All types of bets explained to the punter.
The different types of bets in Sports betting has been prevalent for hundreds of years, alongside just about every nationally recognized sport. Although betting on sports has been a historically renowned past-time for centuries, the types of bets and betting processes amongst each sport can prove to be very detailed, but also very profitable. With the sports betting industry bringing in a total of $11.5 billion in international revenue each year, the level of prominence surrounding sports betting is still proudly holding it's ground.
Depending on your expertise surrounding the betting process, you may be wondering where to start. For each particular sport, there comes a list of recognized types of bets and betting systems to take part in. While this may appear to be somewhat overwhelming, the general guidelines surrounding most betting systems can be easily learned. On this page we will specifically focus on the types of bets found in horse racing, football. We will also familiarize ourselves with the betting exchanges and their types of bets.
Types of Bets in Horse Racing
With the first racetrack being constructed in the year of 1665, horse racing and betting has been around for an exceptionally long period of time. Due to the sport and it's betting industry being well-established for so long, the list of types of horse racing bets is quite extensive. Fortunately, once you are able to acquire a general understanding regarding specific terms and keywords in their betting vocabulary, it becomes much easier to understand.
Forecast and Exacta bets add Spice
First and foremost, horse betting is one of the most affordable sports to bet in, due to minimum betting wages typically starting at only $2-$6. It's as low as 10p for some UK bookmakers. One of the most common types of bets that has a $2 minimum, is the “exacta” bet. During an exacta bet, you are required to choose two horses to play, and they must win the race in both first and second place, in the order that you predicted. However, if you're looking for a more lenient option, the “exacta box” bet has the same idea, but the two horses that you have played can win in either order. In UK terms these bets would be called a “forecast” and “reverse forecast” respectively.
Try Trifecta Box bet first
Placing a “trifecta” bet in horse racing, is when you choose three horses, and they must come in first, second, and third, but they must all win in the same order that you have chosen. With a “trifecta box” bet, all three must win, but the order that they place in doesn't matter. They keyword, “box” should be recognized as a term that points to the order being irrelevant. If you choose to place a “box” bet, you choose the specified amount of horses that you predict will win, and as long as they come in as winners, it does not matter the order in which they placed. For novices who are have just recently been introduced to types of bets on horse racing, it can be beneficial to start off with box-based bets, due to them involving a bit more flexibility.
Another keyword to look out for while betting in horse racing, is the actual word, “key”. This pertains to the person who is betting choosing a “key” horse as the one that they feel will win the entire race. The key horse should be one that you feel has the highest chance of coming in at first place. For example, in a “trifecta key” bet, you would choose three horses, and pick one of them as the key horse. In order to win the bet, the key horse would have to come in first, and the other two would have to come in second and third, in no particular order. It is only essential that the key horse always comes in first place with key-based types of bets.
Types of Football Bets
Moving onto another highly regarded sport, football. This is another sport that is commonly bet on that has many different types of bets. Football became a nationwide favorite about 200 years later in 1869, but it is still historically known for having a substantially large betting industry.
The most commonly used betting type in regards to football is the, “Total Goals” bet, which is also known as the “Under/Over” bet. When utilizing this particular betting system, you predict a number of goals that your preferred team will make, and your win depends on if your guess was over or under the amount that you originally predicted. For example, if you guessed that Team A would score 3.5 goals, but they only scored 2, you would lose the bet. If they scored 4 goals, you would win the bet. This system is often bet on with a standard 2.5 component, so the most common bet amongst experts is often just 2.5.
Another popular type of football bet, is the Half-Time Result (HTR) bet. All this bet consists of, is guessing at which team will be winning or losing during half-time. Betting on the HTR also qualifies a draw as a valid bet, so many often predict that the game will be a draw at half-time. Two other straightforward approaches in football betting, are the Correct Score (CS) bet, and the First Goal Scored (FGS) bet. These types of football bets are pretty easy to decode, as they refer to simply guessing the correct score of the entire game, or betting on who will score the first goal.
Beat the Bookmaker with Betting Exchanges
You don't need the bookmaker at betting Exchanges. Instead you place your bets against fellow punters who set the odds. Either back your selection or lay at the odds you want to. Take control of your bets and the odds with Exchange betting. You pay a small commission on any winning bets you have to the site. Take a look at the top Exchange betting sites and their free bets/bonuses that they have on offer.
The popularity of sports betting is steadily increasing, and so are the amount of betting types and betting facilities. Betting exchanges, both physically and virtually, are the most common methods of laying organized and professional bets in a solidified manner. Betting exchanges provide betters with a way to lay their bets in a constructive fashion, while receiving the best deal possible, due to no actual book keeper being present to collect revenue. Many of these betting exchanges also offer tools for calculating odds was well, in order to ensure that their members are receiving the highest potential of winning.
The sports betting industry brings in billions of dollars annually due to it's popularity, the future for betters and betting exchanges is promising to say the least. As long as it is foreseen with responsibility and knowledge surrounding the sport at hand, betting can be one of the most fun and profitable past-times to participate in.