- Parlays: Collective multiple bets, at least two and as much as a bookmaker will allow are placed by a single person. The bettor wins if and only if all the outcomes are in their favor. The amount won increases as the likelihood of all combined events go down and vice-versa.
- Teaser: It is a kind of parlay where the collective odds of all events happening in the bettor’s favor are manually increased. Due to higher chances of winning, the payout is also reduced to give the house a positive edge.
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- If bets: If bet constitutes of two or more simple bets conjoined by an ‘if’ clause. This clause determines how the wager will proceed. Depending on which bit of the player agrees with the clause, the next bet will see the betting action take place.
- Goal line bets: These are bets having a decided spread and the amount received by winning bet is streamlined to indicate the difference in chances of winning the game.
- Future bets: Technically every wager depends on the future outcome of a game, but these bets are basically played out over a lengthy period of time. These bets include the odds of a team winning a season of a sporting event that is played for months on end. For example: Betting on Barcelona to win the La-Liga domestic Spanish football league qualifies as a future bet. Households the player’s bet money from the start of the season to the end. Most losing bets are cleared out well before the end though.
- Head-to-head: These bets are placed on the teams/individuals competing against their counterparts. These bets are independent of the overall outcome of a game. Bets can be placed on the number of goals scored by an individual against another individual in a head-to-head scenario.
- Totalizator: These are called the flexible rate bets where the odds of winning change during the course of the play of the event. According to the edge place with the house/bookmaker, the edge percentage of the money bet is taken by the house while the rest of the money is distributed between bettors according to the result.
- Half-bets: These bets function as normal bets except these are dependent on the outcome of only half of the duration of the game. The half can be with the first or the second half according to the discretion of the bettors. These bets could be based on total or spread. The division of time can vary from one sport to another. Bets are decided before the start of designated time-period and settled after the time period is over.