Introduction
Recently, the betting industry has seen a variety of new betting options emerge, offering a wider range for those looking to place wagers. These new options have been driven by advancements in technology and changes in consumer preferences, and have expanded the scope of events and outcomes on which bets can be placed.
What Exactly Are Betting Options
To understand how betting options are changing, we must first establish what exactly betting options are. In literal terms, betting options refer to the different ways bettors and individuals can place wagers on particular games and events. These options widely vary depending on the type of game that is being bet on, but these can generally be categorized into a few categories, some of which we will be detailing for you below.
Which Standard Betting Options Are The Most Popular
One of the most popular forms of betting options is money line betting, which is one of the most applicable markets across most events. In this type of betting, the bookmaker sets odds for each team to win the game outright, in which bettors can then choose to place a wager on the team they believe will win the game.
Another of the most familiar betting options is the over/under markets. When it comes to these bets, the bookmaker will set a predicted total number of points, runs, or goals, just to name a few, that will be scored in a game. Following this, bettors can then choose to place bets on whether the actual total will be adobe or below the number stated. Due to this format, this betting option can also be utilized in a majority of event markets.
Both of these betting options we have mentioned are more short-term, but in terms of longer-form bets, future bets are the most popular option. These bets, as the name may denote, are placed on events that may happen in the future, such as a specific team winning a league or tournament or a specific player winning a certain accolade. The odds for these types of bets are typically set before an event begins, however, the odds can still change throughout an event, depending on factors that may have already occurred.
Finally, proposition betting strays away from typical betting, instead deciding to focus on more individual players and aspects. These types of bets can be on various outcomes, such as a certain player scoring a certain number of points, a specific player performing a specific number of actions, or a certain team winning by a certain margin. Once again, these proposition bets can lend elements from other betting options, such as the over/under markets.
What New Betting Options Could Become Predominant?
One of the most popular betting pools which is slowly gaining traction amongst bettors is esports. The industry surrounding esports alone has exploded in recent years, with competitive video gaming taking off in its own right. Consequently, the betting markets corresponding to this have also burst onto the betting scene as this now allows fans of esports to bet on various esports competitions. Some of these options simply involve the winner of matches, individual games, and tournaments, however, bettors could also place more specific bets surrounding player performance. For example, you could potentially place a bet for a player or team to score over or under a specific number of points, or to win by certain margins.
Another new betting option that is quickly becoming favoured amongst bettors is the live betting features that are now available. This is also referred to as in-play betting, and although it has been around for a number of years, there are now more variables than ever for you to potentially bet on. Simply put, this gives bettors the opportunity to place beats on events whilst they are taking place. Due to the advancement and continued incorporation of live streaming events on betting sites, this has increased in popularity, as it doesn’t require players to place stakes before events begin, as well as allowing players to garner a hold of how a match up may potentially play out.
However, one avenue that has exploded recently is social betting. In the simplest of terms, this refers to bettors placing wagers on outcomes of events or competitions with people within their social network. Fantasy sports is a key example of this, as this is one of the main ways players can have tournaments and competitions amongst themselves. As it involves betting activities in a social context as opposed to with bookmakers, this has grown in popularity.
Virtual Sports is another market and betting option that has been around for a number of years now, however, has seen drastic improvements mirroring the expansion of technology within the industry.
This allows bettors to place bets on virtual sporting events, such as virtual football or horse racing. These virtual events are computer-generated and can be accessed at any time, which makes it possible to place bets 24/7. Like with their regular sports, they also offer a host of familiar betting options within. This option has become especially popular because it allows people to place bets on sporting events even when there is no real-world event taking place. These have changed drastically recently, with the graphics for these being significantly upgraded, realistic commentary beijing added and a multitude highlights being shown per match.
Conclusion
In conclusion, betting options are diverse and are designed to cater to different needs of bettors. From the more popular and traditional moneyline betting, future bets, prop bets and over/under bets to the newer and increasingly popular, live bets, virtual sports and social betting, there are a host of different options to potentially choose from. However, when choosing to place bets, it is always important to understand each option before placing a bet, as well as ensuring to always gamble responsibly, as real money consequently comes with real risk.