sports betting odds

Different Types of Sports Wagers Bettors Should Learn

Sports betting allows people to make money, add excitement to their habit of watching sporting matches, and have a friendly competition with their families and friends. As people can be profitable in sports betting, many are encouraged to start their sports betting journey.

However, before placing wagers on sports betting events, beginner bettors must learn the activity’s basics and technicalities. By following the guide to sports betting, punters will understand that there are many factors to consider before officially starting their sports betting career, including which strategies and techniques to use when placing bets and picking the best betting market to place wagers on.

Different Types of Sports Wagers Bettors Should Learn

Straight Bets

A Straight bet, also called “Singles” or “Side” bet, is among the most basic types of wagers. It involves placing a bet on a sporting match’s specific outcome, such as which team or player will become the winner in a game or competition.

Many punters use this type of sports bet because it is simple and straightforward, giving them a reasonable chance of winning. However, some bettors, particularly those looking for fun and thrill, avoid straight bets because of their simplicity.

Besides finding straight bets boring, other bettors have difficulty maintaining their interest in this type of wager because of the relatively low payout. Thus, they resort to choosing other betting markets that have higher payouts.

Money Line Bets 

Money line bet, also known as “Win” bet, is another simple type of wager that bettors can place and is among the most popular wagers as it is easy to understand. Bettors only have to select a player or team to win a game, match, or other events without any point spread.

However, understanding the payout process can be complicated and confusing. Generally, sportsbooks list the favorite team or player with a minus (-) sign. The favorite is usually the team that is expected to win. Meanwhile, the underdog team/player is listed with a plus (+) sign. The underdog is expected to lose.

On the money line, these signs play a significant role in the payout process; thus, they entail how either side of the wager will pay. The numerical value with the minus (-) sign will represent what punters have to pay to win. And if the favorite wins, bettors who placed their wagers on it will earn less than their original bet. On the other hand, the odd with the plus (+) sign will make more than their initial wager. 

For example: Carolina Panthers (-150) vs. Oakland Raiders (+130)

If punters decide to place their wager on Panthers, they need to bet $150 to win $100 in profit. Subsequently, if punters choose Raiders, the underdog, they only have to wager $100 and have a $130 profit if they win. 

Total Line Bets

Total line is another popular bet placed in many sports by punters. This type of sports bet is also called “over/under” bet, as bookmakers issue a specified total for the combined final score of both teams or players in a match or competition, and bettors will place wagers on the actual score staying “under” or going “over” the set number.

Various sportsbooks also have betting lines that let punters place over/under wagers on points or goals in the first halves and quarters of games or matches. Therefore, giving bettors more betting markets to choose from. 

Proposition Bets

Proposition bets, also known as prop bets or specials, are bets that punters can place on events that occur within a match, series, or season, often based on the team or individual players’ performance or a wide range of statistics.

This type of betting has become one of the fastest-growing segments in the sports betting industry. It offers colossal flexibility that bettors can take advantage of, primarily if they aim to make money.

Handicap Bets

Handicap bets are betting markets that offer punters an alternative way to bet on specific sporting events, particularly those matches or competitions where one team or player is more superior or favored than the other. In this type of betting, bookmakers “handicap” the favorite team or player and allow the underdog team to have a “head start” to create a “level playing field.”

Various bookmakers offer this betting market on different sports, including rugby, tennis, and golf. In rugby, bookies often give one team a point advantage during the start of the match; in tennis, handicaps are applied to sets and games; and in golf, bettors are allowed to place handicaps on players’ rounds.

Parlay Bets

A parlay bet is among the most popular sports wagers for punters who seek thrill and higher payouts. In parlay betting, bettors can place two or more wagers of money lines, point spreads, total, or even prop bets on different games into one ticket.

Although this type of bet offers larger payouts than making a single bet on each sports betting type individually, parlay bets are very risky. To win in this betting market, bettors need to win the entire parlay. Consequently, if one bet in the parlay loses, the whole parlay bet loses.

Teaser Bet

Teaser bet is a type of parlay and involves making multiple selections as part of a single wager. A bettor can place a series of straight bets or totals into one bet in this betting type. And to win the teaser, all the component wagers in the series have to win.

Accordingly, a teaser bet differs from a parlay in terms of the betting types included in a teaser bet ticket. In the teaser, there are no money line bets allowed.

If Bets

An if bet is a type of wager that is quite similar to parlay and teaser bets. It allows bettors to bet on multiple games at once. However, if bets differ from parlays and teasers as each bet is placed in a linear, chronological order, and each selection relies on the previous bet. Therefore, for the second leg of the bet to be in play, the first leg needs to win; accordingly, the second selection has to win for the third leg to be in play, and so on.

Another difference of if bets is that bettors do not need to win every single bet selection to be a winner. Winning the first wager will already guarantee punters to get some money back.

Conclusion 

Bookmakers offer multiple betting markets for a single sporting event to provide bettors more choices. Selecting the right betting market will be beneficial for bettors aiming to experience the thrill by betting on sports and those who are trying their chance to achieve a big win.

Choosing the betting market to wager is only the start of a punter’s sports betting journey. Bettors also need to select a fully licensed and regulated betting site that will ensure the safety of their details and money.  

88Probet is the most trusted and reliable Online Sportsbook in Singapore. Their priority is to provide players with an entertainment site that follows the international gaming standards, making them the ultimate destination for everyone who wants a complete sports experience. Start betting today or play other games on online casinos at www.88probet.com.

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