There are different types of bets that are available to players. The more the bet types, the more the opportunities for making a killing with a relatively small wager. However, there has to be an understanding of these bets before any winning can happen. The types of bets also carry different risk profiles, and reducing risk is in the interest of the gambler. Read on for some of the bets available online.

Asian handicap

The handicap, as it is commonly known, is an interesting bet type that allows punters to reduce their risk. A typical bet has three options; win, lose, and draw. Statistically, every bet option has a 33.33% chance of happening. That reduces the probability of winning a bet to a third. With handicap bet, the draw option is eliminated such that the possible outcomes are a win or a loss. For a handicap bet to return a winning, the player has to select the stronger team and bet that it will win by more goals. A handicap bet is considered a safer bet than a regular bet because the chances of winning are raised from 33.335 to 50%. Learn more about how it works and use it to your advantage.

Parlays or Multi-bets

These bets are notoriously hard to get right, and that is why all sports betting jackpots are accumulators or multi-bets. A multi-bet or parlay requires you to bet on the outcomes of more than one game. The only betting options, more often than not, are win, draw, and lose. Multi-bets are very rich when done right.

Double chance

The double chance bet is interesting because it basically allows you to bet that one or the other team will win. The only risk is that a draw might be the outcome. Like the handicap, double chance bets reduce the risk of winning from a third to a half.

As always, only pick bets that you understand well to avoid losing unnecessarily.