Online Bookmaker Betting Types in the UK

Exactly as it sounds on paper. A single bet is a bet where you stake money on just one outcome. Examples include which horse you think will cross the line first, or which footballclub will lift the Premier League trophy in 2024.

Example of a Single Bet

A bookies is offering odds of 4/1 on Andy Murray beating Roger Federer in the Wimbledon final. You put down a £2 stake. If Murray wins, you get back £10 (£8 profit + your £2 stake).

In this bet you win if you correctly guess first place, and/or the top 3 finishers. In horse racing,for example, placing an each way bet means you'll get paid out, even if the horse you select finishes in second or third place.

Example of an Each Way Bet

You put an each way bet of £1 on the finisher of the Grand National. Your stake is £2 (£1 for the win and £1 for the place). The odds are 16/1. Your horse finishes second. You get back your £1 place stake plus the each way odds (usually 1/5 of the advertised odds). You get a £21.20 return of which £19.20 is profit.

A line bet involves two teams facing off against one another where one is widely regarded to be the clear favourite of the two. To make things more interesting, the bookmaker sets a points handicap on the stronger team, essentially making the chances of either team being successful more equal. Some UK bookmaking sites also allow bettors to pick their own line bet too.

Example of a Line Bet

Chelsea is playing Crystal Palace in the Premier League. The bookie regards Chelsea as the clear favourite. The line bet on Chelsea is 3 points. That means that if you bet on Chelsea to win, they have to beat Crystal Palace by more than 3 goals.

Spread betting is a little different from the previous3 betting types we've explained because this way of betting doesn't use fixed odds. In fact spread betting is a little like playing the stock market. You work on a unit price that can rise and fall. Your job is to correctly know when to buy and when to sell.

Example of a Spread Bet

Man U and Man City are facing off against each other in the FA Cup. The bookie predicts the outcome will be a 2-1 win for Man U. If you think Man U will score more than 2 goals in the game, then you'd buy. If you think they'll score less, you sell. Spread betting is all about seeing the bookies prediction for the event outcome, deciding if you agree or disagree, then acting accordingly.

An accumulator is when you bet on multiple outcomes and each one of them has to happen for you to win any money. For example, you bet on 3 different horse races and which horse you think will cross the line first in each meet. You'd need all3 horses to win for you to win your bet. If just one horse loses then so do you. With an accumulator it's all or nothing.

Example of an Accumulator (Parlay) Bet

You place an accumulator bet on the outcome of 3 NFL matches, of which the odds are as follows:

• Dolphins Vs Titans Dolphins 9/2Draw 11/4Titans 8/13
• Giants Vs Chargers Giants 19/10Draw 23/10Chargers 7/5
• Rams Vs Seahawks Rams 1/6Draw 5/1Seahawks 12/1

You put £10 on Titans, Giants and Rams to win. If they all do, you get back £44.65 profit + your original £10 for a total of £55.65.

In play betting is when the odds are updated in real time. It means rather than all bets needing to be in before the start of, say, a Premier League meet between2 home rivals, bookies and exchanges will actually take bets as the game is in full swing. The odds will constantly refresh, based on activity in the game like if one team scores or a player gets sent off.

An example of In-Play betting

You're watching England take on New Zealand in the Rugby World Cup. You think England will score the next try. An online exchange is offering 6/1 odds on that happening. You place a £5 wager. If England score the next try you make £35 (£30 profit + your £5 stake).

Quite often when you place a bet in a land based bookie or online bookmaker you'll be asked if you want to take the fixed odds. This is because the odds can, and frequently do, change. Right up until the start of a race or match. And sometimes even during a game.

Taking fixed odds however means that even if the odds on the bet you placed suddenly shoot up, you'll only get paid out on the odds you accepted at the time you placed your bet. On the flip side, if the odds worsen you've secured a better payout if your selection comes good by locking in the odds when they were higher.

For example:

You take 10/1 fixed odds on a horse placing first at Aintree. As the race nears the odds change to 8/1. With the fixed odds you stand to gain more return (£110 on a £10 stake). But if you hadn't taken fixed odds at the time you'd only get back £90 - reflective of the revised 8/1 odds.

Unlike in bookmakers, where the odds are determined by the bookies themselves, in a betting exchange it's the customers who influence and affect the odds. In a betting exchange you bet against your fellow bettors, and no bookmaker is involved whatsoever. Using a betting exchange incurs a small commission, but they typically offer higher odds than at online bookies.

Example betting at an exchange:

You're looking to place a bet on Tommy Aaron beating Andy Bea in the PGA. The odds being touted are 2.12 to back Aaron and 2.18 to lay. You can take the advertised back odds immediately or you can hold off and see if they go higher. In exchange betting you want to get the highest odds possible for the outcome you think is going to happen. The flip side is the person you're betting against wants you to take the lowest odds as that way there's more profit in it for them.

A parlay is essentially another type of accumulator bet. Parlay is the common name for Accumulator in America. In a parlay, just like in an accumulator, you're looking for all the selections you make to be successful. If just one of those selections fails then your whole bet goes under.