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Different Types of Sports Bets Explained
August 2, 2023

Different Types of Sports Bets Explained

Here’s an essential step in your sports betting apprenticeship: the different categories of sports bets offered by gambling platforms. As you know, sports betting has a wide range of online and offline bets. While some of them offer much more attractive winnings than the average bet, they also often make prediction more difficult.

This is why bettors sometimes struggle to make the right prediction with a high success rate. To do so, they need first to familiarize themselves with all these different types of sports bets in order to find out which decision suits them best. And yes, every gambler has his own convictions and therefore his preferred bets!

Types of Bets and Their Differences

Remember, before entering the gambling world, you must know how to differentiate between the most common forms of betting. Thanks to our guide you will have an idea about the five most popular options. Once you know them, all the other betting forms will be a piece of cake for you.

Simple Bets

It’s a fact the simplest things are often the best! Bookmakers understand this as well as players do and believe that simple sports betting is necessary, whether you’re a beginner or an expert bettor. This is one of the best sports betting types that guarantees players a greater chance of winning.

The logic behind simple bets is to avoid misunderstandings of the rules so that every beginner can start betting on the same day. Depending on the sport, you can place a simple bet for victory, defeat or a draw between the two teams or sportsmen and women. This bet is played as follows: 1X2 (1 for a win for the first team, X for a draw and 2 for a win for the second team).

In general, this type of betting is best for predicting sports results. For example, if it’s a close match, would it be wiser to opt for a simple bet with a 50% chance of winning and losing or another type of bet to ensure a win? It’s a question that always animates conversations between players. From our point of view, we believe the simple bet is possible if you have enough knowledge, experience, and intuition about the sport you’re betting on.

Combo Bets

Have you ever heard of combination betting, multiple betting or combos? You may be surprised, but all these betting options refer to the same idea! That’s one more thing to simplify things! And that’s not all. We have a lot more to tell you about this type of bet. You’ll be amazed to learn just how many combinations are possible and how much you can win if you opt for the combo bet.

Although combined bets are among the most complex types of bets in sports and considerably more difficult than simple bets, it’s still fairly easy to understand. In order to play with a combo bet, you need to follow these steps: Firstly, you place simple bets between 2 and 12 sports games, which are then combined into a single chance. This means that if all your predictions are correct, you’ll win a nice jackpot.

In fact, the winnings awarded to the player are decided according to the total ratio of the various combined odds. For example let’s assume that you place two bets at odds of 2.50; if both your bets win, you win 5.0 times your stake! However, if one of your bets loses, you lose your entire stake. And yes, as you may notice, this type of betting includes high risk. It’s all or nothing with no halfway!

Live Bets

Live bets, also known as “live betting” on online betting sites, is the new gambling trend of the moment. Betting on a live event adds more suspense to the course of the fixture. This is one of the creative ways to bet on sports and will take you further in your quest for winnings.

If you’re wondering what a live bet is, the principle is simple, clear and straightforward: Punters can place bets on sport events that are still in progress. As you can imagine, this type of betting represents an additional source of adrenalin.

In the case of live bets, odds fluctuate according to the match’s progress. For example, if you want to place a live soccer bet on Morocco’s 2-0 victory over Spain after 30 minutes of play, the odds will be much higher than before the start of the match.

Handicap Betting

Now let’s move on to the handicap betting option, which has been a significant success on sports betting sites. This option is among the most creative types of bets in sports. Handicap betting is also a way to correct the balance in a match between two opponents or two teams.

Let’s take a concrete example of betting with a handicap: you decide to place a prediction on a match between Grasshopper Zurich and Young Boys Berne. The odds for a simple bet are as follows: 1.50 for a home win, 7.00 for an away win and 2.00 for a draw. Here, it’s clear that the match is unbalanced, as are the odds. So the bookmaker proposes to add a one-goal handicap (0:1). At the end of the match, the final score will add a goal for Young Boys Berne, the weakest team, to increase their chances of victory.

From there, several scenarios are possible. It’s up to you to use your analytical mind to ensure the handicap bet turns out in your favor.

Double Chance Bets

Any bettor’s aim is to win as much money as possible by getting a dose of adrenalin with every bet placed. Double chance betting is for players with solid sports knowledge who want to be more certain of winning their bets. Neither really a simple bet nor totally a combination bet; it’s rightly in a category of its own.

There are some difficulties if a player uses the double chance bet. First, you should choose matches where a draw is available. Then you bet on two match outcomes in a single bet. Defeat or victory for team A and draw, or victory or defeat for team B – all these combinations are possible without combining odds. However, the odds are less attractive than the bet types mentioned above.

At the official Vave casino blog you can find more interesting article about sport and esports betting.

Bets You Should Never Make

There are different bets that you should avoid as a beginner and even a professional gambler. However, we believe that these two errors are the most disastrous. Let’s find out more!

Bet on sports you don’t understand

It’s a big mistake to bet on sports you don’t know because you need to judge the odds and analyze all important information. This can lead you to miss things like team dynamics or player injuries that affect outcomes.

Bet with money you can’t afford to lose

Betting with funds you can’t afford to lose is a mistake because it risks your financial well-being and causes stress. Additionally, it leads to impulsive choices and can have lasting effects.


With this, we come to the end of our article. We sincerely hope you have enjoyed all this information about the different types of betting and invite you to share it with your friends. Thank you all!


  • What is an accumulator bet?

    An accumulator bet is a type of wager that combines multiple selections into one bet. To win, all selections must be correct. Accumulator bets offer the potential for higher winnings, but the risk increases with each additional selection.

  • What is a betting exchange?

    A betting exchange is a platform that enables users to bet against each other, rather than against a bookmaker. It allows individuals to set their own odds and bet on both sides of an outcome. Betting exchanges offer a broader range of betting markets and provide the opportunity to act as both a bettor and a bookmaker.

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