There are many types of sports bets with different characteristics and multiple possibilities. In general, we can talk about three types of bets, we detail each of them below.
This is undoubtedly the most basic and simplest type of bet. A single prediction is made, a single investment and you must wait for the result to know if there are gains or not.
The player must predict an outcome and set the amount of the bet. If the prediction is correct, the user wins. Winnings are calculated according to the stake. Simply multiply the stake by the amount wagered. The single bet is also called a single bet.
A combination of several single bets. It is a very interesting type of bet since the odds of these events are multiplied by each other. And there are some of the best betting sites that offer extra bonus. They are more complex to achieve profits, however they give more opportunities to win more money. The exponent, here, is 22bet Brazil, which has many matched betting options.
For example, if the player bets on two or more outcomes, from different events, they are arranged as cumulative bets. The member is only entitled to the winnings if both selections are correct. Several selections can be added, however, the more selections added, the more difficult it is to match. As a consequence, the better the payout.
The degree of complexity continues to increase. They are almost identical to combination bets. However, system bets allow for some failure in the group of selected events. The odds are generally lower than in combination bets.
One must choose three or more selections on the slip to place a system bet. As mentioned, the difference between multi and system bets is that it is not necessary to win on all events. In a system bet ⅔, for example, if the player hits two out of three selections, he wins.
When there is a clear advantage of one team against another, the odds of the favourite are usually quite low. Therefore bookmakers offer a “change” in the betting system, guaranteeing a point advantage to the weaker team.
We can see in the example in the picture, in a Libertadores match, Peñarol played against Atlético Tucumán. Being the favourite, in the 1×2 market the odds were 1.75, a low value. So, bettors could count on the handicap. One of the possibilities was a 2 goal advantage for Atletico. With this, Peñarol’s odds rose to 6.50.
For the player to win the prize, Penarol should score at least 3 goals in the match, since hypothetically, the handicap assured a 2 goal advantage for the underdog Atlético, guaranteeing a virtual score of 3-2. By scoring only one goal, Peñarol would “lose” the handicap, 1:2 to Atlético.
How the odds are set
In principle, bookmakers always have better knowledge and information of the games they are offering than punters do. It is often more likely that the bettors’ assumed value in odds is actually incorrect, as the oddsmaker working for the betting company has better knowledge when setting the odds. But this is not always the case: oddsmakers and especially other punters make mistakes, which a skilled punter can exploit.
In practice, to benefit from betting on sports, a bettor must be able to bet on a selection, where the odds are greater than the actual probability of occurrence. Making an assessment of the odds and calculating the “correct” odds is the foundation of a systematic and profitable bet, but it requires time and skills.