5 Types of Sports Betting Wagers That Bring the Most Profit

Tue, Sep 3, 2024
by CapperTek

There are many different ways to bet on sports events, and choosing the right type of wager can increase your chances of winning as well as the amounts you can potentially win.  When choosing which wager type to try, players should be aware of the balance between risk and reward, which is common for any type of betting.

In this article, we'll review a few types of wagering sports based on their profitability.  Knowing that the wagers with the highest reward are also the riskiest is essential.

Parlay Bets

 Parlay bets are one of the most common sports bets available at most online gambling sites.  They are simply ordinary bets in which the players wager on an outcome of a sports event, but the difference is that you're allowed to bet on several events at once.  The player only wins if they guess all the outcomes correctly.  The sites often offer bonuses depending on how many events you're betting on.  You can check these resources to learn about different gambling sites and their bonus policy.

In theory, there's no end to how many games and outcomes a player can add to the parley bet, but the more you add, the more of a chance one won't go your way.

Future Bets

Future bets are also among the most lucrative ones, as they are the most difficult to win.  These wagers are made before a tournament or a sporting event starts, and the players place a wager on who wins at the end.  The same can be done for a regular season in any sport where a player bets on who will be the champion at the very end.

The odds for this wager depend on who's the favorite chosen by the tournament or championship.  The odds are always quite high, and so is the potential win because regardless of how certain a path to victory seems at first, it's never easy to guess how the tournament will play out.

Arbitrage Betting

Arbitrage betting, also known as "sure betting," is a strategy in sports betting where a bettor places bets on all possible outcomes of a sporting event using different sites and sportsbooks.  It's different from most other bets on our list because the winnings are small compared to others, but they are also much more consistent.

The key to arbitrage betting is not to overplay your hand to stay consistent with your betting system and to increase the winnings with each following bet incrementally.  It takes time to earn large profits this way, but it works, and it's less risky than the other types of bets we mentioned.  It also requires a larger budget than the other bets with high returns.

In-Play or Live Bets

 Live bets can also be used to make large profits when making wagers on sports events.  However, doing so requires a lot of effort and knowledge about the strategy and tactics of a game.  Live bets are the same as any other bet on the sports event, but they are made while the game is still on, and the odds also change in real time based on the events on the field.

The opportunity for high payouts comes from making the wager at the right, while the odds are high before an event that changes the game's outcome –such as a penalty kick or a team gaining momentum.  As is the case with any other wager, the higher the risk – the greater the reward.

Hedge Betting

 Hedge betting is a strategy where you place an additional bet opposite to your initial wager to secure a guaranteed profit or minimize losses.  For example, if you bet on Team A to win and they take an early lead, you might bet on Team B to win or on a draw.  That way, it doesn't matter what the outcome is; the player will always win a certain amount.  This type of betting doesn't bring high profits with individual bets, but it does so over time.

The lower overall returns are a price that you pay for lower risk.  As is the case with arbitrage betting, it's also an option for someone with deeper pockets.

To Sum Up

 In conclusion, when choosing the type of sports bets to make, it's important to consider the balance between risk and reward.  Some bets, like parlay and future bets, offer big payouts but come with higher risks.

On the other hand, arbitrage and hedge betting provide safer, more consistent profits, though the returns are smaller.  In-play bets offer opportunities for high profits during live games but require quick decisions and knowledge of the game.  By understanding each type of wager and knowing your risk tolerance, you can make smarter bets and potentially increase your chances of winning.