Sports betting is one of the most popular methods of betting on results and one of the oldest. There are many ways to place a bet, making it an exciting event for all bettors. In basic terms, sports betting is wagering on the results of a game or event for an additional reward if you manage to choose the right team or outcome.
This has become extremely popular with the internet as there are many online sports bookie sites that provides all types of additional features and options. These now include the option to bet while watching the game, which is known as in-play betting. Players can also choose from a broad range of betting options, which offer different winnings and the opportunity to wager on various occurrences in the game. This means you no longer need to wager on only the winning team and have the option to bet on when a goal will be scored or where other contenders will finish by the end of the game.
The range of sports has also increased, allowing bettors to choose from a bigger selection of games. The internet has also allowed bettors to place bets on events from around the world, meaning you are not limited to only betting on games in your country. Here we will look at the different options offered with sports betting, and the types of bets you can place. This gives new bettors a unique advantage in learning how to use sports betting, while also giving professionals a refresh on all the option and betting methods.
How Does Sports Betting Work?
Sports betting might have been around for very long, but there are still many people out there who are avoiding this betting options as they are unaware how it works. However, it’s actually quite simply as you are basically putting your money where your mouth is, meaning if you think a particular team will win, you place a wager on it. The odds displayed on each game would be how much your mouth is worth for that match. Sports betting is basically wagering money on the outcome of an event, and oesn’t need to cover the entire event . Bettors can also choose how their odds are displayed and take advantage of placing different bet values.
It’s important to understand how these odds are displayed as this will give you valuable information that has been calculated by the bookie. These odds will tell you how much you need to bet to win a certain amount, what the favoured team is, and much more. Without understanding the odds, you would basically be placing a bet on the game, but have no idea how much you stand to win or if the risk is even worth going for.
The odds have a lot to do with the teams and their history. For example, taking the world cup holder in football and putting them again a team with a lower ranking would mean the odds are fairly low for the underdog to win. This will decrease the odds for that team, which makes the payout a lot bigger. Most bettors would go for the world champions as they are more likely to win, but with this, the payout would be less.
As mentioned, there are many betting options to choose from, meaning you don’t have to only place a bet for the winning team. You actually have the choice to bet on scores, points earned, the amount of goals scored, the margin, individual players, and much more. In fact, betting sites even allow you to choose when a goal is scored. For example, a bet can be placed on the world champions scoring a goal before half time. These smaller and more defined betting options provide higher winnings as you are wagering on a specific outcome that needs to occur within a certain bracket. While you might bet that the team will score a goal before half time, many other bettors would be wagering that this will not occur.
The betting site provides all the options you need to place the bet you want. Many will offer pre-calculated options and include winning teams, leaders by half time, and much more while also including an option for players to choose such as a number of goals by half time or when the game ends. These options are available with all sports, but obviously, the options differ. For example, in motorsport, you can bet on where an individual driver would finish, choose the winner, and even choose by how far he would win. Bettors can also wager on podium positions, meaning you choose who finishes in first, second, and third.
The odds posted by betting sites are not always fixed, meaning they can change during the betting process. However, this doesn’t mean significant changes will take place, and once you’ve placed a bet, it means you will receive the odds at the time of placing the bet. Betting sites will only change the odds when they see most bettors are favouring a certain team, in which case they will increase the odds for the underdogs to make it more attractive for the bettors.
Sports Betting Bet Types
There are basically 3 betting options you can choose with a sports betting website, and includes the way the odds are displayed. These options include totals, money line, and point spread. It’s important to understand all these options as some sites do not allow you to change the way their odds are displayed.
These bets are the most popular as they are easy to use and most used by the Americans. However, to understand these bets, you need to understand the American betting methods, which includes the 3 or more digit system to show the required bet to win a certain amount of the winnings when betting a certain amount. This is also known as a positive and negative system due to the way these odds are displayed.
This type of display can be used in the UK as well, as most sites allow you to choose how your odds should be shown. Using the money-line option is a great place to start as it is easy to understand. However, this system is mostly used for the overall result of the game.
An example of money-line would be -180, which is a negative number. This is crucial as it indicates your winnings and how much you need to wager. With a negative number, it shows how much you would need to wager to win £100, meaning a -180 will receive a bet of £180 to win an additional £100 if you choose the right team. A positive number means the exact opposite. For example, +180, meaning you will win £180 for every £100 bet placed.
These bets are simply worked out on £100 and do not require bettors to place that amount to bet. For example, with the examples from above, the -180 would require a bet of £18 to provide an additional £10 if your bet wins.
All money-line bets are displayed this way but will include different values depending on the odds. If the teams are equally good, it would mean the odds are very near each other, such as +100, meaning a bet of £100, would provide a winning of £100.
The point spread system is quite unique and is believed to have existed since the 1940’s. The system is basically a handicap system and popular with sports where huge scores can be reached by either team. This includes Basketball, Football, and many others. The system can also be used in sports such as football, but since the goals don’t always reach higher values, you will find the system become a lot more complicated.
These bets will give you a point system for the underdog and the favoured team. However, this is a fascinating system as the points work in favour of both teams. This means you don’t have to bet on the winning team as you can also bet on the underdogs and still make a profit. The point spread basically indicates a number of points a team needs to win or lose by. For example, let’s assume the point spread is 3, it would mean the underdogs need to either win the game or not lose by more than 3 points. If you place a bet on the favoured team, it would mean they need to win by more than 3 points for your bet to win.
These spreads are shown in positive and negative points alongside each team to give players a breakdown of the points required. Most of the time these points also include a .5 decimal point, which ensures the handicap can’t be tied as half a point is not possible.
Cowboys – +3.5
Seahawks – -3.5
This point spread indicates that the Seahawks are the favoured team as they need to win by at least 3.5 points. A simple way to remember this is the fact that it is a negative number, meaning this value will be subtracted from their total score at the end of the game, should they still remain victorious, your bet will win.
The Cowboys, on the other hand, are the underdogs as they need to win or not lose by more than 3.5 points for your bet to win. The positive point indicates that 3.5 points will be added to their score, and should that allow their total scores to exceed the score of the Seahawks, your bet will win.
Steelers – +6.5
Ravens – -6.5
Assuming the game ended with scores of Steelers 25, Ravens 31. Obviously, the Ravens have won the game, but this doesn’t mean the bet has been lost for those who wagered on the underdogs. For those who wagered on the underdogs, you need to take the score and add the spread to the score to see if your bet has won. In this case, the Steelers had 25, which you need to add 6.5 to, giving you a total of 31.5. This is higher than the score of the other team, meaning the bet would have won.
If the scores were 25, 32, your bet would have lost as the Ravens you have still have 0.5 higher than the total. However, those who wagered on the favoured team would work it out different as you would take the total score of the Ravens and subtract 6.5, which gives you 25.5, which is still higher than the other team, meaning your bet would have resulted in a win.
The totals betting system is the easiest to use and to understand as this merely indicates whether or not the score will be over or under. For example, a match would show 5.5 as the total, you can simply be under to say that it will be less than the amount shown for that team, or over meaning it will be more for that team.
These scores can be used as individual teams or as a spread system, which indicates the differences between team scores. Sports betting sites will also provide the bet values as found with money-line bets, meaning over 5.5 –120/ under 5.5 +110, meaning you need to wager £120 to win £100 for over, or wager £100 to win £110 with under.
With all these betting options and the huge range of sports available, you will find the world of sports betting is a lot bigger than you think. There are many games to take part in and place a bet on while you also have the option to choose from different betting methods and options. Most betting sites provide a fantastic range of features, such includes strategies and other betting options such as in-play betting, parlay bets, and much more. There are also many sites to choose from, which includes promotions such as free bets, additional cash in your account, or cash back rewards.