Penalty Awarded Betting

Penalty Awarded Betting Explained

There's nothing complicated about betting on penalties awarded. As the name implies, in this market, you bet on penalties. If you are completely new to football betting, a penalty kick is a set piece awarded to a team when the opposition has committed a foul in its own penalty box. So when you bet on penalties, you wager on two possible outcomes:

• A penalty kick will be awarded: Yes
• A penalty kick will be awarded: No

As you might imagine, the odds for the Yes outcome are significantly higher than the odds for the No option. That's because penalty kicks are not awarded in every match. However, those rare occurrences also mean that there is great value in these types of wagers.

Moreover, there are several variations of the original penalty awarded bet that also bring about enticing betting opportunities. These include penalty markets such as Penalty To Be Missed, First Penalty Taker, First Goal to Be a Penalty, Will There Be a Penalty Shootout, etc. So, if you are into prop betting options of this kind, you will love the wide range of penalty bet types top online bookmakers offer.

Penalty Awarded Betting Markets

When you join top-quality online bookmakers, you can bet on several penalty betting markets. The more popular the football match is, the better these penalty wagering options will be. Let's look at these bet types and see how you can wager on each one.

Will There Be a Penalty Kick?

The most common sports betting market when it comes to penalty kicks is whether there will be a penalty awarded in a match or not. For instance, if you bet on the UEFA Champions League football match between Real Madrid and Juventus and predict that there will be a penalty awarded during the game, the referee must point to the spot at some point during the 90 minutes. It doesn't matter which team gets the penalty and whether the penalty kick is converted into a goal.

Alternatively, an online betting site may provide you with a penalty awarded bet type, where you can predict which team will get the penalty, Real Madrid or Juventus. As you might expect, the odds for this betting market will be higher than the original version of this bet due to the wager being trickier. However, if you get this wager right and successfully predict that Real Madrid or Juventus will benefit from a penalty kick, you can get substantial winnings.

Penalty Taker Market

Some betting sites will allow you to bet on which player will take a penalty during the match. This wager might sound tricky, but it is quite easy to get right if you know who is the designated penalty taker for each team. In other words, if you know who usually takes penalties for Team A or Team B, betting on this market is almost the same as wagering on whether there will be a penalty awarded. Of course, the higher odds are an added bonus.

As a variation of this sports betting market, you can also wager on which player will take the first penalty in a match. Another alternative when it comes to these individual player markets is who will score the first penalty in a penalty shootout. Depending on the bookmaker, you can also bet on which football player will take the last penalty in the penalty shootout or whether a football player will be one of the designated penalty takers during the penalty shootout. The options are endless, but you need to join a top-notch online bookmaker.

First Goal to Be Scored from the Penalty Spot

Top bookmakers allow you to bet on how the first goal will be scored. Whether it is scored from open play or a set piece, such as a penalty. As with other markets, your penalty betting options here will depend on the sportsbook. That means you can bet on a wager saying the first goal will come from a set piece. So, if the first goal is scored from a free kick or from a penalty kick, you will win. Alternatively, the bookies might offer one market for a penalty, one for a different set piece, and one for a goal scored from open play.

Will a Penalty Kick Be Missed?

An interesting variation of the standard penalty awarded betting market is if a penalty kick is awarded and then missed by one of the teams. For example, Team A might get a penalty and score. If that happens, your bet won't win. However, later Team B might get a penalty kick too. Luckily, Team B misses the penalty, meaning your bet is a winning one.

Match Goes to Penalty Shootout

Penalty shootouts happen during knockout matches and are quite common in crucial elimination-round games such as quarter-finals, semi-finals, and finals of popular competitions like the UEFA Champions League, Europa League, or the Conference League. As with the penalty awarded betting market, when you bet on this market, you choose between the Yes and No options. In other words, you predict whether the match will go to penalties.

So, for you to win your bet, there shouldn't be a winner after 90 minutes and after extra time. In contrast, if you bet on the No option, you want the match to be decided before the penalty shootout. However, keep in mind that the odds for the No option will be significantly lower than the Yes option.

Conclusion

If you are looking for a change of pace and betting on markets other than the standard moneyline and handicap wagers, you can check out penalty awarded betting options. As we explained, even though they are slightly tricky to get right, wagering on these markets is pretty straightforward, as you only need to predict whether there will be a penalty in a football match or not. The alternative penalty markets, such as First Penalty Taker or whether there will be penalty shootouts make for an even better wagering experience.

At Betpack, we analyze and compare the best betting sites for wagering on penalty kicks. We look at penalty betting markets and odds but also examine payment methods, help-desk availability, bonuses, and special features. So, if you are looking to enjoy betting on penalties to the fullest, we recommend you start your sportsbook search with the top-rated betting sites we feature.