Will There Be a Penalty Shootout

Penalty shootout in betting is very common in sports betting, particularly for football (soccer) matches that can go to penalties to decide a winner (like knockout stages in tournaments such as the World Cup, Champions League, Premier League Play-offs, etc.).

• The following options are available:

  •  Yes bet wins if there is a penalty shootout.
  •  No bet wins if there is no penalty shootout.

  * Bets on this market are settled on the result of the match at the end of its full time(include overtime) including all injury and stoppage time.

You can typically bet on:

Will There Be a Penalty Shootout? (Yes/No)
Who Will Win the Penalty Shootout? (Often available once a shootout is imminent or confirmed).
Exact Score of the Penalty Shootout? (e.g., 5-4, 4-3, etc. - often very high odds).
Total Goals in the Penalty Shootout (Over/Under a certain number, e.g., Over 4.5).
First Team to Score in the Shootout.
First Player to Score a Penalty.
Player to Concede the First Penalty.
Number of Penalties Missed.
Important Considerations:

Availability: Not every single match will have penalty shootout markets available, especially league matches that can end in a draw before the knockout stages. It's most common in knockout fixtures.
Live Betting: Most penalty shootout betting occurs as live or in-play betting once the match is tied and extra time has finished.

There are a number of bets you can place on penalty shootouts. Here are the options for football betting 

Team to go through – If you’re betting on a Champions League or European Championship knockout match, you can bet on Home Win, Draw or Away Win within 90 minutes. Or you can bet on which team will go through to the next round (or win, if it’s the final). This bet factors in penalty shootouts and means your bet isn’t lost if the game ends in a draw.
Win on penalties – You can bet on the method of victory for teams in the knockout stages of major tournaments like the Champions League and World Cup. For example, you might bet Arsenal Penalty Shootout as the ‘method’ of a match between the Arsenal and Chelsea.
Live penalty betting – Depending on the game, you might be able to bet on the match winner as penalties are being taken. If this is the case, be prepared for big swings in the odds!
Player specials – Look out, too, for player special bets on penalties. This can include backing a player to score the winning penalty in a shootout or, conversely, to miss the crucial spot kick.