How Does Betting on Boxing Work?

One of the most exciting sports to follow in the 2020 Olympic Summer Games in Tokyo is undoubtedly the boxing matches. The action unfolds at the Olympic boxing gym, the Saitama Super Arena, with countries such as China, Japan, and South Korea putting on a display of athletic prowess and raw power. But how exactly does betting on boxing work? Let’s take a closer look.

Odds and Points For/Against

One of the things that make the 2020 Olympic Games so exciting is that the competition is wide-open. Unlike previous Summer Olympics, where the United States and Russia often dominated the competition, this edition of the Games sees a number of competitive nations going head-to-head for gold. This is great news for bettors, as there are now a plethora of exciting matchups to choose from.

In terms of odds, you will usually find both sides reasonably priced. For example, a bookmaker might be offering 2/1 (2.0%) on England to win the gold medal in the men’s heavyweight boxing competition. That means you will need to wager £100 on an England win to make £200. Bookmakers prefer to be paid in bets rather than odds, so if you are new to betting, keep an eye on the exchange rate and try and deposit funds using a credit card to maximize your chances of generating a positive return on your investment.

What Are The Betting Limits In Place For The Boxers?

In most countries, betting is either completely legal or fully regulated by the government. However, in some countries, including Japan, betting on sporting events is illegal unless specifically permitted by law. In these situations, the government agency tasked with regulating sports will usually put in place limits for the athletes competing in that sport.

For example, the Japanese Sumo Association limits the amount of money that can be wagered on Sumo Wrestling matches to 1000 yen per day for each person. This is a difficult rule to follow, as Sumo matches can run over three hours, making it difficult to justify wagering on them when the limits are in place. However, there are ways around this obstacle. For example, if you are attending a Sumo Wrestling match held outside the main arena in Tokyo, you will be granted special permission to spend more money on food and drinks.

How Do You Calculate The Pay Out?

When a winner is determined in a boxing match, the fight director will usually order the two contestants to the center of the ring and shake hands. At this point, the winning boxer will usually be announced and awarded the trophies and cash prizes. In some instances, the match will not be officially scored until both boxers have had a chance to present themselves for the judges’ inspection, at which point the fight will be officially declared a draw. This is an important distinction, as betting on a draw is more profitable than betting on a predetermined winner.

In a situation where only one boxer is determined to have won a particular fight, the fight director will order the victorious athlete to the center of the ring and the loser will be declared to the spectators. At this point, the loser will usually be allowed to retain his/her dignity and leave the ring without a formal award ceremony. However, there are instances where the loser will be forced to ceremonially leave the ring, despite having won the fight. This is usually reserved for cases of extreme brutality or violent conduct during a match.

Where Can You Bet On Boxing?

Depending on where you reside, you may be restricted to a number of different betting options. If you are in Italy, for example, you will only have access to certain types of sports betting, while others, such as horse betting, are completely unavailable. This is largely due to the fact that boxing is not considered a ‘popular’ sport in Europe, with gambling being viewed as more of a vice than a pastime. The situation is slightly different in countries where sports betting is allowed, with bookmakers often preferring to offer their services on non-traditional gambling platforms like the Mac or Windows App Stores.

What Are The Most Popular Games To Bet On?

The vast majority of sports betting enthusiasts will usually focus on the major sporting events that take place worldwide. Fortunately, this year’s Summer Olympics offer an array of exciting matchups for those who want to venture beyond the traditional football/soccer/rugby options.

To start with, there is boxing, of course, which is being presented in Tokyo as we speak. This is followed by the men’s volleyball tournament, which also takes place in Tokyo this year. And then there is the men’s basketball tournament, which is being held in China. All of these events are immensely exciting and it would be a shame to miss out on the action simply because you are not based in one of the countries where the games are being held. If you do want to place a bet on one of these events, make sure you do so in advance of the competition, as bookmakers and exchanges usually have minimum age requirements in place and will not allow registration if you are under the age of 18.

Deportation And Illegal Activities

In some countries, being involved in sports betting is not only illegal, it is also considered to be an indication of dubious citizenship. This is particularly the case in Australia, where residents have been deported for merely betting on sports. In the United States, where sports betting is legal, individuals have been prosecuted for conspiring to violate the federal ban on sports gambling, along with wagering on any sporting events held in Nevada. In these situations, it is usually a misdemeanor offense, punishable by a fine and/or time in jail.

However, it should be noted that many bookmakers and sports figures are attempting to bring sports betting into the 21st century, by creating their own leagues and organizing online betting pools, where participants can bet on the outcomes of various sporting events. This, in turn, has led to a growing number of people deciding to capitalize on this opportunity and get involved in sports betting, whether it is legalized or not. With this in mind, it would be wise to approach any form of gambling with caution and only do so as part of a fun and educational activity. Otherwise, you might end up in trouble…which, admittedly, is a scary thought for a sports fan.