Let’s take a moment to understand in detail what a bet is before jumping straight into the article’s main topic, which are common types of bets beginners make. Basically, a bet is an agreement between two parties that will result in the loser paying a sum of money to the party that correctly predicts an event’s outcome before it occurs.
In today’s era, betting has grown to be a popular pastime as it is an effective way to earn tremendously and also many developed countries have legalized betting. If you are planning to become a bettor, but you’re unsure of how to begin, don’t worry because your dilemma will be solved here as this article addresses some common types of bets for beginners.
There are also many different events to be on, from NBA or horse racing events – like the Cox Plate for example and if you are interested in Cox Plate betting, it is super easy. It is important to clarify one thing regarding the word ‘bet’ because many people assume it is synonymous with match fixing. Betting is just a process of predicting the outcome of a game without interfering with it in any way. Match fixing and betting are totally different.
1• Moneyline Bets
It is widely acknowledged that moneylines are the most popular betting option for recreational players. Straight up odds are available on most sports betting markets. They require bettors to pick the outright winner of a competition.
With moneyline options, the price is the great equalizer, as no point spread is involved. Betting on the moneyline is a great option for beginners, as it is usually easier to just pick a winner. However, the main disadvantage of a moneyline bet is that payouts are usually minimal, unless you pick a major upset.
2• Prop Bets
Prop bets are fun wagers that don’t necessarily depend on the final outcome of the game and don’t often require on-the-spot knowledge of the game. Some informed bettors have an edge, such as the prop on who will be the first player to score a touchdown in an NFL game. If you know the trends of a team, you might be able to find value. The prop bet is an easy way for novice gamblers to dip their toes in the wagering pool.
There are many different types of parlays, but the teaser parlay is very popular. The lines are shifted slightly for the bettor’s payout. According to the amount of tease you have chosen, the entire line for each parlay game is moved. The larger the tease, the smaller the payout.
4• If and Reverse Bet
There is a type of wager that’s universally available at any sportsbook, which is if bets. When you make this type of wager, you are able to place two straight bets. If your first selection wins, the second one becomes a live bet or action.
If your first bet loses, the second bet will never become action. However, if you make a reverse bet, you are able to place two straight bets both ways. Your second wager will be placed if your first wager wins or pushes, or if wager two wins, place one wager.
5• Point Spread and Handicap Betting
There are many types of sports bets that you can place, but the most popular one is a point spread. In point spread and handicap bets, the team you are betting on can lose the game and you can still win your bet. These bets are a lot of fun but quite challenging for beginners since you can root for teams if you think they are going to lose.
Although there are several other common types of bets for beginners, in this short article it’s difficult to include all of them as all the bets types described above are the most popular types of bets for beginners. Let us know if we have missed other types of bets for beginners to include in our article, and we will be sure to include them in our next article.