Types of sports betting

Sarah Parker
Authored by Sarah Parker
Posted: Tuesday, April 27, 2021 - 22:36

Sports betting happens more often than one can imagine. People predict the winning and losing sides of a particular sport and place a decent wage in simple terms. The one with the correct prediction usually takes home all the wager in the pool. 

“Sports betting is an emotion. The thrill that it packs along is unthinkable. Every move made by a team or an athlete brings different emotions”, according to sport betting site w88vietbet.com

History of sports betting

Sports betting dates back to as early as the 1900s. People often bet on horse riding and later moved on to other sports, including baseball and soccer. Soon, sports betting became an art. It drew more and more people into it. It gained a lot of popularity. One could win an amount he never thought he would have in a lifetime, while at the same time, he had almost everything at stake. It had its risks, which is why, by the 1960s, it was declared illegal. 

Are sports betting legal?

The growing popularity of sports betting led to most states legalizing it. The concept of betting remains the same. However, bets now have types and categories. Indeed, there is no definite answer to which type of bet is the best. It depends on how wise the one placing the bet is, the sports he is betting on, and the circumstance surrounding the betting conditions.

Types of sports bets

There are many types of sports betting. Some are relatively new, while some date back to the time when sports betting first began. Owing to the different classes in betting, amateur bettors can find sports betting complicated and confusing. This article describes some of the key betting types in sports. Read on to know more!

  1. The Moneyline bet

The money line is the most common form of sports betting. When you make a money line bet, you directly predict the outright win of a team. If you place bets on a team more likely to win, you are not entitled to any favourable odds. You may end up betting $5000 to pocket $1000 if you win. Hence, the risk here lies in betting a lot more than you can win. Bettors bet the 'money line' way in baseball and hockey. 

  1. Handicap bet

Handicap bet finds its way when one team is far more superior than the other. Bookies use this form of betting to make gambling an even event. They facilitate betting in such a way that both progress and success are equally tricky. They provide several other odds other than the usual - win, lose and draw. In simpler words, bookies give one outcome an advantage and disadvantage to the other. Rugby, tennis and golf attract handicap bettors.

  1. Over/under

Over/under, also known as 'totals bet', leads to betting on a combined score of the two teams playing. Bettors place bets against the total facilitated by their bookie. They aim to determine if the combined score falls over or under the total set by the bookie. 

  1. Futures

As the name suggests, bettors place bets on sports events that are yet to occur. A wager is set on a sporting event coming up in the future. Such stakes are prominent when the odds of a particular team or athlete winning the title/event are favourable. Season-long sporting championships are the best events for futures betting.  

  1. Prop bets

Prop bets are one of the most' fun types' of bets. One need not have a precise understanding of how real betting works. Wagers are placed on game tendencies. If you have been watching the game for quite some time, you can easily make the correct predictions. For example, you can place a prop bet on who may be the first player to score a touchdown. 

  1. Full cover bets

A full cover bet is a collection of bets. It comprises three to eight different bets on either the same or different games. These bets are called selections. Each selection/bet is denoted as an individual bet. Bettors must win at least two selections to receive a payout. 

  1. Parlay bets

Like full cover beats, a parlay bet is a collection of bets to pave the way to a large wager. More the number of bets, the more the payout. To take home the considerable wager, the bettor must win all the single bets. He brings home all the winnings and his stake. If he loses, he loses it all. Round robin bet is a subset of parlay bet. It consists of two different parlays, each composed of three to ten teams. If one of the team misses a hit, the entire parlay loses. 

  1. Teaser bets

Teaser bets are similar to parlay bets, only safer. Just like round-robin net, teaser bets require multi-team bettings. The bettor has the liberty to bet over two or more games and combine them into one single bet. Wins in all the games are mandatory to win the combined or teaser bet.  

  1. In-game bets

As simple as it sounds, in-game betting involves placing bets after the game has started. Betters can place bets on the ultimate result of the game or game tendencies. Some bookies facilitate the over or under betting within an in-game. The betting is made interesting by offering wagers between quarters, periods or after every single progress the game makes while inching towards an end. 

The takeaway

The ultimate takeaway is that you should determine which type of bet works the best for you. Fiddle around strategies and figure out the best. Playing with a strategized mind will help you win consistently and pocket in a decent income. Although, you must fully understand every bet that you place. Understand it's working and become a wise bettor.