Bet Types Explained for Beginners

If you’re new to the world of betting in South Africa, welcome aboard! It might seem like a maze at first, with all those bet types and odds thrown at you like a complicated puzzle. But don’t worry — understanding the basic bet types is simpler than you think, and once you get the hang of it, you’ll feel confident placing your bets like a pro. In this guide, we’ll walk you through the most common bet types used by South African bettors. Whether you’re betting on soccer, rugby, horse racing, or any other sport, knowing the difference between bet types will give you a better shot at making smarter decisions and hopefully, winning more often.

What Are Bet Types and Why Do They Matter?

Bet types refer to the various ways you can place a wager on a sporting event or competition. Think of them as different styles or approaches to betting, each offering a unique way to predict what might happen. Just like how you might choose different flavors of ice cream depending on your mood or preference, bet types give you options to suit how you want to engage with the game. Some bet types are straightforward — like simply picking who will win — while others add layers of complexity, involving more specific predictions or combinations of outcomes. This variety makes betting more interesting and allows bettors to find approaches that fit their knowledge and appetite for risk.

Why does understanding bet types matter? Because the way you bet directly affects your chances of winning, the size of potential rewards, and how much risk you are exposed to. If you blindly place bets without knowing the differences, you might miss out on better opportunities or, worse, take on unnecessary risks. For instance, some bet types have higher odds but are harder to win, while others are safer but offer smaller payouts. Knowing which bet type fits your betting style can save you money and improve your overall experience. It’s about working smarter, not harder.

Your choice of bet type should also be influenced by your knowledge of the sport you’re betting on. If you’re deeply familiar with soccer, you might be comfortable placing bets that involve specific player performances or in-game events. However, if you’re just starting out or less confident, sticking to simpler bet types like moneyline bets (picking a winner) can help you learn the ropes without getting overwhelmed. The more you understand how each bet type works, the better you can apply your insights and strategies to improve your chances.

Ultimately, selecting the right bet type comes down to your personal betting goals and your willingness to accept risk. Some people enjoy the thrill of high-risk bets with the possibility of big payouts, while others prefer steady, smaller wins that add up over time. By understanding bet types, you empower yourself to make informed decisions that align with your goals. This knowledge helps you tailor your betting experience to suit your style, making the whole process more enjoyable and potentially more profitable.

Understanding Basic Bet Types

Before diving into the nitty-gritty of betting, it’s important to get comfortable with some basic concepts that will help you understand all the different bet types out there. Betting isn’t just about picking who will win or lose — there are many ways to place your wager, each with its own rules and opportunities. Understanding these basics is like learning the alphabet before writing a story; it sets you up for success.

• Win/Draw/Win (Moneyline): Betting on the outcome of a match — which team will win or if it will end in a draw.
• Over/Under (Totals): Betting on whether the total goals or points scored in a game will be over or under a number set by the bookmaker.
• Both Teams to Score (BTTS): Predicting whether both teams will score at least one goal during the match.
• Correct Score: Betting on the exact final score of the game.
• First Goalscorer: Wagering on which player will score the first goal in the match.
• Half-Time/Full-Time: Predicting the result at half-time and the final result of the game.
• Handicap Betting: Giving one team a virtual advantage or disadvantage to balance the odds, making betting more even when teams differ greatly.
• Draw No Bet: Betting on a team to win, but if the match ends in a draw, your stake is returned.
• Double Chance: Covering two of the three possible outcomes (win, lose, draw), increasing your chances but lowering the odds.
• Accumulator (Parlay): Combining multiple bets into one; all selections must win for the bet to pay out.
• Each-Way: Common in horse racing, it’s a bet split into two parts — one for the win and one for placing in the top positions.
• Futures (Outrights): Betting on the overall outcome of a tournament or league, such as who will be champion.
• Prop Bets (Proposition Bets): Bets on specific events within a game, like number of corners, yellow cards, or individual player performance.
• In-Play (Live) Betting: Placing bets while the match or event is happening, with odds that change in real time.
• Asian Handicap: A version of handicap betting that eliminates the possibility of a draw, offering more nuanced odds.
• Margin of Victory: Betting on how much one team will win by, such as by 1-5 points or more.

Moneyline (Win/Draw/Win) Bets

Point Spread Betting

Point spread betting is a popular way to make sports betting more balanced and exciting, especially in games where there’s a clear favorite and underdog. This type of bet is common in sports like rugby and basketball, where the skill and strength difference between teams can be significant. Instead of just betting on who wins or loses, point spread betting adds a layer of challenge by requiring the favored team to win by a certain margin. This levels the playing field, making bets more competitive and engaging for everyone involved.

The basic idea behind point spread betting is that the bookmaker assigns a points handicap to the favorite team. This handicap represents the number of points the favorite must win by for bets on them to succeed. For example, if the Springboks are favored by 7 points in a rugby match, they need to win by at least 8 points for a bet on them to pay out. If they win by exactly 7, the bet is often a push, and your stake is returned. This system encourages bettors to think beyond just who will win and focus on how much they will win by, adding depth to the betting experience.

Using point spreads also helps balance the odds between the two teams. Without a spread, most bets would naturally go to the stronger team, since they have a higher chance of winning outright. The point spread makes betting on the underdog more appealing by giving them a virtual head start. This way, even if the underdog loses, they can still “win” against the spread if they keep the game close enough. This dynamic makes betting more fair and exciting, as both teams have meaningful betting value.

Ultimately, point spread betting transforms a one-dimensional wager into a more strategic game. Bettors need to analyze team performance, playing conditions, and other factors to predict not just the winner but the margin of victory. This adds complexity but also creates opportunities for higher engagement and potentially greater rewards. It’s a favorite among sports fans who like to dig deeper into the game and enjoy a more tactical approach to betting.

Each-Way Betting

Each-way betting is a popular and widely used bet type, especially in horse racing, but also in other sports and events where finishing positions matter. It essentially combines two bets into one: one part of your stake is on your selection to win outright, and the other part is on the same selection to place within a specified range, such as finishing in the top 3 or top 4. This dual nature makes each-way bets attractive because it offers more chances of getting a return, even if your pick doesn’t come first.

• Each-way bets are split into two equal parts — half the stake is placed on your selection to win the event, and the other half is placed on your selection to finish in a place position determined by the bookmaker or event rules.
• The place terms vary depending on the event, number of participants, and bookmaker’s policies; typical place positions are first 2, first 3, or first 4 places.
• When your selection wins outright, both parts of the bet pay out — the win part at full odds and the place part at reduced odds, meaning you get a bigger total return.
• If your selection doesn’t win but finishes within the place positions, you get a return on the place part only, usually at a fraction of the winning odds (often 1/4 or 1/5).
• If your selection neither wins nor places, both parts of the bet lose, and your total stake is lost.
• Each-way bets are common in horse racing because of the unpredictable nature of races and the value of partial returns on strong performances that don’t quite reach first place.
• This type of bet can also be used in other sports or competitions where finishing position matters, such as golf tournaments or athletics events.
• The cost of an each-way bet is effectively double a normal single bet since you’re placing two bets — so a R100 each-way bet costs R200 in total.
• Bookmakers sometimes offer enhanced place terms during major events, increasing the number of place positions or improving the fraction of the place odds, making each-way bets more appealing.
• Each-way betting reduces the risk compared to a straight win bet because it allows you to win some money even if your selection doesn’t finish first but still performs well.
• This bet type encourages more strategic betting, where bettors can back outsiders or less favored runners with better chances of placing, increasing their potential to secure a return.
• Each-way betting also keeps the excitement going longer during an event, as there are more possible outcomes that lead to a winning return.

Over/Under (Totals) Bets

Accumulators and Multiples

Accumulators, sometimes called multiples or parlays, are a popular betting choice for those looking to turn a small stake into a much larger payout. Instead of placing a single bet on one outcome, an accumulator combines several individual bets into one combined wager. The key rule is that all selections within the accumulator must win for the bet to pay out. This means the potential rewards grow quickly because the odds of each selection multiply together, creating much higher overall odds compared to single bets.

The way accumulators work is pretty straightforward. You pick a number of events, such as three soccer matches, and bet on the outcome of each — for example, Team A to win, Team B to win, and Team C to win. The bookmaker then multiplies the odds of all your selections. So, if the odds for the three games are 2.0, 1.5, and 2.5 respectively, your combined odds become 7.5 (2.0 × 1.5 × 2.5). This means your payout, if successful, is much bigger than placing three separate single bets. It’s like stacking your chances of winning big on multiple correct predictions.

However, this bigger payout potential comes with greater risk. If any one of your selections loses, the entire accumulator bet is lost — no matter how well the other picks perform. This “all or nothing” nature of accumulators makes them riskier than single bets. Many bettors enjoy the thrill and challenge of trying to predict multiple outcomes correctly, but it’s important to understand that as the number of selections increases, so does the chance that one might fail, wiping out the entire bet.

Despite the risks, accumulators remain hugely popular because of their enticing potential rewards and the excitement they bring. They can be a fun way to add extra stakes to games you’re already following, and they encourage deeper engagement with multiple matches or events at once. For beginners, it’s often recommended to keep accumulators small and manageable to balance the fun and risk effectively. Over time, as your understanding grows, you can experiment with bigger accumulators, but always remember the importance of careful selection and not betting more than you can afford to lose.