within a match.
Correct Score
Correct Score betting involves predicting the exact final score of a game. This type of bet can be challenging but offers high payouts due to its difficulty. It is often used in football (soccer).
Point Race
Point Race bets involve predicting which team will reach a specific number of points first in a game. This type of bet is common in basketball, baseball, rugby, ice hockey, etc.
Winning Margin
Winning Margin bets involve predicting the margin by which a team will win a game. This type of bet is common in sports like rugby and basketball and can offer attractive odds.
Player Props
Player Proposition (Prop) bets are wagers on specific player performances, such as the number of points a player will score or the number of assists. These bets are popular in many sports, including football(soccer), basketball, American football, rugby, ice hockey, cricket, etc.
In recent online betting, player prop markets have increased diversely due to improving sports analysis technology. For example, you can bet a market shot on target with left or right foot(see image above) on some football matches in popular competitions. You will get more excitement with betting niche props.
Player Prop Bets Explained: How to Bet on Player Performance in Sports
5. Outright Bets
Outright bets are long-term wagers on the overall winner of a tournament or league. These bets are placed before the competition starts and can offer significant payouts. They are popular in all major sports. Bookmakers offer different types of outright markets for each sport.
Here are some examples of outright markets for football, basketball, American football, and tennis.
Football Otright Markets Example
Football is the outright betting market paradise! Online bookmakers offer many types of bets before starting leagues and competitions. What market you can bet on depends on the website and leagues. Here is the list of actual types of bets for the English Premier League.
- To win outright
- Winner without favorite
- Winner without big 6
- Top 2 finish
- Top 4 finish
- Top 10 finish
- Bottom 10 finish
- To finish bottom
- Relegation
- Relegation teams triple
- To stay up
- Winner & to finish bottom double
- Straight forecast(predict 1-2)
- Dual forecast(predict 1&2 combination)
- Tricast(predict 1-2-3)
- Top goalscorer
- Player with the most assist
- Top London club
- Top Midlands club
- Top Northwest club
- Top at Christmas
- PFA player of the year
- Team to score the most goals
- How many trophies a specific team gets in a season?
Bookmakers offer the most various markets for the EPL, while for other European leagues, only winner, top goalscorer, relegation, etc.
On the other hand, for international competitions such as the World Cup and EURO, there are so many markets you can bet not available for leagues, like group winner, to reach the final, name the finalists, etc.
Basketball(NBA) Otright Markets Example
Basketball fans and bettors love outright betting for the NBA because there are many attractive markets, such as the Final winner, predicting conference champion, divisional top teams, and each stats leader and Award winner.
- To win outright(Winner of the NBA final)
- Eastern/Western conference winner
- Each division winner
- To qualify play off - Yes/No
- Awards - Regular Season MVP
- Awards - Rookie of the year
- Awards - Most improved player
- Awards - Coach of the year
- Awards - Six man of the year
- Awards - Defensive player of the year
- Awards - Clutch Player of the Year
- Stats Leader - most points per game
- Stats Leader - most rebounds per game
- Stats Leader - most assists per game
- Stats Leader - most blocks per game
- Stats Leader - most steals per game
- Stats Leader - most 3 point shots per game
American Football(NFL) Otright Markets Example
American football outright betting markets are similar to basketball's: the main options are the Super Bowl winner, conference winner, each division winner, and bets on individual performances.
- To win outright(Super Bowl winner)
- AFC/NFC conference champion
- Each division winner
- Into play off - Yes/No
- Regular season wins - Over/Under
- The team with the most wins
- The team with the least wins
- The Most scored team
- The least scored team
- Award - Regular season MVP
- Award - Offense MVP
- Award - Defense MVP
- Award - Offensive rookie of the year
- Award - Defensive rookie of the year
- Award - Comeback player of the year
- Award - Coach of the year
- Stats Leader - Most passing yards
- Stats Leader - Most receiving yars
- Stats Leader - Most rushing yards
- Stats Leader - Most receptions
- Stats Leader - Most interceptions
- Stats Leader - Most sacks
- Stats Leader - Most passing touchdowns
- Stats Leader - Most receiving touchdowns
- Stats Leader - Most rushing touchdowns
Tennis Otright Markets Example
Tennis is one of the most popular sports for betting online. You can bet all ATP(men) and WTA(women) pro tournaments, including Grand Slams, Masters 1000, and other lower categories. Bookmakers offer tournament winner markets for each competition before the first match day. For Gland slams, bookies add some special markets like quarter betting, name the finalists, and elimination stages.
- Tournament winner
- Name the finalists
- Quarter betting
- Stage of elimination
6. Multiple and Combination Bets
These bets involve combining multiple selections into a single wager for potentially higher returns.
Parlays/Accumulators
Parlay(Accumulator) bets involve combining multiple selections into a single bet. All selections must win for the bet to pay out, but the potential returns are higher due to the increased risk.
Teasers
Teaser bets allow bettors to adjust the spread or total in their favor on multiple games, resulting in lower odds but a higher chance of winning. This type is common in American football and basketball.
Conclusion
Understanding the different types of bets available on online bookmakers is crucial for any sports bettor. By familiarizing yourself with these betting types, you can make more informed decisions, diversify your betting strategies, and increase your chances of success. Remember to always bet responsibly and to use this guide to help you navigate the various betting options available.
By mastering these different betting types, you'll be better equipped to take advantage of the opportunities offered by online bookmakers. Whether you're a beginner or an experienced bettor, knowing your options can make your betting experience more enjoyable and potentially more profitable.