Sports betting is legal in most countries. You can wager on any sporting event whether it be football, tennis, or golf, and you can do so in person at a bookmaker’s shop. But what is sports betting really like? How does it work? Can I win large amounts of money playing sports betting? How exactly do I place a bet? Let’s take a look.
The Evolution Of Online Sports Betting
The initial surge in popularity of online sports betting came about because it was easier for people to place bets from the comforts of their homes. Back in 1995 when the first online sports betting exchange was launched, less than 5% of sports bettors actually placed their wagers online. Nowadays, that figure is well over 90%. Why? The convenience of placing a bet from the comfort of your home and having the outcome be revealed instantly. In other words, the main appeal of online sports betting is that it is relatively easy to place a bet and easy to obtain the results of the event. Sure, you can also do this in person at a bookmaker’s, but the overall experience is more enjoyable if you do it electronically.
Which Sports Are Available For Betting?
It can be a little confusing for new bettors since there are so many different sports available for betting. To make it easier, let’s classify the various sports into tiers based on popularity. We will use the 2018 World Cup in Russia as an example, but this is representative of most sports:
Tier 1: The Most Popular Sports
This is the easy question. The most popular sports are soccer, cricket, rugby, and tennis. These are the sports that you will encounter when you visit a bookmaker’s or online sportsbook website. While it is not always easy to predict the outcomes of these sports, which is why they often rank in the top positions of sporting events, there is always the possibility of a upset. That is what makes these sports so attractive to bet on.
Tier 2: The Second Most Popular Sports
Racing sports like hockey and Formula One are also popular, but their unpredictability makes them lower-risk options for betting. What about the other sports in tier two? You will typically find the other sports in tier two, such as cycling, triathlon, and American football, are more reliable. More often than not, it is easy to predict the winner of a cycling event or a golf tournament. In fact, many big-name brands have entire TV channels dedicated to covering golf tournaments 24/7. American football and hockey are also popular in many places, which makes it easy to find live matches and exciting outcomes when betting on those sports.
Tier 3: The Least Popular Sports
Tier three consists of sports such as karate, snowboarding, and car racing. These sports are generally less popular than those in tier one and two, which makes it harder to find relevant odds and bigger returns when betting on them. There are exceptions to this though. Karate, for example, is extremely popular in Japan and some other Asian countries, so much so that it even ranks above soccer in terms of popularity. This is mostly thanks to Japan’s Karate Federation, which organizes an entire tournament season dedicated to the sport (known as the “Karate Tour”). The other sports in tier three are mostly associated with motorsport, which makes it harder to find betting odds when playing those sports. For instance, it is very difficult to find odds on snowboarding or car racing since those sports are associated with expensive mansions and fast cars. Those are the types of bets you won’t win often if you are playing with $10.
How Do You Place A Bet?
Let’s take a quick look at how you place a bet in four simple steps:
Step one: Set up a betting account.
The first step is to visit a bookmaker’s website and create an account. You will then be asked to verify your email address and create a password. Next, you will be asked to make a deposit. Most bookmakers will require you to deposit money using a credit card or electronic funds. Finally, you will be asked to confirm your email address and enter the captcha to complete the registration process.
Step two: Find an event you want to bet on.
The second step is to search for the event you want to bet on. Most online betting sites will have an ‘events’ tab at the top of the homepage. You can click on this tab to easily navigate to the list of sports and tournaments available for betting. When searching for an event, make sure to enter the correct country, state, and sport. If you do not know which country, state, or sport to search for, just click on the ‘All Events’ tab at the top of the homepage to bring up a long list of sports and tournaments available for betting.
Step three: Find the odds.
The third step is to find the odds on the event you searched for. You can click on the ‘Odds’ tab at the top of the homepage to bring up a list of all the odds available for that particular event. Make sure to check the ‘Expected’ and ‘Actual’ outcomes, as well as the ‘Line’ and ‘Bid’ for each matchup. This way you can easily compare them and find the best odds for the event you are interested in. You can use this information to determine whether or not the bet you want to place is a good idea.
Step four: Make a choice and hit the button.
The fourth and final step is to make your choice. Once you found the odds you want to bet on, simply click on the option you prefer and the page will refresh with the chosen matchup. Make sure to bet on the option with the best odds. If there are several options with equal odds, hit the ‘bet on all’ button to have your chip deposited at the same time. You will then be shown a confirmation page that your bet has been accepted and the funds will appear in your account. Congratulations! You now have a working betting account and can begin placing your first bet!
As you can see, everything you need to know is on the homepage of the betting site. You do not have to click anywhere else to place a bet or check your bets. Simply visit the homepage and follow the four steps outlined above.
Why should you bet on the result of an event?
As laid out above, it is relatively easy to place a bet on the outcome of an event. This is mostly because most books make money off of sports bettors by taking bets from people. If you visit a bookmaker’s website and click on the ‘bet now’ button for the event you want to bet on, you will be shown a variety of options for odds and you will be able to make a decision very easily. Another reason you should bet on the result of an event is because nearly all bookmakers will list the events that are closer to the date. So if you want to place a bet on the World Cup, make sure to search for matches closer to the end of the year.
That is how placing a bet works in general, but there are a few more things you should know. For one, you should always check the rules and regulations of the bookmaker you choose. Some sportsbooks and online betting sites do not accept certain types of bets or do not allow certain players or teams to be bet on. Find out what the rules are before you start placing bets.
Also, whenever there is an upset, some bookmakers will increase the vigorish (the percentage of money that is taken from each winning bet) for that day only. This is to encourage people to come back and place more bets in the event of an upset. Vigorish is usually around 10-20%, so if you see a steep increase in vigorish in the event of an upset, it is a good indication that the game was close and there were lots of upsets that day. If this is the case, then chances are you will win some money back from your bet.
What Are The Most Popular Sports For Betting?
As mentioned above, soccer, cricket, rugby, and tennis are the most popular sports for betting. Interestingly, the majority of these sports are also some of the most popular sports in the world. This is due mostly to the fact that people around the world love to watch and wager on sports. There is also a large following in the U.S. for American football, with over 150 million people watching the Super Bowl each year. This makes it likely that you will encounter American football and the Super Bowl when you play sports betting.