Sports Betting Markets: Most Common Bet Types Explained

Asian Handicap Betting

The Asian handicap betting markets are aimed at making the chances of either team winning or losing as close as possible to 50%. The handicap is set based on the known information on the two teams. A handicap of 0 means that both teams are equally as likely to win the match. For instance, if the away team is given a handicap of -1.0, and the home team is given a handicap of +1.0, the away team will have to win the game with at least 2 goals difference in order the wager to win.

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Over / Under Betting

The Over/Under betting markets involve the setting of wagers on the number of goals that will be scored in the game. You do not need to guess the exact number of times the goals will be scored. Instead, you will guess whether it will be under or over a certain number. In sports betting, the most common line set for over/under betting is 2.5. If you think a team will score 2 or fewer goals, you will set your bet as ‘Under 2.5′. If you think they will score three or more goals, your bet will be ‘Over 2.5’. You can find over/under betting markets also available for number of corner kicks, yellow cards and many more.

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Fixed Odds Sports Betting

Fixed odds sports betting is common in online sportsbooks. A fixed odd sports bet is one which has fixed returns or losses. For example, if you wager £200 on a team whose odds of winning are set at 3.0, your expected return is £600. This type of bet is also referred to as match bet, and it is used as opposed to spread betting. Unlike fixed odds sports betting, this form of betting has a range of possible returns. In spread betting, you would get an extra money reward for every occurrence of an event above a certain threshold.

In-Play / Live Betting

Live betting is one of the most popular sports betting markets. It involves the placing of wagers after the game kicks off. This option takes away the need to find and study the statistics of the various teams. The market odds will change as the game goes on since they have to reflect the prevailing statistics of the matches. The changes in the odds will be affected by goals, ball possession, and even yellow cards. Whenever something significant happens in the games, the live betting feature may be paused momentarily so that the computer algorithm can calculate the new betting market odds.

Sure Bets

Sure betting is a strategy which ensures that you always make a profit from the sports matches. Players take advantage of the variations in the odds in different sportsbooks in the same betting markets to come up with these bets. An example of a sure bet is a situation where the odds of two tennis players are both high. For example, the odds of Player A winning can be 2.15 and those of Player B can be 1.95. If you stake £47.56 on Player A, and £1.95 on Player B, you will be guaranteed a small profit from the match.

Accumulator Bets

Accumulator or multiples bet is a wager that combines four or more selections. The overall odds will be calculated by the computer algorithm. You can only win an accumulator bet if all the selections win. The accumulator bets can consist of selections from various betting markets. That being said, some bookmakers now offer an ACCA insurance which offers you a cashback when one selection leads to the loss of your accumulator bet. Multiple bets with 2 selections are referred to as doubles, and those with three selections are referred to as trebles. ACCA bets do not usually cover doubles or trebles. Accumulator bets are usually used by new customers to get the most of their free bets bonuses.

System Bets

System bets include both accumulator and single bets. Unlike regular accumulator bets, you will not lose all your money when one bet fails. A system bet has to include a minimum of three and a maximum of 14 (depending on the bookmaker) picks from various betting markets and events. Betting sites that feature system bets usually have an icon alongside the bet slip which is labelled ‘System’. After making your selections, you can click this icon to view the available system bets. Details on the different system bets available are also usually provided. The total stake of your system bet is calculated based on the number of possible combinations.

Half Time/Full Time Bets

This betting market works nearly the same as the correct score but divided into two halves. The bettor has to predict the scoreline during half time and at the end of the game. Chances of getting the win are slim, meaning the odds value in these betting markets is high.

Correct Score Bet

Correct score bets allow you to make wagers on the final score of the game. These betting markets have very high odds, but they can be difficult to get right. An example of a correct score bet would be 1:1. This means both teams will score exactly one goal each by the end of the game. It is possible to make a correct score prediction of the outcome at the end of the first half. These bets also have high odds. You should study the participating teams thoroughly before making a wager on the correct scores of a match.

Double Chance Bets

Set on the either-or premise, these betting markets give the bettor an added opportunity to select 2 probabilities. In most cases, they rely on the 1X2 market, which is either 2 of the 3 options that will happen. Since the probability is higher, the odds value is usually low.

Draw No Bet

Draw no bet is a common term in the sports betting world. It refers to a situation where a person wants to bet on one team, but they don’t want to be affected by a draw. In case the match ends in a draw, the player will get their money back. You can only lose such a wager if your team is beat by the opposing one. A draw no bet wager allows you to reduce your chances of losing a bet. The odds will be adjusted to reflect the reduced risk of losing the wager.

Conclusion

This guide should help you learn how to bet on football or any other sports markets. You should carefully analyse these betting markets before you place a sports bet. It is advisable to go for a bet with reasonable risks and high returns. If you are more interested in a consistent but slow return, you can consider using the sure bet option. At the end of the day, it is up to you to decide how you will bet on these sporting events. Remember to always gamble responsibly.

FAQs

What is a Betting Exchange and How Does it Work?

Betting exchange help bettors trade match outcomes against each other. The exchange is the media which the bettors use as an arbitrator. Compared to normal bookmaking where the sportsbook takes the stake if the prediction does not turn out as expected, the betting exchange has 2 people on either end.

Bettors go to the site and deposit their stake. Upon agreement, they bet on a game with either bettor on the opposing end. If the outcome goes either way, the person who had correctly predicted the outcome receives the money. The exchange only earns a certain commission from the winning as the processing fee.

What makes the whole exercise interesting is the fact that the exchange does not set any odds. The bettors are the ones who set the odds value, wager on it and the winner takes home their winnings. Betting exchange can accommodate any form of game or event, as long as the probability is agreed upon by the bettors.

Which is the best betting exchange?

The choice of the best betting exchange is reserved for the bettors, owing to their needs. However, the exchange commission and the ease of betting quantifies the bookmaker as the best. Of all the betting exchange sites, Matchbook, Betdaq, Betfair, and Smarkets are the leading. Betfair has a significant market share, while Smarkets and Matchbook have the most competitive exchange commission. Betdaq has significant market coverage.

What is Political betting?

Just like football betting, political betting sets all the candidates against each other. The model is similar to the Tournament Winner bet at the beginning of the tournament. Odds value emanate from the candidates’ popularity in the opinion polls. At the beginning of every bet, each candidate has the same probability to win. With time, as the opinion polls take shape, the odds value reacts to their popularity. The most likely candidate to win has the lowest odds value and vice versa.

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