What is Online Sports Betting – Different kinds of Bets on Sports

What is Online Sports Betting and what are the different kinds of Bets to make on Sports
What is Online Sports Betting and what are the different kinds of Bets to make on Sports

These days online casinos offer sports betting where you place a bet or wager on a particular outcome in sport. There are various online sports to bet on like Cricket, Football, Soccer, Basketball, Tennis, Boxing, Hockey, Horse/Hound Racing, League matches and tournaments. These online casinos that offer such sports betting are online bookies or bookmakers or sports betting.

Sports betting could be a great option for you if you want to watch a sport and add that extra layer of excitement to the game. It’s also a good option to get a few hours of entertainment without risking cash. So if you’re in a casino, it can give you a great break from table action for a few hours while you enjoy the game.

One thing to note is that as sports betting online may not be legal in your country or state, so be sure to check out regulations in this respect before you start placing bets. The offshore gambling sites are the ones where you can easily place your bets on these bookies.

Placing Bet on Sports

Before you decide to place a bet on choice of your sports you need to find a reputed and good online sports betting site or casino.

Check that the gambling sports betting site or casino is legal with some gambling commission or repute.

Then register yourself at that online sports betting site or casino.

Next, choose the sport you wish to bet on and know what outcome you can get in that sport. Many bets are available across hundreds of sports, so you won’t be short on choice. You can bet on your favourite team or an individual in a sporting event that spans across many days, like golf. Remember each sport will have a variety of different bet types.

Now make a deposit at the casino or sport betting site at the cashier or deposit/banking page.

You need to understand the rules of the game and other terms and conditions attached to it before you make a deposit or wager on sports. You can deposit with an Aussie friendly methods like with your credit/debit/gift Card, POLi or other eWallets like Neteller or Skrill.

Now you can sit back, relax, and tune into the game or sport you’ve bet on to see if you’ll be a winner.

If you’re lucky enough to be a winner you’ll get payment automatically and your wins are there to your casino or sports betting account to redeem or encash.

Different kinds of Bets on Sports

The different kinds of bets you can make on sports
The different kinds of bets you can make on sports

At online bookmakers you will find many bet types in sports. There are literally thousands of different combinations of bets that you can make on all sorts of outcomes. Some of the few popular bets on sports are as follows:

1. The money line bet

This is the easiest bet to make in sports. This is a bet simply placed on the winner of the game. As the companies that run sportsbooks need to make money, they manipulate the payout odds in a game based on who is the favourite to win and who is the underdog. You’ll win more money back if you bet on the underdog and they end up winning, compared to the amount you’ll win if you bet on the favourite and they win

In Australia, a money line bet will be represented in comparison to just $1. So if the favourite is paying $1.50, then you’ll win 50c if you wager $1 on them, plus the $1 back. While the underdog is paying $4, meaning you’ll win $4 on a $1 bet.

2. The line bet

The line bet is also points spread. In this bet, each team will get a head start in points, essentially a handicap if they’re the underdog, and alternatively a disadvantage with points if they’re the favourite. So if the line were +6.5 and -6.5 in a game of American football, then the favourite must win by 7 or more points for you to win your bet. If the favourite wins by less than 7 points, a bet on the underdog will win no matter what, even in the event they lose the game by up to 6 points. This bet option is by far the most popular and it will even up payout rates so that you can lay a similar amount on either the winner or loser and receive a very similar payout rate. The payout is the same as a money line for the point spread bet.

3. The under or over bet

This type of bet is also the total bet. This is a simple bet which wagers on the total score in a game. So you take the score from both teams and combine them. You will find that there will usually be a particular value where you can go over or under this to try and win. Some sportsbooks also allow different totals to select which will again alter the odds and relevant payout.

4. Parlay bets

These bets are another popular bet type. These are also multi-bets. In a parlay, you bet on a series of outcomes in different or the same sports, in chronological order. You place a bet on the first outcome, then if you win that the winnings get into the next outcome, and so on.

If you’re betting on three or four heavy favorites in your parlay, then you can achieve a much better total win then if you just bet on them individually. Some of the most fun you can have in sports betting is by laying a weekend full of parlay bets across multiple sports. If you get lucky and get five or six outcomes correct in a parlay, you’re looking at a very big pay day.

Other bets

Bet365 sports betting

Besides these popular bets, there are many other types of bets like the proposition bets, referred to as prop bets for short, such as the first scorer in a game, or the first score type. You can also bet on margins in games, you can bet on the scores at the end of the quarter, period, or half, depending on the game you’re watching, and much more.

Note that sports betting can also incorporate horse racing betting although this is a little bit different. In horse racing betting you can wager on top-two finishes, top three, place bets, or each-way bets, quinellas, trifectas, box trifectas, and quaddies. You can make almost as many different types of bets on horses, or dogs for that matter, as you can on other popular sporting events.

One thing to make sure you look into is the different payout odds that different online sports betting sites have for particular sports. Read the sports betting casino reviews and do a bit of research to maximize your wins. As some sites or sports will offer better odds to win.

Many online sportsbooks

You’ll find a large number of online sportsbooks these days offering so many kinds of bets to place online on sports. Many sites also offer mobile gaming or app but few online sports betting sites still do not allow mobile to place bets on sports and rely on web or PC methods. So you need to check with the online bookie or ask their customer support team if you have any doubt.

At online sports betting sites odds and payouts online are generally much more generous when compared to physical sports books. This is because of the relatively low overheads that online casinos have when compared to physical ones.

Many online casinos also offer a generous welcome bonus and other promotions to place a bet on sports and you can take advantage of that too to increase your bankroll and play more.

About the author

Kamal Kaur