Sports Betting Guide
Sport betting is becoming more popular throughout the world. This is largely due to the fact that most bookmakers now operate online, and can be accessed quickly and efficiently via mobile phone, tablet, home computer, or virtually any device that has internet access. More so, most online bookmakers offer free smart phone applications, which, when downloaded, turn a mobile phone into a portable betting station.
This increase in sport betting popularity means that many newcomers are entering onto the scene for the first time. Betting on a sport, although often a relatively straightforward process of simply selecting a favourite team, can become confusing at its deeper layers. Here is a brief sports betting guide to help a newcomer understand the online bet making scene.
First in this spots betting guide are odds. Odds determine not only how much a bet is going pay out, should that bet win, but also the likelihood of that bet winning. It is obvious that betting on a favourite team, or player, to win is a low risk bet, since the chances of that player or teaming winning are high. For this reason a bookmaker will not pay out a large amount, for that team or player winning, since it would mean the bookmaker would go bankrupt very quickly. If, however, a bet is placed on an underdog to win, the payout will be much larger, given that the statistical chances of that team or player winning are lower. Hence, bookmakers encourage high risk bets on underdogs.
If the odds for a team are 1:2, this is referred to as even money. It means that if you were to bet $10, you would get your initial bet back, plus an extra $10. So, $10 profit. It is a low risk bet, and in order to make any kind of big payout, a very large bet would have to be placed. If the odds were 1:8, this would be a much bigger payout. A bet of $10 would return the original $10, plus an extra $80. The risks involved, however, would be much higher. So it is clear to see that an underdog bet on odds of 1:8 is far more beneficial.
Besides odds, there are types of bets which bettors need to be aware of, given that they fundamentally change the way a bet works. A money line bet means that the bettor is deciding on a team or player to win straight up, without any handicaps being applied. This is best in a situation where the two parties are evenly matched, and have a fair chance of winning. A spread bet, however, applies a handicap that balances out the two teams.
In a spread bet, the two teams do not have an equal chance of winning, and one clearly outranks the other. A bookmaker will apply a handicap in order to make the contest more balanced. For example, a spread bet will read as such; Team 1: +1, Team 2: -1. This means that at the end result of the game, the first team will have a point added to the total score, and the second team will have a point deducted from the total score. These new numbers will be the official end result, and bets will be paid out according to this altered result.