Betting Markets Explained | A Quick Guide to Online Betting in South Africa

When it comes to online betting, understanding betting markets is a key part of knowing how to bet. Whether you're playing Sports, Lucky Numbers, Casino or Live Games, odds and betting markets have a big role to play in predicting any kind of outcome. If you aren't yet sure what betting odds are, start by reading this article and come back here later.

Here we explain what betting markets are, how they work and give you a few easy examples from each category.

What is a Betting Market?

Betting markets are where you go to find odds for events on which you want to bet. They are many different types of betting markets across the various betting products in South Africa like Sports, Casino and Lotteries—with odds attached to all of them.

Online bookmakers in South Africa always offer at least one betting market for any game online. But for products like sports betting, the number of betting markets available on any match can go into the hundreds and even thousands in some cases.

Types of Betting Markets

There are many different types of online betting markets but the broad categories we will focus on below are Sports, Lucky Numbers, Casino and Live Games. No matter which game you want to bet on, there are always multiple betting options available with variable odds to choose from.

Below we explain three broad categories of betting markets and give a few examples from each:

Sports Betting Markets

Most punters who bet on sports are familiar with soccer markets but sports markets range from universal options available across all sports like Match Winner, to soccer-specific markets like First Goalscorer. Learn more about soccer betting markets and how they work.

Casino Betting Markets

When you play Casino Games like Roulette, Blackjack or Poker, there are also betting markets specific to the rules. For example, in Roulette you can bet on markets like Number, Red/Black, Odd/Even, Thirds, etc. While in Blackjack your options are limited to Hit, Stand or Split.

Lucky Numbers Betting Markets

Betting on lotteries, also known as Lucky Numbers betting, involves another set of betting markets related to the draw. Some of these include 1 Number, 2 Numbers, 3 Numbers, Draw Sum Over/Under, First Ball Colour, Last Ball High/Low and Bonus Ball Odd/Even.

How to use Betting Markets

To use a betting market, first decide what you think the outcome of the match, game or event will be. Your next step is to look for that outcome under the list of options. Use the various categories to find specific betting markets.

For example, if you want to bet on a 2-0 Home win in a soccer match, look for this bet under "Correct Score" if it's not on the first page.

Once you've found the betting market you want, check to see if the odds are worth it. You might find that the odds are small, meaning your payout won't be very much.

On the other hand, the odds might be big, which means the likelihood of that event happening is low. If the odds aren't appealing, look for another market that pays the right amount for you. The size of the odds will depend on the bookmaker's margin which is the small fee they charge you to place the bet.

To place a bet on any market, just click the odds and the selection will be sent to your betslip. Then enter your stake and click Submit or Place Bet. Let's hope you find a winner. Good luck!

Also, check out this guide to legal online betting in South Africa plus read how betting odds work in a way that is super easy to understand.

For more about online sports betting and casinos in South Africa, visit the Betting Guide homepage where you can find bookmaker reviews, promotions, betting tips and more.