Fixed sports betting is the most common among other types of bet. The main goal of fixed sports betting is to predict the outcome of an event, and if it comes out in your favor, you win your bet. Getting started in sports betting requires no rigorous training but basic concepts. One of the basics of getting started is by checking here for the latest and relevant sports information.
This guide is to provide enough information on the basics of fixed sports betting. Beginners, intermediaries, and experts will find this information very useful.
What is Fixed Odds Betting?
Fixed-odds betting involves the selection of a game and placing a wager on your favorite. The parties involved decide on the odds after placing a wager. This type of betting has been in existence for a long time, without altering its formation nor process.
To clarify, bet and wager have the same meaning. Hence, if bookmakers tell you to wager your game, it simply means to place a bet.
Other sports bet components are; stake, selection, odds, favorite, and payout.
Selecting the Favorite
The first action in sports betting is choosing your preferred team. The bookmaker may present a favorite, but you can choose to go with it or select your personal favorite. However, this selection stage varies with different types of wager.
Game Parties
The fixed odds betting may involve you and a friend or another close pal, while it may be between a person and the bookmaker. In essence, there must be at least two parties standing in opposition to each other.
Stakes
Stake refers to the amount of money you are placing on a wager. The higher the stake, the higher the risk. However, most high stakes come with a huge payout. For example, if you wager a game with Steelers beating the Broncos, and the odds are 2.5, staking $10 would yield a payout of $25. On the other hand, staking $50 would yield a payout of $125. The rules of the game are simple.
Odds
If you are playing against the bookmakers, you should expect a set odds from them. At every possible selection of the game, there is an odd attached to it. Bettors can estimate the payout before wagering a bet.
The odds number is often a reflection of the selection strength. A high odds may yield a high payout, but it is often for underdogs (less favorite) teams. Hence, the underdogs are less likely to win a game. Some gambling sites set high odds to attract gamblers, which leads to loss of much stakes from the gamblers. Hence, take note of this bookmaker’s trick while gambling. Moreover, odds are in three different forms. They are; the decimal odds, fractional odds, and moneyline.
Payout
Payout is the amount of money you receive after wagering your game. If your bet loses, you receive no payout, as the bookmaker owns your stake and intended profit. Hence, the payout includes your stake plus profit.
Conclusion
Hopefully, fixed sports betting has got your interest, and you realized the basic concepts in betting. There is a wide variety of betting markets, and you need to choose the best among others. Your game gets more exciting when you know your onions well.
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