Sports betting can be considered a duel between a bettor and the bookmaker. The latter one gives out odds, while the bettor picks his games under those odds and tries to get them right. This can be done in two ways; you either go out to a betting shop and place a bet or you do it at an online bookmaker. Once you place the bet, the bookmaker is essentially holding your stake until the game/match, or whatever you bet on is over.
Sports betting means that you bet on a certain sport. If you get it wrong, the bookmaker keeps your stakes. However, when you get it right, they return your stakes plus the profits you made, depending on the odds. Sports betting is becoming more popular with every passing day. On top of that, more sports are being added as well.
When it comes to sports betting, there are a lot of sports on which people can bet on. This includes football, basketball, tennis, hockey, handball, American football, baseball, boxing, cricket, rugby, and much more. Obviously the biggest markets can be found in the most popular sports like football and basketball; however, the other sports are not to be ignored.
Whatever the sport is, you are simply betting on an outcome to happen in your favor. For example, in a football match if you have backed a certain team to win, you are banking on two other outcomes (a draw and a win for the other team) not to happen. Nevertheless this is just the most basic way of sports betting, where you pick a winner. There are tons of markets under various odds and its the bettor’s choice on which to bet on.
For instance, there are bet types like match betting, outright betting, handicap betting, team totals, correct score, and a lot more. Remember, the bet types consist of even more categories in which bettors can engage. Read more about that, below.
Sports Betting Types
Before discussing the types of sports betting, its important to mention that we divide it initially into online and offline betting. The latter means that the bettor goes to a betting shop, makes his picks and places the stakes. With this type of betting you are not fully in control of the bets you make. You can only use the ones that are already given by the betting shop and you don’t have the opportunity to compare their odds to other bookmakers.
Online betting on the other hand is much more diverse. Several bookmakers even give you the chance to create your own bet. You pick several outcomes you think will happen in one match or several and the bookmaker gives you their odds. Additionally, you can have an account on several bookmakers and compare odds. At the end of the day, you will pick the ones that could possible earn you the largest amount of money.
Sports betting can give you a lot of opportunities to wager your stake and then double it or get even more. You could bet on the favorites and wager a larger sum of money or wager a small sum to win big by backing the underdog. On top of that, you can bet over/under on a certain score, points, or gems, handicap bets, etc. There are many more bets like the ones we mentioned and we are going to list some of them.
The bet types that are part of match betting are some of the most basic bets out there. There are the 1X2, Double Chance, H2H, HT/FT, Moneyline, and To qualify bets. These are all bets that you usually make for team sports like football, handball, basketball, rugby, etc. However, they don’t work well with most individual sports since some of the options can’t be used there. For instance, there is no HT/FT in tennis, not even a draw because someone must win the match.
Totals Sports Betting
Totals betting is one of the most exciting bet types out there. The reason behind that is because it can be used in many different sports. For instance, you can bet on the total score, the total number of sets/gems, total field goals, total corners, total free kicks, highest scoring half, total points, etc.
Match Specials Betting
From all the bet types, match specials betting is probably the most interesting one. It can also be the fastest way to bet on sports. Nevertheless, even though its very interesting, this type is not used too much since it can be complicated. Here you can find bets like who gets the next corner, who gets the next yellow card, the next red card, etc. Additionally, you can pick what time the first goal will happen, which team gets the first or only penalty, which team to win to nil, etc.
On top of that, you can also bet on the match result and the top score. Last but not least, you can also bet on which team will score in both halves.
Handicap Betting is an alternative to the most basic 1X2 match betting. The Handicap bet becomes valuable when one team is a strong favorite in a certain match. In a case like that, betting on the favorite through a traditional 1X2 bet makes no sense because the odds will be very small. The bet types in this group include the most popular Asian Handicap. However, there are also the 1X2 Handicap and Set Handicap.
All in all, sports betting is becoming very popular all around the world. Ever since it started conquering the online world, it rose drastically. Similarly to casinos, bookmakers improved a lot once they moved their business online. Right not, bettors can place bets from the comfort of their own home. They can pick what they want to bet on and even pick the bookmaker with best odds. You have to option to bet on anything, on any bookmaker of your choosing. This alone proves that the betting world has never been better than right now.
To check out a big selection of sports betting types, head on over to our Bitcoin Sportsbook.