HOW TO BET

Sports

How to Place a Sports Bet

Three components of a sports bet

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Sports

Different Types of Sports Bets Explained

There are many questions about sports betting that we hear over and over. The question […]

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Horse Racing

Types of Horse Racing Bets

You have two categories of wagers to choose from when you bet on horses: straight […]

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Sports

How to Place a Sports Bet

Three components of a sports bet

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Three components of a sports bet

1. Selection

The selection portion of the bet is as simple as choosing what you would like to bet on.

2. Stake

The stake is the amount you would like to bet. If you choose to bet $100 on a game, the stake is $100.

3. Odds

The odds are the likelihood of an event occurring. The odds determine how much you will be paid if you win a bet.

Sports

Different Types of Sports Bets Explained

There are many questions about sports betting that we hear over and over. The question […]

Valentin Beres

There are many questions about sports betting that we hear over and over. The question we here most from both new and experienced bettors is “what are the best types of wagers to place?”

Here is a simple guide to the different types of sports bets that can be placed:

Money Line Bet

Sports betting doesn’t come any simpler than the money line bet. A money line bet is the easiest and most popular way to bet on sports. This wager can be used in virtually every sport we can bet on, and it involves simply picking who is going to win a game, match, or other event.

Point Spread Bet

Point spread bets are another extremely popular wager type, especially for football and basketball. A point spread differs from a money line bet as you are not betting directly on which participant will win a game or match. Instead, you are betting on which participant will “cover the spread.” The spread is created by the bookmaker and effectively deducts points from the favourite or gives extra points to the underdog. The goal of a point spread is to make the 2 teams equal favourites.

Handicap Bet

A handicap bet is very similar to a point spread bet, as points are still given and deducted from a team for betting purposes. However, the aim with a handicap bet is not to make the teams equal favourites. Instead, a handicap bets gives the bettor the freedom to choose the spread they wish and the odds will be reflected accordingly.

Over/Under Bets

This type of wager is extremely straightforward and requires the bettor simply choosing if he thinks the total points scored in a game will be greater or less than the total set by the bookmaker. The bettor can also choose to pick the over or under on the total points scored by a specific team, rather than the total for the entire game.

Prop Bets

A prop bet is a bet on a specific aspect of a sports event that does not necessarily have a direct effect on the outcome of the game. These bets are extremely fun and exciting and have become some of the most popular bet types.

Examples of prop bets are: “Will the Kansas City Chiefs score first in the Super Bowl?” and “Will Auston Matthews score a goal in his game?”

Some sports books also offer some exotic prop bets such as betting on the length of the national anthem or the result of the coin toss in the super bowl.

Futures Bets

A futures bet is a bet made for an event that will happen sometime in the future. A futures bet is typically made before the season but it can also be placed during the season or playoffs. An example of a futures bet would be taking the New England Patriots to win the Super Bowl before the season starts.

Parlays

A parlay involves making more than one selection in a single wager. A parlay bet is hard to win, as you are required to get every selection within the bet correct. If any of the selections in the bet are wrong, the entire wager is a loser. The benefit of making this type of bet is the bettor is rewarded with a much larger payout if all selections are correct.

Horse Racing

Types of Horse Racing Bets

You have two categories of wagers to choose from when you bet on horses: straight […]

Valentin Beres

You have two categories of wagers to choose from when you bet on horses: straight wagers and exotic wagers. For a beginner, we recommend sticking with straight wagers. For a straight wager you simply pick one horse to come in first, second, or third.

Exotic wagers allow you to make multiple bets on multiple horses in a single wager. Exotic wagers are generally much more difficult to win than straight wagers and require an advanced degree of skill and knowledge in horse picking. However, the payoffs on exotic wagers are much greater than straight ones.

Straight Wagers

With a straight wager, you only bet on one horse.

  • WIN – You’re betting that your horse will come in first place. If your horse finishes in first, you win.
  • PLACE – You’re betting that he will come in first OR second. If your horse finishes in first or second, you win. Payout for a place bet is less than a win wager, but you do have the security of being able to cash in if your horse finishes in the top two spots.
  • SHOW – You’re betting that your horse will come in first, second, OR third. You have a higher chance of winning, but the payout for a show bet is substantially less than a win or place wager.
  • ACROSS THE BOARD – When you bet across the board, you’re betting your horse to win, place, AND show. An across-the-board bet is what’s called a “combo straight wager” because it’s three different bets (win, place, AND show) in one. Because it’s three bets in one, an across-the-board bet is more expensive than a simple win/place/show wager. For example, a $2 across-the-board wager will cost you $6, because you’re making three $2 bets. If your horse comes in first, you get the win, place, and show money. If your horse finishes second, you get place and show money. If your horse comes in third, you just get the show money.
  • WIN/PLACE, PLACE/SHOW – Similar to an across-the-board bet in that you’re making multiple straight wagers in a single bet. In a win/place bet, you’re betting your horse to win AND place. If he wins, you collect both the win and place money. If he finishes second, you collect just the place money. In a place/show bet, you’re betting that your horse will place and show. If your horse finishes second, you collect the place and show money; if he finishes third, you just get the show money. A $2 win/place bet will cost you $4 because you’re betting $2 that your horse wins and $2 that your horse places.

Exotic Wagers

Exotic wagers allow you to bet on multiple horses in a single bet, allowing you to increase your profit potential. They’re much harder to win than straight bets, and require much more skill in handicapping horses. We recommend you experiment with exotic wagers only after you have made some straight bets.

  • EXACTA – You’re betting on two horses to come in first and second in an exact order. For example, if you placed a $2 exacta on horses 3 and 5, you only win if horse #3 comes in first and horse #5 comes in second. Exacta bets are popular among skilled horse handicappers because the payoff can be very lucrative. You can also “box” your exacta bet which means your two horses can come in any order in the top two spots and you still win.
  • QUINELLA – With a quinella bet, you’re betting on two horses to come in first and second in any order. As long as your two horses finish in the top two spots, you win. So if you placed a $2 quinella bet on horses 1 and 6, you win if horse #1 and horse #6 come in first and second in any order.
  • TRIFECTA – You bet that three horses will finish in first, second, and third in an exact order. If you place a $2 trifecta bet on 1-5-7, you only win if horse #1 comes in first, horse #5 comes in second, and horse #7 comes in third. You can also box your trifecta bet so you can win if your three horses come in first, second, and third in any order.
  • SUPERFECTA – You bet that four horses will finish, first, second, third, and fourth in an exact order. As with exactas and trifectas, you can also box a superfecta.

We hope this helps and good luck with your future bets!