Types of Bets Explained – Learn About the Different Bets

A guide to types of bets. Find all you need to know about the different types of bets and how to choose the best one for you.

The best sites for online sports betting in the Philippines offer a wide variety of bets to choose from. The sheer amount of variety can be overwhelming for players of all ranks, beginners or not. But to boost your chances of winning big, you should really get familiar with all the common types of bets there are.

In this article, we will walk you through the various bet options you may come across, along with some practical examples. Additionally, we’ll give our top tips on how to select a bet type that suits your needs. Stick around until the end, where we have answered some of the most common questions about sports betting in the Philippines. 

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Common Types of Bets

Online sportsbooks have numerous types of bets available to Filipino punters. All popular sports to bet on like soccer, volleyball, or basketball have a variety of options. And, of course, there are plenty of bets that suit the more niche sports, too. We’ve compiled a list of the most popular types that you need to know about. We highly recommend that you take the time to learn about each one, especially if you’re just getting started.

Win/Money Line Bets

Win bets, also known as Moneyline bets, are a popular type of sports betting where you wager on a team to win. This is a bet with no point spread. In other words, regardless of how much the team you bet on wins – if they do then so do you. This type of bet is very common because it is, indeed, very simple. Moneyline can be applied to virtually any sport out there, but it is especially popular when it comes to basketball events. However, it can be tricky to choose aside. 

Let’s look at an example:

The Los Angeles Lakers are playing against the Golden State Warriors. If the sportsbook has set the odds at Lakers (+102) and Warriors (-120), the bookmaker is predicting a win for the Warriors (favorite). Most people would bet on the Warriors, as the chance of getting a profit out of it, albeit rather small, is higher. But if you take a risk and bet on the Lakers (underdog), if they win your profits will be significantly higher.

Straight Bets

The straight bet is another common type. In this case, you bet on a single game either with a point spread or money line. For this type of wager, a betting line is set and you can choose to bet on the favourite and give up the points or bet on the underdog and win the points. 

The favorite must win the game by more than the pre-set point spread in order to cash in a profit. On the flip side, the underdog must win outright or lose by less than the point spread to win the bet.

Total and Over/Under Bets

The totals or over/under bets are many punters’ favorite because they are easy to understand. In addition, players can easily calculate the total score of the game by adding the scores of both teams. This type of bet has a half of a point added to the end to avoid push situations.

For example, you bet on soccer between Manchester United and Liverpool, where the over/under is 2.5 points. In the case where both teams score, a combined total of 3 points or more, then the bet wins.

Over and Under Bet

Parlays/Accumulator Bets

Parlay or Accumulator bets are a bit complicated. With the parlay bets, you choose a string of picks in a single wager. The betting odds on a Parlay payout depend on the total number of picks that you group together. Note that each selection you make on Parlay must be correct for you to win. 

Let’s take a look at an example where you are betting on horse racing. You may choose to place an accumulator bet on the winners of some six races. However, all your selections must be accurate to win the wager. If even one fails you lose the bet.

Teasers/Pleasers Bets

Teasers and pleasers are basically advanced versions of accumulator bets. They are similar to parlays in that you must make multiple selections. However, both these types have unique characteristics that are worth noting. The point spreads or totals are moved in our favor in the teasers, but against us in pleasers.

Point Spread/Handicap Bet

The main idea behind the point spread and handicap bet is more or less the same. However, let’s look at a separate example for either. For instance, let’s say you select three soccer teams to add to a teaser. The odds are as follows: Chelsea +3, Liverpool -4, and Arsenal +11. If you choose to do a six-pointer teaser, it means that the spreads will each move six points in your favour. Teaser bets by nature have bigger odds which is what makes them so popular.

Pleaser bets, on the other hand, are the opposite of teaser bets. If you use the above example where you select three teams and put them in a six-point pleaser, the spread for each selection will also be shifted six points but this time against you. So, to beat the pleaser bet, you need to beat the original spread by a significant margin.

If Bets and Reverse Bets

If and reverse bets are some of the hardest wagers to understand in sports betting. With the if bet, you make a selection following a specific order. The outcome of the first selection tells whether any subsequent selections are active.

On the other hand, the reverse bet combines multiple if bets covering your selection in every possible order. It should be noted that your initial stake is multiplied by the number of possible orders.

Head-to-Head Bets

These types of bets are very popular with Nascar and golf punters. The Head-to-Head bets are exactly what they sound like. You will be betting on an individual over the other to finish first in the competition. There is also a money line linked with each player that partakes in head-to-head betting. The main alternative for this bet is to wager on the overall winner in an event.

Proposition Bets and Specials

Proposition bets are quite different from the standard sports wagers. These types of bets can be on just about anything. A good example of a proposition bet is wagering on the team you think will score the first goal in a match. The best thing about this option is that they provide great opportunities for making informed decisions.

Futures and Outright Bets

Futures and outright bets mean the same thing in the online sports betting world. With these wagers, you will be betting on the overall winner in a tournament or league. What’s unique about this bet is that you make selections in advance of the actual sports event. For example, you can choose to bet on the winner of the NBA even before the next tournament begins.

Permutation Bets

Permutation betting is notorious for being one of the most complicated wagers to understand. It requires players to make multiple picks and place many bets by combining the selections. Unlike accumulators, even if some of your predictions weren’t correct you can still win some money. We don’t recommend it to beginners as it might be confusing and hard to execute.

Types of Bets for Sports

Other Types of Bets 

Now that you know about the most commonly available types of bets, let us look into a few more. Although it’s impossible to go through all options at once, here are just a couple of the less popular and yet somewhat common variants:

Grand Salami Bet – The Grand Salami is a type of parlay bet. It is designed for baseball and basketball bettors and it involves selecting the over/under for the total lines in all games that are played on a specific day.

Both Teams to Score – This type of bet requires you to predict whether both teams will score in the match. However, the bet will be unsuccessful if only one team scores a goal.

Double Chance – The double chance bet is much safer and requires you to select one of three options – win for the home team, draw or win for the guest or a win for either of the teams.

Run Line Bet – The Run Line is a baseball bet that works like a point spread. Since the spread is always 1.5 runs, the run line is not necessarily a 50/50 proposition.

Puck Line Bet – The puck line bet is similar to the run line, but it’s for ice hockey. The point spread is also 1.5 points, like the run line bet. 

Correct Score Bet – The correct score bet is popular for soccer matches. It involves predicting the exact score that a game will have. Although it is difficult to get the correct prediction, the possible payouts are very appealing.

Exchange Bets – The exchange bets are made between some of the leading sportsbooks in the world. In this case, players are allowed to bet for or against an event.

Sure Bets – Safe or sure bets are wagers that guarantee a profit, regardless of the outcome of the match. The secret here is to take advantage of the difference between the odds of different sportsbooks to bet on the outcome of the same match.

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Choosing the Right Bet Type

Online sports betting can be a fun-filled and profitable activity if done in the right way. If you’re a beginner you have come to the right place. Here are some of our top tips to help you choose the right bet type for you.

  • Make sure you do a thorough research on different types of bets beforehand. Understanding how each one works is crucial.
  • Check out the betting odds of each selection before you pick the one to back. If the odds don’t look good enough, it’s worth looking at what other sportsbooks have to offer.
  • Compare the odds of your bookie with other sports betting sites. Needless to say, if someone else has better odds – switching operators is a great idea.
  • Never stop learning if you want to make long term profits. Keep up with the news, sports statistics, and new strategies.
  • The complexity of the bet does not equal a high probability of winning. Sometimes less is more and the simpler bet can bring in lots of cash.

Conclusion

Now that you’ve learned more about some of the most popular types of bets out there, you’re ready to begin your journey in the world of online sports betting. Hopefully, with our handy tips on how to select the right bet type, you can make an educated decision. The kinds of bets we went over together work for virtually any sport. All that’s left is to pick a sportsbook if you didn’t sign up for one yet. Have a look at our library of betting site reviews and you will be sure to find a great match for your needs. We only recommend the best ones on the market, so our top picks are a great place to start.

FAQ

It’s better for beginners to stick to more basic types while learning how sports betting works. Moneyline, spread, win, and over/under wagers, are some of the best choices in that case.

The amount to put on a wager will be based on a number of factors, but ultimately it’s all up to you. When making a decision, keep in mind the type of bet, the risk factor and the size of your bankroll.

You don’t have to place all these types of bets if you don’t want to. Find the ones that you are comfortable with and work for you.

No, rarely that is the case. The type and number of bets will vary from one sportsbook to another. Check what options your bookie provides and go from there.

There are several bets that are considered a risk in online sports betting. Parlays, teasers/pleasers, if bets, reverse and permutation, for example, are a risk. That is because they require you to make more than one selection.

Some of the most popular types include straight bets, money line bets, handicap and head-to-head bets.

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