Your cart is empty
Sports 20 July 2023
Understanding Sports Bets
Different Types of Sports Bets Explained
Table of Contents
What are the Different Types of Sports Bets?
Getting started with sports betting can seem a little daunting, from working out how to bet on sports to choosing the type of bet you want to place. The good news is that these different types of bets are not as complicated as they may seem at first glance. Indeed, we are betting that after reading this guide to the different types of sports bets you’ll be able to understand them like a seasoned pro!
The Different Types of Sports Bets
Win/Draw/Win Bet
Win/Draw/Win betting is one of the most common and popular types of sport bet. Its popularity lies in its simplicity, as it is one of the most straightforward bets that can be made. Bettors simply choose an event, a soccer match for example, and wager on the outcome of that event. In Win/Draw/Win there are only three options, either the home team wins, the away team wins or there is a draw. Sometimes you will see this referred to as 1x2 betting, where 1 represents a home team victory, 2 an away team victory and X is for a draw.
Asian Handicap Betting
Sometimes in sports a match-up is predicted to be so one-sided that wagering on the favourite will produce minimal returns. This is where Asian handicap betting attempts to level the playing field and balance the odds.
In Asian handicap betting you can elect to give either of the participants an advantage/disadvantage before the event begins. For example, in a football match you could give one team a -2.5 goal handicap. This would mean that they would need to win by three or more goals for you to win your bet. Alternatively, you could give the opposition +1.5 advantage. With this bet you would win if the team you backed wins, draws or even loses by one goal.
It is also important to note the distinction between Asian handicap betting and European handicap betting. In Asian handicap betting your bet is a winner if it results in a draw. Conversely, in European handicap betting if your bet ends in a draw you lose.
Accumulator Bet
The key to this bet is the name! The basic premise is that the more single bets you add to your bet the more the odds will accumulate. This type of bet is sometimes used to improve the payouts of multiple events where betting on the favourites individually offers low returns. By grouping these types of bets together the odds will lengthen, but so too will the risk.
What is interesting about Accumulator Bets is that you can fashion a bet that has extraordinarily long odds. By collectively betting on 10, 15 or even 20 events you might find that the potential payout could be astronomical. Some punters enjoy taking a small position on such bets, but it is important to treat these with caution – the odds are long for a very good reason!
Bet Builders
A relatively new addition to the betting scene, bet builders have become incredibly popular addition to sports books in recent years. They are similar to accumulators in that they require you to bet on several different outcomes. However, the big difference is that while accumulators generally focus on the results of numerous different events, Bet Builders focus on combining numerous bets from the same event.
Usually, a Bet Builder will bet on at least three different events. These are as varied as you may expect. For example, in a football match you may bet on over 2.5 Goals, the winner, the total goals scored by both teams or one team and much more. Similar to accumulators, grouping these individual bets together does help to improve the potential payouts. However, as always, the more events you include in your bet means that there is more possibility for things to go wrong!
Double-Chance Bet
Double chance bets are a way for punters to hedge their bets. For the unfamiliar, “hedging bets” is a term that means minimising you loses by betting on different outcomes simultaneously – and this is exactly what a double chance bet will do for you.
In Win-Draw-Win bets you have one way to win and two ways that your bet will lose. If you bet on a team to win and they lose or draw, then you have lost. In Double Chance bets you can hedge by betting on a team to win or the event to end in a draw with the same bet! In this way you have double the chance to win, hence the name. Whilst this bet does give you present you with two different ways to win, you should also know that hedging your bets in this way is always going to result in shorter odds than in the traditional Win-Draw-Win versions.
Ready to Rumble!
The five different types of bets listed here are among the most popular types of sports bets in the world. In truth though, there are that there are countless more different types of bets that you can place on sports – far too many to list here. However, we do hope that having read this short guide you will be feeling much better equipped to tackle sports betting on Lottoland! Good Luck!
T
by
Thomas
What I Cover: I am always intrigued to discover how lotteries from around the world can seem so different. Thanks to this interest, you will find me writing about the histories, traditions and records of lotteries from every corner of the world!
I am also an avid sports fan, so from time to time I will also cover in-depth guides to help you understand how sports betting works.
My Background: I have been working in the industry since 2020. In that time I have written countless articles related to lotteries, sports, casinos and the history of gambling.
Journalistic Ethics: My role is to help you navigate the world of lottery and sports betting with as much ease as possible. This is why you will find my articles informative, accurate, up-to-date and helpful.
Contact Me: I'd love to hear from you! Leave me a comment under any of my articles and I will reply as soon as I can!
