Sports betting has been the foundation of human civilisations for centuries. People have been betting on things like horse racing to one-on-one boxing matches. Placing your money on an event ups the ante and makes the event even more thrilling to watch. And American bettors are crazy about it.
Learning about the different types of sports betting that is out there is the first step to becoming a well-read bettor. You’ll know what you want to play and when to play it. Firstly, we’ll look at why you should consider betting on sports in the US.
Best US Sportsbooks Online
What you’ll find in this guide on different ways to bet on sports:
There are few factors that make it much more interesting than traditional gambling. Below we’ll take a look at four reasons why you should bet on sports:
- It’s simple to learn: learning the basics of sports betting is straightforward. Just learn how it works and how to place wagers.
- There’s money in it: sports betting isn’t completely reliant on luck, unlike other types of gambling. Despite the oddsmakers’ having an advantage, American bettors can get ahead of it if they know what they’re doing.
- You’ll have fun: testing your sports knowledge against a US online sportsbook is extremely enjoyable. Furthermore, it makes watching sports more exciting.
- Placing bets is easy: this final point is thanks to the advent of the internet and mobile technology. You just have to login to your favorite sportsbook to place bets. Away from your computer? You can also wager from your phone and tablet.
Let’s take a look at the major seven betting types.
This type of sports bet is relatively new to the sports betting industry. Sports bets and odds are placed the same way as traditional sports bets. The major difference is there is no sportsbook involved. Instead of using a middle man, the bets are place between the bettors. You’re placing sports bets in direct opposition to other bettors.
Fixed Odds Betting
This is the more traditional variation of a sports bet on the market. Most of the sports bets on US betting sites relate to fixed odds sports betting and it’s the one most people are familiar with. Fixed odds mean that everyone is in agreement when the odds on a wager are placed. Notably, even if the odds move, whatever the wager wins is paid out at the pre-agreed odds. It’s that straightforward.
In-play or live betting is a live action sports bet with fixed odds. US bettors bet on aspects of the game as it’s happening up until it’s nearly over. Thanks to the internet, in-play betting has become one of the more popular sports bets. You can follow the live action on your computer or mobile device.
This is the oldest sports bet type apart from fixed odds. To put it simply, this sports betting type takes everyone’s wagers and pools them together. When the wagers are settled, the winning bettors get their money from the pool. Most noteworthy about pari-mutuel betting is that there are no sportsbooks or odds involved. This is what the inventor of this betting type was getting away from: the bookmakers who were making huge profits off their wagers.
Obviously, people wager different amounts so a bit of math is involved. They calculate how much you get compared to how much you wagered.
This is the newest type of sport to enter the sports betting industry and it’s big in America. Electronic sports, or eSports as it’s commonly known as, is an industry of professional video gamers who are highly respected in the video gaming world. Tournaments are regularly organized and they pull in millions of viewers and billions of dollars. Whether it’s playing first-person shooters or real time strategy games, you’ll find eSports at your favorite sportsbook.
Other useful guide for betting on sports online:
This type of betting isn’t as popular as fixed odds betting. Furthermore, it’s not to be confused with point spread betting which is a type of bet you place with fixed odds betting. A little more complicated than the other type, your stake isn’t fixed and there aren’t any odds. Spread betting could be compared to totals betting or over/under betting.
The complication with spread betting is lies in that American players not only have to be right or wrong but also by how much they are right or wrong. This type of sports betting is high risk and results in either high rewards or high losses.
Daily Fantasy Sports Betting
While it may technically not be a sports betting type, it is being treated as such. Fantasy sports betting, or to be more specific daily fantasy sports (DFS) betting is incredibly popular in the US. Basically, DFS is the same as fantasy sports betting but it’s much shorter, usually over a single round of games. Hundreds of thousands of people participate in DFS regularly. Winning a large stake from a small wager is entirely possible with DFS is you choose right.
Take your time and get to know your favorite US sportsbooks and sports betting type before committing to it. Each sports betting type has its own pros and cons. First, play with smaller amount. When you start getting the hang of it, increase your stake bit by bit. You’ll be making money in no time with sports betting.