Betting has become an increasingly popular form of entertainment due to the rise of online sportsbooks. You can now make various bets ranging from simple singles to complicated parlays or accumulators. It makes the betting process more exciting and provides more options for those who want to bet on sports online. However, you need to understand the different types of bets available to make an informed choice. Below, you will find everything you need to know about the different types of bets available in online sportsbooks.
Types of wagers: singles, multiples & systems
With online sportsbooks, you can make various wagers ranging from single bets to multiples and accumulators. Below, we go through each of these wagers, available in the Lotta Bet sportsbook.
- Singles: A single bet involves picking one selection in an event and betting on only that result. This type of bet is the simplest and most straightforward to understand.
- Multiples: A multiple is a set of selections on which the gambler is betting. Multiples are made up of two or more selections from different events that must win for the bet to be successful. These types of bets can be tricky, as all selections need to come through for you to receive a return.
- Systems: A system is similar to multiples but allows multiple outcomes from one bet. This type of wager involves selecting several selections in different events and specifying the number of correct outcomes required to collect returns on the bet. Systems are generally used in systems of three, four, or five selections.
Of course, other types of bets are not listed here, such as round robins, teasers, and prop bets. These all have different requirements and can be used in specific scenarios depending on the sportsbook you choose to use.
Markets in online sportsbooks
Online sportsbooks offer a variety of markets in which to bet. Most online bookies offer major betting markets like match winners, race horses, or over/under, but others may vary by the kind of sport and the sportsbook you use. The most common markets are:
- Match winner. This involves betting on which team or player will win a particular match-up. It is one of the most popular markets and is available across all sports.
- Handicap betting. This market involves assigning a hypothetical advantage or disadvantage to each side in the match-up based on the current form, conditions, and other factors, such as home-court advantage. The handicap will be added to or taken away from a team’s score, which can affect your bet depending on who you pick as the winner in some cases
- Total points/goals scored (over/under). This gives gamblers two options: bettors can back a team or over/under a certain score, depending on the sport. This market is often considered less risky than other markets, as there are only two possible outcomes for you to win money.
- First-half/first-period markets. This is also known as an in-play bet, where you can wager who will win the opening part of the match. These kinds of bets tend to be more exciting and provide better value due to less risk involved than traditional full-match betting.
- Correct score. In this type of bet, gamblers try to predict the exact outcome or score in a particular event – often very difficult but potentially rewarding if successful!
As you can see, there are a variety of markets you can bet on when using online sportsbooks. It is important to note that different sites may offer different options or odds for each market, so it’s worth comparing several bookmakers before placing your bets.
Live betting vs. pre-match betting: features and differences
Online sportsbooks offer both live betting and pre-match/early bets. Live betting, as the name implies, is done while an event takes place and offers many advantages to punters looking to get in on the action. This type of betting allows punters to make bets based on real-time events and gives them a better chance of making accurate predictions, as they can monitor the game and react to changing circumstances as they happen.
Conversely, pre-match wagers are placed before the event has started or at least a few hours prior. This type of betting is considered more reliable as the bettor can assess the match-up and make more informed decisions before wagering. Also, the odds for pre-match wagers tend to be more fixed and don’t fluctuate as quickly or drastically compared to live bets.
Both options offer a combination of excitement, increased chances for success or loss, and rewards. It comes down to the individual punter’s preference regarding when they wish to bet and what types of wagers they are comfortable making.
Placing a bet: step-by-step
Placing a bet on an online sportsbook is relatively simple. Many sites provide detailed information about the process, so we’ll stick with the basics here.
- Log in to your chosen site and navigate to the relevant market or event you want to bet on
- Choose which selection(s) you want to back by clicking their names or buttons associated with them
- Specify how much of a stake (amount of money) you wish to put down for each wager
- Submit your selections and confirm the bet – often, there are confirmation boxes or warnings about the amount and type of wager that you have made
- Once your selections have been accepted, you will receive a receipt that confirms the details of your bet. This should also show you how much winnings (if any) would be paid out in relation to that particular bet
And that’s all! It generally takes no more than a few minutes to place bets online at sportsbooks, so long as your account is fully funded with the necessary funds. Good luck with your betting endeavors!