For newcomers the world of betting, both in a bookmaker’s shop and on online betting sites, can be quite confusing. Understanding the different betting options is vital if you are planning to make money back from your bets. A straight win/lose bet may seem like the most straightforward option, but there will be times when a more complex wager will prove to be a wiser, and more lucrative, choice.
Straight win/lose bets are often referred to as ‘proposition bets’, which are popular in football betting, or for any wager that depends on the outcome of a match. This may not be just a bet on which team will win, but can cover other outcomes, such as which player will score the most goals or how many goals one team will get.
However, another common betting option is a ‘parlay’, which is basically a wager placed on the outcome of other wagers. Here a bet is placed on a number of results, and should they all turn in the bettor’s favour, the win will be substantially higher. Progressive parlays operate in a slightly different manner and can result in a win even if all the bets don’t come through. The odds for progressives, however, are much lower.
Spread betting is also well worth considering for newcomers to gambling, and focuses more on the accuracy of the bet rather than the final result. A range of outcomes, known as the ‘spread’, is set and a bet can be placed on whether a result will fall in or out of the spread.