Different Types of Bets
As you already know, there are multiple betting markets available for every kind of sporting event. However, for those of you who are new to this, it might be difficult to find all of these different bets under one write-up.
Therefore, in this article, we’ll take a dive into all of these different bets so that you can have an overall idea about them.
Also known as a ‘win bet’ in different parts of the world, a moneyline bet is one of the most commonly used bets by punters in India.
In this type of bet, punters have to bet on the team they think will win the game. Let us take a football game between Real Madrid and Barcelona for example. If you think that Real Madrid is going to win, you place a bet on Real Madrid and then wait for the outcome of the event to know if you have won or lost the bet. In case of a win, you will be able to cash out your wins.
Essentially, there are three outcomes in a moneyline bet – Team A, Team B and Draw.
Now let us see what the payout is like for moneyline bets. The moneylines are different in case the teams are not of equal calibre. If you are betting on the underdog team, the risk is more. This means the payout will be larger. However, if you are betting on a favourite, then there are more chances of winning the bet, however, the payout will be a lot less.
For example, if we are talking about a football game between Brazil and Portugal, the moneyline for Portugal will be higher as the risks involved surrounding placing this bet is also greater. Nonetheless, for teams that are of equal calibre, the moneyline will be the same. In case of a draw, it will depend on sportsbook to sportsbook to see what the payout will be like.
In addition, there are a couple of A+ sportsbooks that offer various promotional offers and bonuses when punters win a moneyline bet. So, always be on the lookout for such enticing offers when placing moneyline bets.
Advantages of Moneyline Bets
- Simple Rules
The rules in moneyline betting are quite straightforward, making it perfect for newcomers to make a win on their first try. Especially if we are talking about a bet between a favourite and an underdog team.
- Experienced Punters Can Make Huge Wins
In case there is an underdog and a favourite team, proficient punters can make huge profits from it. Since they have years of experience, they can risk betting on an underdog team to bag in large wins at one go.
Over Under Bets
Among all the other types of bets, the over under bet falls under the list of the most used bets in sportsbooks. It is also popularly known as a totals bet.
As simple as the moneyline bets, the over under bet is also used frequently by sports bettors in India.
In this kind of bet, a sports bettor has to place a bet either over or under the total score set by the bookmaker. An example could be a game of football where the sportsbook has set the over under bet as 8 for the total goals scored of both teams. You as a punter will be placing the bet either over or under this value.
One of the biggest perks of placing a total bet is that you do not have to side with either of the teams. In a way, you can also look at it as a disadvantage as you cannot root for your favourite team either. You sort of have to be neutral since the bet is placed on the sum of the scores.
The odds of an over under bet is a bit different from other types of bets. This is because generally, the odds are made for individual teams. However, for a totals bet, the odds are based on the total score of both teams.
Generally, the odds value for an over under bet is -115. Like the moneyline bets, punters may find various sportsbooks offering exciting bonuses and promotions on over under betting. Not to mention, over under bets allows you to make multiple bets to increase your chances of making the biggest profits in the history of gambling.
The over under bets are the types of bets that can be found for a bunch of different sporting events on an iGaming website. This means that punters will not have to sit through a repetitive process when placing this bet. You can choose a different event every time you make an over under bet.
Advantages of Over Under Bets:
- Perfect for Beginners
The rules are simple. You either wager over or under the value made by the bookmaker. Therefore, the over under bet or totals bet is perfect for beginners who are new to gambling.
The over under bets are extremely popular when compared to other types of bets. Due to its popularity, you can find this sort of betting on each and every online sportsbook in India.
Points Spread & Handicap Betting
The points spread and handicap betting are similar kinds of bets. Bookmakers always give the underdog team an advantage over the favourite team in an attempt to level the calibre of both teams.
Do note that this type of betting is only possible when there is a visible difference between the skill set of the two teams.
The reason why most Indian punters opt for handicap or points spread betting is that there is a guaranteed profit even if you bet on the losing team. If there wasn’t any handicap placed on the weaker team, then the game would be very predictable. So, to make gambling a lot more enjoyable, handicap bets give the underdog team an advantage over the favourite team!
For example, in a game of football between Manchester United and Real Madrid, Madrid is without a doubt, the favourite team. Therefore, to create a balance among the skill set of both teams, a handicap of 1.5 can be placed by the bookmaker to Manchester.
This will mean that before the game is about to begin, Manchester already has a head start of 1.5 goals. This means that in order to win, Manchester United would have to make 2 goals. Punters can use the handicap betting for sports like basketball, football, rugby, tennis and a couple of other racing events. So instead of using any other different bets on these games, you can simply opt for the handicap betting in order to make the most profits.
Different Bets & Types of Handicap Betting
The European handicap is similar to Asian handicaps but the possibilities here are less. There are three outcomes in total and you can have draws in this type of betting, unlike the Asian handicaps.
The Asian handicap is more prevalent in Asian countries like India. This is slightly more complicated due to the more possibilities. However, it is a lot more enjoyable than European Handicaps.
The first thing that you need to know about the Asian handicap is that there are no draws.
Advantages of Points Spread & Handicap Betting
- No Loss
The best perk of this type of betting is that you can make a profit no matter which team you bet on.
- Great Profits
Greater odds means bigger payouts. So if you are good with slightly complicated betting types like the handicap betting, then we suggest opting for it to make the most profits.
Outright Bet or Future Bet
Do not confuse between these two types of bets as they mean the same thing and are often interchanged.
In this type of bets, sports bettors do not place a bet on a team or a player. Instead, it is placed on an entire competition. For example, you could bet that India will be the winning team of the T20 World Cup before the event has even begun. If you were wondering why the outright bet is also well-known as the future bet, it is because you place the bet for future events or competitions.
A lot of people find the outright bets a lot more difficult than many other different bets because it can be hard to make an assumption about the outcome of a game before it begins. You never know how a certain player or a team may end up performing in a particular match. Not to mention, a lot of unforeseen factors could also have an effect on the outcome of the game. This is why outright or future bets are considered a lot riskier than any other types of bets.
Confused as to why punters still choose to place outright or future bets? It is because the enjoyment is not only limited to a single game. You get to indulge in the thrill of watching so many matches and wait for their scores to unfold in real time. This is overall, an exceptionally exhilarating experience due to the unpredictability of all the games. You never know, sometimes you may even end up watching more than 20 games to finally see the outcome unfold right in front of your eyes.
The odds in an outright or future bet is one of the best if compared to other types of bets. Since the risk involved are so great, bookmakers get innovative with this sort of betting markets and place some of the greatest odds in gambling. What this means is that if the number of teams participating in a certain event is a lot, then the payout is also going to be huge.
However, if the number of teams participating are not that great, then the payout will be less.
For example, if you have placed a bet on New England Patriots for the start of the season of Super Bowl and they end up winning, you can get a huge payout from the bet. However, if they lose, the loss incurred will also be quite a lot to recover from.
Advantages of Outright or Future Betting:
- Insane Profits
Since the risks associated with this type of betting is usually sky-high, the profits are also sky-high. So if you are an experienced punter who has been placing this sort of bet for a very long time, you will naturally have a greater advantage than the others.
In fact, you might even know which team can actually win in a particular season. If the outcome is in your favour, then you can cash out one of the biggest wins of your entire gambling experience online.
- Prolonged Entertainment Period
Generally, the thrill of placing a bet is over once the match is over. However, with an outright bet, you get to sit through an entire season worth of games to finally see the end result. This makes the outright bets a lot more unique than different bets that are as prevalent in the gambling scene in India.
Among all the other different bets that you will place in the events available in a sportsbook, the arbitrage bets will fall under one of the most complicated bets to ever exist.
The arbitrage betting is also known as arbing in the betting industry. If you know how stock markets work, then you can easily grasp the concept of arbitrage betting. This is because the difference between the prices in two bets under different markets is what makes this kind of bet a lot more profitable than the others.
Punters find this type of betting a lot more favourable than all other different bets available in a sportsbook. This is because there is a sure win that you can take advantage of as you place a bet on all the outcomes of the event.
An example of this kind of betting could be a football game between Brazil and Argentina. At first, you will have to create a betting account on two different iGaming websites. Then, you will have to place a bet on Argentine in one and conversely on Brazil in one. Therefore, no matter what the outcome of the event is, you end up making a profit from the bet easily.
In order to create the odds for arbitrage betting, sportsbooks generally have multiple teams set in place to do the required amount of research to set the right odds.
If punters in India want to make a handsome profit from a betting type like arbing, then they will have to use the following formula – (Total Budget x Individual Arbitrage Percentage)/ Total Arbitrage Percentage.
There are a number of sportsbooks that offer the best bonus offers and promotions for arbitrage betting. Some of these offers can help you win a whopping figure of 10,000 INR.
Advantages of Arbitrage Betting:
An absolute delight for punters, arbitrage betting is rather unique compared to different bets available in a betting market. You will not find this type of betting available in your regular gambling websites. Only a few top-notch iGaming platforms offer a betting that is as unique and uncommon as the arbitrage betting.
Experienced punters can benefit the most from this type of betting as there is a lot that needs to be contemplated before placing the bet. So if you have been betting for a really long time, we would definitely suggest you try out arbing as it is one of the most mentally stimulating bets out there for punters.
- Guaranteed Profits
Who doesn’t like to place on bets they know they can surely make a profit from? To answer the question, we ALL do! So why not take full advantage of arbitrage betting to bag in large profits before the season ends?
Accumulators Bet or Parlays
The accumulators bet are more suited to punters who are experienced in betting. This is because there are a number of wagers made while making an accumulators bet.
For example, in case you have placed an accumulators bet on horse racing, you have to win the bet on all the different races you have placed your bet on. This means that if you lose in one pick, you lose the entire bet.
Advantages of Accumulators Bets or Parlays
The risks involved in this bet is a lot greater when compared to moneyline or over under bets. Since there are different picks that you have to win, the bet is very risky. However, we know that the riskier the bet, the greater the payout!
- Enjoyable for Skilled Punters
If you are bored of placing 3 way bets, perhaps it is time for you to challenge yourself by placing an accumulators bet.
Frequently Asked Questions
These are some of the frequently asked questions for the different types of bets mentioned above:
In order to place a bet, the first step that you have to complete is looking for a suitable sportsbook. You cannot just choose any sportsbook you come across. There are certain factors you have to take into consideration before signing up on a sportsbook.
This is why you should always see the reviews of every sportsbook you want to be a part of to ensure that it provides all the facilities you are looking for from an iGaming platform.
The moneyline bets are definitely the easiest bets that you can place among all the other types of bets that are mentioned above.
1×2 betting is as simple and similar to moneyline bets. Sometimes also known as a 3-way bet, there are three different outcomes involved in this type of betting – draw, home win and away win.
The 1×2 betting has been in the gambling scene for the longest time. The easy rules make the 1×2 bet perfect for beginners as there are no complicated calculations involved.
Although the calculations involved are pretty complicated, here’s how you can place an arbitrage betting.
Firstly, you sign up on two different sportsbooks. Then you place a bet on both of the teams on either of the sportsbooks. No matter which team wins or lose, you make a profit out of the arbitrage bets you have placed.
Most sportsbooks have a dedicated team of professionals in place who will be more than willing to help you sort out your problems. All you have to do is locate the live chat option, which is generally available on the home page, or call or write an email to them and they will get back to you in no time.
If you want to get a taste of what gambling is really like in competitive iGaming platforms, then you must try out all the different bets mentioned above.
There is a different kind of thrill involved in all the different types of bets that have been mentioned above. However, it is important to note that no matter how much fun you have gambling online, you should never give in to your excessive gambling impulses.