Betting Markets

One of the most important things bettors need to know before they start gambling is betting markets and how they work. Sports betting markets are the unique outcomes that bettors are putting their money on. There are many different kinds of markets, each offering a different type of outcome for bettors to bet on. In this guide, we’ll explore and compare betting markets and provide insight into what they are and how they work. Ready? Let’s get started.

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Betting Markets Explained

Betting isn’t as simple as picking a team to win. While there is a betting market for that, this is only one of many different options that bettors can choose from. There are numerous types of betting markets, each providing a different outcome for bettors to place their money on. Understanding what they are and how they work will allow you to benefit and win big while sports betting.

How Do Betting Markets Work?

Every sporting event is broken into different markets. The markets will all pertain to a different aspect of the sport or event. A game can have a massive amount of markets for just one event. These all cover different areas of the game and will have different odds attached to them. Bettors can bet on one market or many. There are also several betting sites that allow users to parlay bet multiple betting markets for a single game.

How to Use Betting Markets

Here is how you can use betting markets to start betting on different outcomes.

  1. Create an Account with the Sportsbook of your choice
  2. Browse their Sports section to find the sport you want to bet on. Click on the sport, league, and game of your choice to see the markets.
  3. Look at each of the different market sections, and see if any stand out. Make sure you are familiar with the market you hope to bet on, or else you might accidentally bet on something you don’t want to!
  4. Click on the odds associated with the market you want to bet on, and input how much you want to bet on the bet slip.

Betting Market Strategies

If you want to use the different types of betting markets to your advantage, having a strategy in place that enables this is important. Always be cautious with your betting picks and try and seek out value first and foremost. Utilizing different markets to your advantage is a great way to start winning big when betting. Let’s look at some different strategies for winning with markets.

  • Search for the Edge: This is a simple piece of advice all bettors should know. Finding the edge when betting is extremely important. If none of the odds you see are bettor friendly, browse different markets to see if there are any outcomes being overlooked. Shop for odds by comparing them on different sportsbooks and find an edge that benefits you.
  • Avoid Props Based on Luck: Props are a great way to earn some money but be careful betting on props based entirely on luck. These include which team wins the opening tip-off, who wins the coin flip for an NFL game, and which player scores the first touchdown. These are markets that are almost entirely determined by chance.
  • Moneyline Heavy Underdog Bets are High Risk, High Reward: Betting the heavy underdog on the Moneyline is a risky endeavor, and it is a trap many bettors fall into when chasing value. A smarter strategy may be betting the point spread on the heavy underdog, so the range of outcomes that allow you to win is larger.
  • Research Matchups for Player Props: Player Props can pose huge results for bettors if they do their research. If you are betting on an NBA or NFL player, look at the defenses they are playing. If Steph Curry is going against a team that struggles to defend the three, putting some money down on his three-point total may be a smart decision.

Why does choosing the right betting markets matter? 

Choosing the right betting market is important because it determines what you need to happen. If you bet an underdog on the Moneyline, that team needs to win for your bet to cash. If you bet an +5.5 underdog on the point spread, that team only needs to keep the game within five points for your bet to cash. These are important differences. Each market also has varying payouts, so you can win more or less by betting on certain markets.

Frequently Asked Questions

Sports betting markets are the different outcomes within a game or a league that bettors are placing bets on to occur or not occur. They cover different aspects of a sport, like whether a team will win a game or whether a player will win MVP.

The most profitable betting markets are likely bets placed on the Over/Under line. While there isn’t any foolproof betting market, as all have inherent risks, an over/under bet is one where research into form and recent performances can give excellent insight and where the odds are around 50/50.

The safest betting market is called Double Chance. This is when bettors get to pick two of the three potential outcomes in a game like soccer, where ties are in play. So bettors can pick Team A and a tie, Team B and a tie, or Team A and Team B as their two potential outcomes. It is low risk, low reward.

The most expansive betting market is game props, where some sportsbooks carry hundreds for a single game. The most popular of the betting markets is Moneyline, which is simple and easy to understand.

Yes! Every betting market has different payouts, although it all depends on what they are covering. A Moneyline bet will typically pay out higher on an underdog than a Point Spread bet on an underdog. However, a Point Spread bet on a favorite will pay out higher than a Moneyline bet on a favorite most often. It all depends on the market and the teams playing.

Conclusion

Betting markets are one of the core parts of a gambling experience. Regardless of how many years you have been gambling, understanding the intricacies of these is important to your success. There are countless different kinds of markets, each offering some potential edge to users. It is up to you to find the one that works best for you.