online betting Canada

Understanding Betting Types

Online sportsbetting has become an increasingly popular activity in recent years and in Canada there are a number of sportsbooks that accept wagers from local bettors. Betting can be as simple or as complex an affair as you choose to make it and as there are so many markets available online and so many different types of wagers, the possibilities are almost endless. Aside from the simple types of bets whereby you’d select who you think will win a game, match or tournament, there are a myriad of betting types that can be enjoyed. Some of the most common betting types are explained here in an effort to give you a better idea of what wagering opportunities await.

  • Moneyline bets are simple bets that do not have a handicap or a spread. The underdog will always have greater odds than the favoured team and taking a chance on the less likely winner can pay off tremendously.
  • Spread betting refers to bets that are made against the spread or line. The spread is a number that is assigned by the bookmaker which sees one team handicapped and another favoured. Spread betting is particularly common at online betting Canada sportsbooks and punters need to understand how it works in order to benefit from it.
  • Proposition bets are those which are placed on a very specific event that occurs during a match. The number of goals scored or the amount of runs a baseball player makes are both examples of prop bets and these types of wagers can also relate to comparison bets, whereby a punter bets that one team will reach a specific goal over another.
  • Future bets are long term wagers that have to reach a conclusion such as the end of the NFL season in order for them to pay out. A great example of a futures bet is wagering on the winner of the Super Bowl and many punters love the long shots that can be taken and the odds available when they wager way in advance. As the Super Bowl must eventually reach its conclusion and a winner determined, these bets will have a cut off time and it’s up to the bettor how far ahead of time they wish to place their wagers.
  • Head to head bets are a favourite of Formula One fans and other sports where competitors compete against each other and a bettor wagers on the outcome of the rivalry, rather than the outcome of an event. In Formula One you can bet on where drivers will place on the podium or who will get pole position, and if correct your head to head bet can be very lucrative.
  • Parlay bets involve multiple bets and can be incredibly rewarding. These bets will see several bets placed on a game or event and only if a punter predicts all outcomes successfully will they receive a payout. Generally up to 12 bets are placed at any one time, but as few as 2 or 4 may be an option for the less adventurous.
  • In play betting is a very exciting option and it’s offered by some of the biggest and best sportsbooks online. In-play bets are placed whilst a game is in progress and are the high- adrenalin option for those who like a little bit of a thrill.

These betting types are just some of the most common options available online and if you get a handle on these you’ll be well on your way to some potentially big wins.