Sports betting is massively popular across the world. You have access to dozens of different sports, with countless markets available for each of these options. You can place bets on obscure games and events, all of the way up to the biggest events of the year like the Super Bowl. It is a great way to enhance your interest in a given game of competition when you are watching it. You can also use your in-depth knowledge of a given sports to potentially make nice levels of profit.
In this day and age, there are a staggering amount of different types of bets you can place. In addition to the traditional betting types like outright winner and handicap betting, you can place bets on individual players to score a touchdown or have a certain amount of catches. You can bet on both teams to score and you can combine all sorts of different events together into one single bet. This guide walks you through some of the most popular betting types on the market today.
The 10 Most Famous Betting Types
While there are dozens of different betting types available to you depending on the given event, some are more popular than others. Here are 10 of the most popular betting types in this day and age
1. Each Way Bet: Cover your bases by betting on your selection to place as well as win
There are two parts to an each way bet. There is a Win bet and a Place bet. These bets are of an equal amount and are for the same selection. This type of bet was first made popular in horse racing. The win portion of the bet naturally is based on the horse winning race.
The Place portion of the bet is successful if the horse finishes inside the place positions. The number of place finishes offered depends on the race, with usually 4 or 5 places being paid out by the operator. When placing a $10 each way bet, your stake will be $20 in total. It is a $10 bet on the horse winning and a $10 bet on the horse placing. Most sports allow each way betting in certain markets. For example, if you are betting on who will score the most touchdowns in the NFL season, you can place an each way bet and you will still get a return if the player is in the top three of the rankings come the year end.
2. Accumulator Bet: Win big with small stakes
The accumulator bet sees you combine five or more selections into a single bet. For this bet to be successful, you need every selection to win. While the odds are lower than most types of bets, the rewards are potentially massive. There are constantly stories about players winnings hundreds of thousands of dollars from an accumulator when their initial stake was only a few dollars. The types of events you can have as part of the accumulator depends on the specific operator. Certain operators for example might not allow you to mix selections together from different sports.
3. Goalscorer Bet: Bet on specific players to score
The goalscorer bet can come in a few different forms. Effectively, you are going to be betting on a certain player scoring in a given game. There is a First Goalscorer market whereby you are betting on a given player to score the first goal in the game. You also have an anytime and Last Goalscorer market, which are self-explanatory. Usually, you will get good odds for first goalscorer bets, with anytime goalscorer odds being more conservative.
4. Handicap Betting: Get better odds when betting on strong favorites
Handicap betting is a popular bet type in most sports. It gives one of the sides a handicap that they need to beat in order for you to win your bet. This is usually a popular bet option when there is a strong favorite in a given game. Therefore, for a football game if the clear favorite that has short odds can be given a handicap of a goal or two and then you can have a bet at longer odds. There are different types of handicap betting including split handicap, single handicap, level handicap and Asian handicap.
5. Spread Betting: Make more when your selection wins by more
Spread betting in sports will see a bettor place a bet on whether a certain outcome in a sports game will be greater or fewer than the outlined spread. The amount of profit or loss that you make depends on the extent of the result. For example, if you are betting on an NFL game and your team beats the spread, you will make a profit that is determined by how many points they win by. The more points they win by, the more profit you make. The opposite is also the case if the bet goes against you. Therefore, you are liable to lose more money than you initially staked with sports spread betting. This is a game type that can be dangerous for players if they are not careful.
6. Live Bet: Place bets in the middle of the live sporting event
Live betting is becoming more popular as the years go by. The advent of smartphones made this possible, as people can place bets instantly from their mobile devices no matter where they may be. People can react to what is happening in a game and place a bet accordingly. For example, they may place a bet on a given team to score the next touchdown. This is a great way to make a game more exciting when you are watching it.
7. Lay Betting: Bet against an outcome from happening
Lay Betting is a form of betting where you bet against something happening. For example, if you don’t think that the New England Patriots are going to win their game, you will make a lay bet against them. You are betting on them either losing or drawing. Most regular sportsbooks don’t offer this lay option, but it is popular on sports betting exchanges.
8. Double Chance Bet: Eliminate the potential of a draw ruining your bet
This type of bet gives you the ability to make sure you cover two of the three outcomes in a given game. You can bet on a team to win the game or to draw the game. The double chance bet is effectively the opposite of a lay bet.
9. Draw No Bet: Provides insurance in the case of a draw
The draw no bet will see your stake being refunded if the event you are betting on ends in a draw. You will be backing one of the participants in the fixture to win the game. You will therefore only lose money with this type of bet if the opposition wins the game.
10. Yankee Bet: Combine numerous multiple bets into one
A yankee bet is made up of four selections and comes together to make 11 separate bets. This includes 6 double bets, 4 trebles, as well as a single fourfold accumulator. A $1 Yankee is going to cost you $11. This is a popular way to combine numerous selections into one with having some form of insurance in case one or two of these selections are not successful.
Top 5 Sports Betting Sites
There are countless sportsbooks on the market today. Therefore, it can sometimes be a difficult task trying to narrow down those operators which suit your specific needs the best. Thankfully, we’ve done the hard work for you and reviewed each popular sportsbook and given them appropriate ratings. Here are the current rankings for the top 5 sports betting sites:
||$500 100% Risk-Free First Bet||T&Cs Apply Play Now BetMGM Sportsbook Review|
||$600 100% Risk-Free Bet||T&Cs Apply Play Now Unibet Review|
||$100 100% Bet Credits||T&Cs Apply Play Now Borgata Sportsbook Review|
||$1000 100% Risk-Free Bet||T&Cs Apply Play Now PointsBet Sportsbook Review|
||$250 100% Dep. Match||T&Cs Apply Play Now Sugarhouse Sports Review|
Betting Types FAQs