In my latest addition in learning the basic steps of sports arbitrage i will show the different kinds of sports betting markets. Markets are the bet type that we are playing. Below are the list of markets and example on how it is played in sports betting.
2 WAY ( WIN/ MONEYLINE/ PUCKLINE/ MATCH WINNER)
A common arb is a two way arb where there’s no draw outcome. An example of this would be a tennis match, a basketball game, a two way ice hockey game with overtime and penalties included and so on. It’s easy to bet on a two way arb, you only have to bet on two outcomes between two bookmakers.
There are also a lot of three way arbs out there and the most common one of them all is betting on a soccer match that can be end in a draw. As with the two way arb, it’s straightforward, betting on all three possible outcomes. Also known as “1X2”.
Turns a 3-way bet into 3-way, eliminating the draw option by a handicap. Asian Handicap (AH) is becoming very popular and there are a lot of AH arbs on the market today. It is also known as “2-way handicap”. Betting on Asian Handicap is simply a way to spread bet on soccer, but more importantly it’s a way to reduce the possible outcomes from three (1X2) in a match to only two (12). Offering AH lines is a way for the bookmakers to even out the odds” in a particular match, giving the underdog a bookmakers (for “pick-em”). For example, if the Premier League team Manchester United was to meet a random division 5 team, the odds on a three way match probably be something similar to this:
Even Goal Asian Handicap
- Manchester United 1.02
- Draw 12.00
- Division 5 Team 22.00
But the same match offered as Asian Handicap could look like this:
Bet 1. Manchester United (-3) 1.9
Bet 2 Division 5 Team (+3) 1.9
In the example above, the Division 5 Team is rewarded a three goal handicap before the match begins.
- If Manchester loses, or wins with less than 3 goals, Bet 2 is the winning bet.
- If Manchester wins with more than 3 goals, Bet 1 is the winning bet
- If Manchester wins with exactly 3 goals, the wagers are refunded.
Unlike Asian Handicap, where the possible outcomes of a match are reduced to two, European Handicap (EH) is a three way handicap. This means that you have three possible outcomes. European Handicap are also sometimes called “1X2”Handicap or 3-way Handicap.
If Ajax where to meet Chelsea in a Club Friendly game, the odds might look like this:
- Ajax 3.04
- Draw 3.30
- Chelsea 1.95
But when offered as a European Handicap market, the same match could look like this:
Bet 1. Ajax (1) 1.76
Bet 2. Draw (1) 3.60
Bet 3. Chelsea (-1) 3.51
In the example above, Ajax is rewarded a 1 goal handicap before the match begins.
- If Ajax wins or it’s a draw, Bet 1 is the winning bet.
- If Chelsea win with exactly 1 goal, Bet 2 is the winning bet.
- If Chelsea wins with 2 goals or more, Bet 3 is the winning bet.
TOTAL GOALS or OVER/UNDER
Another market to bet on, and one you will find mayarbs on, is Over/ Under. On this market, you bet on the combination of scores of both teams.
Example: The offered odds could look like this:
Bet 1. Over 200.5 2.05
Bet 2. Under 200.5 2.05
At the of the match:
Miami Heat scores: 109 points
Boston Celtics scores: 100 points
TOTAL SCORES: 209 points
- If the final score or the total points are over 200.5, you win.
- If the final score or the total points are under 200.5, you win.
- From the examples above, since the total points is 209 points, Over 200.5 or Bet 1 wins.