Let’s learn about betting markets.
Key Points
– Bettors should know what betting markets exist in all sports.
– Live betting is the newest of all betting markets.
Let’s Learn About Betting Markets
These are the two most important things to do once you enter an online sportsbook. First, you should familiarize yourself with the active leagues in sports. Look into the NFL, NBA, NHL, MLB and the other sports. Second, you need to familiarize yourself with the betting markets in those different sports – NFL, NBA, even bets on NASCAR should be on your radar.
You have options when it comes to arranging your daily, weekly, and monthly viewing thanks to the sports leagues. You have a choice of which bets to place thanks to the availability of betting markets. There are many.
Betting Markets – Pre-Game Bets
As mentioned, there are various types of bets. The most frequent type of wager is a pre-game straight bet. This type of bet includes a wager on the point spread, the total line, or the money line odds.
Odds on individual proposition bets are another common type of wager in most every sport. Prop bets are becoming more and more popular with the rise in global sports betting.
Bets that are placed on the long-term include futures and season props. A common futures bet in the major sports leagues is on the overall champion at the end of the season. The Super Bowl futures bet in the NFL, for example, is extremely popular among bettors.
More than one game wager that is combined into a single bet is called a parlay. In a parlay, you have the option of betting on two teams or more and combining those bets into a single wager. The greater the number of teams you have, the better your odds will be.
The issue with parlays is that it is imperative that all of your bets win. If one of the individual bets loses, the entire parlay loses. In the event of a draw or tie, the parlay is reduced by one team.
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Types of Pre-Game Bets
Betting on the point spread, especially in football and basketball, is very popular among bettors. Sports like baseball and hockey are money line sports. More on that in a moment.
In sports handicapping, one of the most important tools is the point spread, which is used to identify which team is the favorite and which team is the underdog. The point spread will also reflect the favorite’s status. The more even the distribution of points between the favorite and the underdog, the closer the expected outcome.
Football and basketball games are the ones that lend themselves to straight bets on the point spread. The majority of the time, hockey and baseball are reflected in money line odds. When betting on the money line, bettors are simply picking a team to win regardless of any point spread.
Bets on the money line are made between the favorite and the underdog in a head-to-head competition. In most cases, the underdog has a financial benefit tied to such odds, while the favorite has a financial risk tied to those odds. The prohibitive favorite will assume an enormous financial burden. When the odds of winning are closer together for both the favorite and the underdog, the financial risk and financial reward are also closer together.
Any sports league can attract attention with the total line bet, which involves picking whether the total score will go OVER or UNDER a certain number. An OVER or UNDER on the predetermined total is what the total line for points or goals scored looks like. The outcomes of the games that are played for a total line are always the same: The final combined score either goes OVER the total line or stays UNDER the total line. On some occasions, the result can be a push, aka a tie.
Don’t forget less popular markets like betting 2nd half NFL totals. Oftentimes, bettors can find inefficiencies in these betting markets and locate value.
Betting Markets – Live Betting
Bets placed during a game, including those on the point spread, total line, and money line odds, are subject to change once the game has begun. Questions pertaining to the current game are considered to be in-game props. Whether you are betting on an offensive drive for an NFL game or a pitch for an MLB game, the outcome of your wager is dependent on what occurs next.
The in-game bets include activity on the point spreads, total lines, and money line odds based on what has already taken place in the game. Imagine the Green Bay Packers had a significant advantage against the Chicago Bears in terms of betting odds.
There is a good chance that the point spread will widen if the Packers get on the board early. The point spread is going to be relatively tight if it turns out that the Bears scored first. The spread and its associated odds will fluctuate throughout the entire game.
Live bettors are tasked with finding the best time to place their wagers. That’s the beauty of live betting markets.
Straight bets placed during the game run concurrently with the duration of the competition. Bets placed during the game on in-game props can be utilized to generate “what will happen next” scenarios.
