Section Background Image
Betting Types Explained

Knowing the different types of bets is a very important requirement for a successful bettor. Many successful bettors swear by betting more simply on three-way bets, other successful bettors use the various bet types at the right time. This is the art of recognizing good odds on the different types of bets and betting on them successfully. If a bet type is unclear, you should find a detailed explanation here!

  • Knowing everything about betting types brings an advantage
  • Use the right betting type at the right moment
  • All betting types are explained in detail here
Betting Billy
Section Background Image
Section Background Image
Current Sports Picks
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed
Matthew Jones
Author:
Matthew Jones
Last Updated:
November 28, 2020
Approved
Author
This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.
Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.

Sports Betting Types Explained: Full List 2020

Legal online sports betting is quite new to American players, but if you live in the USA and are looking to bet on sports, you have nothing to fear.  BettingBilly is here to help you figure out all the ins and outs of online sports gambling and this particular guide will help you understand all the different betting types you may find in online sportsbook lobbies.

Top 7 Betting Types Explained

If you have never bet with a proper bookmaker before, you may only be familiar with the most basic of sports betting markets. However, there are many sports betting types you can put your money on, and this is the list of the 7 most popular ones offered by online bookmakers:

  1. Single Bet: The simplest way to bet on any sport is to pick just one betting market and place a single bet. Single bets are usually made for larger sums of money compared to one’s bankroll and offer low variance in the big scheme of things.
  2. Combination Bet: Combination bets or parlays are betting slips with several different selections all placed together. The betting odds of these picks are multiplied, often resulting in massive returns on investment for the winners.
  3. System Bet: System bets are types of combo or acca bets in which you can afford some mistakes. A system bet only requires some of your picks to be winners and pays a fraction of the overall win for each winning combination.
  4. Handicap Betting/Asian Handicap: Asian handicap and other types of handicap markets allow punters to bet on favorites and still get decent betting odds. By requiring one side to win by a certain margin, these markets even out the odds and make mundane matches more exciting.
  5. Over Under Betting: If you can’t decide which side is going to win the match but believe it will be an action packed or a boring one, placing an over/under bet on the final number of points or goals can be extremely lucrative in some sports.
  6. Double Chance Bet: This betting market allows the punter to win with two different outcomes such as home/away, home/draw or away/draw. This means your bet will only be a losing one if the final of the three outcomes happens.
  7. Spread Betting: Similar to handicap betting, spread betting is all about the points. In order to win a spread bet, you will need your chosen side to win by a certain margin. Modern bookmakers have also introduced points betting for an even more interesting variation on this theme.

Different Rules in Different States

For the most part, the sports betting laws in different states are similar but there are some differences that players need to be aware of. Certain types of betting may be excluded from the offer in some states and this is primarily the case with college and other amateur leagues which are sometimes not offered by the bookmakers. The main reason for the exclusion of these betting markets is the belief that amateur sports are easier to fix and interfere with, which is why most states don’t allow punters to bet on at least the teams from that particular state.

Top 5 Sports Betting Sites

The recent decision of the Supreme Court that finally allowed states to decide on their own whether sports betting will be legal within their borders has led to dozens of US betting sites to start their operation. We bring you a list of the top 5 betting sites that you will want to join in order to get access to all the sports betting markets and superior odds on every bet you make.

 
Choose your state
Colorado
Illinois
Indiana
Nevada
New Hampshire
New Jersey
Pennsylvania
West Virginia
Filter
100%
Rating
*******
Bonuscode
100% up to
$500
13
Sports
Mobile / App
98%
Rating
*******
Bonuscode
100% up to
$100
14
Sports
Mobile / App
97%
Rating
*******
Bonuscode
100% up to
$500
12
Sports
Mobile / App
96%
Rating
*******
Bonuscode
100% up to
$300
9
Sports
Mobile / App
94%
Rating
*******
Bonuscode
100% up to
$1,000
14
Sports
Mobile / App

Sports Betting Types: Often Asked and Answered

Conclusion: Choose Your Betting Type
Now that you have had all the betting types explained in detail, it is time to choose which market you want to bet on and get into the action. Sign up with the best online bookmakers in the USA today and start placing real money bets with no restrictions. The best thing is that you also get to capitalize on juicy bonuses with each bookmaker, so start your registration process now and place your first online sports bet now!
Find the best Sportsbook now!