Types of Bets Explained – Learn About the Different Bets
A guide to types of bets. Find all you need to know about the different types of bets and how to choose the best one for you.
A guide to types of bets. Find all you need to know about the different types of bets and how to choose the best one for you.
Various Bet Types Available
Filipino bettors using online sportsbooks can explore a wide array of bet types. Popular sports such as soccer, volleyball, and basketball offer diverse betting options. Even niche sports feature their own range of bets. We’ve compiled a list of the key bet types that you should familiarize yourself with, particularly if you’re new to betting.
Win/Money Line Bets
Win or Money Line bets are a common form of sports betting where you predict a team’s victory. This type of bet doesn’t involve point spreads; it’s all about the team winning. Money Line bets are straightforward and can be applied to nearly any sport, with basketball being a prominent example. However, making a choice between teams can still be challenging.
Straight Bets
Straight bets involve wagering on a single game with either a point spread or money line. You can bet on the favorite and concede points or bet on the underdog and gain points. The favorite needs to win by more than the spread to yield a profit, while the underdog must either win outright or lose by less than the spread.
Total and Over/Under Bets
Total or Over/Under bets are favored by many due to their simplicity. You predict the combined score of both teams, with a half-point added to prevent ties. If the total score surpasses your prediction, your bet wins.
Parlays/Accumulator Bets
Parlays involve combining multiple picks into a single wager. Payouts are determined by the number of selections in the parlay, with all picks needing to be correct to win. Accumulator bets are similar but come with their own nuances, demanding accuracy in all selections.
Teasers/Pleasers Bets
Teasers and pleasers are advanced versions of accumulator bets. Teasers adjust point spreads or totals in your favor, while pleasers move them against you. Teasers have higher odds, making them popular, while pleasers require beating the original spread by a significant margin.
Point Spread/Handicap Bet
Point spread and handicap bets are similar, involving adjustments to teams’ advantages or disadvantages. Teasers shift these spreads in your favor, while pleasers work against you.
If Bets and Reverse Bets
If bets follow a specific order, where subsequent selections depend on the outcome of the initial one. Reverse bets combine multiple if bets, covering all possible orders. Initial stakes are multiplied by the number of orders.
Head-to-Head Bets
Popular in Nascar and golf, head-to-head bets involve wagering on one individual finishing ahead of another. Money lines are linked to each player, with an alternative option being an overall winner bet.
Proposition Bets and Specials
Proposition bets cover various scenarios, like predicting the first goal scorer. They offer opportunities for strategic decisions.
Futures and Outright Bets
Futures and outright bets focus on predicting tournament or league winners. These bets are placed before events begin, allowing advance selections.
Permutation Bets
Permutation bets involve multiple picks combined into various bets. Unlike accumulators, correct predictions can still yield partial winnings, making it complex and not recommended for beginners.
Exploring More Betting Options
Having covered the commonly known bet types, let’s delve into a few additional options. While there are numerous possibilities, here are a couple of less mainstream but still prevalent variants:
Grand Salami Bet: Designed for baseball and basketball enthusiasts, the Grand Salami is a parlay bet involving the over/under for the total lines across all games played on a specific day. It’s a comprehensive approach that requires predicting cumulative scores.
Both Teams to Score: This bet focuses on whether both teams in a match will score goals. However, the wager fails if only one team manages to score, emphasizing the necessity for goals from both sides.
Double Chance: Offering more security, the double chance bet lets you choose from three outcomes: a win for the home team, a draw, or a win for the visiting team. It’s a cautious strategy to increase your chances of winning.
Run Line Bet: In baseball, the run line bet parallels a point spread. With a constant spread of 1.5 runs, it doesn’t necessarily result in a 50/50 proposition due to game dynamics.
Puck Line Bet: Similar to the run line but for ice hockey, the puck line bet incorporates a 1.5-point point spread. This type of bet adds excitement to hockey matches.
Correct Score Bet: Prominent in soccer betting, the correct score bet involves predicting the precise final score of a match. While challenging to get right, the potential payouts can be enticing.
Exchange Bets: Exchange bets occur between major sportsbooks. Players can wager for or against an event, effectively acting as both bettor and bookmaker. This innovative approach offers a unique dynamic.
Sure Bets: Also known as safe bets, sure bets are wagers that guarantee a profit, regardless of the match outcome. This strategy capitalizes on variations in odds across different sportsbooks for the same event, ensuring a positive return.
These diverse bet types expand your betting repertoire, catering to different sports and risk appetites. As you explore these options, remember that each type comes with its own intricacies and considerations.
Selecting the Right Bet Type
Engaging in online sports betting can be both enjoyable and financially rewarding when approached wisely. If you’re new to this, you’re in the right place. Here are valuable tips to guide you in choosing the ideal bet type for your preferences:
Prior Research is Essential: Before placing any bets, invest time in thoroughly understanding the various bet types. Acquiring knowledge about their mechanics is fundamental to making informed choices.
Evaluate Betting Odds: Assess the odds associated with each selection before making your decision. If the odds seem unfavorable, explore options from other sportsbooks to potentially find better value.
Compare Across Platforms: Don’t hesitate to compare the odds offered by your chosen sportsbook with those from other betting sites. If you come across superior odds elsewhere, consider switching to that platform for your wager.
Continuous Learning: Sustained learning is a key aspect of achieving consistent profits. Stay updated with sports news, statistics, and emerging strategies to refine your betting approach over time.
Complexity vs. Probability: Remember that the complexity of a bet doesn’t necessarily correlate with its likelihood of winning. Simpler bets can yield substantial returns, and sometimes, less intricate bets are the smarter choice.
By following these guidelines, you can enhance your understanding of different bet types and develop a strategic approach to online sports betting. This informed approach increases your odds of success and a fulfilling betting experience.