In the following presentation, we unfold how betting works and how you can choose a betting option. We also understand the various types of sports gambling and what they are and how they work.
1) Moneyline wager: this is perhaps the most common bet type that involves guessing who will score in a match (and win). There are plus minus to be noted and understood here to show how much you can win. The risk here involves the amount of money you should invest to choose the winner. They are common in baseball and hockey.
2) Handicap bets: they are the bedrock of sportsbooks and are a little complicated. Just like the money lines, these are expressed in plus/minus formats. The numbers in this representation do not speak about the money instead they signify how many points the favoured team will win.
3) Over-Under/ Totals bets: The two mean the same. The two terms can be used interchangeably. Here the bookmaker chooses a line for the goals or runs as the case may be. And the punter must bet over or under this line. Hence the name Over-Under. And the odds for both over and under will be the same.
4) Future and outright bets: This involves betting on a fixture (a future match). And since the match is slated for the future the risk factor is much higher and hence the payout is more. For this, you have to study the present and past performances of the teams that you are interested in. And mind you the terms future and outright are the same and can be used interchangeably.
5) Prop Bets: The Prop Bets are the ones that need no domain knowledge at all and do not rely on the game’s outcome. For instance, there can be prop bets on who might win a toss (will it be heads or tails), if the winning car number is greater than or less than five, etc. It is especially suitable for a novice (who does not have the required knowledge) to experiment in best sports betting site in India.
6) Parlays: These are nothing but a sum of all the possible bet types like money line bets, over/under bets, and spread bets. The more bets one places in the parlay bet more he wins. And if one bet is lost the whole money is lost. They are a combination of two to a dozen bets usually and the payout potential increases with each chance. Practically they are not feasible even for professionals in most cases.
7) Teaser bets: These are Parlay bets where the lines are slightly shifted in the bettor’s favour. This is done to mitigate the risk and increase the payout. They are mostly offered in basketball and football. Depending on the sportsbook the bettor can place 6 to 7 points for football and 4 to 7 points for Cricket Betting.
8) Reverse bets and If bets: These are quite complicated and hence they are not found and used often. Here the bettor must make many selections. For example, for if bets, one has to choose many bets joined by a standard factor. And the subsequent bets are called off if the initial betting is incorrect. And this means that you have less risk with if stakes. And for reverse bets, you have to combine 2 chances into 1. In your first part of the wager, you place an if bet (on your first), then your consequent option. And for your other option after the 1st, there will be a 2nd if bet.
Final thoughts: Above there are different types of bets one can choose and much depends on your knowledge of the sport or game. Go for player-based sports if you are good at predicting the individual player performance rather than the team performance. And you can choose between money line and spread bets if you are good at judging the team’s performance. And if you are adept at predicting the pace of the game then go for money lines bets and spreads.
Hello, My name is Shari & I am a writer for the ‘Outlook AppIns’ blog. I’m a CSIT graduate & I’ve been working in the IT industry for 3 years.