Understanding Sports Betting

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The World Cup 2018 might have ended, but this does not mean that there are no sports events to wager on. The sports betting market is one of the biggest gambling markets in the UK, and the activity is also embraced by millions of people worldwide. 

Sports betting is considered one of the most profitable gambling activities, which is why so many people happily embrace it. Nevertheless, the enterprise is far from simple; in fact, sports betting is regarded as among the most complicated gambling activities.
This article aims to explain sports betting. In the following lines, we will focus on sports betting odds and sports betting types, as well as explain why it is essential to choose a good bookmaker. Hopefully, our guide will help you better understand sports betting so that you can place more winning bets.

Understanding the Odds

Beginners tend to ignore the odds in some football betting sites, but you should know that they play an integral role in sports betting, and it is vital to understand how they work in order to become a successful sports betting punter. First of all, there are three types of odds – decimal, fraction, and moneyline odds. In the United Kingdom, bookmakers utilise fraction odds. Decimal odds are primarily used in Europe and Australia, whereas moneyline bets, known also as American-style odds, are used by bookies in the US. 

Fraction odds inform you of the amount of profit corresponding to your wager if it wins. So, if you have fraction odds of 3/1 and you stake £10, should your wager be a winner, you will receive a £30 profit. Decimal odds, known also as European odds, represent the total amount you will receive if your bet is a winner, including the return of your wager. For example, if you place a bet, amounting to £10 at odds of 3.75 and your bet is a winner, you will receive a total of £37.50.

Finally, moneyline odds are based on a single bet without points spread; they are also set on $100. Generally, moneyline odds are represented as either +100 or -100 (of course, the numeral can vary). If the number is positive, it shows how much you will profit if you stake $100. So, if you have odds of +150 and you stake $100, you will receive a total of $250 if you win. Conversely, should the numeral be indicated with a minus, it shows how much money you need to stake in order to realise a profit of $100.

Learning How the Market Works

When it comes to sports betting, you will be surprised how many betting options there are – the market is really huge. Below, we will cover some of the most popular betting types, but keep in mind that there are many more.

 Win Bets

This is regarded as the simplest and most straightforward of all bet types and it deals with the winner of a match, or other sports event. Here, you simply back a team to win the given event.

 Over/Under Bets

Another widely popular bet type is the over/under bet. Basically, you have to guess whether a given total (usually the total number of goals/points scored by both teams) will exceed the numeral proposed by the bookmaker or not. This type of wager is known as Totals Bet in the US.

Handicap Bets

Essentially, handicap bets give an advantage of one team/player over the other. Most commonly, this type of bet is utilised when an underdog plays against a favourite. The handicap bet “handicaps” the superior team, and this is shown as, for example, -1.5 goals. In this case, if you bet on the team with a handicap of -1.5 goals, that team has to score at least two goals more than the opponent for your bet to be a winner.

Outright Bets

Simply put, the outright bet is generally placed on the winner of a major tournament, or a league. Here, for example, you can bet on the winner of the UEFA Champions League.

Other Types of Bets

In addition to the aforementioned bet types, which are relatively simple, punters can also place more advanced wagers, such as accumulators and if bets. Accumulators utilise various selections within one single bet. As for the if bet, in brief, it is regarded as a safer alternative of the accumulator, as it allows you to make subsequent bets only if your initial wagers turned out successful.

Choosing a Bookmaker

Finally, understanding how sports betting works is not everything – it is also vital to choose a reputable bookmaker. We advise you to thoroughly check each bookmaker before making an account, as some sports betting sites are not safe.

 In addition, keep in mind that odds are different at different operators, which is why it is advisable to shop around in order to find the bookmaker with the best odds.

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