Seeing as some of my readers are not very familiar with betting, I'll try to explain some of the basics.
This is the most commom type of bet. Here you simply bet for a certain result/score/outcome. Typically, its in the form of:1 X 2 (1 being usually the player/team that has the home field advantage, X being a draw/tie, 2 the other player/team)
|1 X 2 type bet|
Other sports, such as tennis have only 2 possible outcomes: 1 (or) 2 (there is no tie/draw).
|1 (or) 2 type bet|
Yet another very popular type of bet is the so called Asian Handicap, which removes the possiblity of draws/ties by giving one of the teams/players a certain advantage. In the first example, a bookie might give Peñarol a 1.5 goals advantage, thus making a tie impossible.
Everytime you lay a bet, you are essentially betting against a certain result/score/outcome.
|Back and Lay odds|
For example, if we lay Peñarol to win, we'll get payed if Velez wins or if the match ends in a draw.
There are several other special types of bets, such as betting half-time scores, number of goals, number of sets in the match, etc. It's impossible to cover all, but most are fairly intuitive.
Thats enough for this post, next I'll explain the different types of odds, stakes and bankroll.
Be sure to check out my current betting balance @ google docs