This is for you if you want to place just one wager on just one event or market. One stake, one outcome – and you know exactly how much you stand to win if your prediction is correct. This is by some margin the simplest way to place money on a sporting contest.
Placing a parlay bet gives you the chance to win big in return for a small stake. The nature of a multiple bet means that as each selection is proved correct, the winnings roll on to the next pick. You could end up with a handsome payout – but the catch is that if just one of your choices loses, you’re left with nothing.
Now that odds can be changed instantly, operators can give you the chance to keep betting, even when an event is under way. In-play wagering is becoming increasingly popular, helped by the ease and speed with which you can place a live bet through a website or app.
This is a great way of being able to back a favorite at a competitive price. The only catch is that the sportsbook imposes a handicap, by predicting the margin of victory and evening up the odds accordingly. If you believe the favorite will win by more than the stated margin – the spread – you place your wager accordingly.
Another way of betting on a big sports event is to predict the number of times a certain thing will happen – for instance, the total of the teams’ points combined. Your sportsbook will make its own prediction and you then have to say whether the final total will be more or fewer, then back over or under.
Within a sporting event, there are a host of outcomes that can be the subject of a wager – as well as the overall result. Proposition bets relate to these outcomes. You can bet on individual players’ performances, the first team to reach a certain number of goals, points or runs, or the score at a certain point in the game. The list of props can be dauntingly long.