Types of bets and markets

Types of bets

So how do sports bets work? To understand sports betting, you should look at the different types of bets. So familiarise yourself with the different types of sports betting before you start placing your bets.

Direct bet

A direct bet is when you place a bet on the outcome of a single match. If the result is a draw, you will get your money back. Direct bets can be made by betting on NHL, MLB, NBA or NFL events. When you choose a direct bet, you will be betting on the outcome of one single game.

System bet

A system bet is safer because you don’t have to win every leg of the bet to get the winnings. If you bet on three games, for example, you will still get your winnings using the system bet if only two of the three bets are favourable. Instead, try using basketball bets, in which the non-favourite team often wins.

Parlay bet

Parlay bet

Also known as a cumulative bet, this type of bet is riskier because it is easy to place but not so easy to win. A parlay bet consists of a bet followed by successive bets to create one total bet with a combined potential profit. All bets must be successful for you to win or lose the full amount.

Play betting

A fun way to place bets is to place bets in real time while a sporting event is taking place, such as during a live NHL game.

Moneyline bet

A moneyline bet is similar to a live bet in that you are placing a bet on the winner of a match, race, event, game, fight or competition.

Point spread bet

Spread bets can be placed on both the favourite and the player who is not the best odds and are commonly seen in sports such as the NFL and NBA. The point spread, so to speak, evens the playing field and is a good betting method to experiment with when first exploring sports betting.

Total stake

Typically, your chosen sporting event will predict the total number of points or goals they think will be scored during the event. You can then bet on whether you think the number will be higher or lower (over/under) and the outcome of your bet will be determined by whether you have correctly selected the higher or lower predicted total.

Teasers and Pleasers

Teasers and Pleasers

This type of bet is quite a difficult choice and only experienced bettors tend to choose this type. Teaser bets are common in the NBA, while Pleasers are ideal for football. It goes hand in hand with parlay betting, and you can move the point spread across all related games by a certain number of points in exchange for a different return. The point spread changes in your favour with a Teasers bet, and the odds are less favourable.

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