Betting on sports is a thrilling and fun pastime which has been popular among people ever since ancient times. And while it’s true that nor everyone loves sports or betting on sports, there are quite a lot of people all over the world that do love it. Online sports betting covers a multitude of activities and can refer to any type of bets on sporting events. And there are many different types of bets available online for different sports in betting. These different types cater to the different tastes and skills of bettors. Here are some common types of online sports bets to help you understand how to create action when wagering on sports.
Fixed Odds Sports Betting
Fixed odds bets are the most common and popular type of bets in sports betting. Simply put, this type of wager is where a bookmaker offers odds on a specific outcome in a match or an event. It offers a simple win/lose scenario where if you win you get the odds and in case of a loss, you lose your stake. The three types of fixed odds bets are: Odds on bets, Odds against bets, and even odds bets.
Live Sports Betting
Live sports betting is fundamentally similar to traditional sports betting. The main difference is that in live or in-play betting, you place bets on sporting events while they’re taking place. Another difference is that live betting has many additional bets than traditional betting. Also, in live betting, the odds are constantly changing. You can bet in tournaments like NHL and NBA live betting or you can bet on individual games and teams like in football or tennis.
Spread Betting
Spread betting is less about betting on the outcome of the game in question and more about how accurate your bet is. Here you can also bet on whether a team can outperform the odds or not. Spread betting is available for more sports and events than traditional sports betting. You can win large sums of money in a single spread bet. However, you can also lose a big amount in the same way.
Exchange Betting
Exchange bets do not involve a bookmaker and are usually handled in betting exchanges. A betting exchange allows its members to bet against each other rather than a sportsbook and takes a small commission on winning bets. This means that along with the option of backing a selection in your bet, you can also lay a bet. Laying means you are betting on a selection to lose.
Daily Fantasy Sports Betting
Daily fantasy sports have completely revolutionized sports betting and are quite popular among sports lovers. Fantasy sports allow the players to create virtual teams of real professional athletes from a particular sport. The participants can compete against each other or play in leagues and tournaments with their teams. These teams can be changes daily, weekly or monthly and you can win real money prizes in the matches. With its growing popularity, it’s possible to make big money in playing DFS and often from a very small stake.
Pari-Mutuel Betting
The term ‘pari mutuel’ literally means ‘mutual betting’ in French. This unique form of betting is also known as pool betting is quite popular since ancient times. Here you don’t bet against the bookmaker.
Instead, you place bets against other bettors wagering on the same event. All these bets go into a betting pool which is equally shared by the winners. The bookmaker takes a small percentage of commission from the pool winnings. Unlike some other types of sports betting, pari mutuel is completely legal in almost all over the world.