5 Types of Bets and What You Should Know
A bet is a contract between two or more parties that obligates one party to pay the other party a pre-determined amount of money. When you place a bet, you place a wager on the outcome of an event.
Whether you just bet for fun or do it for a living, you should always know the types of bets you are placing and what to expect from those bets. Here are the most commonly played types of bets in this industry:
Parlays and Accumulators
Parlays and Accumulators are the most common types of bets in online gambling. Parlays are multiple bets on the same event, with each bet amounting to the same odds. Say you have $100 to wager on an event.
You could place a $25 parlay wager with two other bets at $50 each and one at $25. The total would be $100, and your odds would be 1/1.
Accumulators are bets that allow you to place multiple wagers on the same event. They come in different varieties, the most common being The Combination and The Over/Under.
The combination consists of two or more single bets, such as four numbers or three numbers, combined on bet. For example:
- Four numbers: 1-3-6-7
- Three numbers: 1-2-3
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Teasers and Pleasers
This game combines the two most significant aspects of casino games: chance and skill. You’ll need to make decisions quickly and confidently in teasers and pleasers.
You’ll also need to know what kinds of bets are available and how they work. This includes how much money you can bet per hand, which cards you can use for a particular game, whether or not specific cards can be used in certain situations, and so on.
Totals Betting (Over/Under)
Total bets are pretty easy to understand: You bet on whether or not a team will score more points than its opponent. For example, you would win if you bet on an NBA game where the over/under is 175 points, and your team scores 180.
Although total bets are simple to understand, they can be tricky to execute. You’ll want to ensure that your totals are accurate before placing a wager and follow them closely throughout the game.
In Underbets, You have to predict the combined score of both teams correctly to get a payout. The payout depends on the number of bets you place. The more bets you make, the higher your payout will be.
You must know how to bet on over/under bets when betting on NFL games. These bets allow you to make a wager on whether or not a particular team will score more points than the total number of points spread out over the two halves of the game.
pread and Handicap Betting
Point Spread and Handicap Betting
A point spread is an amount by which a team is favored over another. A point spread is usually determined by adjusting the final score or the number of points scored by both teams to level out and eliminate any advantage one team may have over the other.
A point spread is also called an over/under bet. In this case, you’ll be betting on whether more points will be scored than the number listed on your sportsbook’s line chart (over/under).
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Handicap to even out the playing field between two teams who are not evenly matched (e.g., a team that plays in a lower league). The handicapper uses the odds on offer by the bookmakers to determine which team should be assigned the points based on their performance throughout the seasons.
When handicapping a game, most people look at how many runs a team has scored per inning. The higher the number of runs scored per inning, the more likely it is that a team will score more runs in that inning than another team.
Win Bets and Moneyline Bets
Win bets are the most popular types of bets in sports betting. Win bets are bets you win if the team you bet on wins. You can also place multiple win bets and combine them into a single payout if you have enough money.
When you make a Moneyline bet, you’re saying that if your team is an underdog, they have to win by X amount of points or more than their opponent for you to win.
If you’re new to betting, it’s essential to understand how all these different types work and what they mean in terms of the amount of money you’ll win or lose based on the outcome of your wager.
Point Spread and Handicap Betting