What is Sports Betting?
Sports betting is a kind of activity wherein a bettor would try to predict the outcome of a particular sport and place a wager on it. Most sports bettors choose a particular player, team, or racehorse that they would bet based on its ability to play and they’re being competitive in the game. The majority of sports wherein bets being placed are basketball, baseball, wrestling, boxing, hockey, American football, track cycling, horse race, in some countries greyhound racing, and underground cockfights.
Sports betting, in general, is defined as a widely spread form of gambling and during this age of technology, it has achieved the status as the most favorite pastime of online wagers and sports fanatics around the world. Betting in online sports plays a significant role in Europe most especially to the people in Finland that many online casinos offer betting opportunities and online website which offer excellent online casinos wherein gambling enthusiasts can choose a sports game conveniently. Their carefully selected waging sites offer out-of-this-world promos and bonuses which online bettors cannot resist.
History of Sports Betting
The Greeks started sports betting dating back 2,000 years ago and because of their great love of sports, the Olympics was born and so was the earliest betting on athletic competitions. It spread widely until it reached ancient Rome until it was eventually legalized.
In the early 2000, online sports betting became a trend and it can be found anywhere in the US market and at present, many people are so into waging sports that they not only became hooked in waging but became sports fanatics as well, especially American football and other contact sport games.
What is the Common Bet Type?
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The Win Bets and Moneyline Bets
The bettor places their bets on who they think might win or depend on what the site or other bettors recommend and depends entirely on the chance. This type of bet is considered the most common and straightforward type of bet because punters depend on the lucky stars when they placed a bet and the thrill of it.
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Totals and Over or Under Bets
This type of bet has interchangeable names. Most Americans refer to it as total while others call it over/under. This is a very simple bet which is great for beginners. These are wagers based on the total score of both teams. The sportsbook will set a total line point. So, if the bettor thinks both team scores more than the point given, the bettor will bet over. Now, if the bettor thinks will have a combined score less than the point expected, the bettor will bet under. If you pick correctly, you win your total bet.
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Point Spread and Handicap Spread
This type of betting is familiar both in the US and Europe. In Europe, this is referring to handicaps. It is a number assigned by the bookmakers which handicap or disables one team and favors another when two teams play and one is expected to win.
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Futures and Outright Bets
This type of waging simply means that the bettor has to choose a prospective team or player which they think might win in the future tournament or competition. Due to the longevity of the time when the competition starts, the bettor won’t get much information about the game and the bet can be quite expensive. Sportsbooks prefer this type of waging because of its low-win probability but not preferred by the wagers because of the same reason.
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Proposition Bets and Specials
Also known as Prop bets or specials, is a kind of wage made for a specific game or match. This type of betting style is related to the outcome of the match and not to the final score. The good thing about this system is it is punter-friendly because it allows them to be flexible in making more money in their bets and thus allows them to bet on every aspect of the game for more thrill and excitement.
A parlay is a bet which involves two or more wagers into one in which the bettor receives a bigger payout if all bets in the parlay win. Now if the selection is wrong, then the wager loses.
Bookmakers
Bookmakers are gamblers who accept money and pay off bets. They function as a market maker especially in sports betting. Their main role is to keep more money from the bettors than the payout. They may not be able to control the outcome of the said tournament but a successful bookmaker knows where they stand in this case. A wager should outsmart the bookmaker for them to gain more wage money.
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