Bet Types
If you are willing to learn about the bet types, you are in the right place.
In this article, we will explain different types of bets. By the time you finish reading the article, you will have a good understanding of what your betting options are and how they all function. Now let’s take a look at them.
Totals and Over/Under Bets
People in United States most often refer to this bet type as a total, while the rest of the world calls it an over/under bet. But it’s basically the same type of sports bet. Over/under bets are a very simple, therefore beginners can easily make use of them and start betting with it. In many cases, over/under bet is tied to the number of points scored in the game. When you place that type of bet, you have to decide if you think the total will actually come in over or under the number set by the sportsbook.
Point Spread
and Handicap Betting
This type of bet is commonly used in United States. But another similar version of it is also common in the rest of the world. In that bet type, sportsbook will assign a total number of points they believe that team will win the game by. You should decide if the sportsbooks favored team to win the match is over or understated.
Parlay/Accumulator Bets
This is where things begin to get complicated. This betting type is not suggested for beginners because of its complexity. With this type of bet, you are actually combining multiple bets to make a one bet with a single wager.
For example, you can place accumulator bet on five different football matches, your picks must be accurate for all five matches. If just one of the picks is incorrect, you will lose the accumulator bet, even though your other picks were correct.
If/Reverse Bets
These are the most complicated bet types to understand. These bets are ones where you will make more than one selections but depending on your picks, how things play out can change. For example, with if bets, you will pick two or more wagers joined by a common cause. If your initial pick is incorrect, all subsequent wagers are off. So you have reduced risk with if bets, which makes them safer than standard parlay wagers. With reverse bets, you are combining two if bets into one bet. For the first part of the wager, you will place an if wager on your first and second selection in order. Then there will be another if bet for your second selection followed by your first one. So basically, reverse bets work in both ways.
Win/Moneyline Bets
In the United States, most of the people refer to this type of bet as a moneyline bet. Around the rest of the world, it’s called a win bet. This is the easiest bet type, you simply select a team that you believe will win the game or match that you are betting on.
Futures and Outright Bets
Futures and outright bets also mean the same thing. In this type of bet, you are betting on a team/player that you believe will win the tournament, competition or league. That’s where it gets its “future” name. Future bets can be risky and you might have a low chance to win, but the odds are higher than any other bet type.
Teasers and Pleasers
These bet types are similar to parlays and accumulators, but there are some differences between them all. With teasers, you will pick the string of bets that you want to make, and then you can move around the point spreads in your favor to have more chance of winning the wager.
You can also place a pleaser bet, which makes it harder for you to win. It will move the point spreads out of your favor so you will have a disadvantage to winning. However, the potential payouts will be higher if you win the wager.
Permutation Betting
With this bet type, you will make multiple selections like parlays, but you place numerous wagers through the combination of the selections. That bet type is also not suggested for the beginners because of its difficulty.
Conclusion
The key of becoming a professional sports bettor is the knowledge. Now you have enough knowledge about the betting types with the help of the article. You can put the things you have learned today in practice!
