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balls for different types of sports
balls for different types of sports

Popular Types of Sports Bets in Online Casinos

  • 🎲 Diverse Betting Options: Sports betting now offers a variety of bets beyond predicting winners, enhancing excitement and potential winnings.
  • 📚 Understanding Bet Types: Knowing different bet types (markets) and their rules is crucial for success in sports betting.
  • 📊 Popular Bet Types: Key bet types include moneyline bets, parlays, over/under bets, prop bets, point spread bets, futures bets, and in-play bets.
  • 💵 Moneyline and Parlay Bets: Moneyline bets are straightforward, while parlay bets offer high payouts but require all individual bets to win.
  • 📺 In-Play Betting: In-play betting allows bets during a live event, with dynamic odds adjusting based on real-time action.

One of the most exciting aspects of sports betting is the large variety of betting types. While conventional sports fans often see sports games through a binary lens of win or lose, a sports bettor can turn even a loss into a victory with the right type of bet! 

No longer limited to predicting outright winners, today's bettors can wager on a wide range of outcomes, offering excitement and more significant winnings. If you're a sports enthusiast seeking to dive into online betting, this guide will break down the most popular sports bets you'll likely encounter in online casinos. 

Why Are Betting Types Important?

Before placing your first wager at an online casino, it's essential to understand the language of betting. Each bet type, also known as a ‘market’, operates under specific rules. It's not merely about who will win the match; there are other viable and exciting betting options. 

players on the field and viewers watching from the side

You’ll be able to bet on specific outcomes that happen during the game, which means as long as you’re correct in those areas you’ll win money no matter what team wins or loses. These outcomes can be as minor or major as you desire, however, their odds will always reflect their impact. This is why it's important to learn about the most popular types of sports bets. Finding the right kind of bet that suits your betting style could be the key to success that separates you from the average and increases your winning potential.

Moneyline Bets - Easily Understood by Sports Betting Beginners

Moneyline bets also known as a ‘straight bet’ or a ‘single bet’ are perhaps the most straightforward of all betting options. They involve choosing winners of a game outright. It's the most fundamental type of bet and a perfect starting point for beginners. Although very simple, they can still be quite profitable if you enter them with favorable odds. Moneyline bets are usually presented with a ‘+’ or ‘-’ sign and a number that indicates how much you’d win with $100 or how much you need to bet to win $100.

For example, the infamous boxing match between Ryan Garcia and Devin Haney in 2024 had Garcia as a +800 underdog and Haney as a -1000 favorite. If you were to bet on Garcia, a mere $100 bet would net you up to $800! On the contrary, although Haney lost, if he were to win, a bet of $1000 would only get you $100.

Parlay Bets - Big Risk, Huge Winning Potential

Parley or accumulator bets are likely the most popular betting type option right after the moneyline bet due to their seductively high payout potential and straightforward nature. They have carved their own niche in the online sports betting scene, so much so they’re often compared to traditional casino gambling.

Representing a series of multiple bets, parlays are like a puzzle, where each piece is a small independent bet, known as a 'leg'. On their own, these legs might not bring you a significant win. But, when you piece them together, they have the potential to turn into a big, juicy jackpot. However, it's crucial to note that this form of betting carries a risk - it's almost a test of accuracy, where all your selected wagers ('legs') must be successful for the entire parlay bet to yield the coveted winnings.

This is why accumulators are considered a double-edged sword, with many serious punters completely swearing them off, labeling them as ‘sucker bets’. Statistically, these punters wouldn't be in the wrong as parleys make sportsbooks the most amount of profit out of all the sports bet types. However, in the hands of a responsible bettor, parleys can still be an effective tool in their toolbox with the right approach and bankroll management.

Over/Under or Totals Bets - Unique Bets for Knowledgable Bettors

Adding further diversity to the practice of sports betting are ‘over/under’ or ‘totals bets’. This betting type offers a unique twist by allowing you to place wagers based not on who wins or loses, but on the combined total score of the teams involved

live sports betting matches on the laptop screen

For instance, an online casino might post a projection of the estimated total score for an upcoming NBA game. For the sake of the example, let's say the gambling site’s projection is 212 points. As a bettor, your job is to decide whether the actual total points scored by both teams will be over or under this line. If you predict the total points will sum up to more than 212 points, you place an 'over' bet, but if you believe the total points will be less than 212, you would place an 'under' bet. It does not matter which team wins or how wide the score margin is; your wager's outcome solely depends on the accumulation of the points. 

Say, for example, you place an 'over' bet on the aforementioned game and the final score is 110-105, making the combined total 215 points. In this scenario, you win your bet. On the contrary, an 'under' bet would have been lost. Over/Under bets are not only exciting but require sound knowledge of the teams' offensive and defensive capabilities, adding an additional layer of strategy to your betting practices. 

Prop Bets - Personalizing Betting Experience

With prop bets, you can capitalize on your ability to make intuitive decisions. They provide an inviting opportunity to invest in the performance of individual players or events occurring within the game. Ever thought about placing a wager on your favorite football player scoring a touchdown or a basketball player making a certain number of rebounds? Prop bets allow you to do just that! They offer a unique and creative way for you to leverage your detailed knowledge of a sport or a player, making your betting experience more personalized.

Successful prop betting demands a great blend of sports knowledge, strategic thinking, and sharp observation skills. For example, if you closely follow a soccer player's performance chart and notice they consistently score two goals in every game, a prop bet wagering on the player scoring exactly two goals can be lucrative. In essence, prop bets provide an exciting avenue to personalize your online casino betting experience. They allow you to put your keen sporting intellect to the test and reward you handsomely for it. 

Point Spread Bets - Forecasting The Victory Margin

Now, let’s unwrap the buzz behind point spread bets. This form of wagering is essentially a method used by sportsbooks to level out the competition when there is a clear favorite and an underdog. By providing a forecasted margin of victory for the favored team, it brings an intriguing twist to your betting game. As a bettor, your challenge is to predict whether the favorite will succeed by more than the stated margin (thus 'covering the spread') or if the underdog will manage to keep the game closer or even snatch an unexpected victory.

Imagine the New York Knicks, for instance, entering a heated contest with the Boston Celtics. If the Knicks held the favor and were given a spread of -3.5, they need a victory margin of at least 4 points for a bet on them to yield returns. Conversely, if you placed your wager on the Celtics at a spread of +3.5, they could lose by up to 3 points, or even triumph over the Knicks, and your bet still emerges successful. 

Futures Bets - Long-Term Bets for True Sports Betting Fans 

As its name implies, futures bets hinge on predictions about longer-term outcomes that are typically decided weeks to months in the future. Take, for example, the anticipation-filled atmosphere at the start of a new NFL season. A futures bet could be you throwing your support behind the Dallas Cowboys, staking your claim that they'll win the Super Bowl even before the season officially kicks off. Similarly, you might choose to back a specific NBA player to become the year's MVP (Most Valuable Player). 

futures bet type

These types of bets reward seasoned sports fans who have a nuanced long-term understanding of the game, teams, and players. Essentially, futures bets tease out the potential of longer-term predictions, extending the enjoyment of the betting process. They provide an ongoing connection between sports enthusiasts and their chosen teams or athletes. What they offer in terms of thrill, engagement, and potential payouts, they also require in terms of patience and strategic foresight. 

In-Play or Live Bets - For Players Looking Ultimate Betting Excitement 

Nothing quite matches the pulse-pounding excitement of in-play or live betting. This dynamic wagering style allows sports bettors to place stakes on a sporting event even after it's already in motion, making it an ideal match for sports with unforeseeable twists and turns. 

Sports like Mixed Martial Arts (MMA) where a tide can shift in an instant, are therefore the perfect pairing for live betting. Within the no-holds-barred intensity of the octagon, a fighter can be on their back foot one moment and dominate the next. Even the most skilled athletes can be taken down by a well-timed hit, illustrating the thrilling unpredictability inherent to this sport. 

Live betting finds its perfect home in sports such as these, as odds adjust dynamically in response to the action unfolding in real time. Placing strategic bets on an underdog staging a comeback or pinpointing the next fighter to score a knockdown becomes an exhilarating challenge that enables bettors to stay deeply connected to the pulse of the action. 

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