In sports betting, there are more than twenty types of sports bet used in total. However, some are not applicable to the Sportsbook software in online sports betting. The different types of bets should be well understood before entering the world of gambling in order to avoid mistakes and conflicts with other bettors and the bookmaker as well. According to studies, being not fully aware on how bets are processed which leaves them the variety of choices to bet is the biggest reason why people lose more and more money in sports betting. To understand bets, here are the first list of sports bets, so you can check which type of sports bet is for a specific game and sport.
The single bet is known as the core standard of all types of betting. In this type of sports bet, a bettor finds a market that he wants to place a bet on such as football, tennis, golf, basketball, among others. The bettor will simply place a wager in any of the team or player. When the bet is set, the bettor would have to wait for the game as well as the odds on the selection and wait until the game is finished to see the result. On the other hand, this type of sports bet can also be expanded. This can be done in things like the stance of an each way wager. A single bet will be placed, but it will later on split in two. The other half of the selection will be placed into 2nd, 3rd, 4th and so on. Then if the selection wins, the payout will be full, but if not, it will only be ¼ quarter odds.
A straight bet is also known as the side. This is one of the most common types of sports bet wherein the picking of a team will be placed in advance. For example, in the case of football or baseball, the bettor would have to place a bet on the team which will win the game outright. This will also come along with the point spread as part of the bet. The team who would get the higher point in this type of sports bet is the winner. Consequently, in sports which have no direct point spread like boxing and baseball, it is the role of the moneyline to determine the payoff.
Pleasers Payoffs is the type of sports bet which depends on how many teams are present in the wager. The Sportsbook software gives lots of convenience in this type of sports bet for it automatically credits the even money payout. In a regular pleaser, the player bets on two or more teams while the line on each of the teams is adjusted in a sense against the favor of the higher payout. While, Pleaser payoffs is slightly different from pleaser and another type of sports bet for its rules that if there is a tie in one or more of the individual parts, the bet will then be set down to the next number of teams. Meanwhile, if in case that a two-team pleaser has a tie and one winner, the pleaser will be obliged to pay even money.
MultiChance Parlay is a type of sports bet which may allow a bettor to win with incorrect selections. the same rules with progressive parlay. Consequently, even though correct selections are achieved the payouts does not increase in MultiChance Parlay. The bettor will be announced as the winner if he was able to reach the minimum amount of correct selections. This type of sports bet is applicable in basketball and football only and not in other sports due to conflicting bets and in online sports betting but not for phone wagering. The winner in this type of sports bet won’t be easily credited even if the wager is already declared as the winner until all of the selections are done with a result.
This type of sports bet offers low risk, but a high reward that results for the accumulator bet to receives several critics in the past. Some say it’s a great side bet and may overwhelm new bettors because of the big pay outs. Accumulator bet offers a lot of profit even if a small stake is offered. The accumulators will be named according to how many selections are in one such as three selections are named threefold, five selections fivefold, eight are eightfold, and so on. For instance, if a bettor placed a $4 accumulator on the fourfold, then if all selections won, the profit would be $212. Imagine the great profit in the payout of this type of sports bet, but the bettor should still learn to balance the risk over the reward in other instances.
Moneyline bet is otherwise known as win bets. This is the simplest and most popular type of sports bet. People who just started in online sports betting this type of sports bet is the warm-up bet. Before professional bettors develop mastery in the field of betting, moneyline bet serves as their winning strategies. While some of them continued this type of sports bet from the beginning of their online sports betting career up to the present day. The rule of moneyline bet is just as simple as picking the game’s winner. The payment in this type of bet is given based on the favorite and underdog pick. The data if the moneyline bet win or loss is carefully presented on the board of the sportsbook.
A pleaser is type of sports bet for basketball and football side straight bets, it’s also very similar to a teaser. The only difference between the two is that the line the bettor bet for each individual wager is moved against his favor from 6-7 ½ points. When a player bets on more than two teams and the line of each team gets adjusted against the favor of the player with a higher payout, this results to pleasers. More so, a pleaser gets similar to a parlay for all selections must be correct before a bet gets a payoff. One side or total may be selected in a game. The selections; side to a total, side to a side or total to a total within the same game are not permitted.
Open-parlays is the type of sports bet which is available in all types of betting platform whether on actual, online and phone. Open-parlays starts with regular parlays where when posted over the phone one or more selections may be left “open.” The parlays may be left open and a bettor may fill the open spots at a later time via an online website or phone call. In a Sportsbook software and other online sports betting platforms, a 24-hours is given to a bettor of open-parlays for the open spots. There will be no losing selections in this type of sports bet for the bettor can fill out the open spots one by one or all at once on parlay if it is still left pending. There is no expiration time frame here as long as there are no losing selections on the bettor’s bet.
A parlay is a type of sports bet is comprised of straight bets of moneylines, spreads, and totals into a single bet. In other words, the parlay is just a single bet which can link together more than two individual wagers for the sake of an increased payout. Parlay has much higher payoffs compared to individual bet. In order to get higher payoffs through winning, all of the individual selections of the parlay should win. However, if there is a cancellation or push in two more parlay picks, the wager would be automatically pushed down to next lower number of teams. In this type of sports bet, a bettor can parlay a proposition bets of different games or mix into different sports in the same parlay.
Progressive parlay is a type of sports bet which works in similar ways as the regular parlay. The only difference is that, in the progressive parlay, there is a possible consolation payout for having some incorrect selections. If a bettor takes a minimum amount of correct selections, he can increase the payout odds through each additional correct selection. Meanwhile, in this type of sports bet, the correct amount of selections can be considered as a loser if it’s not listed on the payout chart such as in the case of ties. This type of sports bet is only available in online sports betting only for basketball and football games.