More than a million people are involved in sports betting. This makes sports betting one of the most popular forms of gambling in the world. But do you know the types of sports betting?
Sports betting includes different sports including cricket, soccer, hockey, basketball, and even horse racing. If any of you are into horse racing, you should visit the AmWager website. Upon registration on the site, you can claim your AmWager promo code to redeem your welcome bonus.
In this post, we are going to give you a brief overview of the different types of sports betting out there.
Understanding The Types of Sports Betting
Sports betting can of various types based on the way you place your wager. Here is a brief rundown:
- Total line bets
This one is a very popular type of betting in the sports betting world. In this bet type, a number is decided for the final score of both teams. You need to either bet over the final score or bet under it. In many cases, you get to bet on each half of the game. This is followed mainly in sports like basketball and football.
- Straight bets
If you are a regular bettor, you must already know about this type of betting. This is the most common type of betting followed in many of the sports. In this type of betting, a betting line is decided. This is called the point spread. In this case, you can either place your bet on the underdog and score points or give up the points by betting on the favorite.
For the favorite to win, they have to score more than the set betting line. On the other hand, the underdog has to lose by less than the betting line. If there is a tie, no money will be won or lost.
- Parley bets
By parlay, we mean grouping more than two picks together in a single bet. You can group up to 10 to 12 picks. The betting odds on pay-out is adjusted based on the number of picks you have grouped. If all your picks win, you can cash-in on a parlay. If not, then the entire parlay is lost. This is why parlays are considered to be very risky. However, they are highly rewarding and that’s what tempts players to try it. If you are new to sports betting, you should better avoid this type of betting.
- Exchange betting
This is a relatively new type of betting introduced in sports betting. This type of betting is practiced by many people these days. This type of betting is similar to traditional sports betting. The odds are set at the time of wagering. But the main thing to note here is that it doesn’t involve any bookmaker. In other words, all wagers are placed between bettors. This means you are gambling with other players.
- Head-to-head betting
Head-to-head betting is more common in sports such as golf and NASCAR. This type of betting comprises just two competitors. The winner is the one who wins the highest points. In some cases, the money line is linked to each competitor. This is to handicap the match. This type of betting is getting popular because players find it intense. It is very difficult to pick a winner among a large field.
- Teaser bets
A teaser bet is similar to a parlay bet. In this type of betting, you can multiple picks together in a single bet. The only difference is that you can tweak the betting in your favor for a lower pay-out. For example, if a sports book is giving a six-point bet, then a 3.5-point underdog will get 9.5 points. The problem with teasers is that they are difficult to hit. Also, your overall pay-out is decreased quite a lot.
- Live betting
Live betting is a type of fixed-odds betting. It has its own set of rules that needs to be followed. In this type of betting, you can place a wager any time during the game. Although this is a new betting type, it is already very popular. You should be informed that this type of betting is only available online.
Live betting is offered by many of the gambling sites. The good thing is that they cover a large variety of sports. In live betting, you can find many types of wagers, but the odds changes as the game progress. One advantage of live betting is that you can place your bet after analyzing how the game is progressing. This makes it a bit easier for you to decide on your wagers.
Sports betting is a vast world. It not only involves a wide variety of ports, but also different types of betting. These are a few of the most common types of betting that is practiced by most players.