The Most Common Types Of Bets In Online Sports Betting
Though the odds system may differ from country to country around the world, the following common types of sports betting are largely the same wherever you go.
Moneyline & Win Bets
Moneyline bets, also known as win bets, are generally the most common and simple type of sports bet. They involve wagering on who you think will win, and that’s it. Sportsbooks will set the odds, which will in turn determine the payout, and the greater the odds against your chosen team or player winning, the greater your resulting payout will be, and vice versa.
Totals & Over/Under Bets
Totals bets, also known as over/under bets, is a dynamic betting type, that involves sportsbooks predicting, e.g. a points score, and then you, the bettor, will wager on whether the actual resulting points score will be over or under the predicted amount. This can range from tournament points, to goals, runs, laps, or player ranking, all depending on the given sport and its rules. Furthermore, the point score will likely change during course of the competition, making it a more exciting and challenging betting type.
Point Spread & Handicap Bets
Point spread and handicap bets are a bet that goes by different names depending on where you are in the world. Though they have minor differences, they both involve the sportsbook determining which team or player they favour to win, and then calculating an estimate margin of points that they might win by. You can then either wager that the sportsbook estimate is correct, or that the other team will beat it.
Futures & Outright Bets
Futures bets, also known as outright bets, is a type of wager made on a team or player winning a game, competition, or league, etc, though with this bet, it is done well in advance of the actual competition or event. The further away one is from the event, the lower the odds will be. Though this a more rarely-used and risky type of betting, the potential wins can be spectacular.
Proposition & Specials Bets
“Prop” or specials bets are a different type of sports bet that allows bettors to wager on “special” aspects of a sport. This may be, e.g. the first goal scored in a soccer game, or the first run in a game of cricket, etc, and have an expansive range, according to the sportsbook and also the sport of course.
Parlays & Accumulators
Not the sort of betting type for beginners, parlay and accumulator bets basically allow a bettor to place several bets in a row. If each bet wins, the winnings will accumulate, usually in spectacular fashion. If even one of the bets loses, however, all bets are lost.
Other Betting Types
- Teasers & Pleasers – A mixture of the accumulator and point spread betting types.
- If & Reverse Bets – A complex system of combined wagers.
- Permutation Bets – The most complex betting type of all, involving multiple selections and wagers. “Permutation” refers to the numerous possible ways that the wagers can be ordered and arranged.