Betting can seem complex at first, with so many different types of wagers and odds formats to understand. But once you grasp the basics, it all starts to make sense — and even becomes enjoyable. This beginner’s guide breaks down the most common types of bets, explains how each one works, and helps you choose the right betting strategy for your level of experience.
The Single Bet
This is betting in its purest form: one event, one outcome, one stake. For example, if Manchester United are playing Chelsea and you bet £10 on United to win at odds of 2.50, you’ll get £25 back if they do (including your stake).
Single bets are the bread and butter of betting — perfect for beginners because they’re straightforward and carry the lowest risk. There’s no fancy math, no need to juggle multiple outcomes, and you’ll know your result as soon as the match ends.
Double and Treble Bets
A double bet includes two selections — for example, Arsenal to win and over 2.5 goals in another game. Both selections must win for you to receive a payout. While the potential payout is higher, so is the risk, as the odds multiply. If one loses, the whole bet is lost. A treble bet works in the same way, but with three selections.
Many bettors start to feel the thrill of “multiplying the magic” with doubles and trebles. It’s riskier, of course, but that’s part of the fun.
The Accumulator
An accumulator (or ‘acca’) involves combining four or more selections into one bet. The potential payout can be huge because the odds from each selection are multiplied together. That’s why you often see headlines such as “Man wins £50,000 from a £2 bet!” — they usually hit a perfect accumulator.
But here’s the catch: every selection must win. If you make one mistake, the whole thing will collapse faster than a house of cards. It’s high risk, high reward. Most people place accas for entertainment, hoping for the occasional big win rather than using them as a consistent strategy.
The Each-Way Bet
An each-way bet is actually two bets in one. One part is for the horse (or player/team) to win. The other part is for the horse to place, which means finishing in the top positions (like second or third).
So, if your horse doesn’t win but comes second, you still get a payout, just a smaller one. It’s like betting with a safety net! Although you’ll pay double your stake (because you’re technically placing two bets), your chances of getting something back are higher.
Over/Under Bets
Imagine you’re watching a football match and you can’t decide who’s going to win. You can still place a bet on things like goals, corners or cards.
That’s where over/under bets come in. You predict whether a specific number set by the bookmaker will be exceeded or not. For example:
“Over 2.5 goals” means you’re betting that there will be three or more goals in the game. “Under 2.5 means” you think there will be two or fewer goals.
Both Teams to Score
The Both Teams to Score bet, or BTTS, is another fan favourite. As the name suggests, you’re betting on whether both teams will score during a match.
It’s the perfect bet for those who just want to see goals, no matter who scores them. A BTTS “Yes” bet pays out as long as both sides score, whether it ends 1-1 or 5-3. It’s simple, exciting and perfect for football fans.
Handicap Bets
Sometimes, a match can seem too one-sided. For example, if Manchester City were to play a team at the bottom of the league, the odds on City winning might be so low that it would hardly be worth betting.
In a handicap bet, one team starts with a virtual advantage or disadvantage. For example:
- Manchester City (-1), meaning they must win by at least two goals for your bet to win.
- The underdog (+1) wins your bet if they win, draw or lose by one goal.
Asian Handicap
The Asian handicap is a variation of the standard handicap that removes the possibility of a draw. Instead, it offers outcomes such as +0.5 or -0.75.
For example, if you bet on Arsenal at -0.5, they must win for you to make a profit. If you bet on Arsenal at -1 and they only win by one goal, you get your stake back — it’s neither a total loss nor a win.
Prop Bets
Prop bets are for those who are looking for a bit of fun. Unlike traditional bets, these don’t necessarily rely on the final result — they focus on specific events within the game.
Props add excitement to games that might otherwise feel predictable. They’re also popular for major events such as the Super Bowl, where you can bet on everything from the coin toss to the colour of the half-time show confetti.
Live or In-Play Bets
The days when you could only place bets before kick-off are gone. With in-play betting, you can bet as the match progresses. Odds shift every second, whether after a red card, a missed penalty or a late goal. You can react, adjust your strategy and cash out early if you think you’ve made the right decision.
In-play betting turns watching sports into an interactive experience. It’s thrilling, but it also requires discipline — emotions can run high when every play feels like an opportunity.
System Bets
Finally, there are system bets, which are the more advanced version of accumulators. Rather than putting all your eggs in one basket, system bets spread them across multiple smaller combinations.
Although they sound complicated, the idea is simple: the more combinations you have, the greater your chance of winning, even if not all of your bets win.
Once you learn to mix and match them, betting becomes more about strategy than luck — and that’s when it gets really interesting!