Different Betting Options at Online Sportsbooks

Betting as an industry may be a recent development, however, wagering on the outcome of sports is not a new phenomenon. We have evidence to show that the Ancient Romans placed bets on boxing tournaments, gladiatorial matches, and races. The Medieval nobles in England would also sponsor and wager on cricket teams, and Chinese emperors bet on cuju matches. However, in the Victorian age, when new industries were just starting to develop, bookies became a lot more prominent.

The rise of the sports betting industry also led to its strict regulation. Lawmakers saw that bookies would prevail no matter what, so rather than banning the practice they ensured that it is safe for their people. Today, sports betting is primarily done online. Internet sportsbooks come with options for online gambling as well, and feature some of the most popular casino games, like slots, roulette, and more. But, what about the sports betting options?

Betting Options

The first thing that a new punter should be aware of is that online sportsbooks allow you to place all sorts of different bets. Some of these options are quite popular, and most gamblers would recognize them as soon as they see them. However, the improvement we’ve seen in digital technology has enabled bookie developers to introduce new and exciting betting options. For those who are new to the world of sports betting, in this article, we are going to examine all of the most popular bet types you can find online.

The good thing about online bookies is that they are a lot more easily accessible than land-based ones. For example, visiting the Bodog Sportsbook only requires players to create an account and have access to an electronic device. That means they can use a smartphone, a tablet, a laptop, or a desktop computer, and within a few minutes they will be able to access any of the betting types that we are going to be bringing up in this article. So, without further ado, let us delve into the nitty gritty.

Moneyline

When people think about betting on a sport, they usually think of moneyline wagers. A simple bet type, the moneyline basically requires the participants to put money down on the team or individual that they think is going to win the game. For that reason, they are also often called “To Win” wagers or “Match Winner” bets. By far, they are the simplest betting option to understand, which is why they are perfect for beginners.

The best part about a moneyline wager is that new bettors don’t need to concern themselves with margins or points (we will get to those later). You just need to look at the betting odds, see who the favorite is, and place a wager. However, there is also a downside to moneyline bets, that being that the payouts are not often too great. But the losses, especially when betting on an underdog, can be quite high. That is why we recommend anybody new and inexperienced to start out light, and of course, always bet responsibly.

Point Spread

As we said, moneyline bets are simple, but can be quite unfair towards the underdog. To make things a bit more interesting, online bookies (and even land-based sportsbooks) sometimes offer point spread bets. Though they are a bit more complicated to understand, as they require you to learn about margins and points, they can also spice up a pretty boring game, where you already know who is the likeliest winner. But, how do point spreads work?

As an example, let us take a tennis match. If two tennis pros were to go up against each other, one of whom is in their prime, and the other of whom is an amateur, you are most likely going to assume that the one with more experience wins. This is especially relevant nowadays, as a new era seems to be unfurling in tennis. To make things a bit more interesting in such an occasion, the bookie will create a point spread, giving the underdog player positive points, and the favorite negative points.

No matter what the outcome of the match is, if the favorite hasn’t made up for the point difference, those who wagered on the favorite have lost the bet. The goal here is to make betting a bit more exciting for everyone involved. However, point spreads are also quite a bit more complicated than moneylines, so we recommend getting acquainted with the industry, before switching over to this type of betting.

Prop Bets

Finally, we have to look at prop bets. Short for proposition betting, prop bets refer to all of the different wagers one could make without betting on the outcome of the match. For example, in a soccer match, you could wager on who is going to win the game. But, you can also wager on certain outcomes outside of that. An excellent example of a prop bet would be betting on the amount of penalty shots that will take place during a game, and the amount of penalty shots that will result into a goal.

Prop bets are great fun, because they can often get quite ridiculous. One of the most interesting examples of a prop bet in sports happens every year during the Super Bowl. As many football fans might know, there is a long-standing Super Bowl tradition, where the winning teams douse their coach in Gator Ade. Every year, bookies offer odds on what color Gator Ade the coach is going to be covered in. The fact that there aren’t any clues makes betting on the outcome more exciting for some.

Key Takeaways

It is important to note that the three betting types we’ve discussed in this article are but a fraction of the overall choices you have when it comes to sports betting. However, they are among the most popular. That being said, no matter how simple a betting option may appear, it is always good to do some research, and understand exactly how it all works, before placing a wager.