Types of Sports Bets

Last update at 27 October, 2023

In sports betting, a variety of bet types abound, each offering unique opportunities and challenges. It can be a bit tricky to wrap your head around all the types of bets when you are just getting started with it. So, for your convenience, we’ve brought forth this guide, shedding light on the different types of sports bets available to bettors.

Various Types of Sports Bets

From simple 1×2 bets to complex ACCAs, long-term wagers, and Handicaps, sports betting offers a multitude of bet types. So, understanding these variations is essential for successful betting.

1. 1×2 Bets (Win/Draw/Win)

Explanation: These are the most straightforward types of bets, wherein “1” represents a home win, “X” refers to a draw, and “2” corresponds to the away win.

Example: In a soccer match between Liverpool and Arsenal held at Anfield stadium, the former will be considered “1” because it’s the home team, while the latter will be “2” as it’s the away team. So, if you choose “1,” you’re betting on Liverpool to win. But if you select “2,” you’re betting on Arsenal to win. In case you opt for “X,” you’re betting on a draw.

Appropriate When: You have a clear favorite or underdog in a match.

2. Accumulators (ACCAs) or Parlay

Explanation: It’s a type of bet where you combine multiple bets into a single wager for higher odds. All selections must win for the bet to pay out.

Example: You place an ACCA bet on Los Angeles Lakers, Boston Celtics, Chicago Bulls, and Detroit Pistons of 4 different NBA games on the same ticket. Once Los Angeles Lakers wins, a winning of €2 is rolled over to bet on Boston Celtics. After Boston Celtics wins, €4 is rolled over to Chicago Bulls. In this way, if all your 4 teams win, you get a cumulative return of €16.

Appropriate When: You want to multiply potential profits by taking calculated risks.

3. Long-Term Bets (Futures)

Explanation: It’s one of the types of sports bets where a player bets on events or outcomes that will happen in the distant future, such as league winners or championship winners.

Example: You place a bet on Kansas City Chiefs to win the Super Bowl Championship at the beginning of the NFL season.

Appropriate When: You have strong insights about season-long performance.

4. Over/Under Bets (Totals)

Explanation: It’s a betting type where a player bets on whether the total number of runs, points or goals scored in an sports event will be over or under a set line.

Example: Suppose in an NFL match between Chicago Bears and Dallas Cowboys, the current total is 54. Considering it as a high total for the NFL, you decide to bet on Chicago Bears, believing that it will score a lower total. Now, if Chicago Bears scores a total point less than 54, you win. But if Dallas Cowboys scores a total of more than 54, you lose.

Appropriate When: You’re unsure about the winner but have a sense of the game’s intensity.

5. Handicap Betting (Spread Betting)

Explanation: This sports bet refers to adjusting the odds to level the playing field by giving a virtual advantage or disadvantage to one team.

Example: Let’s say in a soccer game between Manchester United and Barcelona, you make a Handicap bet of +1.0 on Manchester United to win. After the actual match ends, suppose the results read Manchester United at 0 and Barcelona at 0. Now, due to your Handicap bet of +1.0, Manchester United’s final virtual score will be 0+1.0 = 1, whereas Barcelona’s score will remain 0. So, in this case, Manchester United wins, making you win.

Appropriate When: You want to bet on a strong favorite but seek better odds.