The online sports betting industry has seen rapid expansions across the US. As more states start legalizing online gambling activities including sports betting, people find it easier to get into the betting market.
Some people find it challenging to cope with the fast-paced sports betting environment due to a lack of preexisting knowledge and experience. Most newcomers find it difficult to comprehend the types of bets involved in online sports betting.
Keep reading this guide if you’re among those online sports bettors. This comprehensive post will clear your basic confusion.
Main Types of Online Sports Bets
It’s not difficult to learn and understand different types of online sports bets. However, finding out what type is easy to execute and which one requires immense experience is a more important task.
The Single Bet
It doesn’t take much to understand single bets. A single bet can be a prop bet, parlay bet, or even a future bet. All it entails is a single wager that isn’t tied to anything. In case you’re making multiple single bets through the same bet slip, all bets will be separate from each other and none of them will be tied.
It’s quite easy for beginners and involves low risks. Although there are low risks and higher winning chances, this bet offers low-profit gains if successful. At least 50% of US adults have placed a sports bet and it’s possible that most of them tried a single bet.
The Prop Bet
In simple words, prop bets can be anything. That means prop bets don’t necessarily have to wager that you place over a certain sports game’s outcome. It’s more related to the different events that take place within a game.
For instance, you can place prop bets on which player will be the first to score and from which side in a football match. A prop bet may also be a wager on whether the toss coin will land on heads or tails.
The Parlay Bet
By placing a parlay bet, you (i.e. the bettor) is tried to tie two different outcomes of a game together. It can be more than two outcomes of a game as well. For instance, you may be trying to combine two money lines with a point spread or three money lines separately.
Frequently Asked Questions
Still looking for more info? We’ve compiled a list of FAQs – check them out!
Which type of bet is the easiest to handle?
The easiest bet is the “single bet” which is best for beginners because it involves low risks and higher winning chances.
How often do professional bettors win their bets?
Keeping a long winning streak is difficult and due to that, the winning percentage of pro bettors is around 50%-55%.