Types of Online Sports Betting

For Beginner

The role of the internet in expanding the gambling spectrum is very significant. It has not only turned things around but opened lots of opportunities and possibilities for alternative types of wagering. In this article, we will reveal the various types of online betting available for USA-based bettors.

Sports Betting

The sports betting volume around the world is the largest out of all forms of gambling. Under sports betting are the top international games like football, baseball, basketball, soccer, etc. Bettors place wagers on fixtures based on the odds. Reading the odds, you can predict which team has a higher chance of winning or which markets hold the most value.

You can head to our list of the top online sports betting sites to begin betting immediately. Here are some of the markets available:

  • Totals (over/under): you get the chance to place Over/Under bets on fixtures based on the number of goals you predict will be scored during the game.
  • Head to head: you can predict outright game outcomes - either win, lose, or draw.
  • Spread betting: betting on the spread is common in sports like football, hockey, and baseball. Here, you are simply wagering on by how many points a team will win or lose. Spread bets usually have a margin of +/-1.5.

Fixed Odds Betting

One of the oldest traditions of sports betting is the fixed odds. Even though this is not the only type of betting, most people only engage in this kind. All bets made before a game begins are fixed odd bets. You get a payout based on those odds, irrespective of whether the odds change later on.

In-Play/Live Betting

In-play betting lets players place bets after the match has started. This kind of sports betting is rather delicate because odds continuously fluctuate, so to take advantage of a value bet, you need to be quick on your fingers. In-play betting is very flexible, and you can bet up until the last minute on whatever odds are still open.

Lotteries

You must have heard about lotteries, as this stands to be one of the oldest forms of gambling in history. Lotteries generally involve drawing a set of random numbers from a jar, for a reward. With high regulations in every country, it is strictly out of bounds for minors, and vendors are mandated to obtain a license for operations. Watching a lottery draw is quite a thrilling experience because as the numbers are drawn one by one, players get increasingly anxious to see if their chosen numbers will be picked.

The lucky numbers for the day are publicly announced, and the winner(s) who staked all the numbers claims the grand prize. Lottery prizes can be extravagant, ranging from car gifts to all-expense-paid trips and million-dollar cash prizes.

Pari-Mutuel Betting

In the 19th Century, Joseph Oller invented this system of betting to help reduce the rate of loss in gambling. Pari-Mutuel betting has complex levels involving calculations, but the idea is straightforward, and the system never requires odds. 

For example;

Two outcomes (X and Y) are presented in a game.

Team A has 100 people who placed a wager of $10 for outcome X, and Team B with 50 people placed a wager of $10 each on outcome Y. So, the overall amount would be $1500.

If outcome X wins, then the $1500 would be shared among members of Team A, making each person receive $15. If "outcome Y" should win, then $1500 would be shared among Team B members who backed that outcome, receiving $30 each.

If the wagers placed differ, the payouts are calculated according to the amount of bet placed.

Online Casinos

The cradle of gambling, as some people call it, is a fast-rising form of betting. Most casino games were social games that people played for recreation, now with a competitive twist. Online casinos make casino gambling more convenient because you don't have to drive to land-based establishments to place your bets.

There are various online casino platforms and several games to play online that offer real money rewards, including:

  • Slots
  • Roulette
  • Blackjack
  • Baccarat
  • Sic-Bo

Visit the best online casinos now and claim amazing sign-up bonuses in the form of free spins and match deposit bonuses. These days, players can also receive no deposit bonuses as a welcome address for joining the casino. 

Poker

Poker is the world's most competitive card game and is commonly played on an international level. It is in such high demand that there are specific sites dedicated to poker alone.

Playing at a land-based poker room can be very intimidating, but online poker allows you to join any table you wish confidently. The end goal is to get the strongest hand value at the end of each hand. There are hundreds of online and live poker tournaments available. Join Bob Casino's Live Tournament today and stand a chance to win a share of the $1500 prize pot every four days.

Live Dealer

The latest trend in the online gaming scene is Live dealer games. Basically, it is the land-based casino brought to players via the internet. Live dealers are professionals trained as online casino croupiers. These live dealers manage the betting tables via a video feed or live chat streaming platform. A variety of card and table games are offered this way to provide you with the authentic casino feel at the comfort of your home. 

Mobile Betting

At the speed of technological advancements, smartphones might soon take over all forms of digital transactions. Just like live betting, mobile betting also involves a vast number of betting websites. You can easily log in to place your wagers without stress. Funding and cashing out from the mobile betting site is made easy and accessible.  Mobile betting also features special bonuses and mobile-specific games.

Exchange Betting

Exchange betting is the first kind of betting that does not involve a sportsbook or casino operator. There are only two kinds of odds here – back and lay. All wagers are placed between bettors, and every time you bet, you are gambling against other bettors who have taken the opposite decision.

Innovative Betting Platforms

New kinds of betting platforms are underway for online bettors. The VR casino is one of the fresh online betting concepts that are gradually making way into the online gambling scene. The thought alone of being able to bet in an augmented reality environment is mind-blowing. Gambling companies are also actively incorporating cryptocurrencies and blockchain instruments. The opportunities seem limitless, and in the not-so-distant future, we will be able to experience the full effect of these online betting innovations.

The Thrill Of Online Betting

Betting is merely predicting or forecasting game results, races, or events where you place wagers on the outcome. In regard to this definition, betting is a broad topic that covers a significant number of various but related activities. They can apply to all sorts of wagers associated with gambling events. 

Critics claim that the thrill of land-based betting is the best, but we beg to differ. Online gaming has so many perks and a lot more betting opportunities. The intensity of live betting is even greater when you have the option to bet while a match is in play, and the live dealer games offer the interactive aspect that is missing in computer-generated games. More so, with mobile betting, players can find thrill anywhere and anytime they want.

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Why You Should Bet Online

The frontier mentality of most people about online betting, in general, is the account of losing money. It is an inevitable outcome, and many don't appreciate that fact. Nonetheless, online betting has significant benefits for those who play right and use the right strategies. 

Multiply Your Cash

The main idea of online betting is to allow bettors to play from the comfort of their homes and win money. Many online betting platforms award various multipliers and bonuses to add value to your initial deposits. The notion of adding more value to your money makes online betting appealing to gamblers who want to make extra cash with their skills of prediction.

Unlimited access

With the internet, distance is just an illusion, and online betting is more fun when you access the website anywhere and anytime to place wagers. This advantage over brick and mortar establishments makes people prefer sitting at home to bet instead of driving to a crowded location to place wagers.

Flexible Betting

Online betting is extremely flexible with betting options. Betting markets for sports often run in the hundreds, and you can bet up until the last minute before cashing out.

Betting Types FAQ

  • Is it legal to practice online sports betting?

    Yes, online sports betting is legal in a number of US states, including New Jersey, and there are over a dozen online sportsbooks available to NJ players.
  • What devices are compatible with mobile betting?

    Androids, iPhones, iPad, and Tablets all support mobile betting. Various other smartphone brands will also support this kind of gaming as long as they have a recent Android operating system.
  • What is the easiest form of online betting for beginners?

    First-time players can engage in any form of online betting. As long as you place simple bets, you can easily navigate online betting sites.