February 9, 2023

Guide To Different Betting Markets: Explaining The Top Bet Types

There are quite a number of betting types and markets available for online sports bettors. Sometimes, it is quite hectic to select the correct or most suitable one(s), especially if you are a newbie who is just making a foray into the world of sports betting. 

 

Before you make any wager on an individual or a particular team, you must check the bet schedule and understand the most common betting markets to increase your winning chances. That is why we have a list of the most popular betting markets and how they work for you. Let’s delve right in.

 

Point Spread Bet

 

A Point Spread Bet is an exciting way to bet on your favorite player(s) or team(s). It allows you to predict whether a certain team will win or lose within a certain margin of points. The perceived stronger team or player will be the favorite by a certain number of points, depending on the gap in ability between the teams and players. 

 

The minus(-) points indicate that the team is the favorite. The plus(+) spread shows that the team is the underdog. The primary purpose is to assess the relative strength of teams/athletes against each other. 

 

Money Line Bet

 

The money line bet is arguably the easiest and most popular kind of betting. The reason is obvious. All bettors have to do is pick a winning side, team, or specifically a draw in a soccer/European football match or boxing/MMA fight to win. 

 

When you make a moneyline wager, you are betting on who will win a competition or game. It doesn’t matter how many points, how they win, goals, or how long it takes them to win. All that matters to win a moneyline bet is that the team or person you bet on ends up victorious.

 

Money Line Bet is a great opportunity for beginner sports bettors to be introduced and eased into the world of betting. It is also a betting type for professional sports bettors who would like to seamlessly rake in huge wins.

 

Parlay Bets

 

A parlay bet is a combination of multiple wagers into one single bet and is also known as an accumulator. Each wager, or leg, must come through for you to win a parlay.

 

Parlays are for high-risk gamblers who want to go all out because their interest lies in winning a lump sum at once. They are riskier than betting on each game individually, but you also get better odds. 

 

You must win every bet to win the parlay bet. If you lose any of the bets, then the entire parlay is lost. Certain sportsbooks will give you bigger and better payouts by adding more games to your parlay. If you win, you may win big. Parlay bets are not for everyone, especially if your goal is to make money in the long term.

 

Futures Bets

 

Future Best, like the name suggests, is a bet placed on a sports event (i.e., a tournament or season) that will take place in the future, as opposed to a specific upcoming or currently ongoing game. Futures usually deal with season-ending events, for example, if a certain team will win the championship or who will win a specific division. 

 

For instance, betting the week before the NBA season starts that the Milwaukee Bucks will win the NBA Finals. You can also bet on player futures before a season. such as which player will win MVP or Rookie of the Year.

 

Prop Bets

 

Proposition bets, always shortened as prop bets, is a wager placed on a particular event happening during the game. It might be a prop bet on a player scoring a certain number of points on the gridiron in an NBA match or being the first to score a touchdown in an NFL game.

 

Props bet is quite similar to future bets, but they have distinctive features. Instead of wagering on the future of a team, the wager is made on an individual player or event. 

 

Over/Under Totals

 

An over/under betting, also referred to as total bets or O-U, is a wager on the total number of points scored in a game. With this type of bet, you are not trying to predict the actual score of a match. Instead, you are predicting that there will be more or fewer points scored than the oddsmakers are predicting. 

 

Simply put, you are betting on whether the outcome of the points scored at the end of the event will be OVER OR UNDER.

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