Betting on Sporting Events
Betting on sports is simply the act of placing a bet on the possible outcome of a sporting event and predicting sports results based on research, statistics, team analysis, etc. The frequency of placing sports bets varies greatly by culture, with most bets being placed daily, weekly or monthly in most places. It can also take place at national level, but is most common at the club level where players and teams are often actively promoted and marketed to the wider betting public. The biggest game sports such as soccer (football) and baseball have very passionate and enthusiastic following and bettors there are even dedicated betting forums where members swap information about the teams and players
In simple terms, a bettor places a bet when he believes that the total sum of all possible outcomes for a given game will produce an outcome that he can make a profit from. Most often than not, bettors base their bet decisions on what the odds of the game are; this is usually reflected in the odds printed on the side of a betting slip, while other times bettors rely on other sources such as official weather reports or the latest score line by the match officials. Bets are then placed on those odds, with each bettor receiving a specific fraction of the total bet as his’reward’. The more serious betting takes place in the form of ‘wagering’, where bettors place a single bet and then wait for the result to be announced before they match the amount they placed as their win. As the saying goes, it’s easier to pick the ball than to shoot it. Wagering has been around since the ancient times and is still popular in the UK, where bookmakers such as Ladbrokes and William Hill offer ‘wagering’ accounts.
With betting on sporting events, the total number of points scored, or ‘points’, is considered along with the relative strengths of the two teams. If a game is won by a margin of more than a certain number of points (for example, a win by seven points), the bettor will receive the payout but if the difference is less than that, he has to split his winnings between his two bets, one for the underdogs and one for thedogs. The recent trend in favor of the underdog has been strengthened by recent wins by the favorites and, if you’re looking to place your bet on a game in this category, you need to look carefully at the odds and spread. You don’t want to bet on an underdogs but lose when they hit the boards because you over-sized your bet!