Most Popular Betting Types All Beginners Need To Know

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May 19, 2023
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Betting has been around for centuries, but with the advent of online betting sites, it has become more accessible and popular than ever before. For beginners, navigating the world of online betting can be overwhelming, with a wide range of betting types to choose from. In this article, we will cover the most popular betting types that beginners need to know. Whether you’re looking to bet on sports or play casino games, understanding these betting types will help you make informed decisions and increase your chances of winning. Additionally, we at N8 will also provide tips on finding the best betting site in India, so you can have a safe and enjoyable online wager experience.

1. Moneylines

The easiest bet to learn is a moneyline bet. You try to guess which team (or player, in games like tennis) will win. You get the amount if you are correct. However, if you’re wrong, you’ll lose your amount. There is an outsider and a favourite in American odds. The favourites are shown by a three-digit number and a minus sign (-), and the losers are shown by a plus sign (+).

The number next to the favourite (-) sign tells you how much you need to bet to win 100. When you bet 100 on a loser, the number next to the (+) tells you how much you win.

For example, the Cincinnati Bengals were favourites with odds of +175 before the 2022 Super Bowl. The odds were -200 in favour of the LA Rams. If you put 100 on the Bengals to win, and they did, you would have made 175. On the other hand, you would have had to bet 200 on the Rams to make 100.

2. Point Spread

Predicting whether a team will win or lose by a specific number of points is called “betting the spread.” These bets will feature both traditional American odds and an additional number denoted by a plus or minus sign. If you bet on the team with the (-), they must win by that many points for you to collect.

The number to the right of the plus sign indicates the margin of defeat required for your team to win the bet. If the underdog wins, your bet will still be paid out.

Let’s pretend the spread between the Warriors’ -9.5 and the Grizzlies’ +9.5 favours the former. The Grizzlies are a 10-point underdog, so if you bet on them, you’ll only collect if they either win the game or lose by fewer than 10 points.

Or, a Warrior’s bettor needs to see a victory by at least 10 points. The American odds displayed next to the point spread wager indicate potential payouts. The number of points a team requires doesn’t change regardless of this statistic. Betting on sports where one team is a glaring favourite is made more exciting by the use of point spreads.

3. Parlays

Many people believe that some bets are only available to seasoned sports bettors. In reality, as long as you take the time to properly understand how they work, these three bets can be a lot of fun and are perfect for bettors of all skill levels. We’re talking about parlays, teases, and pleasers.

The parlay is the simplest of these three. A parlay is just a group of individual bets combined into one large bet. It might be as little as two separate bets linked together, or as many as the sportsbook allows. You must win each individual bet on your parlay in order to win your parlay. If just one of the bets fails, the entire parlay fails. However, if you win all of the bets, parlays pay out significantly more money than individual bets due to the more difficult nature of hitting a winner.

A teaser is the polar opposite of a pleaser. All of the betting lines have changed a certain amount of points in your favour. This makes winning each individual wager considerably more difficult, but the payouts are adjusted appropriately. It’s difficult to hit a pleaser, but when you do, you’ll be rolling in cash.

While this covers the majority of what you need to know about these three sorts of bets, there are a few intricacies to be aware of before you get involved. You must grasp what happens with ties, how they pay out, and a few additional particular requirements associated with each. 

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4. Over/Under

An over/under bet is one in which the sportsbook sets a total (number established by oddsmakers) for a certain statistic. You then forecast whether the outcome will be greater than or less than that figure.

A total of 220 might be offered by a bookmaker for a game between the Celtics and the Warriors. If you chose the over and both teams score more than 220 points, you win. It makes no difference whether the team scores the points, as long as the total matches your forecast. Over/under bets are also available for commodities such as passing yards and 3-pointers.

5. Prop Bets

Prop bets are a generic term for all other bets that haven’t been discussed yet in the world of sports betting. This is short for “proposition bets.” These are bets where you choose whether “something” will happen. Will the quarterback score more than two times? In this game, will the centre have more than four blocks? Will there be a hole-in-one at the golf event coming up?

These are just a few examples of prop bets. If they were talking about real players, they would use their names, but you should get the point. With these prop bets, you decide if you think something will happen or not, and then you bet based on that. You’ll see different payment odds on both the “yes” and “no” sides of the bet. This is again based on how likely it is to happen and how many bets have already been placed on each side.

Prop bets come in many forms and sizes. The most important difference is between prop bets that are just for fun and prop bets that you can make money off of. 

6. Futures

Even though all bets are on things that will happen in the future, future bets are especially important for things that will happen in the far future. Future bets can be made on things like who will win the World Series or who will get the MVP award.

As more details about ailments and form are known, the odds on futures bets modify as the event gets closer. One of the best ways to get the best odds is to bet on futures at the beginning of the season instead of in the middle.

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Tips on How To These Bets

Now that we have your attention, we’d like to provide some helpful hints for making the most of these various wagers. We think it’s great that when many bettors are exposed to this kind of wager freedom, they might feel enthusiastic about the new possibilities. However, it is possible that the enthusiasm with which they approach their newfound information will cause them to misuse it.

In light of this, we’ve compiled a set of guidelines to assist you increase your chances of success while placing any of these various wagers.

  • Don’t bet on something you don’t understand. Our guide explains each betting type clearly, but if you’re still confused, let us know, so we can help you out.
  • If you’re planning to make futures bets, you should know about liquidity issues. With futures bets, you won’t get your winnings until the end of the season or tournament. This means your money will be tied up for the entire duration of the event. So, if you’re not comfortable waiting, it’s best to avoid making futures bets.
  • Keep track of your results and focus on the types of bets that work for you. This applies to all types of bets, not just specific ones. Make sure to keep a record of your successes and failures with each type of bet. This way, you can figure out which types of bets work for you and focus your efforts accordingly.
  • If you enjoy making different types of bets, then betting with an online sportsbook may be more suitable for you. Online sportsbooks like N8 Casino have more options than traditional betting establishments. This is particularly true for specialized and prop bets.

Choosing the right online betting platform

Choosing the right online betting platform is crucial for a safe and enjoyable betting experience. N8 is a popular online betting site that offers a range of betting options including N8 games and N8 Casino. With the N8 app, you can easily place bets on your favourite sports or play your favourite casino games from anywhere. Downloading the N8 app also gives you access to exclusive N8 bonuses, making your betting experience even more rewarding. So if you’re looking for a reliable and user-friendly online betting platform, consider giving N8 a try.

FAQs

What is a moneyline bet?

A moneyline bet is a type of bet where you simply pick the winner of a game or match. There are no point spreads involved, and the payout is based on the odds of the team you pick to win.

What is an over/under bet?

An over/under bet, also known as a totals bet, is a type of bet where you bet on whether the total points scored in a game will be over or under a specific number set by the sportsbook.

What is a point spread bet?

A point spread bet is a type of bet where the sportsbook sets a point spread for a game, and you bet on whether the favourite team will win by more than the point spread or if the underdog team will lose by less than the point spread.

What is a parlay bet?

A parlay bet is a type of bet where you combine multiple bets into one. All of the individual bets must be correct for the parlay bet to be successful. Parlay bets offer higher payouts than individual bets, but they are also riskier.

What is a live betting or in-play bet?

A live betting or in-play bet is a type of bet where you can place bets on a game or match while it’s in progress. The odds for live betting change in real-time based on the current score and other factors, offering unique wagering opportunities for those who enjoy following the game live.

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