Types of bets explained starts with separating a bet’s format, such as a single or accumulator, from its market, such as a moneyline, handicap or total. The format tells you how selections are combined; the market tells you what outcome must happen for the bet to win.
A bet’s format describes how you place or combine selections. Its market describes what you predict, so the same market selection can be a single or one leg of a multiple.
| Named bet or market |
What it describes |
What must happen to win |
| Single |
A format with one selection. |
The chosen selection must meet its market’s winning condition. |
| Accumulator or parlay |
A format combining multiple selections. |
Every leg of a standard multiple must win for it to pay. |
| Moneyline |
A market on which side wins. |
Your selected side must win under the market’s settlement rules. |
| Point spread |
A market that applies a handicap to a side’s result. |
The adjusted result must favour your selection. |
| Total |
A market on combined scoring compared with a line. |
The final score must finish above or below the line, as selected. |
For a football 1X2 market, the possible outcomes are a home win, a draw or an away win. The 1X2 selection is the market outcome, while single or multiple describes how you place it.
For example, a slip might show selection: home win; line: none; odds: 2.00 decimal, or 1/1 fractional; and stake: £10. If the home side wins, £10 × 2.00 gives a £20 total return, including the original stake, and subtracting the £10 stake leaves £10 profit. Answer: the winning slip returns £20 in total and makes £10 profit.
Our sports betting guide gives an overview of common markets and formats, which helps when the terms on a slip look similar but settle differently.
Moneyline bets focus on the winner
A moneyline bet is decided by which side wins, regardless of the margin. It is a useful contrast with a spread, because a moneyline does not require the winner to clear a handicap.
How a draw is treated depends on the market. A three-way market can offer the draw as a separate selection, while a two-way market may use a push or a draw-no-bet rule; read the market terms to see which applies.
American odds of +200 mean a £100 stake would make £200 profit if it won. For £10 at decimal odds of 3.00, equivalent to fractional odds of 2/1 in UK formats, the return is £30 including the stake, leaving £20 profit (£10 × 3.00). Answer: the winning bet returns £30 in total and makes £20 profit.
The Moneyline is the outright-winner market, so the winning margin does not change whether the selected side wins. That makes it distinct from handicap markets, where the adjusted result decides settlement.
Spreads and handicaps add a margin
A favourite with a negative spread must win by more than the stated handicap. An underdog with a positive spread can win outright or lose by less than the handicap and still cover it.
For example, suppose a favourite is listed at -3.5 but wins by fewer than 3.5 points. At a £10 stake and illustrative odds of 2.00 decimal, or 1/1 fractional, the adjusted margin is two minus 3.5, or -1.5, so the selection loses and the return is £0. Answer: the favourite wins the match but the spread bet loses, costing the £10 stake.
On a whole-number spread, an adjusted result that lands exactly on the line can be a push, which usually returns the stake under the relevant market rules. A half-point line cannot land exactly on a whole-number score margin, so it cannot push.
The Point spread is a handicap market: the favourite must win by a set margin, or the underdog must stay within it. American football and basketball commonly use point spreads, while baseball uses the name run line and ice hockey uses puck line for sport-specific handicaps.
The common mistake is to treat an outright favourite win as enough for a spread bet. Compare the final margin with the handicap, then apply the line to the result before deciding whether the selection won, lost or pushed.
Totals and props target scores or specific events
A total, also called an over/under, compares combined scoring with a line set for that market. Over wins when the final score is above the line; under wins when it finishes below.
A whole-number total can push if the final combined score lands exactly on the line. A half-point total avoids that exact-score outcome because a whole-number score cannot equal a line ending in half a point.
A prop bet targets a defined event or statistic, such as a player reaching a statistical milestone, rather than simply predicting the winner. Check the exact statistic, the period it covers and its settlement conditions, since a prop can be decided independently of the match result.
Futures are markets on longer-term outcomes, such as which team wins a championship. Their settlement concerns that competition outcome rather than the immediate result of one match.
Parlays, teasers and round robins combine selections differently
A parlay, commonly called an accumulator or acca in the UK, combines two or more selections into one multiple. Every leg of a standard parlay generally needs to win for the bet to pay, so a bigger potential return does not mean the bet is more likely to win.
The Parlays market description captures the key rule: every leg must win for the parlay to pay. A losing leg usually settles the standard multiple as a loss, subject to the rules for void or postponed selections.
A teaser combines selections while adjusting handicap lines in the bettor’s favour. The changed lines and the odds offered for those lines determine what must happen for the teaser to win and what it returns.
A round robin splits selections into smaller combinations rather than placing them all in one standard multiple. Some combinations can win even if one selection loses, but the round robin contains more bets and needs a larger total stake than a single multiple with the same stake per combination.
83% of bettors say they enjoy betting small amounts on parlays, futures or other bets that pay a lot more than they bet if they win.
Source: Siena Research Institute
Horse-racing bets cover winners and finishing positions
In horse racing, a win bet needs the horse to finish first, while a place bet needs it to finish within the places specified for that race. The number of places and the terms for each race affect how a place selection settles.
An each-way bet combines a win bet and a place bet, with the stake split between those two parts. The place part pays at a stated fraction of the win odds, and both the place fraction and the number of places can vary.
A straight forecast predicts the first two finishers in the correct order. A reverse forecast covers both possible orders for the two selected horses, so it contains two forecast combinations.
Race conditions, including dead heats, can change how a return is calculated. Our horse-racing betting guide covers the racing context, but the applicable place terms and settlement rules determine the outcome of an individual bet.
Live bets, futures and settlement rules need context
Live betting, also called in-play betting, takes place after an event has started. The score, time remaining and other conditions can change the available odds and markets, so assess the current match situation rather than relying only on pre-match assumptions.
A future or outright bet concerns a longer-term result, such as the winner of a competition, rather than a single event’s immediate outcome. It may remain unsettled until that competition has reached its result.
Ties, pushes, voids and abandoned or shortened events can all affect settlement, and the rules vary by sport and market. A tied result can be a winning selection in one market, a push in another or a void under particular circumstances; the market rules determine how it is treated.
Treat betting as entertainment rather than a way to make money, set a spending limit you can afford and stop when you reach it. That keeps the stake separate from the market question of what must happen for a bet to win.
A quick check before placing a bet
To make sense of types of bets explained on a slip, identify the format first, then the market, selection, line, odds and stake. Work out the settlement condition before considering the possible return, and remember that the examples above explain mechanics rather than recommend a selection.
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