A Brief Guide to the Different Types of Sports Betting
Experts predict the sports betting industry will grow by USD 106.25 billion between 2020 and 2025. This enormous figure highlights the flourishing popularity of this leisure activity, and you may be thinking of getting involved to try and make some extra money while you watch your favorite sports.
But what are the types of sports betting available today? If you’re going to place a wager, it’s a good idea to know your gambling options to allow you to make the decisions that are most likely to be profitable.
While there are many betting types, we’ll have a closer look at 4 of the most popular ways to gamble.
Keep reading to learn more.
When learning how to place a bet, a moneyline wager is the simplest option. The only thing you need to choose is which team or individual will win the sporting event you are betting on, with no other variables to consider. This makes this wager an excellent betting for beginners’ starting point.
Over/under sports bets are also quite straightforward and a bookmaker will usually set a number related to the scoreline of a game. For example, in volleyball betting, the bookie could say that the one team will score a certain number of points. You then wager that the actual score will be more (over) or less (under) than the bookie’s choice.
This type of bet can be fun, but you may need to know a bit more about your chosen team’s form to ensure your gamble stands a reasonable chance of success.
Point Spread Bets
Another of the most popular ways of betting on sports is to gamble on the point spread. Simply put, a bookmaker will state if they think a team will win or lose by a specific margin. For example, they could say a basketball team will win by a point spread of 10. This means they are wagering that the team will win by 10 points or more.
If you think the bookie is correct, you will bet on that team. But, if you think the other side’s players will win, or lose by less than 10 points, then you would bet on them.
Although this sounds a bit more complicated, it isn’t as difficult as it may seem.
If you are looking for bets with large payouts, futures wagers could be for you. This involves gambling on the winner of events such as a tournament or league, often well before the competition begins.
While the payouts are high, this is because it is much harder to pick a winner before the season has even started.
Experiment With the Different Types of Sports Betting
There are many types of sports betting for you to enjoy as you attempt to make some extra cash while you chill out watching your team. If you are just starting out, moneyline bets are a good choice, while futures gambles can be much more lucrative. You could also make a profit on the point spread and over/under bets if you have an inkling of how well your team will perform in a given game.
Just remember not to bet too much until you are confident using the various betting styles.
For more helpful tips, check out our Entertainment category before you go.