Types of Sports Bets
Internet sports betting has completely changed the way punters access the latest sports news and place bets. Online sports betting has also opened up a whole range of new betting types that previously didn’t exist. For those punters who have been around a while, the various types of betting options should self-explanatory, but for most people, a quick refresher is needed to understand how the various type of bets work. In the notes below, we are going to look at the most common types of sports bets found online.
Fixed Odds Betting
Most online sports betting websites will offer fixed odds betting as their main focus. This is the traditional form of betting and the one most punters will be familiar with. Simply put, fixed odds means that both parties agreed on the odds when the wager is placed. When the subsequent wager does win, the agreed upon odds will be paid out even is the odds have since moved.
Fixed odds is used in most sports like football, tennis, rugby, and many other team sports. Punters can place bets on which team will win the match/game with set odds in the weeks leading up to the match. Fixed odds betting is also used with live bets where punters can place bets as the action happens. While this option used to exist online, it can now only be done via the telephone.
Many top sports betting sites will offer spread betting. This is not to be confused with point spread betting which is completely different type of sports betting. Spread betting is a complexly different type of betting that separates itself from fixed odds. With spread betting, the odds are irrelevant and the total stake in not fixed. It is best understood if we compare it to totals betting. Here punters pick a value that is higher or lower than the amount set by the bookmaker.
A correct bet pays out fixed odds while an incorrect bet results in the loss of the stake. In spread betting, sports betting companies go one step further. The amount won or lost fluctuates depending on how wrong or right the bet may be. This means an accurate wager can result in an extremely high payout while wrong bet can see the punter in for far more than their original stake. This is risky bet system that must be considered with caution.
Pari-mutuel betting is a type of betting that punters will find with most racing bets and few types of individual sports. With Pari-mutuel betting, there are no real sports betting odds at the start of the race. How it works is that on an event, all the wagers on the specific betting market will go into a “Pool” After the event has taken place, the betting agency will take a small percentage of the pool and the winning bets will be paid out from what is left over. This type of setup means that there are no odds but the payouts can be extremely lucrative if the event is popular and many people go on to place bets.