Over the last few years, sports betting has grown in popularity. What started out as merely a hobby by ancient Greeks in the early 1800s has progressed to become a billion-dollar sector. With so many ongoing sporting activities at the moment, top online bookies offer bettors a huge variety of events to gamble on in football, soccer, basketball and less-popular sports like darts, motor racing and table tennis. In order to attract new customers betting sites offer bonus programmes – utilising some of them, like, for instance, the bonus code for Betbonanza, a customer will be able to almost make his betting risk-free.
So if you’re yet to place your first sports bet or you’re confused about how to start, this article will serve as a miniguide for you. Below we’ll tell you about the main bet types, betting odds and provide the vital betting tips.
6 Types of Sports Bets
Although sports betting is a popular gambling activity, some bettors are driven by the passion for the game and fun, and not money. These players enjoy the extensive collection of sports they can bet on, ranging from team sports such as football, basketball, and FPL to individual contests like tennis and boxing. As a newcomer to the world of sports betting, one of the first things to understand is the types of sports bet available. They include:
Single Bets
Just as the name implies, single bets are wagers made on just one outcome. For example, if you are betting on a football match, you are betting on just one team to win. Single bets are the most common type used and are perfect for beginners who intend to make slow but steady progress in sports betting activities.
Over/Under Bets
Also known as a total bet, over/under bets is a popular wager often placed on the total score of the two competing teams. Unlike single bets where wagers are made on a single outcome, total bets allow bettors to place bets on whether the aggregate score will be over or under a total score established by the sportsbook. Over/Under bets are also available for halftime and period scoring.
Handicap Bets
Also known as the “spread,” this strategy entails providing a predetermined advantage over the other at the outset of a competition. Basically, the bookmaker chooses the team they believe is more likely to win the game. After that is determined, a point spread is set based on how many points the betting public thinks that side will win by. You must next determine if you believe the sportsbook’s prediction is overstated or understated.
Outright Bets
In outright bets, also known as future bets, you wager on the outcome of a forthcoming event or a season-long contest like the English Premier League, British Open, or NBA. Early betting enhances your odds, but it also increases your risk. In certain sports such as tennis, bettors can wager “each way” outrights, which pay out even if the player they backed doesn’t make it to the final, though the winnings will be reduced. In Europe, outrights are typically stated as a fraction, such as 100/1. The first number represents the amount that can be won for every dollar staked. However, using an odds calculator, you can easily convert the odds to the American system.
Accumulator Bets
Accumulator bets involve placing diverse bets or selections that are combined into a single wager. For you to claim any payouts, all selections must win. The odds are calculated using a progressive approach since the total odds grow with each additional selection. The investment in an accumulator bet is smaller because of the higher odds.
Prop Bets and Specials
A prop bet is an alternative to the traditional single bets in the world of sports betting. Whether you recognise them as prop bets, specials, or something else, wagers of this type can be placed on virtually anything. For instance, you can bet on which team or player will score first in a football match. There are many other prop bets, such as who will get the first run or the time of the first goal in a soccer match.
Popular Types of Betting Odds
Understanding the odds is crucial before placing any bets, as they show the probability of the outcome and also determine the size of your winnings in case your prediction is correct. To gamble effectively, you must understand the odd formats. The three most common types of odds include:
1. Fractional Odds (1/2)
2. Decimal Odds (1.50)
3. American Odds (-200)
These are just different ways to show the same odds, and the format doesn’t change how much you win or lose. The odds of a sports event can be converted and presented in any of the three odd formats.
Sports Betting Tips
If you are betting on sports for fun, here are some important tips that will make your betting experience memorable:
⦁ First things first, always have a budget. Having funds set aside for your betting session helps you to bet with only what you are prepared to lose. This will help you avoid unplanned financial losses.
⦁ Don’t stake too much on any match just because other gamblers have done so. Wagering on a specific outcome just because others are doing so is very wrong and can lead to losses in the long run.
⦁ Wager on sports that you enjoy watching. You have better chances of making a correct prediction in a sport you understand than when you bet on a sport you are totally new in.
⦁ Try betting on live sports events. When you are comfortably watching a football match, you are likely to see which team is the underdog and place a bet on the dominating team.
⦁ Analyse different sportsbooks. Having an account with multiple bookmakers helps you land the best odds in the market for a single event. Always compare different sportsbooks before placing your bets. Check out some of the top betting sites at Match.Center.
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