In this sports betting guide, we explain what are the main types of bets that can be made in online betting houses.
For people who want to start in the world of online sports betting, there are three fundamental things to handle: choosing the best bookmaker to start playing online, understanding how odds (or odds) work and knowing what types of bets Can be done.
Next, we leave you a list of the main types of bets that you will find in the market, regardless of the sport to which you decide to place money. The objective is that you have a clear and concise vision of the different markets to start betting online.
WHAT IS A SIMPLE OR SIMPLE BET (1X2)?
In a simple bet, you have 3 possible results, and it translates as follows: bet on the victory of the home team (1), bet on the tie (X) or bet on the victory of the visitor (2). This option is the simplest and most basic bet you can find on a betting site. In sports where there is no possibility of a tie (X), you can only bet on one of the two teams or players (1 or 2).
WHAT IS A COMBINED BET (OR PARLAY)?
In the case of parlays, the player makes several predictions on the same bet (ie 2 or more forecasts). The odds of each selection are multiplied with each other so the combined bets have more attractive odds than simple bets but you have to guess all your forecasts to be able to collect the winnings. Therefore, we advise you to make combined bets when you have very clear the result of your bet and thus achieve a better odds if you bet on the favorites of several matches. It is advisable to make a parlay, combining 2 to 5 bets maximum. In this way, you do not increase the level of risk too much, but you manage to bet on a higher quota than if you bet on the different events independently.
In addition to getting more interesting mummies, losparlays allow you to combine bets in different tournaments or sports and in different markets. In other words, you have more freedom when predicting meetings, not only is the typical bet on 1X2 markets. You can mix different markets in the same combined bet.
The parlays are very popular among bettors, so many bookmakers offer freebets or some bonus to place combined. For those who want to start trying this type of bet, without risking much, it is a good idea to look for a promotion.
HOW DO THE SYSTEM BETS WORK?
Like the combined ones, the player makes several forecasts but with the difference that to win, it is not mandatory to hit all the forecasts. For example, a 2/3 bet consists of three plays that you win if you only win 2. That is, if you bet on teams A, B and C, it is not necessary for A, B and C to win their respective matches. You win your bet in the event that AB, AC or BC win. It is as if you were betting on 3 combinations of 2 selections.
Depending on the number of forecasts included in the system bet, there are variants: system 2 of 3 (system bet with 3 forecasts), system 2 of 4 or system 3 of 4 (system bet with 4 forecasts), system 4 of 5 (system bet with 5 forecasts), etc. All system bets work under the same mechanism.
WHAT ARE LIVE BETS?
Live bets, also called live bets, are the ones you place while the game is being played, that is, in real time. It is one of the most fun and throbbing ways to bet. The great advantage is that you can follow the match live, anticipate the plays or the result and try to achieve better odds.
This type of bets offers players better opportunities because they allow hunting more attractive odds than those we found in pre-match (before the start of the event). Seeing live how the game is going on, the bettor can better analyze the match and anticipate actions. In addition, you will have at your disposal tools such as live statistics to make more accurate decisions.
Live betting is a bit more complex because there is more information to analyze but they are more exciting and allow you to achieve better results.
WHAT ARE CROSSED OR EXCHANGE BETS?
They are bets that are made between punters in an exchange house like Betfair. You will not find such bets in traditional bookmakers. This system allows betting on an event (back) or against (lay).
Let’s give an example: An UEFA Champions League game is played between Manchester City and FC Barcelona. The user “John” believes that he will win the City and therefore, bets against the Spanish team. Proposes a fee and indicates that you want to bet € 20. Another user – we will call him Raúl – believes he will win Barcelona and accepts John’s bet. In this case, the exchange house validates the bet.
For more information, you can read our Betfair Exchange review.WHAT ARE MUTUAL BETS?
In mutual bets, a pot is created with the bet by all players and the winners recover a percentage of the pot. The percentage will depend on the amount bet and may vary according to the rules established by the bookmaker.
The pools are a form of mutual bets. In horse bets, we also find these types of bets (tote bets).
WHAT ARE THE BETS WITH HANDICAP?
Handicap bets are those in which the weakest team or player is granted an advantage with the intention of matching the actions. For example, in a basketball game you can give a handicap of +5 to team X. This means that at the end of the match 5 points will be added to the result of team X and if it wins, bets are paid in favor.
There are two types of handicap bets: European handicap or Asian handicap. In this second case, the draw figure is not accepted. In our soccer strategies section, we explain in detail how Asian handicaps work.
WHAT IS A SUREBET?
Safe bets – or surebets – allow you to guarantee profits, regardless of the final outcome of the competition. The operation is simple: take advantage of the differences between odds of different bookmakers to bet on all the results of the same match (1X2) and thus get profits, whoever wins.
This betting strategy requires having accounts in several betting portals, a relatively important bankroll and knowing perfectly the rules of the different betting sites (especially the percentage of commissions of each house). It is not advisable for beginners.