Betting Types

For Beginner
Sports betting options on laptop

Sports betting online is now more popular than ever, thanks to the ever-increasing number of new sportsbooks appearing on the web. As a result of the increased competition between sports betting sites, bettors have a far wider range of betting types to choose from.

Not only can you now enjoy a far wider range of sports types to bet on, you can fully explore the potential offered by each one, with betting types to suit every level of player. If you are new to the world of online sports betting, knowing which bets to go for can be both confusing and intimidating.

Our simple and easy to understand guide to sports betting types, we’ll show which betting types are the best to start with as a novice, and which bets will take your sports betting to the next level. We break down all of the most popular betting types, so you that you’ll always be able to pick the perfect bet for every occasion.

Betting Types Quick-Facts

  • Different betting types can be applied to different markets.
  • Single bets are ideal for novice sports bettors.
  • 2 Way and 3 Way bets are easy to use in most sports.
  • Accumulator bets can produce high odds.
  • System bets are ideal for serious or professional sports bettors.
Player watching a Screen with list of Sports betting odds and options

Betting Types Breakdown

The real beauty of modern online sports betting, is that you have a host of options at your fingertips. Whether it takes the form of specific sports strategies, or different types of bets, you have the power to jump in on virtually any sporting event, market, special or odds that come your way.

To make betting easier, top sports books divide their betting options into various types. These can be based on the type of sport as well as based on what the sports book is prepared to offer. The following guide breaks down the most popular betting types available at our recommended sports betting providers.

We detail the characteristics of each betting type and look at relevant advantages and disadvantages. You’ll see overlaps in certain betting types and see how basic betting types can transform into more complex ones, offering higher levels of potential profit when you are ready to take them on.

2 Way Bets and 3 Way Bets

Tennis on grass - Wimbledon

2 Way bets and 3 Way bets are very closely related. In fact, the 3 way bet is essentially an expanded version of the 2 way bet. In both types, the bet is applied to events that involve individual players or teams of players.

In the case of the 2-way bet, you have two basic options to choose from, while the 3-way bet gives you three different choices.

As is implied in the name, the two-way bet only has two possible outcomes for any event:

1. Team A wins

2. Team B wins

This beauty of this simple bet is that it gives you a solid 50-50 shot at winning your bet as there is no third option to concern yourself with. The third option relates to a possible draw, which is why you will most often find the 2-way bet in sports such as volley ball and tennis. Both of these sports require an outright winner.

On the other hand, the ­3-way bet adds in the third option of the tie result. In other words, your options now expand to include:

1. Team A wins

2. Team B wins

3. Both teams tie

You will find this betting type most often in sports such as football (soccer) and handball, where a game can end in a draw.

The way in which the three-way bet is most often expressed is as follows: 1 X 2

Since you now have the additional option, the potential win percentage of the 3 way bet is reduced to 33.3%, not as high as the 2 way bet, but with higher odds and more functionality.

Single Bets

Baseball Hit

The single bet is the easiest of all sports bet types and is usually the best place for novice bettors to begin from. As the name suggests, you simply pick a single betting option and go with it. The most common form of a single bet is whether a team or player will win (or lose), but single bets can be made in almost any market.

A common example would be a bet in the form of a question.

For example:

Will Player A score in the first half?

1. Yes

2. No

Single bets are easy and can be a lot of fun to make. The only down side to the single bet is that it usually features low odds, because it is an easy and relatively safe bet to make. This also means that your profit potential will be fairly low too.

Accumulator Bets

Dollars coins

Accumulator bets take the single bet and expand on its potential by combininga number of single bets into one big bet. While accumulators are generally best if you have gained some experience with betting on sports, you can learn to use them right away too.

Accumulators, also know as ACCA’s, offer you significantly higher odds which translate into higher potential profits. Each bet is stacked on top of another, with each bet’s odds multiplied together. The beauty of accumulator bets is that you can line up a huge profit with a relatively low outlay (capital).

However, the downside to the accumulator bet is the risk involved. For an accumulator to pay off, you need to have every leg of your accumulator win. This is why you’ll find many sports betting sites will offer some sort of ACCA Insurance, where you can get cash back if one of your legs loses. You’ll find accumulator bets across a wide range of sports including soccer, horse racing, basketball, American football and more.

The System Bet

Betting on a phone and taking notes

Just like a 3 way bet will take the 2 way bet to the next level, the system bet does the same for the accumulator bet. System bets work as an extension of accumulator or combination bets by adding several different sets of combinations together. There are all sorts of system betting options available at top sports betting sites.

System bets are generally recommended for experienced bettors who know what they are doing. One of the biggest advantages that system bets have over accumulators, is that you do not need to get all your bets correct in order to win. The system bet option can be selected once you have made placed your bets in your bet slip.

Advantages and Disadvantages of Betting Types at a Glance

Betting Type Advantages Disadvantages
Single Bet Easy to make Great for beginners High chance of winning Low risk means low profits
Accumulator Stack bets to create bigger potential profits Accumulators offer more flexibility over different sports High risk as all legs must win in order for the bet to payout
System Bet Safer than the accumulator bet as not all legs need to win in order for a payout Higher profit potential than accumulators Very advanced and not designed for beginners  

Betting Types FAQ

  • As a novice, what betting type should I start with?

    If you’re just starting out, it is advisable to get your feet wet with single bets first. These can also take the form of simple 2-way bets, or slightly more complex 3-way bets.
  • Which betting type will give me the highest profits

    If you are looking for bets that can potentially really push up your profits, accumulators and system bets are the best options to go with. However, while accumulators require all legs to win in order to claim the payout, system bets are less risky since they do not require all your bets to be right.
  • Can I combine bets together?

    Yes, you can. Accumulator bets and system bets are usually made up of other betting types such as single bets. However, it will depend largely on the actual betting provider how you can go about combining bets and which ones are eligible for combined betting.
  • What is a 2 of 3 or 2/3 bet?

    A 2 of 3 or 2/3 bet is a type of system bet where there are three bets to be made and at least two of those bets must be correct to win. In system bets, the first number represents the number of bets needed to be correct, while the second number represents the total number of bets submitted.
  • What do special bets mean?

    Special bets are offered by most good sports betting sites and feature a range of markets in non-sports related fields such as arts and entertainment, the weather, business, politics, celebrity gossip and so forth. You will also find a range of special markets in popular sports such as football, where you can bet on who will receive the first yellow card of the game, who will score most goals, first corner and so on.

Final Thoughts: Betting Types – Find the Perfect Type for You

As you can no doubt tell by now, there is truly a perfect bet for all levels of experience and skill as well as ultimate goals. If you are new to sports betting, starting out by experimenting with various single bets is the best way to go. However, as you progress in your sports betting, branching out with accumulator bets or system bets is certainly going to enhance your overall enjoyment of sports betting. After all, experimenting with different betting types is what leads to ultimate success (and profits) and what better place to start than with one of our recommended sports betting sites?