Punters can bet on their favourite sports in several different ways. It doesn’t matter whether you enjoy betting on football, horse racing, tennis, or rugby union, there are lots of ways to get more bang for your buck.
For instance, instead of risking your cash on a fixed-odds market, you could visit a betting exchange instead.
Bonusbets.com suggests that live markets are also extremely popular amongst bettors. They allow you to place a wager after the event has started.
If you wait until the halftime whistle is blown during a football match, for instance, you can get higher odds providing the scores are level. During this guide, we’ll look at the different ways you can bet on sports.
Fixed-odds betting
This is the most popular form of betting. If you place online wagers regularly, you’re probably using the fixed-odds format. This allows you to agree on a price with the bookmaker before an event starts.
You could bet on Harry Kane to score first for Tottenham or New Zealand to win their Rugby World Cup match.
If your bet wins, the bookmaker will payout at the agreed price. For instance, a £20 bet on a 2.00 market would return £40 and so on.
Depending on where you reside, the odds will be presented in fractional or decimal formats. Fixed-odds betting is simple and easy to understand. What’s more, it’s particularly appealing if you’re a novice.
However, that doesn’t mean that it’s the best way to maximise your profits.
In-play betting
Live betting is another fantastic option. It allows you to see how a game is unfolding before staking your money.
If Man Utd are playing Man City at Old Trafford, for example, you might wait until 20 minutes have passed before placing your bets. This gives you plenty of time to study each team’s performance. If you don’t like what you see, you can adjust your strategy.
Hundreds of online operators have a live betting platform. However, remember than an event can change instantly.
If Roger Federer wins the first set against Rafa Nadal at Wimbledon, the odds will swing in his favour. This could result in you getting a much lower payout. Keep a close eye on the game and place your wagers when you feel the time is right.
Exchange betting
If you want to go head-to-head with other punters, you’ll enjoy exchange betting. This format allows you to buy and sell bets at whatever prices you like.
Major exchanges like Betfair and Smarkets are incredibly popular as bettors can often find larger odds. The exchange takes a small percentage for setting the bet up. The rest is yours to keep.
We’d recommend reading a few guides and familiarizing yourself with the site before you start using it. Exchanges are completely different from traditional bookmakers.
If you don’t fully understand what you’re doing, you might lose money. However, if you have plenty of experience, you can build your bankroll significantly.