What to know before jumping into the live sports betting wagon
Sports betting has been going on for centuries, we could argue that it has been going on since people started playing sports. While watching any sports match, have you ever placed a bet with your friends? If you have, then you have unwittingly engaged in the sports betting activity. Sports betting is an act of predicting the sports results. Players will place a bet on their prediction of the winning team or outcome of a game or competitions. This bet could be
anything from money to drinks to even clothes but sports betting is usually done using money.
People who bets in sports are called sports bettors. Sports betting is done either legally through a bookmaker/sportsbook, or illegally through a privately-owned company. While many sports bettor wagers on football, basketball, baseball, hockey and many more, there are also bets placed for the many different things such as reality shows, competitions, political elections, television series predictions and even the entertainment awards events such as the Grammy Awards, the Emmy Awards and many more.
Types of sports betting
Fixed Odds Sports Betting
Fixed odd sports betting is the classic form of sports betting or gambling. Even though the term” fixed odds” are not widely known, this term defines the agreement of both parties on the odds during the placement of a bet.
The fixed odd sports betting is very simple, sports bettor simply places bet on players, teams or anything they like and if the event that they bet on happened, then the sports bettor will be given the paid out if they win. For instance, a bet was placed on a football team winning the match and if the team wins, then the everyone who placed bets on that team will receive payout.
In Play or Live Sports Betting
This is a newer form of betting that has only been around for a few years now. This form of betting only became popular after the introduction of internet. These kind of betting generally covers a wide range of a variety of sports, events and even entertainment industry.
In play or live sports betting, sports bettors are able to place bets after the event has started. This is actually a form of fixed odd betting with one major difference. In the classic fixed odd betting, the wager is placed BEFORE the start of the particular events however with the play or live betting, the wager can be placed ANYTIME after the event has begun, right up till the moment when the event is about to be over.
Almost everyone guys and girls have heard of Call of Duty, Dota 2, Counter Strike: Global Offensive and League of Legends. These games are known as the Electronic sports (ESports) which is also the newest form of betting among sports bettors. E-sports or professional video gaming have seen a large spike in popularity in the recent times.
As the interest on e-sport grows, sports bettor automatically starts to bet on these events. Esports betting is now widely popular and available. Several organisations was even formed to help run the main E-sports gaming events with the presence of live audiences and live telecasts of those events. This was done to increase the credibility of the results of the Esports events and to reassure sports bettor to bet on these events.
This kind off of betting is usually not normal. Most sports bettors prefer to bet on the current event or on games that’s going to occur soon. Future betting means wagering on something that would occur in future. This is usually not a bet on a person but on a team or league.
Future bets are usually more for long-term investments. Many starts future betting on teams that might win even before the league or season of the sport starts. This type of betting if done right could be seen similarly to investing on stock market. Also similar to stock market, there will be no certainty that your future betting would be successful but if you do good research on the game and player, you should be able to rake that cash.
Total and over/under bet
Total and over/under bet is connected. Total wager can also be referred as over/under bet. This bet is known as one of the easiest and most famous bets to make in sportsbook. This bet is usually available for major sports such as, baseball, football/soccer, basketball and hockey.
In total and over/under bet, sports bettor will simply choose if the number of points scored in the game is over or under the number listed by the bookmarker and that is all matters. The winner or losers of the game doesn’t matter. For example, the sports book listed 5 as the number, if the final score of the game is 2-2, the bettors who bet on over will lose their money whereas those who bet on under will win. In case the team scored 3-2, which is the exact same score of the sports book, the bet would “push” and all bets made will be refunded.
Sports betting glossary
There are some terms that any sports bettors should know. If you are new or relatively new to this and is not so familiar with the sports betting terms, we’ve got you covered. Below, you will be introduced to some of the most important terms for a sports bettor.
Action – This refers to the money used to bet on a contest or race. Example: I have some action on England team.
Betting Line – This is also known as the odds or point spread.
Buy (Points) – This term is used when a player adds on to their initial bet amount to receive at least half-points or more to his favour mainly in a point spread game.
First-time bet – This term is used for bets that are placed on the scores before half-time.
Future Bets – This is referring to a bet for some future event. Example: betting on a World Cup team.
Half-time – This term is used for bets placed on scores only on the second half of the game.
Handle – This term is used to explain the total amount of bets taken.
Hold – This term is used to refer the percentage the house win.
Laying the points – This is when a sports bettor takes the favourite. Example: He went on and placed a wager on the crowds favourite.
Line – This term is used to refer to the current odds or pointspread on a particular event.
Odds – This is a general term for the betting and point spreads.
Parlay – This is a bet where a person would select more than one outcome that would happen. The higher the number of events, the higher the payout but this is a risky gamble as in case one part of the bet doesn’t happen, the entire bet is a loss. Example: a sports bettor bets on the winning team, the number of goals that the team would score and also the players who would score the goals. The sports bettor managed to guess the winning team correctly, the number of goals correctly but got one goal scorer wrongly, his entire bet whole be a loss.
Pick ‘em – this term is used for games that have no favourites. Both the teams have equal bets and bettors. Bettors must pick the winner.
Push – this is a bet that results in a tie. In this situation, neither team will win and all the bets will be returned to the bettors.
Sports book/ Bookmarker – this is a person who accepts wagers on games from sports bettors. This could be both legal and illegal. The word “book” in this word means placing a bet.
Betting on one or many sports
Betting on either one or many sports is another factor that needs to be taken into consideration for a sports bettor. Making this decision is definitely not easy as there are many different factors that needs to be taken into consideration. If you are new to sports betting, it is better to stick to one sport.
This is because you will become more familiar with the sports and the trends. It is suggested that you pick the sport you are most familiar with. This way you wouldn’t need to start from nothing, you would have some knowledge on the sport you decide to bet on. You would need to study the teams in the sports, the strengths and potential winners.
Having a solid background on one sport can help a sports bettor to dip their feet into another one. One thing that a new sports bettor shouldn’t do is that going with the flow and betting on multiple headline games. While you can bet for fun, if you want to win some money, it is better for you to put your money on a sport that you are confident on.
Other than that, focusing on a single sport helps you concentrate and focus on finding the value of the sport in the market. Analysing this would give you more details hence more chances of placing the bets on where the best value lies. This is much more difficult to achieve when the focus is placed on many different sports.
Nowadays there are many websites that are dedicated to teaching new sports bettors on all the things one needs to know about sports betting. There are also many good sports betting apps that might accommodate the needs of a new sports bettor Top 3 Sports Betting Apps You May Want to Try Out All in all, the only main thing that we want is to help give some important inputs to make the venture into the sports betting more enjoyable.