Different betting types and their definitions
Arbitrage –
This is also called ‘Middle’. It means making a combination of bets to ensure a win; if one bet loses, another wins. It carries low or no risk wherein the second bet hedges the first.
Bet to Win –
When referred to a non-team sport, this is a wager on an individual to win an event. The bet is placed close to the start of the event.
Exotic -
A bet other than conventional bets.
Futures Bets –
A bet placed much in advance of the event.
Group Matchup –
Here you can choose how one competitor will perform compared to others in the group.
Hedge –
Hedging is to bet exactly opposite of an original bet so as to make up for the potential loss on the original wager.
Matchup Betting –
This is a bet allowing one individual competing head-on against another individual or a group. The matchup can also be translated player against player on the field or through artificial pairing where all players are trying to win the tournament, but players are artificially "matched up" against each other for betting purposes.
Middle –
In middle you could place separate bets on competing teams wherein, there exists a possibility of winning both bets.
Over/Under Bet Over/Under –
This is a bet on the combined scores or total points scored by both teams in a game.
Parlay Card -
A parlay is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The payoffs in parlay are much higher. However, if any of the bets in the parlay loses, the entire parlay loses.
Proposition Bets or Props -
Additional exotic betting options on major sporting events. For example, betting on which player will score first.
Reverse Teaser -
A parlay in which the line is moved to the bettor's disadvantage in exchange for a bigger payoff.
Round Robin –
This is a series of parlays.
Side -
Betting on a single team to win a game against the spread
Total The total is a number set by a sportsbook for total points to be scored by both teams during a game. Betting overs or unders is referred to as betting totals.
Teaser –
This bet is similar to a parlay wherein a single bet links together two or more individual wagers. The only difference is that it allows you to adjust the point spread of each individual wager. In exchange for the points, you will get less of a return on your bet. Each of the individual wagers must win or the bet is a loss.
