One of the oldest and most bet on sports in history is horse racing (such as events like the grand national).
Much of the betting terminology found in many sporting markets offered by online bookmakers and sportsbooks can be traced back to it.
In general, there are three main types of sports bet that are available to a bookmaker; these can be broken down into win singles (or each way), combination bets and, finally, multiples.
With the exception of companies such as BetFair (who operate betting exchanges as opposed to being bookmakers), bookmakers will offer odds on a certain sporting event, with a punter accepting the odds when they choose to take the specific bet.
The win single in the most popular and commonly placed type of sports bet; in this bet, the punter is wagering on the fact that a certain horse (team, sportsperson, club, etc) will win the event that is being bet on.
The bookmaker will quote a price for this outcome, such as 5/1, with the punter receiving 5 times the amount back (plus their original bet) if the horse wins.
For example, if the punter bet £10, then it would be: 5 x £10 = £50 (£10 original bet), giving the punter a total of £60.
Each way bets are very popular within horse racing; they give punters a return on their bet, not only if the horse wins, but also for placing (i.e. comes in the top four).
Although, in reality, this is actually two bets: one for the horse to place and one for the horse to win.
Combination bets merge single bets together. This form of betting is extremely hard to get right, as it produces some very high odds.
All the single bets within the combination have to win for the bet to pay out; but they can be extremely lucrative due to their increasing odds.
Much of the betting terminology found in many sporting markets offered by online bookmakers and sportsbooks can be traced back to it.
In general, there are three main types of sports bet that are available to a bookmaker; these can be broken down into win singles (or each way), combination bets and, finally, multiples.
With the exception of companies such as BetFair (who operate betting exchanges as opposed to being bookmakers), bookmakers will offer odds on a certain sporting event, with a punter accepting the odds when they choose to take the specific bet.
The win single in the most popular and commonly placed type of sports bet; in this bet, the punter is wagering on the fact that a certain horse (team, sportsperson, club, etc) will win the event that is being bet on.
The bookmaker will quote a price for this outcome, such as 5/1, with the punter receiving 5 times the amount back (plus their original bet) if the horse wins.
For example, if the punter bet £10, then it would be: 5 x £10 = £50 (£10 original bet), giving the punter a total of £60.
Each way bets are very popular within horse racing; they give punters a return on their bet, not only if the horse wins, but also for placing (i.e. comes in the top four).
Although, in reality, this is actually two bets: one for the horse to place and one for the horse to win.
Combination bets merge single bets together. This form of betting is extremely hard to get right, as it produces some very high odds.
All the single bets within the combination have to win for the bet to pay out; but they can be extremely lucrative due to their increasing odds.
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