Types Of Sports Betting

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Win Bet/Moneyline Wager. Sports betting doesn’t come any simpler than the win bet, or moneyline. Sports betting types are carefully explained in this guide, including understanding the spread, moneyline, totals betting, buying points, parlay bets, round robins, teasers, pleasers and several more. The most common type of sports bettor out there is the Mr. Recreational type. For this type of sports bettor, sports betting is simply a thing of recreation. Unlike the vast majority of the other types of sports bettors, Mr. Recreational types don’t take things too seriously. For them, sports betting is a form of occasional entertainment.

Understanding all types of odds at betting sites is crucial if you want to earn some profit at sportsbooks. Depending on a betting site, you can meet three types of odds – American, Decimal, and Fractional. To learn about the peculiarities of each type, here you have all sports betting odds explained.

Sports betting is extremely popular across the globe. As it has invaded all the countries, numerous international and local-oriented sportsbook sites emerged. Depending on the sportsbook and their own location, punters can meet three types of odds: American, Fractional, Decimal. Understanding the difference between them is important as you have to know whether you are wagering on a likely-to-happen event or not. Thanks to online betting guides for beginners, now you have everything about sports betting odds explained.

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All sports betting odds explained

So, there are three popular types of betting odds – American, Fractional, and Decimal. Predictably, American odds are mostly used at US-based online sportsbooks. Fractional odds are frequently met at British and Irish betting sites. Decimal odds are popular in European countries, Canada, Australia, and New Zealand.

Regardless of the area covered by your favorite sportsbook, it is important to know the difference between all types of odds. The ability to read odds is helpful when you want to wager on events that are covered by international sportsbooks. So, here you have all sports betting odds explained one by one.

Types

The in game bets is among the various types that we will be able to get to learn more. You can ensure that you read more here and get to know what this types of betting comprises. In this type of betting, people are able to place them as the game is going on. It will be possible for people to ensure that they have engaged in it with a lot of ease. Below are the various types of sports betting strategies; Straight Bets This is the most common type of sports betting option. It is straightforward and without complexity. Even new gamblers are quite familiar with this option. Studies have shown that it is the most wagered option in sports betting.

American odds

To read American betting odds (or money line odds) you need to know how to differentiate them from the others. Luckily, American odds are easy to reveal as they are written with + and – before the number.

A minus sign (-) is used for the favorites. It indicates the amount of money you have to wager to win $100. At the same time, odds for underdogs are marked with a plus sign (+). They indicate the amount of money you can win for every $100 bet.

For example, you have +385 odds on Detroit Lions to win. To earn a $375 profit from betting on DL aka underdogs, you need to wager $100. If the team wins, you will get back your stake plus $385 – $485 in total.

If you have -175 odds on Detroit Lions to win, the situation is the opposite. To win $100? You need to wager $175. If the team wins, you will get back $175 and earn an extra $100 – $275 in total.

Fractional odds

Now you have Fractional sports betting odds explained. You can recognize this type of odds thanks to a slash sign (/) or a hyphen sign (-). According to the online betting industry news, Fractional odds are the most popular across the globe.

So, if you see 5/1 or 5-1 at a sportsbook site, be sure that you have found Fractional odds. How to read them? In betting, 5/1 or 5-1 means that you win $5 on each $1. The bigger the number on the right, the more winning chances a team has.

Types Of Sports Betting Bonuses

For example, let’s suppose that Man City has 10/1 odds to win their next match. As they are underdogs, you will get $100 for each $10 you bet on the club. Additionally, you will get back your $10 stake making your total winning sum $110.

Now, let’s suppose that Man City is predicted to win their next match with 10/11 odds. It makes them favorites, so you will receive only $10 for each $11 you bet (plus your stake is back).

Decimal odds

Finally, Decimal sports betting odds. After learning them, you can go and check the best online sportsbook deals this month, but first, let’s see how to read the Europeans’ favorite type of odds.

Decimal odds are probably the easiest to understand. After looking at them, you will immediately reveal underdogs and favorites. Usually, Decimal odds are written with a dot (.) – 1.25, 5.00, 10.70, etc. The bigger is the number, the fewer winning chances there are.

How to count your possible profit? Simply multiply your stake by the odds. For example, you have 1.50 odds on Taylor Swift to win Grammys for the Best Album this year. Low-numbered odds make her favorite, so you will get $150 ($100 x 1.5) for each $100 stake with $50 as a net profit.

At the same time, you can bet on Ms. Swift aka underdog to win the award for Best Collaboration. With her 7.00 odds, you will get a $700 profit if your $100 stake is successful. Any questions?

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The whole betting process can be a bit overwhelming for new sports bettors. There are so many different types of wagers to learn. After you read this guide to the types of bets, you will no longer be confused as to how to bet on sports.

Every sportsbook offers multiple types of wagers for most sporting events. So, after choosing a betting app, once you get logged in and make a deposit, you’ll see a list of games and matches with various wagers. On events such as the Super Bowl, there are literally hundreds of different types of bets you can place.

On most sporting events, however, you’ll find standard betting types that we are about to explain. Here’s a list of all of the wager explanations you’ll find on this page along with examples.

How Do Sports Betting Odds Work?

Effectively betting on sports – turning a profit – requires an understanding of the odds. You can’t win every bet you place. In fact, many great sports bettors lose around 40 percent of the games they play. They don’t have to win them all because over time, if they play the odds correctly, they’ll win.

To help you understand how betting odds work, we created a spreadsheet. The following is based on standard point spread odds. For this example, we’ll use a 2018 Week 17 game between the Chicago Bears and the Minnesota Vikings. We’re betting $110 on the Bears to cover.

Example: Understanding Point Spread Odds
Point SpreadLineJuice
-6.5110$10 per $100 wagered

Types Of Sports Betting Models

In this example, we needed the Bears to win by at least seven points to win the bet. And if that happened, we turned a $100 profit. Fortunately, Chicago came through with a 24-10 victory to cover the spread.

The point spread line (-110) is in place to help the casino turn a profit. If the sportsbook offered even money on this type of wager, they wouldn’t turn a profit. Let’s say $500,000 is bet on the game, half on both sides, the casino would pay $250,000 in profits to one side and collect $250,000 from the other for a break-even game.

Most trusted betting sites

Types Of Sport Betting In Kenya

That’s where the juice comes into play. When the casino gives less than even-money odds, if they get even bets on both sides, they automatically come out ahead.

Understanding the Different Types of Sports Bets

Sports Betting Language

We’ve already discussed the basics of betting the point spread, which is the most standard form of betting on football and basketball. When you bet the point spread, you don’t care if a team wins or loses, only that they cover the spread.