Different bet types and their meaning

If you’re a sports betting beginner, one of the first things you need to do is to get familiar with the different bet types you’ll come across at the bookmakers.

There’s a vast range of markets out there. In this article you’ll learn about the most common bet types and what they mean.

Bookmakers inconsistent naming of bet types

But before we dive deeper and learn about the most common bet types, we’ll have to address the fact that bookmakers can be somewhat inconsistent in naming bet types.

It’s quite frustrating when you’re about to place an arbitrage or value bet, to not even find the correct bet type on the bookmaker website. But the bet type might just be presented with a different name than what you are looking for.

This is because some bet types are referred to differently in different parts of the world. For a sports betting beginner, this can be rather confusing. But with a little practice you’ll soon learn how each bookmaker present their odds.

To bring a little more clarity to this, let’s take a look at the bet types you’ll come across in RebelBetting products and learn their respective interchangeable names.

2-way bet

Also known as Win, Moneyline, Puckline and DNB (Draw No Bet)

A 2-way bet is one of the most popular bet types and is offered in various sports. It simply means betting on a specific team to win a game, match or other event.

The term “win” is used almost everywhere, while “moneyline” is mostly used in the United States and a few other regions. The term “straight bet” can also be used for this type of wager.

3-way bet

Also known as 1X2

1X2 is one of the most popular bet types in soccer. A 1X2 bet involves a match of two teams with three possible outcomes: Home (1), Draw (X) and Away(2). This market may also be known as Full Time Result, Match Betting, or Three-Way Bet.

Asian Handicap

A handicap in betting means that the bookmaker has given a virtual advantage to one of the competitors. The main reason for handicapping is that the draw result is eliminated. With an Asian Handicap, a draw is known as a push and you are refunded part or all of your original wager.

AH0 = DNB (Draw no bet)
Additionally, you can use the level Asian handicap betting market which displays the handicap as 0. If the game ended in a draw, your stake would be returned – effectively achieving the same outcome as a Draw No Bet.

Half and quarter Asian Handicaps
Half and quarter asian handicap is also known as split handicap, because the initial bet is split between two handicaps.

Read more about Asian Handicap betting

European Handicap

Also known as 3-way handicap or 1X2 handicap

European handicap is basically a 3-way bet, similar to a 1X2 match result bet. In matches where there is a difference in strength between the two teams, a handicap is placed on the underdog, to even out the match.

The difference with Asian handicap, is that the EH is always an integer number. Instead of placing an Asian Handicap of -1,5 goals or -1,75 goals, the European handicap is always of a -1, -2, -3 etc. kind.

If you bet on a European Handicap, a draw is possible, but a European Handicap draw can only be achieved if the favorite team matches the goal handicap.

Over/Under

Also known as Totals or Goal line

Over/under bets are typically placed on football (soccer) and basketball games but are common in other sports as well. With over/under bets, all that matters is how many points or goals the teams will score.Who wins the match is irrelevant. Bookmakers will offer odds and set a line at what they estimate the total goals or points in the match is likely to be.

A few examples:
In a football match, if you bet on “over” when the line is 3, you lose your bet if only one or two goals are scored and win if more than three goals are scored. If exactly three goals are scored, your stake will be refunded. Another example: when you bet on ‘under’ when the line is 2.5 and there are one or two goals in the game, you win. If there are three or more, you lose the bet.

Double chance

A double chance bet allows you to cover two of the three possible outcomes in a match with one bet. This type of bet is often offered for soccer games. When betting on a Double chance bet there are three possible options to bet on:

Home or Draw (1X) – Your bet will win if the home team wins or the match ends in a draw. It will lose if the away team wins.

Draw or Away (X2) – Your bet wins if the away team wins or it’s a draw. You lose if the home team wins.

Home or Away(12) – With this bet, you win if there’s a winner regardless of whether it’s the home or away team. Your bet will lose if the match ends in a draw.

Draw No Bet

Also known as DNB or AH(0)

Draw No Bet is a betting market which removes the outcome of a draw on three-way markets, allowing you to bet on either a home or away win. If the game ends in a draw, your stake will be returned.

Additionally, Asian handicap 0 is the same as Draw No Bet, as it also eliminates the option of a draw.

Lay bet

Lay betting is a bet type offered by betting exchanges and is a kind of bet where you bet on something not to happen. With a regular bet (also known as a back bet) you bet on something to happen.

Lay betting basically gives bettors an option to play the role of the bookmaker, offering odds to sell a bet instead of to back a bet. Learn more about Lay betting.

Go here to read more about additional markets (bet types), rules related to markets and what markets are supported in RebelBetting products.