The 5 Most Popular Bet Types Explained Anyone new to sports betting is most probably unfamiliar with the most common types of bets. Bets come in many types (which may be overwhelming to new bettors) with some being more complicated than others. However, they are not that difficult to understand and master either. In this guide, we feature the most popular sports bet types, so you know which bet type to opt for when placing wagers on your favourite sporting events.
Handicap bets are one the most popular types of bets among seasoned bettors. In this type of bet, the match favourite is hypothetically put in a handicapped situation. The underdog, on the other hand, begins the match with favourable results. For instance, in a football match with a favoured team (A) and an underdog team (B), online sportsbooks can place a handicap on both teams, giving team B an edge at somewhat lower betting odds. The main point of handicap bets is to level the winning chances for both sides. This is often an attractive bet in a sport that is expected to be one-sided. You can read more here about handicap bets.
These are also called accumulators or multi-bets, based on the region using them. A parlay bet in sports betting refers to a bettor making two or more bets, tying them into one bet. This type of bet may consist of two single bets or more. For a bettor to win a parlay bet, each bet or “leg” in the parlay has to win for the bettor’s wager to cash. To learn more about placing parlay bets, you can read more here.
Prop bets are also called specials. These types of wagers are often inventive and fun but involve more luck than any other bet type as the odds is typically long. Seasoned bettors often stay away from these types of bets for this reason. However, with informed decisions, some of these can turn into great opportunities for earning cash. Prop bets are typically specific bets that do not affect the outcome of any match directly. The most common prop bet types are game and player props. Maybe one day you will come across one of these prop bets that are just too good to turn down.
Moneyline or win bets are, by far, the simplest ones to pick up with basic rules to follow. Even though both mean the same thing, win bets are used globally, whereas Moneyline bets are most prevalent in the US. In this bet, the bettor places a wager on whatever team they think will win. If their chosen team wins, the bettor will also win. This varies from sport to sport. For instance, in games like football, the bettor will have the draw option to place their wager on. In other sports, like Tennis for example, bettors will only have two options. Find out more about money line bets here.
Outright bets are also called ante-post bets or futures bets. If a bettor has a favoured player or team, they want to bet on to win a tournament, outright bets will suit them best. Outright bets involve betting on the potential winners of a competition. These bets can be placed weeks or sometimes months before the competition begins. When making an outright bet, bettors win if their preferred player or team manages to win the competition, they are playing in.
Ultimately, sports betting markets play an integral role in the online gambling industry. Before dabbling in sports betting, knowing the different types of bets (and their rules) is crucial. It also helps to consider popular betting markets before betting since they offer competitive odds.