Types of Bets
With modern bookmakers and exchanges offering a wide range of betting markets, understanding the different types of bets is essential for making informed decisions.
Find out about the different Types of Bets
Betting markets have evolved significantly. What was once limited to basic options such as 1X2, totals, and double chance has expanded into a wide range of specialised markets.
Modern bookmakers and exchanges now offer hundreds of betting options, making it important to understand how each market works.
MadMarket is designed to give bettors access to a wide range of markets and pricing options.
The sections below explain the main types of bets available and how they work in practice.
Types of Bets at MadMarket
If you have used a betting exchange before, you will recognise that MadMarket combines key features from leading platforms in the market.
Modern bettors also expect a wide range of betting options, with bookmakers and exchanges offering increasingly diverse markets to stay competitive.
Moneyline Betting
Moneyline betting is one of the simplest and most common types of bets, where you predict the outcome of a match.
In most sports, this includes a home win (1), draw (X), or away win (2), often referred to as the 1X2 market.
This market is widely used and forms the basis of most betting strategies.
Understanding these markets is also important when applying a value betting approach.
Spread Betting
Also known as handicap betting, spread betting is designed to balance the difference in strength between two teams or players.
By applying a handicap to one side, the market creates a more even contest and offers more competitive odds across both outcomes.
Totals Betting
Totals betting, also known as over/under betting, involves predicting whether the total number of goals or points in a match will be above or below a set line.
This market is driven by statistical analysis, with bettors often using team data, form, and historical performance to assess the likelihood of the total being over or under the line.
Parlay Betting
Parlay betting involves combining multiple selections into a single bet, with all outcomes needing to win for the bet to be successful.
These bets are popular due to the higher potential returns, although the level of risk also increases with each added selection.
You can also use a parlay calculator to understand potential returns and assess different combinations.
MadMarket supports parlays across multiple sports and markets, including system betting options.
Teaser Betting
Teaser betting is a variation of parlay betting where the bettor adjusts the spread or totals line in their favour across multiple selections.
In return for this advantage, the overall odds are reduced. All selections must still win for the bet to be successful.
Teasers are most common in US sports, but many platforms, including betting exchanges, now offer similar options.
Proposition Betting
Proposition betting refers to wagers on specific events within a game that do not directly determine the final result.
Common examples include the next yellow card in football, the next points scored in basketball, or the next home run in baseball. These markets are often available in-play and offer a wide range of betting opportunities.
Platforms such as MadMarket offer a wide range of in-play proposition markets.
Futures
Futures betting involves predicting the long-term outcome of a competition, such as a league winner or tournament champion.
These bets are typically placed before or during a season and can take weeks or months to settle. Futures markets also allow for multiple selections, where bettors combine predictions across different competitions into a single bet.
Live Betting
Live betting, also known as in-play betting, allows you to place bets while an event is in progress.
Odds are updated in real time based on the flow of the game, giving bettors the opportunity to react to key moments and changing conditions. Tools such as cash-out can also be used to manage risk by securing profits or limiting potential losses.
Platforms such as MadMarket offer fast execution and a wide range of in-play markets.
Different types of Sports Betting
MadMarket provides access to a wide range of sports and betting markets, offering options suited to different levels of experience.
FOOTBALL offers one of the widest ranges of betting markets, from major leagues such as the Premier League, La Liga, and the Champions League to smaller competitions worldwide. Bettors can access a variety of markets, including match result, totals, handicaps, and a wide range of in-play options across thousands of matches each day.
TENNIS betting covers major tournaments such as Grand Slams, as well as Futures and Challenger events. Markets typically include match winner, set betting, totals, and in-play options, with fast-paced pricing changes throughout each match.
BOXING betting is centred around major fights, with markets including fight winner, method of victory, and round betting. Both pre-fight and in-play options are available, allowing bettors to react as the fight develops.
GOLF betting spans major tournaments, tours, and championships, with markets including outright winners, each-way bets, and round-by-round options. The format allows for both long-term and event-based betting opportunities.
HORSE RACING offers a wide range of betting types, including win, each-way, and more complex bets such as accumulators, trifectas, and exactas. Markets are available across major meetings and daily racecards, providing consistent betting opportunities.