Handicaps - is a type of a bet in which the bookmaker gives a disadvantage to the favourite or an advantage to the theoretically weaker team. In case of football, this is done by adding or removing goals from particular team to even the chances of victory for both sides. There are two types of handicaps - European and Asian.
Chance is a bettor’s friend. Outside sports betting, percentage terms are more commonly used when referring to it. Just take a look at a coin toss for an example. If you toss a coin, there is a 50% chance that it will land on heads and a 50% chance of it landing on tails. Any possible outcomes will always sum up to 100%. To complicate things a little further, let’s use a six-sided dice as an example. If you roll the dice, there are one in six chances that a particular number will come up. The chance in this scenario can be expressed as 16.66% [(1/6)100 = 16.66%].
Meanwhile in sports betting, odds represent the same principle. Odds are basically the reflection of the probability or chance of a particular outcome in an event. Bookmakers establish prices or odds that will reflect the chances of an outcome taking place. Most online bookies provide you with the choice of which type of odds you want to utilise.
If you have tried betting on the best bookmakers online, you know that there are three types of odds that you will encounter. Europeans are more familiar with decimal odds (i.e. 2.00). On the other hand, US bettors are more familiar with fractional or US odds. It is also important to note that some bookies feature US odds without the option of conversion to decimal odds. Consequently, it can be quite difficult to calculate the odds, especially if you’re eager to use your betting bonus codes. So take your time to read the explanation of different odds below so you can gain a better edge on betting.
NOTE: This type of teaser never reduces. If one of the wagers results in a tie, the whole teaser will be considered a loss. If one of the picks is graded 'No Action' (e.g., a rained-out game) and the rest of the picks are winners, the whole teaser will be graded 'No Action' and will be refunded. What is a Betting System? It is a so-called strategic plan prepared after a study of prior wins and losses, and is supposed to increase player’s chances of winning more bets in less time. Let's start from the basics. There are three different types of betting systems in practice. The Asian Handicap Betting system is a special type of wagering that is becoming increasingly popular across Europe, for wagering on football matches. The basic principle of the system is that all wagers.
Decimal Odds
Instead of using percentage terms, bookmakers use decimal odds. Often referred to as European odds, decimal odds are most widely used by sports bettors in Europe, Australia and Canada. They are quite simple to understand, which is also the reason why they are a favourite way of representing of odds across the world.
It’s quite easy to calculate your potential winnings with decimal odds. It involves multiplying your stake by the odds. Here is a simple formula for decimal odds:
Potential Payout = Stake x Decimal Odds
Before you use your bookmakers no deposit bonus, take a look at the examples below to gain a better understanding of decimal odds.
Let’s say you’re placing a bet on a team with winning decimal odds of 1.82. If you place a £69.55 wager, then the potential return on your bet will be £126.58. Keep in mind that this calculation includes your original stake of £69.55, so your actual net profit on this winning bet would be £57. Simply put the calculation will be:
Potential Payout (£126.58) = Stake (£69.55) x Decimal Odds (1.82)
Always keep in mind that when you use decimal odds, your original stake is included in the calculation of your potential winnings. Hence, when you calculate your potential winnings, always remember to account for your original stake to determine your potential net earnings.
2.0 is the breakeven odds for decimal odds, since these will simply double your stake. If the decimal odds are lower than 2.0, then your potential winnings will be lower than your stake. On the other hand, if odds are higher than 2.0, then your potential payout will be higher than your stake.
Fractional Odds
Also known as UK Odds, fractional odds are more widely used in the United Kingdom and Ireland. This odds format was initially used in horse racing. Needless to say, it is one of the oldest types of odds that long-time bettors are familiar with. Just take a look at the best online bookmakers in the UK and you will see that most of them feature fractional odds.
Like decimal odds, fractional odds are quite easy to calculate simply because they are in fraction form. The second number to the right, or the denominator, is the bet amount while the first number on the left, or the numerator, is the amount that your bet will yield. Let’s say you wagered on a team with 10/15 fractional odds. This means that for every $150 bet, you can potentially earn a $100 net profit. If your bet wins, you get $250 ($150 original stake + $100 profit). Simply put the calculation says:
10/15 Fractional Odds: $150 to win $100 = $250
The slash (/) in fractional odds may also be represented by a colon (:). For instance, for a 4:1 (also referred to as ‘four-to-one’) odds, the bettor has to wager £100 to make a £400 profit. On the other hand, for 1:4 odds, you would win £25 on a £100 wager. In fractional odds, this simply means you’d have to divide the value of your wager to the value of the denominator to determine how much you can potentially win.
If you want to know how to convert fractional odds to decimal odds, you will be happy to know that the process is also simple. For example, for 4/1 or four-to-one fractional odds, the decimal odds would be 5.00:
4/1 = 4
4+1 = 5.00
US Odds (Moneyline Odds)
Also known as ‘moneyline odds,’ US odds are mainly used by sportsbooks that cater to bettors in the US. US odds are probably the easiest to comprehend since the odds are represented by the amount that the bettor will have to wager to win $100.
Depending on the bookmaker, you will find two basic types of ‘picks’ – the favourites and the underdogs. When you look at sports betting live odd comparisons, you will see that the favourites are identified with a minus (-) symbol. Better chances of winning are present when the absolute value of the number is higher. For example, a -250 favourite has a better chance of winning compared to a -200 favourite. On the other hand, the underdogs are identified with a plus (+) symbol.
$100 is always used as a baseline for US odds. It also means that in favourites, you are required to wager the provided odds to win $100. With underdogs, on the other hand, you have to wager $100 to win the provided odds. For example, if you bet on a -135 favourite, you must wager $135 in order to win a net profit of $100. On the other hand, a +350 underdog will require you to wager $100, but you’ll have a net profit of $350.
To convert US odds to decimal odds, simply use the formulas below:
Decimal = (Positive US + 100) / 100
Let’s say you’re betting on +150:
Decimal = (150 + 100) / 100
Decimal = 250/100
Decimal = 2.5
Decimal = (Negative US + 100) / Negative US
Types Of Betting Systems
Let’s say you’re betting on -120 (ignore the ‘-‘ on your calculation)
Decimal = (120 + 100) / 120
Decimal = 220/120
Decimal = 1.83
Converting Odds
To give you a comparison of the values of the different odds format, take a look at the table below.
| Decimal Odds | Fractional Odds | Moneyline (US) Odds | Win % (% needed to break even) | Net Profit |
|---|---|---|---|---|
| 1.01 | 1/100 | -10,000 | 99.01% | 1.00% |
| 1.11 | 1/9 | -900 | 90.00% | 11.11% |
| 1.33 | 1/3 | -300 | 75.00% | 33.33% |
| 1.50 | 1/2 | -200 | 66.67% | 50.00% |
| 2.00 | 1/1 | +/-100 | 50.00% | 100.00% |
| 3.00 | 2/1 | +200 | 33.33% | 200.00% |
| 4.00 | 3/1 | +300 | 25.00% | 300.00% |
| 10.00 | 9/1 | +900 | 10.00% | 900.00% |
| 101.00 | 100/1 | +10,000 | 0.99% | 10,000.00% |
Understanding betting odds can be quite complicated. That is why it is good to know that there are established as well as latest online bookmakers with odds conversion capability depending on your preference. Browse through HitYah’s sportsbooks to discover the top bookmakers online.
Understanding the Different Types of Sports Bets and How to Use Them
One of the first revelations anyone new to sports betting has is that you can bet on a lot more than the winner of a game. This typically engages a rush of excitement quickly followed by an even bigger rush of confusion. New bettors are excited at how expansive their new landscape is, but then quickly realize that they have no idea what they are doing. This usually results in new bettors running from the book with their tails between their legs because they’re lost and not sure how to proceed.
Thankfully, we’re here to help untuck your tail, clear up the confusion, and send you back to the sportsbook radiating with confidence. Whether you’re brand new to betting or just someone looking for a refresher course, you’re in good hands. We’re going to take the time to walk you through every type of sports bet that is available to you. We’ll tell you how the bets work, tips and strategies you need to know for each, and how you can utilize them in your sports betting strategy.
We’ll then walk you through some additional need-to-know tips and strategies to help you utilize this new information properly. Ideally, when you get done with this guide, you’ll have full command of the different types of sports bets at your disposal. You’ll know how they work, the advantages and disadvantages of each, and most importantly when and how to use each type.
If you’re ready to get started, grab a pen and paper, buckle up, and let’s get to learning!
Types of Sports Bets
When most people first get started in sports betting, they usually think it’s only about picking the winner of a game. Most of them don’t realize that that is only a small portion of the betting options you have. Nowadays, thanks to the growth of the industry, you can bet on pretty much any aspect of a game or sport that is measurable. This betting flexibility is not only awesome from an entertainment standpoint, but it provides a lot of great opportunities for you to make more money with all of your predictions.
To help get you started, we’ve compiled a list below of all of the types of sports bets that you need to know. Take the time to read through each of these guides and make sure you fully understand each bet type that is available to you. Whether you choose to use all of these or not, it’s important to know what exists in case you run into some knowledge that can make you some money with a bet type you don’t normally make.
Types of Bets
Betting Flexibility – Why Different Bets Are Important
We mentioned the term “betting flexibility” once already, but we really haven’t gotten into what it means and how it affects your sports betting strategy. In the old days, your only option was betting on the winner of the game. This meant that if you had knowledge or a prediction that did not directly affect who the game winner would be, it was worthless.
If you had a prediction that a certain player was going to do well but you weren’t sure how it would affect the final score, it was worthless. If you knew the game was going to be super high-scoring but had no idea who the eventual winner would be, it was worthless. Sports betting in the old days lacked flexibility. It was a rigid system where picking winners was your only option.
This all changed, though, as technology and the internet helped the sports betting industry to grow and evolve. You now have the ability to bet on pretty much anything that can be measured during a game, match, fight, or season. While this obviously adds a new layer of fun and excitement to betting, it also adds new money-making opportunities.
For exampleLet’s say that you believe that a game is going to be exceptionally high-scoring, but you have no idea who is going to win the game. In the past, that information did you no good. Today, though, you could bet the over on a game and cash in on your prediction. What about if you think that a certain player is going to have a big game, but you don’t know if the team will win? Again, in the old days, this was worthless. Today, though, you could place a prop bet on that certain player to have a big game.
If it’s football, that might be on how many touchdowns, catches, yards, or completions they have.
If it’s basketball, it might be how many points they have. These prop bets exist now in almost every sport that wagering is offered on.
This flexibility not only ups the fun factor for recreational bettors but increases the avenues you can take as a serious sports bettor to make more money with your knowledge and predictions.
Complexity Does Not Equal Profitability
One of the worst things that you can do is start making new bets just because you feel like you have to. Here’s something you have to know: the complexity of the bet type has nothing to do with the likelihood that you’re going to win the bet. In fact, the more complex the bet is, the less likely someone is to win it based on the fact that more people aren’t going to understand what they are betting. Regarding the odds, though, it will not be different.
You do not receive super-secret special odds when you make a more complex sports bet. You can be a successful professional sports bettor and never touch anything but a simple moneyline bet or a spread bet. In fact, a large chunk of professional gamblers do just this. Instead of focusing on using complex bet types, they focus on making great picks with the simplest of bet types. The money from those simple bets is just as real as the money you get from an overcomplicated sports bet.
The point we are trying to make is that you don’t have to use all the different bet types just because they are available. If you have an instance where you need to use them, go for it. Or, if you just happen to need them constantly for your particular betting strategy, that’s okay, too. As long as you aren’t forcing different bet types just to mix things up or because you think it does something special for you.
You see, a lot of sports bettors get wrapped up in the “looking and sounding cool” side of sports betting. They think that walking the walk and more importantly talking the talk will somehow make them more likely to win. They seem to get a rise from spouting off the complex and tricky bets that they’ve decided to make. They discuss crazy parlay bets and wild props strung together in a way that confuses anyone listening. Confusing their audience makes them feel like they are smarter and a cut above everyone else.
Types Of Betting Pools
The problem, though, is that only makes you look cool for so long. Eventually, if you’re not winning, you’re going to have to confess that you don’t have any idea what you’re doing. People who truly understand sports betting are not impressed by the people that can talk the talk, but more by those who can show winning results. If all you make are moneyline bets and you are crushing, you’re going to be a superstar in our book.
NoteIn reality, it doesn’t matter what anyone else thinks of you. All that matters is that you’re making smart bets and winning.
Make Sure You Fully Understand Things Before You Bet
For those of you that do choose to utilize this betting flexibility, it is imperative that you fully understand the different bets that you are making. The worst thing that you can do is make a bet that you aren’t completely sure how it works. Additionally, you need to check with the betting sites you are wagering with to make sure they don’t have any special rules that you aren’t aware of. This is usually more for the prop bets, parlays, teasers, and pleasers. 99.9% of sportsbooks in the world are going to treat moneyline bets, spread bets, and totals bets the exact same. The other bets will usually be treated the same, but we have seen some instances where things were different specifically when it came to how they treated ties.
Just as we advise you never to bet on a team that you aren’t an expert on, you shouldn’t be placing bet types that you don’t fully understand. This is like a surgeon doing surgery with tools that they don’t know how to use. It’s dangerous, and it’s going to cause problems. Luckily, you won’t kill anyone by incorrectly using bet types, but you will most likely put your bankroll on life support.
It doesn’t take you long to get acclimated to the different types of sports bets available to you. There really aren’t that many, and most of them aren’t that complex. We’ve provided all the information and resources you need in the sections above. You just need to take the time and put in the effort to advance your sports betting career. A good foundation of knowledge is the key to being successful in the industry.
How to Choose the Right Bet Type: Predictions Before Bets
The age-old question of which came first, the chicken or the egg, has plagued intellectual thinkers for years. The not-so-old question of which comes first, the bet or the prediction, is one that shouldn’t be plaguing anyone after you get done reading this section. You see, many sports bettors plan their bets out starting with the bet type. They’ll usually say something to the effect of, “All right. I’m probably going to bet the spread on this next game… Not sure which side I’m going to take yet… Need to do some research first.”
The problem with this is that it can lead you to make the wrong type of bet and you can miss out on some other bet types that might be profitable. Your better course of action is to predict everything you can about the game, including the score, the chance of winning, how the game flow will go, and which players will excel. Once you have all of this information, then you should be looking at what types of sports bets you should be making. You may find that the original type of bet you wanted to make is not optimal for the predictions you have.
Types Of Betting Blocks For Football
The Wrap-Up
By now, you should feel much more confident about stepping into (or logging into) a sportsbook to place some bets. Remember, betting flexibility can help your bottom line immensely as long as you utilize it properly. If you’re content keeping it simple and sticking to one or two bet types that you like, awesome. If you’re someone who likes to mix things up and has a lot of predictions that require that flexibility, awesome.
The takeaway is that we want you to choose the bet types that work best for you. Find the strategy that gives you the biggest edge and the best chance to turn a consistent profit. Remember, you can always bookmark this page if you want in case you want to get into some other types of sports bets down the road. Whatever you do, make sure that you fully understand the bets you are making and what you need to accomplish for those bets to pay off. There is nothing worse than making a bet with great information and losing because you accidentally made the wrong type of bet.