Understanding basic bet types is vital for any punter to maximise their opportunity of making a profit. This article explains three basic bet types ; 1X2, Handicap and Totals. Continue reading to learn more about the different basic bet types.
Basic Bet Types: 1X2
1X2 betting is one of the most common forms of betting and is the simplest way for a bettor to understand the cost of a bet. We can use a hypothetical Champions League game between Borussia Dortmund and Napoli to explain how 1X2 betting works.
If you staked £10 on Borussia Dortmund to win at odds of 4.250, you would win £42.50 - although that would include your initial £10 stake. Therefore your profit would be £32.50. You would win nothing if the result ended in a defeat or draw for Borussia Dortmund.
A £10 bet on a draw would have returned £37.90 (£27.90 profit and your £10 stake); while the same bet on Napoli to win would see you pocket £19.17 (£9.17 profit).
Once you are familiar with 1X2 betting, the next step is to understand how the value in 1X2 odds varies across bookmakers, thus impacting your potential winnings.
Basic Bet Types: Handicap
Betting on the handicap is valuable when one team is heavily favoured over their opponents. To counter the perceived bias in ability, bookmakers offer a handicap to level the playing field.
The handicap is factored into the final score to determine the game’s outcome for the purpose of the bet (which might be different from the actual result).
For example, the handicap for the hypothetical example above might be (+0.5, 2.020) for Borussia Dortmund and (-0.5, 1.917) for Napoli.
If the result was 1-0 to Napoli, bets on Napoli would win as the 0.5 handicap is not enough to change the outcome. This is often called covering the handicap.
If the result was a 1-1 draw, however, bets on Borussia Dortmund would win, as the 0.5 handicap added to their score is enough to tip the match in their favour.
The handicap can also differ by appearing as a split, such as +0.5 & +1 or -0.5 & -1. This takes your stake and effectively places two handicap bets - one at each option. Therefore you can win both bets, just one, or lose both.
Advanced bettors will understand the relationship between 1X2 and handicap betting and how to decide which option offers better value.
Basic Bet Types: Totals
Totals bets are another basic bet type, and a popular alternative to 1X2 and handicap betting. The focus is not on finding the winner of a particular event, but predicting the outcome of game variables (e.g. total goals/runs/points or any other easily quantifiable variable).
Bookmakers offer bettors the option of whether the total goals/points will be either OVER or UNDER their assessment of the game.
For the hypothetical Borussia Dortmund and Napoli example, the total goal mark is set at Over 2.5 (2.080) and Under 2.5 (1.909).
If you bet £10 on the game to have over 2.5 goals and the result was 2-1 (a total of three goals) you would make a return of £20.80 (£10.80 profit), while you would have won nothing had you bet on the goals total to be under 2.5.