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Sports Betting Markets and Odds

Online bookies provide a multitude of sports betting markets for punters, opening the door to a whole new world of bet types on major sporting events in Australia and worldwide.

Our preferred Australian bookmaker for betting online is Sportsbet. They offer a huge range of sports and racing markets, along with an abundance of innovative member promotions on a wide variety of events.

From AFL Football, NBA, NFL, Rugby League, Rugby Union, Tennis and Cricket, to major Soccer leagues around the world, Sportsbet has it covered.

sports betting markets

If there's a game on somewhere, then Sportsbet will have a market for it. Check out our Sportsbet Review to learn more about Australia's number one betting agency!

Check out the latest sports markets below, while further down the page you'll find:

Popular Sports Betting Markets

Below are the most popular sports betting markets available at Sportsbet.

NFL American Football - NFL Football betting, Play-offs, Super Bowl, NCAA College Football

AFL Australian Rules - AFL Football betting, Finals Series, Grand Final, Brownlow Medal

NBA Basketball - NBA & NBL betting, Play-offs, Finals Series, NCAA Men's College Basketball

MLB Baseball - Major League Baseball Baseball betting, Play-offs, World Series

Criket Cricket - Test Match betting, Ashes Series, One Dayers, 20/20 Cricket, World Cup

Majors Golf - Masters Betting, US Open, British Open, US PGA, European Tour, PGA Tour

NHL Ice Hockey - National Hockey League Betting, NHL Play-offs, Stanley Cup

V8 Motor Racing - Formula One, V8 Supercars, World Rally Championship, Moto GP

NRL Rugby League - National Rugby League (NRL), State Of Origin, Super League

ARU Rugby Union - Rugby World Cup, Tri Nations, Super 14, Six Nations

EPL Soccer - All Major Leagues, Live 'In-Play' betting, Futures betting, Asian Handicap

Wimbledon Tennis - Wimbledon, US Open, French Open, Australian Open, ATP Tour

Elections - Betting on major Elections from selected countries around the world

Entertainment - Betting on TV Reality Shows, Award events and Talent Competitions

Other Events - Covers betting on one-off type events that have no specific category

Spring Carnival Racing Melbourne Cup - Markets, Odds and information on our greatest race, the Melbourne Cup

Further down the page you'll find Betting Market frequently asked questions (FAQS), Sports Glossary A to Z, and an Asian Handicap Guide.

Join Sportsbet Now

Sportsbet's AFL and NRL betting markets are excellent, and in our opinion, the best of the online betting sites. They also offer competitive odds on all Australian and international sporting events. Add political and entertainment markets, and Sportsbet has the online betting landscape covered.

Common sports bets include Single Bets, Head to Head, Line or Handicap Betting, Margin Betting, MultiBets, Exotics and Scorecast.

We work very closely with Sportsbet and recommend them for the complete betting experience.

bonus bet Bet now at Sportsbet

Sportsbet offers a safe and secure website using the latest encryption software.

Betting Markets FAQs

Understanding betting markets is essential when punting on sports or racing events. Learning how bookies calculate percentages is a great place to start.

Online gambling is big business these days and bookie sites offer thousands of betting markets for punters, both here in Australia and internationally.

Odds are set for each market on the likelihood of an outcome happening. These are the odds that punters choose to accept if they place a bet on a particular market.

How do Betting Markets work?

When bookmakers create a betting market for any sports or racing event they factor in a margin that should net them a long term profit, all things being equal.

Bookies can't control any variables once bets have been placed, which means winning and losing days will fluctuate wildly at times. However, over time, their bookmaker edge will ensure they end up in front if they frame their markets correctly.

They can also lay off potential big losses with fellow bookmakers to help offset their betting margins.

Much like a casino, a competent bookmaker will make money with an edge. Punters who bet on any market without any plan or stategy provide bookies with that edge. Don't be that punter!

Find out how to frame a betting market like the bookmakers do, so you know how to price a horse race.

How do Betting Exchanges work?

At a betting exchange, such as Betfair, people bet against each other on sports and racing events. At Betfair you can Back to Win or Lay to Lose, and there is no margin built into the framed markets.

Betfair charge a small commission on net winnings. This means, unlike some corporate bookmakers, you won’t get shut down for winning too much money.

Exhange betting has its advantages, especially price wise, as it is often much better then the corporates.

However, equity problems often arise on low interest betting markets, which results in frustration when bets are not matched.

How do I place a Live Bet on Sports?

At Sportsbet, betting live and in-play requires a Fast Code to place a Live Bet once the event has started.

To place a Live Bet via Web, Android or iOS using a Fast Code:

1. Click on Bet Live on the Left Hand Side of the website
2. Click on your bet selection to generate a Fast Code

Call Sportsbet on 1800 138 238 to speak with a customer service operator in real time. Once verified, provide the Fast Code of your selection and your bet stake.

The operator will then read back your bet in full.

Important! - Ensure you confirm the bet back before hanging up, otherwise your bet wont be placed.

What is a Scorecast Bet?

A Scorecast bet type is available for AFL Football, Rugby League, Rugby Union and Soccer matches.

In AFL Football, Rugby League and Rugby Union, a Scorecast combines the first try or goal scorer with a margin market.

In Soccer, the combination is the first goal scorer with the final score.

How does Margin Betting work?

Margin Betting is where you select a winning margin on a sports event between two teams.

This bet type is available on AFL Football, Rugby League, Rugby Union and Basketball. The margins are typically set out as below:

AFL Football: 1-39, 40+ and Draw
Rugby League & Union: 1-12, 13+ and Draw
Basketball: 1-10, 11+

Note: When a Draw option is offered, it excludes any extra time play.

What Happens to Soccer Bets in Extra Time?

At Sportsbet, all soccer bets settle on the result at the completion of 90 minutes, which includes stoppage time unless otherwise stated.

This means that for most bet types any happenings such as goals, corners, etc that occur in extra time will not count towards your bet.

Team Bet Example:
Assume you Bet on Chelsea to Win against Newcastle in the English Premier League and the game is 1:1 at the end of 90 minutes, inlcuding stoppage time. Your Bet is a losing Bet, even if Cheslea hits the back of the net at the 120 minute mark or win on penalties.

Corner Bet Example:
You place an Under 10 Corners bet and at the end of regular time 8 corners have been taken. Your bet would be settled as a win even if 4 more corners were taken in extra time.

What is a Win-Draw-Win Market?

Popular in soccer, a Win-Draw-Win Market allows you to Bet on a team to Win or Draw at the end of 90 minutes, inlcuding referee stoppages.

If you Bet on Real Madrid to Win over Barcelona and the match ends 0:0 after 90 minutes, including referee stopages, your Bet will be a losing one, even if Real madrid scores at the 120 minute mark.

Here's a Win-Draw-Win Bet example from Sportsbet.

Check out our Betting Guide for more online betting info.

Sports Glossary A to Z

Our sports glossary below contains some common sports betting terms and definitions.

Accumulator – A multiple bet where two or more selections are chosen and all of these selections must win for the accumulator to payout.

All-in – With an all-in bet on any given event where a bet is placed, there are no refunds given for scratched or withdrawn competitors or teams.

All-up – A single bet is placed on more than one outcome, and both stake and winnings of the first selection are rolled over into the second selection and so on.

Arbitrage – Where a differential in odds available allows a bettor to back both sides to guarantee a win.

Asian Handicap – A form of soccer betting that eliminates the draw by implementing a handicap.

ATS – ‘Against the Spread’ – taking points rather than betting with the spread and laying points.

Backed – A bet selection where the odds have shortened.

Bad beat - Losing under unusual or exceptional circumstances.

Banker – A key selection in an exotic bet which must win or place to guarantee any return.

Bank roll – The amount of credit in a bettor’s sportsbook account.

Bet – A wager of any kind.

Betting line – The betting proposition on a game and payoff odds on the bet.

Bettor – Someone that makes a wager.

Book – An establishment that accepts bets on sport, horse racing and other events.

Bookmaker – A person who is licensed to create markets and accept bets and wagers.

Bookie – Slang term for a bookmaker.

Bonus – Rewards granted by bookmakers or sportsbooks for new signups or promotions.

Cover – Bet on a team to cover the number of points quoted on the line or spread.

Doubling-up – After a loss, the player doubles the size of his previous bet, hoping to win back the money lost and make a profit.

Draw – When two teams or competitors finish the game with the same score.

Drift – Odds or prices that have lengthened during betting.

Event – Another term for a race, tournament, match or any betting contest.

Extra-time – When a set period of additional playing time is added to an existing game when two teams finish on the same score.

Favourite – The expected winner of an event, and the entrant with the lowest odds.

Favoured – A team or contestant that is popular with the betting public.

Field – All the competitors in an event.

First Half bet – A bet made on the outcome of the first half of a game.

Fixed game – A game in which at least one of the competitors or teams wilfully manipulate the outcome of the game.

Fixed odds – The odds taken at the time of placing your bet remain the same until the settlement of the bet.

Futures– Odds provided before an event, well ahead of that event taking place.

Half time bet – A wager placed only on the second half of a game.

Handicap – A wager where the favoured side has points deducted and the underdog points added to even up the bet.

Index Betting – An action line or moneyline. Another term for spread betting.

Lengthen – When a bookmaker lengthens the odds. The opposite to "Shorten".

Lucky 15 – 15 bets involving 4 selections in different events (I.e. 4 singles, 6 doubles, 4 trebles and 1 fourfold).

Lucky 31 – 31 bets consisting of 5 selections in different events (I.e. 5 singles, 10 doubles, 10 trebles, 5 fourfold plus 1 five-fold).

Lucky 63 – 63 bets consisting of 6 selections in different events (I.e. 6 singles, 15 doubles, 20 trebles, 15 four-fold, 6 five-folds, and 1 six-fold).

Margin – The amount a competitor in an event finishes in front of another competitor.

Multiples – A multiple bet where two or more bets are chosen and all must win for a payout.

Odds – The bookmaker's evaluation of the chance of a team or competitor winning.

Odds against – When the odds (e.g.$2.50 or 6/4) are greater than evens (e.g.$2.00 or1/1).

Odds on – When the odds (e.g.$1.80 or 4/5) are less than evens (e.g.$2.00 or 1/1).

Outsiders – A team or competitor that is not one of the favorites and is not expected to win.

Overlay – A situation in which the odds on a game favors the bettor rather than the bookie.

Over – A wager on whether the combined amount of points/goals by both teams in one match will be over the priced amount.

Overtime – When a set period of additional playing time is added to an existing game when two teams finish on the same score.

Over-under – The opportunity to bet on the combined amount of points/goals both teams will score in the match. A bettor can choose over or under the priced amount.

Parlay – Also known as an accumulator or multiple bet. A multi bet where two or more selections are chosen and required combinations must win for the parlay to payout

Patent – A Patent is 7 bets involving 3 selections in different events, i.e. a single on each selection, plus 3 doubles, and 1 treble.

Payout – Also known as winnings or return. A payout is what a bettor receives from the bookmaker as a result of winning the bet.

Place – To wager on a team or competitor to finish in the top two, three, four or five in an event or tournament.

Point Spread – Referring to the points given to the underdog to level the odds with the favourite.

Postponed – When an event is cancelled and rescheduled for a later date.

Price – Also known as the odds. A price is decided by the bookmaker to reflect the chances of that particular team or contestant winning or placing in an event.

Proposition bet – This type of bet is odds set by the bookmaker on unique and various topics. This can include politics, pop music, etc.

Punter – Slang term for a person having a bet.

Push – A push is when there is no winner or loser in a bet.

Return – Total winnings returned on a bet.

Round Robin - A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays.

Run down – All the betting information and lines for a specific, date, time, etc.

Runner – This is a person that places bets on behalf of someone else in an effort to disguise the identity of the true person having the wager.

Shorten – When a bookmaker reduces the odds. The opposite to "lengthen".

Single – Also known as a straight bet. Refers to a singular bet on one team, competitor or horse.

Spread – Also known as a point spread. Referring to the points given to the underdog to level the odds with the favourite.

Spread betting - Also known as action line or moneyline. The amount that must be wagered to win $100, or the amount won for a $100 wager. A bet is won or lost according to whether you correctly predict the result of an event. Returns or losses are calculated in proportion to how right or wrong the bettor is, and can lead to huge returns or losses.

Stake – Another term for a bet wager.

Straight bet – This is the name of a bet on just one team, competitor or horse.

Sucker bet – A a betting line that has a large house edge.

System - A mathematically based mechanical method of betting.

Tie – Also known as push or draw. This is a bet where no money is lost or won because the teams or competitors score and finishing place were equal to the number of points in the given line.

Total – A sports bet for the combined amount of goals, points or runs scored by all teams in a game or event. The bettor will wager on whether the total amount will be over or under a priced amount.

Trebles - A triple bet on three events. A form of parlay or accumulator.

Trixie - A Trixie consists of 4 bets involving 3 selections in different events, i.e. 3 doubles plus 1 treble.

True Odds - The real odds of something happening as opposed to what bookmakers offer.

Under – This refers to a Total bet, where the bettor wagers on whether the total amount of goals/points will be under a certain priced figure.

Underlay - When the odds on a proposition are in favour of the house.

Value – Getting the best odds on a betting proposition – those with the lowest bookmaker’s edge.

Vigorish – Also known as juice, edge. This represents the bookmaker’s commission.

Win Only – A bet on a competitor or team to win an event. This is also known as a straight bet or 'Money Line' betting.

Yankee – A bet that consists of four selections, combining them into six doubles, four trebles and one fourfold - i.e. eleven bets.

Asian Handicap Guide

Asian Handicap betting eliminates the possibility of a draw in a soccer game. This allows the opportunity to bet on a game in which teams are badly mismatched. The weaker team is given a head start with a "plus" handicap, while the stronger team receives a "minus" handicap to the same amount.

The predetermined plus or minus handicap is added to the real number of goals scored in a match. You win or lose depending on the result.

Asian Handicaps are offered in decimal form such as 0.25, 0.5, 0.75, 1 and so on. Some countries know them as fractions as in 1/4, 1/2, 3/4, and 1.

Visit Sportsbet for the best Asian Handicap betting markets online!

Asian Handicap Guide - Underdog

Assume you are backing Newcastle against Liverpool as an UNDERDOG in the Premier League.

Newcastle 0 (level)
Win the match and you win your bet.
Drawn match and you are refunded your stake.
Lose the match and you lose your bet.

Newcastle +0.25 (1/4)
Win the match and you win your bet.
Drawn match and you are refunded half your stake.
Lose the match and you lose your bet.

Newcastle +0.50 (1/2)
Win the match and you win your bet.
Drawn match and you win your bet.
Lose the match and you lose your bet.

Newcastle +0.75 (3/4)
Win the match and you win your bet.
Win the match by 1 goal and you are refunded half your stake.
Drawn match and you win your bet.

Newcastle +1.0 (1)
Win the match and you win your bet.
Drawn match and you win your bet.
Lose the match by one goal and you are refunded your stake.
Lose the match by two goals or more and you lose your bet.

Asian Handicap Guide - Favourite

Assume you are backing Liverpool as a FAVOURITE against Newcastle in the Premier League.

Liverpool - 0.25 (1/4)
Win the match by one goal or more and you win your bet.
Drawn match and you are refunded half your stake.
Lose the match and you lose your bet.

Liverpool - 0.50 (1/2)
Win the match and you win your bet.
Drawn match and you lose your bet.
Lose the match and you lose your bet.

Liverpool - 0.75 (3/4)
Win the match by 2 goals and you win your bet.
Win the match by 1 goal and you are refunded half your stake.
Drawn match and you lose your bet.
Lose the match by one goal or more and you lose your bet.

Liverpool - 1.0 (1)
Win the match by two or more goals and you win your bet.
Win the match by one goal and you are refunded half your stake.
Drawn match and you lose your bet.
Lose the match by one goal or more and you lose your bet.