Placing a moneyline bet is sometimes listed as an outright bet. It’s one of the easiest kind of bets and simply requires you to select the outcome of a match, race, event, game, fight, or contest. Moneyline bets stand as the most popular type of bet that’s both promoted and opted on at Canadian sports betting sites.
The most traditional form of betting, a head-to-head bet (also known as two-way bet) is when you bet on the outcome of a match – win or lose. The bet is most commonly only used when it is only two opponents, like say in a tennis or boxing match.
The bet is calculated quite easily as you only bet on one outcome. If you bet C$100 at odds of 5.50, simply use Odds*Stake = Return. So, in this example, you’re C$100 bet would payout C$550, meaning a C$450 profit.
Spread betting certainly holds favour within many different sports, especially CFL and NFL markets. The point spread levels the playing field, making betting on either the favourite or the underdog equally appealing. This is because either the favourite has to win by the margin bet upon, or the underdog has a buffer to lose the game by the same margin – or win outright.
For example: Team A +2 and Team B -2. This means that team B is the 'favourite' and they have to win by more than 2 points. Team B on the other hand is the 'underdog' and 2 points will be added to their score.
When you opt for a straight bet, you will wager on a single game that features a point spread, moneyline, game total, puck line, or run line (depending on which sport). A straight bet must win the game by covering the point spread or by at least tying the game outcome.
Straight bets are common in the NBA, NHL, NFL and MLB.
A parlay bet (also known as accumulator bet) is perfect for those who like a little risk and want to ramp up the sports betting odds. It’s an easy bet – but it’s difficult to win, hence why the payout if often quite large. You select a bet, and then add successive wagers on top of this to create one large bet.
For example: You place your first bet on Game A, and then another on Game B, and yet another on Game C. All these bets must have the correct outcome for you to successfully win your parlay/accumulator bet.
Teasers and pleasers are parlay/accumulator bets, except you can move the point spread on all related games by a fixed amount of points in exchange for a lower potential return. The point spread move can be either in your favour, or against. With teasers, the point spreads move in your favour, and with pleasers they move against.
This type of sports betting is only used by veteran bettors as it is quite complex. Teaser bets are common in the NFL while pleasers are used for football and basketball. Remember, with an accumulator or parlay bet, teasers will shorten the odds, while pleasers will increase the odds.
When you place a system bet, you don’t have to win each leg/event within the wager to walk away with a prize. For example, say you bet on four matched, yet only three results come in. You’ll still make a profit under a system bet, just at reduced odds.
For example: in a 2 out of 3 system bet, you will first place three separate bets. If two of your three predictions turn out to be correct, you will win some money. However, if only one was correct, you will lose. This type of bet is often used for football bets where the underdog can take the win.
Kicking the action level up a notch, in-play betting is based around placing wagers in real-time while a sporting event is in progress. This type of bet gaining more popularity as it’s a great way to bring extra excitement during game play.
For example: a next goal scorer bet is a common wager that’s placed during live NHL games. You simply place your bet on who will score the next goal, and if you were correct you win the bet.