Types of sportsbetting

Which Type of Sports Betting Is

Types of sportsbetting in Sports betting is defined as sports results prediction and at the same time placing a wager on the hinted outcome. However, little which people know that sports betting covers a multitude of related but different activities where any types of bets can be applied as long as it’s associated with any sporting events. Some types of sports betting are newly formed, wherein today, live betting using the Internet and Sportsbook software is earning popularity. Meanwhile, other types of sports betting like fixed odds betting which is the most popular way to bet on a sports event have been around for many decades or even centuries. Presently, among the different type of sports betting, people find live betting through online is the most efficient and productive sports betting platform.


Fixed Odds Betting

Fixed odds sports betting is the most traditional form of betting in a sports event. Most people are familiar with this type of sports betting, even though they are not familiar with the term of fixed odds. In this type of sports betting, both of the bettors agree on the odds when a wager is already being placed. Even if the odds have been moved, the winner is still paid out according to the agreed odds. This type of sports betting is very straightforward, for example, a wager can be placed on which team or player will win. Those who picked the right team or player, he wins and gets paid out.


Live Betting

Live betting is the type of sports betting which earned today’s popularity. This is known as the sports betting for millennials. Live betting is also a form of fixed odds betting, however, the only difference is that in this type of sports betting, the bettors bet on events “after” they’ve started. The Internet gives the power to live to bet. Today, it is played using a Sportsbook software for the bookie. A Sportsbook software is incredibly popular due to its variety of features which makes online sports betting more convenient for everyone. Moreover, unlike other types of sports betting, live betting ranges on different sports and events giving its more appealing advantages. Another advantage of live betting is that the bettor can feel how the event will turn out before placing a wager, thus, gaining the edge over the bookie.


Exchange Betting

Exchange betting is another newly formed type of sports betting. In this type of sports betting, the wagers can be placed at an exchange. Exchange betting is also a way similar to traditional sports betting, except that in the way that exchanges work and there is no bookmaker to handle every game and wagers. The wagers are being placed between bettors, thus every time a wager is placed, there is another bettor taking the opposite position. In exchange betting, there are two sets of odds for each player instead of only one.  One of the odds is labeled “back” while the other is labeled as “lay” which both represents the wagers placed by each bettor.


Spread Betting

Spread betting is different from Point Spread Betting. Spread betting is a type of sports betting that is completely different from traditional betting. It’s a complicated type of sports betting and never been popular where the odds and stake are not in a fixed amount. Spread betting has a little similarity with betting the over/under or totals betting which is predicting whether a specific value will become lower or higher than the amount set by the bookie. Moreover, in this type of sports betting, wagers are not simply settled whether which is right or wrong but on how much are either right or wrong by. Spread betting is not always used for it can place every bettor and bookie in extremely high risk.


Totepool Betting

Totepool betting is a type of sports betting which is available across the United Kingdom at 56 of the 59 racecourses. This is also played online using sportsbook software today aside from greyhound stadiums. This type of sports betting is used as an alternative for greyhound and horse racing instead of using the traditional method of sports betting. Wagers on totepool betting is placed at outlets or online. the prizes are distributed just like in a lottery. The winner is determined by the winning greyhound or horse and how much money was placed in the race as well as the winning bettors. However, if a bettor put back the favorite and it wins, it is more likely that other bettors have also placed a wager on the same team or player, and this will divide the bettor’s share.


Lay Betting

Lay betting is a type of sports betting which involves wagering on an event not happening. It is commonly used for sports such as rugby match, race, or even football. It somehow follows the traditional way of sports betting. However, if a bettor thinks that the favorite’s odds may seem impossible to win, betting exchanges can be done. This will allow the bettor to lay a bet for another punter to take back, thus making him the bookmaker for the game. If his selection loses, the layer receives the backer’s stake as a reward. However, if the opposite happens, the layer should pay the backer’s winning bet.


Daily Fantasy Sports

Daily fantasy sports is not yet considered as an actual type of sports betting. However, it still involves risking money in exchange for a chance of winning more money. In daily fantasy sports, a fantasy team of real players is drafted. The team is drafted using some specified criteria and fight against another drafted team by others. On the other hand, teams can earn points based on how their drafted players perform in “reality”. Today, daily fantasy sports games are sponsored by websites for free and may tend to be around during the entire seasons giving prizes to the owners who drafted the winning teams.


Pari-Mutuel Betting

Pari-Mutuel Betting is another type of sports betting which starts in the late 19th century. It does not need a bookie, for it is removed in pari-mutuel betting due to the profit margins which bookmakers create. Joself Oller proposed pari-mutuel betting as a solution to place wagers in a better way than having a bookmaker. However, calculations make this type of sports betting complex, there is also no odds involved, but then, the overall principle of pari-mutuel betting is pretty straightforward. A bettor would only need to place a wager on a specific betting market go into a “pool,” when all the wagers had been settled and the game was over, the winning wagers will then be paid out of the pool.


E-Sports Betting

E-sports betting is the newest type of sports betting wherein it’s not totally related to the traditional way of sports betting platform. E-sports betting uses electronic sports of video gaming which a bettor can wager on competitions. The Internet also powers up this type of sports betting wherein gamers play online against each other from a local area network to all over the world. There are e-global sports tournaments established today for this type of sports betting.  The winner of the game earns the prizes which had been set by the other players.


Matched Betting

Matched betting is a type of sports betting which has popularly emerged for it takes away the risk from gambling through offering betting exchanges and free bets to ensure the possibility of profit. This is otherwise known as lay bet matching or as double betting allowing the bettor to exploit offers by backing any possible outcomes. Matched betting uses a betting exchange to effectively provides the bettor chances to act as a bookie through laying bets for others. It is common on an event not happening such as football and horse racing. By laying a bet and betting exchange, which typically goes against how the free bet is wagered, guarantees a profit.

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