Betting on sports, elections, or any other thing requires some form of strategy. You do not just bet haphazardly hoping to win every time. Betting, just like any other thing, involves some patience. You need to take your time finding out what to bet on and, most importantly, the type of wager to deal with. And in this piece, we take an in-depth look at the various kinds of bets available

1. Win bet or Moneyline bet

This form of betting is the most popular kind of wager that can be placed on virtually every sport in the market. Almost all sites and apps offer their clients this form of a bet. So much so, you can, without a doubt, use the win bet on Betway mobile app. The win bet is considered the traditional way to bet on several sports, and it involves merely selecting the team to win the game, match, race, or tournament. Depending on the game, the number of options will vary. 

2. Handicap betting 

This is yet another kind of bet that is used all over in different parts of the world. Here, the points or goals are rewarded and deducted from teams for the purpose of the betting. The aim is not concentrated on making the participants equal favorites but to present different options instead. Handicap betting gives the bettor a better opportunity to improve their chances to win.

3. Point spreads

Point spreads use a range of possible outcomes of a match known as a ‘spread.’ In this form of betting, the punter basically bets on the participant who will cover the spread. This spread is created by a bookmaker who sets both competitors as equal favorites for the betting. The underdog of the range is given points, and the favorite is deducted points. The spread, therefore, allocates how many points are awarded or deducted in a particular wager.

When you place a bet in favor of the favorite on the point spread, you are backing them to win by a margin that is greater than the size of the range. But when you bet in favor of the underdog, you are backing them to either win or lose by a margin that is less than the size of the range given.

4. Totals

Totals or over-under operate in such a way that the bookie sets a line for the total number of points, runs, or goals achieved in a match. The wager is placed on whether the final score will be above or below the said number. Here when you bet on the result to be higher than the set number, it is called backing the over. And the opposite is called backing the under.

5. Prop bets

Also known as specials or in full proposition bet are done for fun rather than to earn a dime. Props bets are the wagers that focus on the specific aspects of an event that do not necessarily have any influence on the outcome of the match. Examples of a special bet are which player or team will score first, time of the first corner, time of the first goal, so on and so forth.