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Types of sports betting | Bet Types Comprehensive Analysis

New players are frequently overwhelmed by the incredible diversity of types of sports betting. There are plenty of options, but in this betting guide, we explain them in a manageable format. They provide unique opportunities for educated punters and can be combined to create lucrative betting strategies.

Some of these betting types can be used on every sport, while others are limited to one or a handful. Used properly they can mitigate the house edge and give bettors a fighting chance.

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Easiest Bets To Place

When considering different types of sports betting, beginners should focus on the easiest options. The ones that can be used in several sports should represent the priority. If you are new to online betting, these are the five basic options will find in any respectable sports betting guide:

Moneyline bet

You bet on the outright winner of a match while removing the possibility of a draw. Moneyline bets are specific to baseball and basketball but can be applied to ice hockey and other sports with overtime and penalties.

Regulation time bet

You bet on the results recorded before overtime or penalties. This is one of the obvious choices when you learn how to bet place a bet online and it is used mainly in football. It has the merit of greatly boosting odds in ice hockey.

Spread bets

Sometimes referred to as handicaps, spread betting is a popular choice for American sports. They give an advantage to the underdog while setting the handicap for the favorite. Players use them in betting strategies to minimize the risks or boost the odds.

Straight bets

This bet refers to the number of events you have on a betting slip. You bet on a single match, which reduces variance, as you need to win a single bet. It applies to all betting markets and works for every sport, which makes it a great choice for beginners.

Accumulator bets

Commonly referred to as parlays, these are betting slips with multiple selections. The odds are multiplied, so the potential winnings are significantly boosted. They work for any sports bet type and they can be mixed in any combination.

Different Types of Sports Betting options

Don’t get stuck on a handful of bets, when there are so many lucrative alternatives, even not so popular bets like transfer betting. You can find better-paying options for each sport, and even combine them on the same betting slip. Accumulators and the new Bet Builder options available at bookmakers can spice things up and increase payouts.

Handicap Bets

Handicaps can be used to boost the odds on the favorite team or mitigate the risks on the underdog. If Manchester City gets odds of 1.10 against Ipswich, you can take the -2 goals handicap at odds of 2.30. Manchester must win by three goals or more to win the bet. Alternatively, you can take the +2 goals handicap on Ipswich at odds of 1.65 and win if they prevail, draw, or lose by less than two goals.

Asian Handicaps

These are more flexible and subtle versions of the classic handicaps. In football, they present the possibility of a draw no bet in case of the 0:0 Asian handicap. If you bet on a team to cover the -1.5 goal spread, you win if it prevails by two goals or more. This type of handicap is also used in ice hockey, basketball, and other sports but the spreads are much wider.

Double Result Bets

To win this bet you must correctly predict the results of that half-time and full time. Teams that start aggressively but lose steam in the second half could lead after 45 minutes and lose the match. In other games such as Leipzig versus Juventus a German win at half time will be prized 2.75 while an Italian trial at full-time would get 3.05. A double result bet Leipzig/Juventus would produce odds of 30.

Total Points Scored

This is one of the most popular types of sports betting because it applies to all sports. In football, they are called goals and the standard line is set at 2.5. In ice hockey, they go by the same name but the line increases to 6.5. You can bet on the total runs scored in baseball and expect average values of 8.5. The most exciting types of bets are in baseball, where over 220 points are frequently scored in the NBA.

To Win Either Half

A more conservative option compared to the double result bet, it focuses on the winner of individual halves. On one hand, you can bet on the results after 45 minutes and take winnings regardless of what happens in the second half. Live betting fans can watch the game and decide at half-time what team is more likely to win the second half. This is the perfect choice for bookmakers with live streams.

Bet Builder

One of the modern types of sports betting is called bet builder. It is a type of accumulator that allows players to create a parlay with multiple selections from the same game. With enough research and sports betting experience, it can greatly increase the odds. This is the best way to maximize the return on investment while betting on a single match, but it can be challenging for beginners.

Total Line Bets

A total lines bet is a combined number of goals or points in a single game, sometimes referred to as alternative goal lines or over 0.5 goals. The total line bet could be over or under a particular margin. So you can bet over or under the number of goals that both teams will score at the end of the game. You can even bet on over 6.5 goals to be scored.

For instance, if Manchester City vs Liverpool, you can stake that the total number of goals will be over 3 goals. At the end of the game, if the score is 1-3 in favour of Liverpool, you will win the bet. But if the goal is lower than the 3 goals, you will lose the bet.

Proposition Bets/Specials

Tip

Proposition bets for football

  1. Which player will score the first goal – you win if the player indicated scores the opening goal, regardless of who wins the match.
  2. Which team will score the first goal -instead of indicating the player, you simply need to predict the team that opens the score.
  3. How many yellow cards in the first and second half – the total number of bookings shown in the first and second half determines the payout.
  4. The number of corner kicks – corner betting and Asian corners – you can bet on the total number of corners in a match or scored by individual teams. You can also bet on the team to have the most corner kicks and even tinker with spread betting.
  5. How many red cards in the first and second half -the total number of players sent off in the first and second half determines your payout.
  6. The number of fouls – this bet counts all the fouls committed by one or both teams and sanctioned by the referee with a freaking.
  7. How many throw-ins – this bet factors in the total number of throw-ins recorded in the game.
  8. The number of penalties in a match – betting on penalties – you need to indicate the total number of penalties, and it doesn’t matter if they are converted or not.
  9. Which team manager will be sacked – this is a long-term bet that will try to predict if a manager will be fired before the end of the season.

The props betting options are so many. Sometimes, each match has a peculiar props betting option. Other sports like NFL Football also have their unique props betting options. 

Tip

The props betting options available in NFL Football are:

  1. Game props – these are the most intuitive prop bets, as they are centered on the total number of goals and spreads
  2. Team props – these are usually bets regarding the total number of yards for the goals scored by our team.
  3. Player props -you bet on the performance of star players, such as quarterbacks, including the points, assists, and tackles.
  4. Specials – you bet on the total number of touchdowns, field goals, and other points scored in a match.
  5. NFL season props – you can bet on a team to finish ahead of its rivals, go to playoffs, or win the Super Bowl.

You can stake a bet on how many points a player will score or the number of fouls. Check the sports live betting website for some of these props options, it improves your chances of winning. So instead of staking for straight wins or handicaps, just go for props bets.

MoneyLine Bet

A Moneyline bet has to do with placing a bet on the team that will win the match. The difference between point’s bets and Moneyline is the outcome of the game. While the former has to do with who wins with a particular point, the latter is basically about who wins. Usually, Moneyline bets may be difficult to understand.

Let’s draw our illustration from a baseball match.

Run line

Moneyline

Over/under

Boston Red Sox
Run line
-1.5 -105
Moneyline
-165
Over/under
O +8.0 -125
J Happ
Run line
+1.5 -115
Moneyline
+140
Over/under
U +8.0 +105

Tip

Full Cover Bets

It’s a bet that is a combination of multiple bets, accumulators, straight bets, handicaps etc. It comprises several betting options. The interesting thing about full-cover bets is that you don’t need to win all the bets to get your profit. They are also called system bets. The various types of full cover bets are:

1. Trixie Bet
This full cover betting option is made up of 4 wagers on 3 selections. It comprises 3 double bets and 1 treble bet. To get some returns, at least two of your bets must win.
2. Yankee Bet
This comprises 11 wagers on 4 selections in different. It is a combination of 6 doubles, 4 trebles and an accumulator. Two of these bets must win to get some profits.
3. Super Yankee
It is also referred to as the Canadian full-cover bet. It comprises 26 wagers on 5 events. It is made up of 10 doubles, 10 trebles, 5 accumulators and one 5-fold accumulator. Two of these games must succeed to get your profit.
4. Alphabet Bet
It is made of 26 bets, like the number of letters in the alphabet. The Alphabet bet covers 6 selections and is made up of 6 singles, 12 doubles, 6 trebles, 1 fourfold accumulator bet and 1 sixfold accumulator. You must win at least one selection in order to get a return.
5. Heinz Bet
It is made of 57 bets. Your selections must cover 6 different games. The entire combination must be made up of 15 doubles, 20 trebles, 15 fourfold accumulators, 6 fivefold accumulators and 1 six-fold accumulator. You must win at least 6 selections to get some returns.
6. Super Heinz Bet
This is made up of 120 bets that cover 7 selections in various events. It consists of 21 doubles, 35 trebles, 35 accumulators, 21 fivefold accumulators, 7 sixfold accumulators and lastly 1 sevenfold accumulator.
7. Goliath bet
This is the highest among all the full-cover bets. It consists of 247 bets and 8 selections of various events. Two of the selections must succeed to get a profit.

From the above, our interest here is in the money line column offered by the preferred mobile betting sites you use. The money line for Boston Red Sox is -165 while for J Happ is +140. The Red Sox are favoured to win this match (don’t forget the minus sign before the point means that the team is favoured to win the other team known as the underdog).
This simply means that you have to stake $165 in favour of the Boston Red Sox to win $100. On the other hand, you have to stake $140 in favour of J Happ to win $100. So if either of the bets goes as planned, you will receive a profit of $100 plus your $165 or $140 depending on the outcome of your bet.
This illustration applies to all other sports like Hockey (see our NHL betting system), basketball, NFL Football and so on.

Futures and Outright Bets

A future bet just like the name implies means predicting the team that will win the season or competition. This type of wager is fun because all you have to do is sit back and wait till the end of the season or competition.

For instance, you can predict the winner of the Super Bowl. Assuming you bet in any currency that Seattle Seahawks will win the Super Bowl, it means that this team will have to qualify for the Playoffs and eventually win the Super Bowl. This requires a lot of patience on your part. Most often the profits are very high if the team you selected eventually wins.

An outright bet means the same thing as a future bet. Below are some of the benefits of this type of bet:
1. It’s fun and entertaining
2. It’s a single bet with one of the highest payout
3. No pressure to win

Parlay Bets/ Accumulators

A parlay bet is also called accumulator. Several experiments with these forms of sports betting have shown that it is difficult to win. The main advantage is the ability to stake with a small amount and win huge sums.

A parlay consists of multiple individual bets that are combined. These bets consist of a point spread, total lines or moneylines. The only way to cash out your profit is to win all your bets. A typical example is when you have several teams playing a football game on the same day. You can select different events from each game and place a bet.

After you have chosen your teams and events, place your bet with any amount. The total accumulated odd will be multiplied by the amount you stake to get your expected profit. If you stake $100 and the total odds for all the games you selected is 10.5, then your expected winnings will be $1,050.

Let’s say you there is a match between Everton v Bolton, Chelsea v Hull City, Manchester City v Liverpool etc.

Everton V Bolton = home team to win
Chelsea v Hull City = both teams to draw
Manchester City v Liverpool = home team to score the first goal

A simple way to win sports betting parlays is: don’t choose too many events. Just select two or three and stake some reasonable money. The more events you select, the higher your chances of losing. Also, from our illustration, if any of the events selected doesn’t succeed, you will lose your bet. In other words, all the events must succeed to cash out your profit.

Progressive Parlays

This is completely different from the individual parlay/accumulator. With a progressive parlay, if some of the events succeed, the player or bettor will still earn some profits (similar to parlay insurance). For example, if you place a bet on 4 events, and two loses, you will still have something to smile about. However, the payout will be smaller compared to what you would have gotten if the entire event had succeeded.

Progressive Parlay Size

All Win

1 loss

2 losses

3 losses

4 Teams
All Win
+500
1 loss
+100
2 losses
3 losses
5 Teams
All Win
+1100
1 loss
+200
2 losses
3 losses
6 Teams
All Win
+2000
1 loss
+350
2 losses
3 losses
7 Teams
All Win
+4000
1 loss
+400
2 losses
+50
3 losses
8 Teams
All Win
+7500
1 loss
+1000
2 losses
+200
3 losses
9 Teams
All Win
+15000
1 loss
+2000
2 losses
+250
3 losses
10 Teams
All Win
+25000
1 loss
+2500
2 losses
+300
3 losses
+100
11 Teams
All Win
+40000
1 loss
+6000
2 losses
+500
3 losses
+100
12 Teams
All Win
+90000
1 loss
+8000
2 losses
+1000
3 losses
+300

From the table above, it is obvious that if the entire events succeed, the payout is very high. Meanwhile, just one loss could reduce your winning by 90 percent. For instance, if you select 10 teams with various events at a popular bookmaker or any other betting sites and if they succeed, you will receive $25,000. Then if you lose one event, your returns will reduce to $2500, 2 losses will be $300 and 3 losses will give you $100.

A progressive parlay is similar to a full cover bet. The major difference is the number of events that must succeed to get some returns.

Permutation Betting

This betting option is similar to multiple bets and accumulators. It is also called combination bets. It involves several selections but not all the selections need to successfully get some profit.

The risk in permutation betting is lower compared to parlay bet. You can win high payouts with very little stake. Even when you lose some part of your selection, you will still get some winnings.

The best way to illustrate the permutation bet is with two selections.

Teams

1

X

2

Manchester City-Liverpool
1
2.14
X
3.60
2
2.90
Bolton Wanderers- Hull City
1
2.0
X
4.5
2
3.60

Simply stake a single bet in favour of Manchester City with 2.14 odds to win Liverpool and bet $10. Then also stake a single bet in favour of Bolton with 2.0 odds to win Hull City and bet $10. Then lastly, place the same bet and combine/accumulate the selections and stake $10. So if the first event succeed you will receive $21.4 (2.14 x 10), and the second succeeds too, you will receive $20 (2.0 x 10). Lastly, if the two selections you combined win, you will get $41.4 (2.14 + 2.0 =4.14 x 10). It means that your total profit will be $82.8 (41.4+21.4+20).

Teaser bets

A teaser bet is similar to a parlay bet. These types of wagers imply that you have to select two or more events to succeed. Just like the parlay bet, all the events must succeed to cash out. The downside to this betting option is that the profit is very small. What attracts bettors to teaser bet is the fact that it appears easy to win.

The major difference between teaser and parlay is that the bettor can alter the points spread and over or under total between 4 and 10 points. This will depend on the sport. When you change the point spread, it makes the bet look very easy to win. They are three types of teaser bets:

1. Open teaser
This type of teaser is played online only. You can enter in open spots or later so far the game has not started. Here you can include more events to your betting slip.
2. Progressive teasers
You will receive consolation for losing your bet. To get more profit, you have to ensure that most of your selections succeed. The more your selections are correct, the higher your payout.
3. Multi chance teasers
It works like the progressive teaser but they are not the same. To win, your selections must meet the minimum required correct bets. For instance, if you select 5 events, the minimum required an amount of correct selections maybe three, if three of your selections succeed and the remaining two lose, you are a winner.

Reverse bet

A reverse bet comprises two “If” bets. An if bet consists of two or more selections. The difference between a parlay and a reverse bet is that with the latter all your selections have to succeed to win. Meanwhile, with a reverse bet, like with an up and down bet, you get some profits if one selection succeeds.

For example, a bet on team A and B to win their matches will succeed if one of your selection succeeds. Read here more about what is an action reverse bet and a win reverse bet.

Head to head betting

It is also called a two-way betting system udes in football betting strategies. Here your bet is on either team to win outright or lose. This is similar to straight betting.

For instance, if Manchester City and Liverpool are playing a match, you stake in favour of either team to win or draw. If you stake in favour of Liverpool to win, and they do, you will win the bet. However, if they lose, you will lose your stake.

Here is how to calculate your expected returns from a head to head bet:

Teams

1

X

2

Manchester City-Liverpool
1
2.14
X
3.60
2
2.90

If you stake $100 that Liverpool will win the match and they succeed, you will have to multiply your stake by the odd. That is 100 x 2.90= $290

Head to head betting is a simple bet and that is what makes it popular.

Round Robins

The Round Robin bet is related to Trixie bet. It consists of 7 different bets namely; 3 singles,3 doubles and 1 accumulator. This means that the bettor has to win one selection to get some profit. This type of sports wager is very popular in horse racing, NFL Football, and basketball.

For example, if you combine three parlays and one lose, you will still some returns if the remaining selection succeeds. If you like three teams A, B, and C, but you’re not sure if all the teams will win, simply use this sports betting option.

You can stake $5 in favour of each team and if team C loses, meanwhile A and B win you will get some part of your investment back. Assuming the three selections succeed, you will get huge returns.

What Bets To Place On Each Type Of Sport

Different sports betting performances provide different opportunities. Some markets are suitable for different sports and in-play betting applies to all of them. However, there are specific bets that have a better return on investment for each sport. When used properly, they act as major bankroll boosters.

Football

The best way to bet on football is on the winner of the match at regulation time. This is one of the sports betting basics, alongside the over and under 2.5 goals markets. The total number of corner kicks and yellow cards are an excellent way to use prop bets on best builder tickets.

Horse Racing

Picking the winner of the race is the obvious choice if you love adrenaline. A more conservative bet is the each-way where you are paid if the chosen horse places. Special sports betting formats allow you to bet on a horse to finish ahead of another contender. This is a fun and low-risk bet.

Tennis

An alternative to betting on the winner is to wager on the scoreline. For favorites, you can bet on a 2-0 score, while the underdog winning at least one set is another popular option. Some of the best bets for tennis fans revolve around players’ serves, such as aces and double faults.

Basketball

Moneyline betting is a less popular type of sports betting compared to spread wagering. These handicaps boost the odds when betting the favorites and pay if the underdogs cover the spreads. Half-time and full-time double bets are top-paying alternatives with a surprisingly high yield.

Why Different Bets Are Important

The different types of sports betting provide more flexibility to punters. Once you have the betting odds explained you realize that bookmakers have an unfair advantage over players. This can be mitigated by choosing those betting markets and odds where the benefits outweigh the risks. The use of different bets enables players to craft winning sports betting strategies such as arbitrage.

Modern bookmakers frequently allow players to combine events from the same match. This creates sports betting options with complementary wagers. You can use them to amplify the odds or to hedge against the risks. Bettors with an appetite for bigger winnings will fancy accumulators and betting systems. Risk-averse players will stick to single fixed odds betting pregame on live.

How to add betting flexibility to your selections

Apart from the various types of sports betting systems mentioned above, there are other ways to add some betting flexibility to your game.

Tip

1. A fourfold bet
This bet comprises of one bet that is made up of four selections in various events. Assuming the bets win as planned, you will also win and make some profit. However, if any of the selection loses, you will lose the bet. For instance, if your selections include team A, B, C, and D, all these teams must win to get your winnings.

2. Lucky 31 bet
This betting system consists of 31 selections. It is made up of five singles, ten doubles, five fourfold and a fivefold bets and accumulator. The minimum amount of correct selections to get a profit is 1 bet.

3. Patent bet
This is one of the different types of full cover bet. It is also called a Trixie bet. It is made up of 3 doubles, and 1 treble bet. To get some returns, at least two of your bets must win to get a return.

4. Lucky 15 bet
This is a selection of 15 games comprising of various selections including 6 doubles, a fourfold, and 4 singles. If four of the doubles succeed, you will receive a 10 percent bonus. All you need is one to succeed to get some returns.

5. Lucky 63 bet

This bet has a total of 63 different bets spread over six selections or six different events. It consists of: 6 single bets, 15 double bets, 20 treble bets, 15 four-fold accumulator bets, 6 five-fold accumulators and a single six-fold Acca. For a winning Lucky 63 bet only one selection needs to win, but more should win for you to pocket a profit.

Other types of odds in sports betting that add flexibility to your selection are Trixie, Yankee, Heinz, Goliath, Super Yankee, and Super Heinz. These types of sports betting wagers have been discussed here. Go to Full cover bets paragraph to see their various meanings.

Frequently asked questions about types of betting

If you are new to football betting, it is recommended that you try out a straight bet, handicap, and proposition betting. These options are easier and straight to the point.

A gambler’s betting strength is calculated through the bettor’s financial status according to betting experts. However, the best way to know how much to bet is to stake an amount you can afford to lose assuming your bet doesn't succeed.

No, it is not. However, adding other types of bets add flexibility to your bet. It increases your chances of winning.

Frankly, all the betting options have a certain degree of risk. However, it is safer to place a bet in favor stronger team to win the game outright.

Some of the football betting options are available in other sports. For instance, the straight bets, over/under bet, etc. are available in other sports.

The More Types of Sports Betting the Merrier

The universe of sports betting is a book and those who bet on the same markets read a single page. Broaden your horizons and consider different types of sports betting to offset the house edge. Use the best bets for every sport and maximize your winnings, while reducing the risks. Bet on a single event or and multiple selections on the same betting slip and create high-paying accumulators.