Sports betting is an extremely popular type of gambling activity that attracts audiences from various markets. Slotegrator has prepared a simple introduction to sports betting, explaining the main principles and betting types.
Sports Betting Guide
In sports betting, punters place a bet and have to correctly predict the outcome of a sporting event to win money. The amount of money that punters win is calculated by multiplying the amount of money wagered with the odds offered by the bookmaker. Today, bets are made via online betting platforms, but in the past, betting shops were used.
Up until the beginning of the 1990s, punters physically went to bookmaking companies, called betting shops, or placed bets via telephone. Then, with the introduction of the Internet, more betting possibilities appeared. Online betting has quickly become popular because of its convenience, flexibility, and profitability.
When betting online, punters are able to place bets 24/7 from anywhere, using their computer or smartphone. Additionally, online betting platforms provide different kinds of information, allowing punters to check statistics in real time and follow the live stream of the sporting event.
Essentials of Sports Betting
For successful sports betting, punters should keep in mind two essential components: the odds offered by the bookmakers and the amount of money they place on a particular bet. It is important to remember that odds can change very rapidly, as bookmakers usually balance their odds based on the number of bets and amount of money placed. According to sports betting experts, to be successful, punters should:
- carefully manage their betting budget;
- stay patient and keep a positive attitude;
- analyze statistics, as well as all the relevant data and important information about the event;
- create a betting strategy;
- stay up-to-date with the sporting event’s news.
Forms of Sports Betting
Before placing bets, punters should decide on the form of betting, as there are various strategies.
- Fixed-odds betting. This is the traditional form of sports betting where punters predict the outcome. The odds are called fixed, as they are agreed upon when the wager is placed.
- Pari-mutuel betting. This is mainly used for wagering on horse racing, and removes the need for a bookmaker, as there are no odds involved. Stakes are paid into a “pool,” and those who win are paid out a share of this pool.
- In-play betting. This is similar to fixed-odds betting. The only difference is that wagers are placed not before the start of the event, but during the event. That’s why it is also called live betting.
- Spread betting. In this betting type, there are no fixed odds. Punters’ wagers don’t just win or lose, as the wager is placed on a number. This way, the amount won or lost depends on how much higher or lower the number is than the punter’s prediction. Spread betting is often used for wagering on the total number of goals scored in soccer.
Types of Bets
There are different types of bets in every sports discipline. In general, they can be classified into two main types: single bets and multiple bets:
- Single bets, the most popular type of bets, include Handicaps, Point Spreads, Total bets (Over / Under), Outright bets (Futures) and classic 1X2 bets (Home win, draw, away win);
- Multiple bets are for betting on more than one selection, including Accumulator and Permutations.
Sports betting is a popular gambling activity, that allows placing wagers on different disciplines, making it attractive for many people around the world.