Betting Blog – Learn about Types of Bets
Online sports betting is a newer, more convenient way for gamblers to place their bets and play the casino games. With exciting online features, such as streaming, live wagering, and special promotions, sports betting has never been quite as good as it is today.
But to get started in the world of online wagering, you first need to learn about sports betting, how the odds work, the different terms, making deposits/withdrawals, and much more. That’s why we’ve created this introduction to our site, so we can direct you to our many informational articles that you can use to understand online sports betting.
To learn more about these topics, keep reading below. We’ll dive into some essential details that sports bettors should be aware of in order to make the most of the experience online. Now, let’s get into the details!
How to Learn Sports Betting Online
Sports betting can seem daunting from the offset. There are nearly endless wagering options in today’s industry, whether you want to bet on esports, racing events, professional leagues, or something else entirely. There are so many markets to choose from and different ways to bet on the stats and outcomes of events, as well.
Below, we’re hitting the basics of:
- Sports betting odds
- Types of sports bets
- Understanding terminology
- Sports betting bonuses and promotions
- Sportsbooks versus racebooks
- Sportsbook depositing and withdrawing
Learn About the Odds
Many people will suggest finding sportsbooks with “competitive odds” or “high odds”. These are sites where you get the best odds for the lowest prices. But before you can find the best odds, you need to understand what they are in the first place.
For many newbie sports bettors, getting to know how the odds work is a bit daunting. Bookmakers around the world actually set their own odds and game lines, each with their own unique commission (vigorish/juice).
Luckily, our site is full of informational guides to help you understand how the odds work in specific betting arenas, such as horse racing, football betting, and more. You can start by learning about the basics of odds lines – such as the positive odds (underdog teams) and the negative odds (favorite teams).
When you’re familiar with the odds setup for straight wagers, you can move on to learn about the odds for parlays, props, and other special wagering options.
Learn About the Types of Bets
In addition to articles explaining sportsbook odds, we also have guides to types of wagers. Although most people know that you can easily bet on the team you think will win a game or match, there are so many other types of bets not directly based on the game outcome.
Examples of different types of wagers include:
- Parlays – multiple bets on the same wager (high-stakes)
- Props – also known as specials, bets on player and team stats and performance
- Futures – also known as outrights, these are to-win bets placed in advance of the final game of a tournament
- Handicaps – common in football betting
- Etc.
Additionally, there is a difference between pre-game and live (in-game) wagering when you compare the odds and other factors.
Some sports events, like horse races and cycling races, even have sport-specific wagers like head-to-head bets that you can place.
Learn Sports Betting Terminology
Another way to familiarize yourself with the sports betting world is to brush up on the terms. There are so many terms related to gambling online that it’s hard to expect anyone to memorize them all. But knowing what they mean can help you to quickly assess markets and place your bets according to your knowledge.
For example, in horse racing, betting terms include all types of race horses, race tracks, conditions, and more. Then, in basketball betting, there are more basic sports betting terms to know.
Even knowing what a sportsbook means when it refers to a “bet slip” (wager tracker) or “vig” (bookmaker commission) is important.
Some basic terminology that all sports bettors should know include the following:
- Bankroll – money set aside for wagering
- Self-exclusion – tools like deposit limits, wagering limits, etc. that players can set on their accounts
- Juice – commission that the sportsbook makes on wagers
- Lines – what the odds for a sports bet are set around, usually for to-win bets
- In-play betting – wagering on an event after it starts
- Bet slip – a feature to track your ongoing and settled wagers
- Deposit bonus – a bonus you can redeem when you make your first deposit at a sportsbook according to the rules
- Referral offers – bonuses where players can earn a bonus percentage of their friends’ deposits when they join
Learn About Sports Betting Bonuses
One aspect of online sports betting that distinguishes it from in-person gambling sites is the addition of exclusive bonuses and promotions.
Players can now get exciting betting offers in return for joining online bookies and making a minimum deposit. But there are important things to know about these promotions, such as:
- What are the wagering rules?
- Are there odds requirements?
- How long do the offers last?
- Who is eligible for each offer?
So learning about how to use promotions, rewards systems, and other offers at sportsbooks is important from the get-go.
Our informational guides give insight not only into the types of bonuses out there; but we share insights into bookmaker-specific promotions as well. We also teach players how to spot worthwhile promotional offers, as opposed to those that are expensive and only really benefit the sportsbooks.
Learn About Horse Racing, Sports, and Esports
One other topic that new bettors usually want to learn about is the distinction between types of sports betting. The world of betting on the NHL, for example, is vastly different from the world of betting on, say, greyhound races, F1 races, or even esports tournaments.
Many online sportsbooks now include “racebooks” – pages dedicated to the horse racing tracks and markets around the world.
Additionally, there are whole sections of bookies that cover the esports betting odds, whether you want to wager on League of Legends or your favorite CS:GO live tournament.
Being aware of the vast selection of sports betting options at your fingertips is essential. Knowing what a betting provider features in their lineup can help you to decide which sportsbooks are worth joining in the first place.
Learn About Sports Betting Payments
And of course, how you make your deposits and payouts at online sportsbooks is just as important as choosing which ones to make. There are two main areas of sports betting payments to be aware of – crypto betting and regular betting.
The former option is a newer addition to the industry, with more and more offshore bookmakers adding payment options like Bitcoin, Litecoin, and Ethereum to their cashiers. Crypto betting poses serious advantages, such as faster payouts, secure transactions, lowered fees, and higher bonuses.
But for people who don’t want their currency values to waver when gambling, regular betting includes options like credit/debit card, e-wallet, online banking, wire, and prepaid card deposits.
Knowing which type of betting payment method you want to use is one of the first steps to creating your bankroll and joining a sportsbook online.
Summary
Sports betting online presents many new opportunities to fans of gambling, from dozens of markets to high odds, deposit bonuses, and much more.
As you prepare to join an online sportsbook, it’s important to be aware of how the odds and types of bets work. It’s also a good idea to familiarize yourself with promotions, payment options, and sports betting terminology that can key you into how it all works.
Be sure to check out some of our many sports betting articles throughout our site to get tips and insights into the gambling process online. You can benefit from guides on everything from betting types to sports betting specifics, betting terms, and so much more.
