Online Betting Tips | How To Bet Online With Different Types Of Bets!

Online Betting Tips

The online betting world can easily become a very complicated experience if you don’t know what you are doing. Especially if this is your first time placing a bet online. We have decided to bring you these online betting tips and help you out!

How To Bet Online?

We aim to make this guide on how to bet online as easy as it gets. The first thing you should do is choose your online bookmaker.

To do this, you can read our bookmaker reviews on this site and figure out what suits your needs. We are covering great online betting deals UK has to offer.

The next thing you should do, if you want to follow our online betting tips, is to register a new account at the bookmaker of your choice.

Here again, you can use one of our bookmaker reviews since most of them have promo codes that you can use on a specific bookmaker.

Once the registration process is completed, and you’ve made your first deposit, you can proceed to find the sports event to bet on.

Different Types of Bets

The online betting world has changed a lot in the past several years.

There are so many different types of bets now, and if you are new in the online betting community, you can get discouraged easily by all the numbers and systems out there.

What kind of online betting tips would this be if we didn’t cover different types of bets?

To make things as simple as we can, we going to explain some standard bets the UK punters tend to use most often.

Single Bet

A single bet is any bet with a single unit stake.

For example, if you would bet on Juventus to win the game or Arsenal to score over 3 goals, then that is a single bet.

Single bets usually have higher minimum bet requirements like £0.50 up to £1, but they can sometimes be even higher depending on a bookmaker.

Win, Place and Each-Way Bet

When we talked about different types of bets and how it can get a little bit complicated, this is the part that we were talking about so pay attention to the explanation below.

A Win bet is a form of a single bet that will provide you with a return only if your selection ends up first in the sporting event.

Let’s say that you want Arsenal to win the league, that is a Win bet.

On the other hand, a Place bet will get you a return only if your selection finishes in a certain number of predetermined positions.

For example, let’s use Arsenal once again as an example and place a bet that this team will finish the league in the top 3 positions. That would be a Place bet.

And finally, the Each-Way bet is a combination of the previous two bets and to use it properly, you will always need to have two stakes.

For instance, If we place a bet that Arsenal will win the league and we place another stake within that same bet that it will finish in the top 3 places in the league, that is an Each-Way bet.

Accumulator Bet

If you decide to place multiple single win bets and combine them together, that is called an Accumulator bet.

Keep in mind that if you combine two bets that is called a double. Trebles are bets with three betting lines, and any higher number of bets is called accumulator or simply five-fold, six-fold, etc.

The main thing to know about an accumulator bet is that it provides cumulative odds for all of your selections.

These are the basic and most common types of bets that UK punters like to use in the online betting community.

Other Types of Bets

Just to keep you informed, we will mention some more complex different types of bets like:

  • Handicap Betting

Handicap betting is being used in the situations when there is a strong favorite among the contestants in order to make the odds more equal and the game more interesting.

  • Spread Betting

We use spread betting when we want to enjoy some non-fixed odds. It works in a way that a player will get a better reward as closer as he gets to the predicted result.

  • Forecast Betting

The most common sports that we use forecast betting on are horse-racing and greyhound games but it can be used on other sports too. With forecast betting, you can predict, for example, first two places of a race, or first three places, etc. Usually, the forecast bets have higher odds attached to them.

There is a lot more to talk about when we are dealing with different types of bets and the specifics of rules for each betting category.

Before you place your bet make sure to understand the type of bet you are placing, how the odds work for that betting category and also the terms and conditions of the bookmaker you are using.

And since we are mentioning betting odds, keep reading our online betting tips to find out how to read odds!

How To Read Odds?

Probably one of the most important parts of our online betting tips are the betting odds and how to read them.

Odds in betting tell us many things, from how likely is an event going to finish, to how big will your reward be if you predict the outcome correctly.

Odds are, most of the time, going to be presented to you as fractional, eg. 8/1.

However, they can also be presented as decimal odds eg. 2.5 or 1.25. Decimal odds are less seen at the UK bookmakers so we will focus on fractional odds for now.

This is where you start, and with these odds, you can furthermore calculate the probability of event ending one way or another.

How To Read Odds Ratio And Calculate The Probability?

Figuring out what are the chances for a certain event can be calculated based on the odds that are connected to it.

Let’s say, for example, that your odds are 4/1. This can be calculated like 1 / (4+1) = 0.20, meaning that there is a 20% chance this event will come true.

You can use this probability calculation formula for your own odds, just follow this equation for A/B fractional odds:

B / ( A + B ) = %

How to Read Betting Odds And Calculate Winnings?

In order to figure out how big your reward will be if you predict the event correctly, you can use the odds to calculate your potential winnings.

If you have the odds of 9/1, and you bet £1, your winnings will be £9 plus your stake.

Here is the simple formula on how to calculate your winnings with fractional A/B odds:

( stake / B ) * A ) + stake = winnings

And if you want to calculate your winnings using decimal odds, you can follow this formula too:

(odds * stake ) – stake = winnings

Should You Follow The Best Tipsters UK Has To Offer?

Before talking about tipsters there is something you need to understand as a bettor.

Not all tipsters are knowledgeable and for sure not every tipster is placing their bets systematically, so you should never follow them blindly or use them as your betting strategy.

On the other hand, following the best tipsters UK and worldwide is a good idea if you want to learn how to bet and also if you want to find those genuine tipsters in the sports category that you follow.

Following a tipster can also be a good thing if you are having similar betting goals. For example, some tipsters are more oriented toward long-term winnings, some of them are using only a certain type of bets, etc.

A good strategy is to figure out what suits your needs and then join the online betting community until you find someone with similar preferences and more experience than yourself.

Online Betting Tips Conclusion

We hope that these basic online betting tips are enough to get you started as you step into the world of online betting.

Now that you are ready to place your first bet, it would probably be a good idea for you to check our bookmaker reviews and figure out which one is the best for you.

And if there is something you do not understand regarding the betting types, odds or even tipsters, you can always come back here and go through our online betting tips.