Best Types of Sports Bets for Beginners (And How to Avoid Losing Money Right Away)
Sports betting can feel a bit like walking into a gym for the first time. Everyone’s doing their thing, strange words are being thrown around (parlay? handicap? teaser?), and you’re just standing there pretending you know what a moneyline is.
We’ve been there. The good news? It’s not that deep. Once you understand the main types of bets in sports betting, you’re halfway to sounding like you know what you’re doing. The bad news? You still have to learn not to stake your rent money on a 12-leg combo (don’t be that guy).
Understanding the Basics: Bets and Sports Betting Explained
Before you place your first bet, learn the lingo, the odds, and how to spot a decent betting site. One that wasn’t built all the way back in 2006.
Common Betting Terminology
Let’s get a few terms out of the way:
- Odds – How much you’ll win vs. how much you bet.
- Point spread – The cushion or challenge set by the sportsbook to “balance” the match.
- Moneyline – Just pick a winner. That’s it.
- Stake – Your money on the line.
- Payout – Your stake + winnings. Hopefully.
Understanding Betting Odds
Odds can come in different formats: decimal, fractional, or American. Honestly, decimals are easiest:
- A 2.00 means if you bet €10, you win €20 total.
- A 1.50? You get €15 back.
- A 5.00? Hello, risky bet.
If it looks too good to be true… it probably is. Unless you just really believe in Moldova’s under-19 women’s volleyball team.
Choosing a Sportsbook
Not all sportsbooks are created equal. Look for:
- A clean, fast site or app (if it crashes mid-bet, run).
- Good welcome bonuses that aren’t impossible to use.
- Live betting, lots of markets, and fair odds.
- Clear terms—if you need a law degree to withdraw your money, skip it.
We’re obviously biased, but Vave ticks most of those boxes.
Different Types of Sports Bets and Their Differences
Now to the fun part: what kinds of bets can you place? Spoiler: (in a good way) way more than you probably thought.
Simple Bets in Sports Betting
The name says it all. You pick a team or player to win. That’s it. No combos, no chaos. It’s the best option if you’re just starting. Less risky, easier to follow, and you don’t need a spreadsheet to track your picks.
Example: A bet on Barcelona to beat Sevilla. If they win, you win.
Combo Bets Explained
Ah, yes, the temptation of turning €5 into €500. Combo bets (aka accumulators or multis) let you bundle several simple bets into one. But you only win if all of them hit. Miss one? You lose the whole thing.
High risk, high reward, and high adrenaline. Fun, though! Just… maybe don’t start here.
Live Betting Guide
Also called “in-play” betting. You’re betting while the game is happening live. The odds change every few seconds, which is great if you’re quick—and terrible if your Wi-Fi decides to die.
Example: You see a red card at minute 20 and throw a quick bet on the underdog. Risky? Yes. Addictive? Also yes.
Handicap Betting Strategy
This is where the bookmaker evens things out. Like saying, “OK, Team A is clearly better, so let’s give Team B a head start.”
Example: If Team A has a -1 handicap, they need to win by 2+ goals for your bet to win. It makes one-sided games more interesting, and if you’re good at math, you’ll probably enjoy it.
Double Chance Bets vs Combo Bets
This one’s for cautious optimists. You pick two outcomes instead of one, so your chances are better, but the payout is smaller.
Example: Bet on Team A to win or draw. Unless they lose, you’re good.
Other Popular Bets
- Futures – Bet on long-term outcomes (like who’ll win the league).
- Props – Random things, like “Who will score first?” or “Will there be a red card?”
- Parlays – Basically combo bets, but sound cooler.
Developing Winning Sports Betting Strategies
Most people don’t have a “strategy” when they start betting. They pick a team they like, slap a tenner on it, and hope for the best. We’ve all done it. But if you actually want to win—or at least not go broke—tactics matter. A lot.
Bankroll Management for Sports Betting
We once watched a friend blow through €200 in a single night betting on tennis qualifiers. Qualifiers. Not even the main draw. Why? He didn’t set a budget, chased losses (more on that in a moment), and assumed he’d “win it back” after reading a few sports betting tips for beginners.
Bankroll management is your first line of defence against that.
Here’s how to not be that friend:
- Set a clear bankroll. It could be €50 a week, €200 a month—whatever you can lose without it ruining your week. Or rental agreement.
- Stick to 1–5% per bet. Betting €50 on a single match when your bankroll is €100? That’s just reckless.
- Keep records. Know what you bet, what you lost, and what you won. If you’re just “vibing,” you’re not managing anything.
Think of it like going to the gym. You don’t bench 100kg on day one. Don’t throw half your balance on a 6-leg combo too soon, either.
Research and Analyze Before You Bet
We once placed a live bet on a football match in Denmark… without realizing it had been pouring rain all day, and both teams were playing like they were on ice. Final score? 0–0.
Our bet? Over 2.5 goals. Oops! Moral of the story: do your research.
Here’s what smart research looks like:
- Team news: Injuries, suspensions, or key players missing?
- Form: How have they been performing in their last 5–10 games?
- Home vs away: Some teams are unbeatable at home and hopeless away.
- Weather: Yes, this matters—especially in football, tennis, and cricket.
- Stats: Shots on goal, possession, head-to-heads—sites like SofaScore or Flashscore are your friends.
You’re not trying to predict the future. You’re trying to make a smart guess based on factual info.
Don’t Chase Losses: Manage Your Emotions
Chasing losses is the classic rookie move. You lose €20 on a dumb bet and immediately throw €40 at the next game to “make it back.” Fast-forward an hour, and you’re down €100, pacing your room, furious at a goalkeeper you didn’t know existed this morning.
Betting angry, tilted, or desperate never ends well.
If you lose, accept it and take a break. It’s not a test of your manhood or your genius. It’s just a bad bet. Move on.
Some of us now use a simple rule: after three losses in a row, step away for the day. No exceptions.
Finding Value in the Odds
Let’s say you see Team A at 2.50 odds, and you genuinely think they have a 50% chance to win. That’s a good value bet—because 2.50 odds mean they only “need” a 40% win probability to break even.
Finding value means betting when the odds underrate the actual chance of something happening. You won’t win every time, but over the long run, value bettors stay profitable—or at least lose less.
Tip: Start by comparing bookie odds to betting exchange odds (like Betfair). If there’s a big gap, you might be on to something.
Bets You Should Never Make
When you’re in the zone (or down bad), it’s easy to justify any bet. But if you want to actually last in this game, knowing what not to do is just as crucial as learning strategies. These are the bets that drain your bankroll and mess with your head. Avoid them, and you’re already ahead of half the crowd.
Bet on Sports You Don’t Understand
We once saw a guy confidently bet €100 on a Dota 2 match. His reasoning? “Team Spirit sounds cool.” Guess how that turned out.
Betting on a sport you’ve never watched is like taking a math test in a language you don’t speak. Stick to what you know—or at least what you’re learning.
If you’re curious, watch a few matches first, follow some stats, and learn the rules. Otherwise, you’re just donating money to the sportsbook.
Bet With Money You Can’t Afford to Lose
This one’s serious. If you’re betting the money you need for rent, bills, food—or even just your peace of mind—you’re not gambling. You’re digging a hole.
Betting should be entertainment. If losing your stake would wreck your day (or week), step away. No win is worth that stress.
Responsible Gambling (How to Bet on Sports With Confidence)
It’s easy to get sucked in—especially when you’re on a hot streak (or desperate to end a cold one). That’s why responsible gambling tools exist—and why you should actually use them.
- Set deposit or loss limits
- Use reminders to track time spent betting
- Take cool-down breaks—even if things are going well
- Know when to stop—winning can be just as addictive as losing
And if you ever feel like it’s getting out of control, talk to someone. Whether it’s a friend, a professional, or a support line—it helps. Betting should never feel like something you’re stuck doing.
How to Bet Successfully: Start Small
You don’t need to be a math genius or sports encyclopedia to be smart. You just need a bit of self-control, some basic research, and the humility to admit you’re not always right (looking at you, 7-leg combo that missed by one goal).
Start small, keep it fun, and treat betting like what it is—a game, not a paycheck.
FAQ
What is an accumulator bet?
What is a betting exchange?
