A great spectrum of sports betting markets is available in land-based and online bookmakers. But the main thing is not to get lost in this variety. So before going any further, let’s take a closer look at the intricacies of these markets in sports betting to know what to expect from them.
What are Betting Markets?
Typically, any market type can be considered a trade. And this is also the case in the betting world, where buyers and sellers try to negotiate prices and finally make a trade. But instead of prices, bookmakers set odds for each match that people can wager on. Each sporting event, in turn, has many different outcomes. Thus, there are a lot of betting markets (options) for a given event, allowing bettors to choose one that suits their needs most. At GGBET, you can find multiple options to wager on.
How Do They Work?
The odds for each betting market vary and depend on the probability of the event. Typically, less risky matches come with lower odds than riskier ones. That’s a given. But the key point is that all sportsbooks flow markets by shifting the odds and placing max wagers on some outcomes for a given match. It happens because bookies possess the relevant information, including the variables like:
- weather conditions;
- the opinions of sharp bettors.
It works the other way, too. For example, if sharp bettors don’t wager on some options, bookies don’t have time to make sure whether each market is well set, so they set low limits on such bet types. This is the main reason why some betting markets are less efficient than the others.
Top 3 Options to Choose
The variety of sports betting markets is diverse and usually exceeds the number of 200 types per match. That said, you can always stick to the most standard options available for all sporting events. Here are the top 3 betting markets explained in more detail.
It is known as the most popular betting market, where you should simply decide a winner of a game and pick a side. A moneyline bets appear in every sportsbook like a 1×2 outcome, and usually offers three options as follows:
- 1 or W1 – a win for the first team.
- X – a draw, when the game ends in a tie.
- 2 or W2 – a win for the second team.
In case your selected team is a winner, the bookmaker will return the stake plus the winning amount to you. If your bet losses, the bookie will keep your stake. And if it ends in a tie (football, basketball and hockey), you will get your stake back.
If an upcoming match is between a clear favorite and underdog team, then the moneyline will have a gap in chances of winning. Therefore, bookmakers offer spread points (handicaps) by creating an artificial advantage or an acceptable gap for one of the teams. So if you wager on it, you will cover the expected score difference between the two teams.
Spread points are indicated by both minus or plus numbers. For example, if the spread is 8, you’ll see the favorite team with the negative number (-8) and the underdog one with the positive number (+8).
If you bet on total (aka over/under) points, you try to predict whether the score will go over/under the amount set by a bookmaker. Total points may refer to the score of a game, the individual team, or the player score.
What Betting Market is Better to Choose?
To find the best betting value, decide how you think the game can go. So try to predict an upcoming match outcome by analyzing the team’s recent performance, previous head-to-head meetings, and the players’ conditions. Do you think the game is going to end at a high rate or be rather tight?
Once you make it clear what to expect from the game, pick the market that suits your wagering needs most. Also, pay close attention to wagering limits. For example, if you are a high roller, stick to the most popular markets with big limits like match winner, total score, or point spread. On the other hand, if your bankroll is not that large, you can take the option of proposition bets.
How to Place a Bet
Once you find the right betting market for a selected game, head to the bookmaker to place a wager. For this, you need to:
- Choose the sport you fancy a wager.
- Search for the match of your desire.
- Select the right betting market.
- Click the odds for this option.
- Enter the stake amount and place a bet.
Afterward, enjoy the game and track your bet during it.