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Different Types of Sports Bets Explained
Today, sports betting is very popular, due to the wide choice of available sport disciplines and the variety of bets punters can place. Here is an overview of several top types of sports bets.
1. Win Bet / Moneyline
A win bet is one of the most popular types of wagers in sportsbooks. It is considered the traditional form of betting, and is easy to understand. Win bets are prevalent in every sport and refer to predicting the winner of a game or sports event. In this case, punters only pick the winner of a single competition.
2. Point Spreads / Handicaps
In general, point spreads and handicaps are considered the same type of bet: the term handicap betting is used in the United Kingdom and Europe, while in North America, punters refer to it as point spreads. In this case, punters don’t bet on the winner, but instead, on the participant who will “cover the spread.” The bookmaker determines which team is favored to win the match and the total number of points the team will win by. Then, puntersdecide if the number is too high or too low.
Do not miss: Ultimate Guide to Different Types of Sports Bets
3. Total bets / Over-Unders
Totals, also referred to as over-unders, are a very popular and easy to understand type of bet. The concept is that the bookmaker determines the total number of points or goals to be scored in the game. Then, punters can bet on whether the actual number will be higher or lower than the line set by the betting company.
4. Prop Bets / Specials
Prop bets (proposition bets), also called specials, are wagers on specific aspects of a sports event that may not even have influence on the final outcome. There are many various kinds of prop bets, as any part of the sports event can be chosen to bet on. For example, here are several possible props that are available while betting on football:
- who will score a goal first;
- the time of the first goal;
- if there is a penalty;
- if the team that scored first wins the game;
- if player A scores more goals than player B, etc.
5. Outrights / Futures
Futures and outrights are two different names for the same type of bet. Punters make long-term bets, predicting a future outcome by choosing which team will win the league title, or the outcome of the season or series.
Do not miss: Why Launch a Sportsbook?
6. Parlays / Accumulators
Parlays, or accumulators, are also called multiples. The idea is that punters make more than one selection as part of a single wager. For instance, they can decide to back several teams to win their next games. Punters have to get every selection correct, as only in this case do they get their winnings.
Forecast betting is mainly used in horse and greyhound racing. Punters have to determine the order in which competitors will finish the race, usually predicting the first two places.
8. Live Bets
In-play live bets are a popular type of wager where punters bet during the sports event. In this case, odds tend to change very rapidly, allowing gamblers to increase their winnings.
There are numerous types of bets available, making it possible for punters to choose the most convenient and profitable ones.
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