If you are just starting out in the sports betting world, you might want to learn more about the different bets that UK bookmakers offer. Depending on what sport you are betting on, different types of bets come into play. The type of bets offered will also depend on the bookmaker, since not all bookmakers offer full cover bets, for example. In what follows, we are thus going to tell you all about some of the most popular bets that you can place. Of course, the following list is not exhaustive and is limited to UK bookmakers (though we will let you know what some of these types of bets are called in the US as well). While horseracing often calls for multiple selection bets, fixed-odds bets are especially popular when betting on football matches. As such, these are the types of bets that you should be familiar with:
- Win Bets
- Place Bets
- Each-Way Bets
- Single Bets
- Multiple Bets
- Forecast Bets
Win, Place and Each-Way Bets
If you are placing a win bet, you will only be able to reap a return if your selection ends up winning first place. This type of bet is always a single-event bet. By contrast, a place bet allows you to bet on the team or athlete or horse that is going to come in second, third, fourth, etc. as well. You will thus be able to score a return if your selection finishes within the number of places that you have previously determined. If you would like to combine a win and place bet, then an each-way bet is for you. In this type of bet, you cannot only bet on a single event, but multiple events as well.
Single vs. Multiple Bets
As was already mentioned, single bets are always placed on an individual outcome, event or selection. However, multiple bets allow you to bet on a linked series of winning singles, for example. However, keep in mind that this type of bet is accumulative. If one of the selections in your series loses, then your entire bet is lost. In most cases, the return is higher when placing any of the following multiple bets:
If you are betting on two outcomes, this is called double bet. In order for you to score a return on your double bet, both of your selections have to win or you are going to walk away empty-handed. The same goes for treble bets with the only difference being that you are betting on three outcomes or selections. If you are betting on four or even more outcomes, this type of bet is called an accumulator. Once again, you must bet correctly in all instances in order to walk away with a gain.
Forecast Bets Popular in Sports Betting
One of the other types of bets that you are most likely going to come across are forecasts. In this case, it is up to you to forecast the accurate finishing order. In most cases, you will be betting either on the first two or perhaps three finishers or any given race or sports event. In turn, the odds are much higher than in a regular single bet, since it is much more difficult to correctly forecast who is going to come in first and second than who is going to come in first. This type of bet is mainly seen in greyhound as well as horseracing sports betting. Of course, there are different kinds of forecast bets that you can place. As such, you should know what they following forecast bets entail:
- Straight Forecasts
- Reversed Forecasts
- Combination Forecasts
- Combination Tricasts
The Different Kinds of Tricast Bets Explained
If you are betting on who is going to come in first and second in the correct order, then this is considered a straight forecast bet. However, this type of bet can only be placed when there are three or more participants in a race. Otherwise, it would be pointless to bet on who is going to come in first and second. In the United States, this type of bet is referred to as either perfecta or exacta. The reversed forecast is similar to the straight forecast bet, but requires you to make two selections for who is going to come in first and second each. As such, you will be asked to bet on two names for who is going to come in first and two names for who is going to come in second. Of course, the order of your bet matters, which you will thus want to keep in mind. A combination forecast is also similar to a reversed forecast in some important regards. In particular, you will be asked to name two selections for each place. However, instead of only betting on who is going to come in first and second, you might be betting on who is coming in first, second, third, etc.
If you would like to simply bet on who comes in first, second and third without giving two selections for each place, this is called a tricast. Of course, you must make your bet in the correct order if you would like to walk away with a profit. This type of bet is most common when betting on horse races, which consist of at least eight horses. However, in some cases, you will also be able to place a tricast bet when six or more horses are participating. This bet is also popular in the US, even though it is known under a different name. Tricast bets are either called triactor or trifecta bets in Canada and the United States of America respectively. Last, but not least, we would like to tell you about the so-called combination tricast. In this type of tricast bet, you will be asked to make multiple selections for who makes first, second and third place. Since this is a combined bet, you will need to make the correct bet for all of your selections and the order of your selections matters as well. While the odds are stacked against you, your gain will be all the higher if you place a correct combination tricast bet.