Types Of Bets

Craps is a much easier game to learn than most people think. The basic premise is simple: you are betting on the outcome of the roll of two dice. The only thing that makes the game confusing is all the different types of bets you can place.

Most of these bets are straightforward, but it’s just the fact that there are so many of them that make the game a little complicated. You don’t need to know how each one works to enjoy playing the game, so it’s not like you have to learn them all before you start playing.

1X2 (Home win, draw, away win) - The most popular type of bets on football, the aim of which is to predict the final result of the match, either the win of the home team (1), a draw (X) or the win for the guests (2). Approximately, ¾ of all bets on football are 1X2 bets. Despite being the most popular type of bet. Win bet is used almost universally, while moneyline wager is used in the United States and a few other regions. The term “straight bet” is also used in some regions for this type of wager, but in the US, a.

The bets we would say you absolutely must understand are the pass line and don’t pass wagers, the come and don’t come wagers, and the odds bets. We explain these in detail below, and also provide information on all the types of bets. Here is a list of the bets we discuss below:

• Pass Line & Don’t Pass Wagers
• Come & Don’t Come Bets
• Odds Bets
• Place Win
• Place Lose
• Buy
• Lay
• Big 6 and Big 8
• Hardways
• Field
• Proposition Bets

The pass line and don’t pass wagers are the most commonly placed bets in craps and also the most straightforward. A shooter will usually have to place one of them before making their come-out roll; and in some casinos, players must make one of them if they also want to place other wagers. These bets have to be placed before the come-out roll, and they both pay out at even money (1:1) when they win.

A pass line bet wins if the value of the come-out roll is 7 or 11 and loses if it’s 2, 3, or 12. If it’s any other value, then a point is established at that value, and the pass line wager remains on the table until the point is rolled again or 7 is rolled. If the point is rolled, the wager wins; if 7 is rolled, the wager loses.

A don’t pass wager wins if the value of the come-out roll is 2 or 3 and loses if it is 7 or 11. If the value is 12, then the bet is pushed, neither winning nor losing. Just like the pass line bet, it remains on the table if a point is established. The don’t pass wager loses if the point is rolled again and wins if a 7 is rolled.

Come & Don’t Come Bets

These wagers are very similar to the pass line and don’t pass bets, the main difference being that they are placed after the point is established rather than before. They can be a little confusing, so please make sure you fully understand the concept before placing them.

If the first roll after you have placed a come bet is a 7 or 11, then you win your wager. If a 2, 3, or 12 is rolled, then you lose. If any other number is rolled, this is the point for your come wager. So if a 5 is rolled, for example, then 5 becomes your point. Your wager stays in place and will win if a 5 is rolled again, and lose if a 7 is rolled. A come bet may be thought of as a personalized pass line bet, where the point number is established on the first roll after it has been placed.

By the same token, a don’t come bet is like a personalized don’t pass bet. It will lose if a 7 or 11 comes up on the first roll after you place it, and win if a 2 or 3 is rolled. Any other number establishes the point for your don’t come wager, which will then stay in place until it either wins or loses. It will win if a 7 is rolled, and lose if the point is rolled.

Both of these bets are paid out at even money (1:1) when they win.

Odds bets are a bit like side bets that can be made after a point is established. They are essentially extensions of each of the four bets mentioned above. There are four different types:

• Pass Line Odds
• Don’t Pass Odds
• Come Odds
• Don’t Come Odds

You would place a pass line odds bet to complement your pass line bet following a point being established. It pays if the point is then rolled before a seven, and loses if a seven is rolled. The big advantage of this type of bet is that it’s paid out at true odds when it wins i.e. there’s no house edge. The payouts vary, depending on what the point is.

When you place a pass line odds bet, you are said to be “taking the odds.” Because there’s no house edge, the amount you can stake is limited. Typically, you can stake up to three times the amount on your original pass line wager, but some casinos allow more.

A don’t pass odds bet is placed to complement a don’t pass bet. It pays if a seven is rolled before the point, and loses if the point is rolled first. Bets of this type are also paid out at true odds with no house edge and, again, the payouts vary depending on what the point is.

You are said to be “laying the odds” if you place a don’t pass odds bet. The amount you can stake is limited in the same way as a pass line odds bet. Come odds and don’t come odds bets are based on exactly the same principle. They just use the point that is established following a come or don’t come bet.

Place win bets can be made after a come-out roll when a point has been established. They can be on any of the numbers 4, 5, 6, 8, 9 or 10, and they win if the number chosen is rolled before a 7. The payouts vary depending on which number you have chosen.

These are basically the opposite of place win bets. They can be on the same choice of numbers (4, 5, 6, 8, 9, 10), but with a place lose, you win if a 7 is rolled before the number you have chosen. The payouts again vary depending on which number is chosen.

A buy bet is largely the same as a place win in that you are betting on a specific number to be rolled before a 7. The difference is that the payouts are higher, with the trade-off that you have to pay a 5% commission. At some casinos, this commission is payable when you place your stake, and at others it’s only payable if you win. The payouts once again vary based on which number has been chosen.

A lay bet is the opposite of a buy bet, and also comes with a 5% commission. With this wager, you are betting on a 7 being rolled before a specific number, in the same way as a place lose. It offers higher payouts than a place lose, which vary depending on the number chosen.

These bets are very straightforward, and both pay even money (1:1) if successful. A big 6 wins if any 6 is thrown before a 7, and a big 8 wins if any 8 is thrown before a 7.

Hardways

When a number is rolled as a double, it’s said to have been rolled the hard way. A hard 8, for example, is a double 4. That is how wagers of this type get their names. They are pretty simple and are based on certain doubles being rolled before a 7.

You can bet on any of a hard 4, a hard 6, a hard 8, or a hard 10. If the relevant hard number is rolled before a 7, you win the bet. As with some other wagers, the payouts are determined by the number bet on.

Field

A field bet is always settled on the next roll. It will win if a 2, 3, 4, 9, 10, 11, or 12 is rolled and lose if 5, 6, 7, or 8 is rolled. It pays 1:1 unless a 2 or 12 is rolled, in which case it pays double (2:1).

There are several different proposition bets available in craps, all of which are settled on the next roll. We explain each of these below.

It’s worth mentioning that proposition bets come with higher payouts than previously mentioned options. The house edge is also higher, however, and players are generally advised to avoid them for this reason. However, there’s nothing wrong with using them if you’re willing to accept more risk in exchange for potentially bigger rewards.

• Any 7 (Payout 4:1). Wins if 7 is rolled next.
• Any 11 (Payout 15:1). Wins if 11 is rolled next.
• Any Craps (Payout 7:1). Wins if any of 2, 3 or 12 is rolled next.
• Ace Deuce (Payout 15:1). Wins if 3 is rolled next.
• Aces (Payout 30:1). Wins if 2 is rolled next.
• Boxcar (Payout 30:1). Wins if 12 is rolled next.

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Given the huge scale of international sport and the healthy competition between bookmakers there has never been a greater choice for punters in terms of the array of bets on offer.

Bookmakers and regular bettors refer to sports as markets. Some of the most popular markets for punters in the UK, for example, are football, tennis and horse racing. Meanwhile, there is also plenty on offer for bettors in sports such as boxing, cricket, cycling, darts, F1, golf, greyhounds, MotoGP, rugby league, rugby union, snooker and UFC.

In some countries there is more interest in betting in more niche sports such as handball or volleyball, whilst there are plenty of punters around the world betting on U.S. sports such as American Football, basketball, baseball and ice hockey. Intriguingly, betting on Esports is one of the fastest growing markets for bookmakers internationally.

Types of bet

In addition to the vast amount of sporting activity there is to bet on nowadays there are many types of bets available across those sports. Let’s take a look at some of the main types of bets that bookmakers offer to customers:

Single bet

A one-off bet on the outcome of a single event. This could be a win only bet on the first horse past the post in racing or on a football team to win a match.

Win

The punter backs their selection only to win the race, match or competition.

Place bet

Here the punter is staking money on a selection to finish first or in the top places in a race or competition. This could be the top three in a horse race or for a football team to ‘at least’ make the final in a cup or tournament. Place terms differ from race to race and event to event.

Each way bets

Here there are two bets being placed, so it can be said that there are ‘two stake units’. One stake unit is on the selection to win outright and the other is on a place finish. The stake is essentially doubled and split across the ‘win’ and ‘place’ wagers in an each way bet.

Multiple bets

In simplest terms multiple bets are wagers on two or more outcomes. A double bet could include two selections to win separate races, whilst a treble could be three win singles grouped together in one bet. With accumulators things get even more interesting – and harder to predict – with four, five, six or an even higher number of outcomes being bet upon. Returns can be much higher in multiple bets as winnings from the sequence of bets are staked on the subsequent bets along the chain. However, if any of the selections are incorrect the entire bet is unsuccessful.

Forecast betting

Here bookmakers offer punters the opportunity to predict the finishing order of the top two or three finishers in a race, league or event.

Straight forecast bets

Sometimes referred to as a computer straight forecast, or more concisely a straight forecast, in this type of wager the bettor names two selections to finish first and second in a race or event, in a specified order. You could back Horse A to finish first and Horse B to finish second. You might want to back Manchester City to win the Premier League and Chelsea to finish second. Unless the exact outcome is predicted correctly the bet is lost.

Reversed forecast bets

In this bet you predict the first two finishers but you do not have to specify the exact order you think they will finish in. So here you might back Real Madrid and Barcelona to be the top two at the end of a Spanish La Liga season, without having to predict which one will win the league. Or in horse racing it could just be the first two horses past the post, without specifying the order. This bet usually requires two stake units.

Combination forecast

This is a bet on three of more selections to finish in first and second - in a specified order - in a race or event. So this is a combination of straight forecast bets. Thus there are multiple numbers of unit stakes and multiple bets being placed. For three selections – let’s say horses A, B & C - it would require six bets (the top two predicted in the correct order as AB, BA, AC, CA, BC or CB) to cover all the possibilities of their possible top two finishes. If any other horse finishes in the top two the bet is lost. If the punter wants to bet on four selections to finish in a specified top two order this requires 12 bets, for five selections it’s 20 bets and so on.

Tricast bet

Types Of Bets Football

Similar to a straight forecast but involves three selections and predicting their exact finishing order, first, second and third. There is one unit stake and this type of bet is usually only available when there over a specific number of runners or participants in a race or event; e.g. eight horses in a race or five greyhounds in a race.

Combination Tricast

This bet involves naming three or more selections to finish first, second and third in the specified order in a race or event. Again we are talking about multiple bets in one, so there are six bets on three selections, 24 bets on four selections, 60 bets on five selections and so on, to cover all the permutations. Multiple stake units are at play.

Full cover bets

Types Of Bets Horse Racing

These are bets which combine all the potential doubles, trebles and accumulators over a specified number of selections. You could consider a double a full cover wager with only two selections.

Trixie

This is a full cover bet on three selections, comprising three doubles and a treble, so four separate bets. To gain a return the punter must be correct with at least two selections. More elaborate bets such as a Yankee, Canadian, Heinz, Super Heinz and Goliath fall into the full cover bet category and we have specific descriptions on all of these bets available via the menu above.

Full cover bets with singles

Similar to the full cover bets mentioned above but with single bets also in the mix.

Patent

The same as a Trixie but with three singles added to the combination. In a patent there are seven separate wagers being placed: three singles, three doubles and a treble. Additional full cover bets including singles include the Lucky 15, Lucky 31, and Lucky 63 - which are also all covered in our individual guides on those bets.

Additional types of bets

For descriptions of wagers such as an Alphabet, Round Robin, Flag and Super Flag check out the comprehensive guide to each, as listed via the menu above.

Market variety

Depending on the market you are betting on - and the bookmaker you place your wagers with - you will also find various options for handicap betting, ante post odds, live betting and betting exchanges.

With handicap betting the concept is pretty straight forward. On a football match you might see the following odds on offer: Team A (-2.5) 4/5. Draw 3/1. Team B (+2) 2/1. Team A are the favourites to win the match and have home advantage, so if you bet on them to win with a handicap start of minus 2.5 goals they must win by three goals in order for you to win the bet.

If you think the home team will only win by one goal you can back Team B, the away team, to ‘win’ with two goals added to their final tally in the match. If they win, draw or avoid defeat by less than 3 goals, you have won the bet.

There are handicap bets available in lots of sports. In rugby you can back a team to win or lose by over or under a specific number of points or in darts a player to win by a certain margin of legs. It just means there is more to bet on than simply which team/player selection will win or whether the match will be a draw.

Ante post odds allow you to bet on races well ahead of time and potentially get better odds than you would closer to the race. You are essentially also betting on your selection to stay fit, in form and to be selected to take part in the race.

Live betting – Betting In Running (BIR) or Betting In Play (BIP) – adds further interest to watching live sport. As you see how a match is unfolding you can bet on which tennis player will win the next set, for example, or in football you could bet on the next goalscorer, if you see a player who is looking particularly threatening.

Meanwhile, betting exchanges, such as Betfair, allow customers to trade bets with each other. The customers can offer each other wagers. Traditionally bookmakers offer odds, then ‘lay’ bets, offering money to the customer in the event that the punter’s bet is successful. On betting exchanges customers place and lay wagers against each other. Sometimes odds are restricted to certain limits, but often customers can find very competitive odds on betting exchanges.

Free bets

Types Of Bets On Horses

Lastly, always look out for offers on free bets if you are new to betting. Bookmakers often provide introductory offers to encourage new customers to sign up, so this can be an easy way to test the water with your first bet. Often the stake is limited or specified – such as a ‘free £10 bet’ – so if you want to place more on a selection the offer is not for you. There are other conditions too, such as free bet stakes not being returned with winnings, so check with any individual bookmaker on the terms of your free bet.

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Types Of Bets On Sports