Sports Betting Guide
Introduction to sports betting
Betting is a gambling activity in which a person place money on a bet, also called wager, in which he has to correctly predict the outcome of a sporting or cultural event in order to win money. Sports betting is the most popular type of betting. In most cases, people make bets with the bookmakers, either with the use of the telephone, betting shops or online bookmaker websites. The amount of money won on particular bet is calculated by multiplying the amount of money we have placed on the wager, known as the stake, with the odds offered by the bookmaker. People who often bet on sports are known as punters (UK and most Europe) or bettors (U.S and rest of the world).
Essentials of sports betting
One of the most important things in sports betting are the odds offered by the bookmakers. As it was already mentioned, your winnings are based on the odds and the stake you place on a particular bet. One of the best ways of winning big money is finding a Value bet - which is a bet for the outcome of an event with best possible odds. The odds can change very rapidly, especially in Live-betting. Sometimes, one punter can win more money on the same selection as other punter because he place his bet earlier. Usually, the odds for the favourite of the event are lower because the bookmakers balance their odds based on the number of bets and money placed on both sides. That way, you can win more money betting on the underdog, which is the side that is considered weaker. If a punter wants to be successful and win money, he needs to remember about few essentials of sports betting. These include:
- Proper bankroll management (managing your betting budget)
- Good attitude (positive thinking, focus, cool-head, patience)
- Thorough analysis of the event
- Knowledge about the statistics and important information
- Betting system (a strategy that we will use in our betting)
- Good reflexes (being up-to-date with the news connected with the event we want to bet on and using this to get an advantage over the bookmaker)
Betting shop or online bookmaker
Up until the beginning of the 1990’s, there were only traditional bookmaking companies that operated through a chain of betting shops. Then, with the introduction of the global web, new possibilities arose for many bookmakers. Nowadays, the majority of the biggest bookmaking companies are online bookmakers. It should be noted, that most classic bookmakers that operate solely via betting shops and offices at racetracks focus on horse and greyhound racing. There is also an bookmaker option for placing bets via telephone, but the majority of such bets are with very high stakes. The reasons behind the popularity of online bookmakers websites are obvious: conveniency, flexibility and profitability.
In online betting, you don’t need to be physically present at the bookmaker's shop. You can bet from home or work using your mobile phone or computer. What is more, you can place bets anytime you want. You are not limited by the opening hours of the betting shop. A great benefit of online betting is the access to all information on a given event. You can check statistics, read opinions and predictions or even live-stream the game that you want to bet on. The majority of bookmakers offer various apps and tools that can help you in your betting. Probably the most important advantage of the online bookmakers is the Live-betting, also called In-play betting. This form of betting is available almost entirely via the online bookmaker websites.
The online bookmakers
Another crucial decision is choosing our bookmaker. You should pick the bookmaker that bests suits you. The most important factors that are worth considering when choosing a bookmaker include his reliability and swiftness of pay-outs. Other important criteria are the bonuses and odds he is offering as well as the variety of bets and sporting events and customer service and whether his website is accessible and easy to move on. If you want to get a thorough analysis of the best bookmakers on the market, visit our bookmaker review section.
Forms of betting
Before placing your bet, you should decide which form of betting you will use. The majority of bets in the world are placed with a fixed-odds betting system. Here, the bookmaker offers the odds before the event, thus, the punter knows precisely how much money he can possibly win. The most popular types of fixed-odds bets are classic 1X2 (home win, draw, away win), outrights and correct scores. It should be noted that there are various types of odds in sports betting, with the most renowned being the Fractional odds, used mainly in the U.K, the Decimal odds used in Europe, Australia, Canada and the majority of the world and Moneyline odds used primarily in the USA.
Another very popular form is the Handicap betting. In this type of betting, the punter needs to predict whether the team or a player, will cover the handicap, also known as the spread provided by the bookmaker. The handicap, is an advantage given to the team that have theoretically lesser chances of winning the event. Handicap could also be a line offered by the bookmaker for the number of goals/points/corners/penalty cards and other events depending on the discipline of sport. Bets where the punter predicts whether the line offered by the bookmaker will be exceeded or not are called Over / Under bets.
Other significantly less popular form of sports betting is the so-called Tote betting, also known as the Parimutuel betting. As the name suggests it, here, the machine called totalisator chooses the winner of a bet. First all the bets are placed in the ‘pool’, then the already mentioned machine calculate the winnings for all successful bets. It should be said here, that in this form of betting, the odds are set after the event and the players are betting against each other rather than the bookmaker. Read this guide to forms of sports betting to know more.
Types of bets
There is a wide variety of bets for almost every discipline of sport. They can be categorised into following categories: single bets and multiple bets. Single bets are the most popular type of bets. Notable single bets are the Handicaps, Point Spreads, Total bets (Over / Under), Outright bets (Futures) and of course classic 1X2 bets (Home win, draw, away win). Multiple bets include betting on more than one selection. Some of the multiple bets include combo bets (Accumulator) and system bets (Permutations). Other types of bets include Forecasts, Conditional bets (Any to Come), Specials (Novelty bets) and Live-bets (in-play). Read this article if you want to know more about types of bets.
What sport is best for betting
Choosing the discipline of sport and a particular event that we are interested to bet on is also very important. We have created a betting guides for most disciplines of sport, that you can find in our sports betting guide section. Obviously, most of you will want to know which disciplines of sport are the easiest to bet at or which ones are the most predictable. To know more about the predictability of sports disciplines read this guide.