Many players consider betting to be a fun and entertaining way to while away their leisure time, but did you know that there is more than one type of betting? It would be beneficial to learn the various types of betting, their advantages and disadvantages, and how to properly practice them so that when the moment of truth arrives, you’ll be able to make the right decision for your finances!
In this article, we will discuss the various types of betting and how to get private lessons from a match-bettor so that you can become an expert yourself!
Blitz Theoretical Vs Live Sports
As the name implies, theoretical betting is based on mathematics and statistics, and it is usually used in conjunction with computer software. You will most often find this type of betting applied to sports that happen every few days such as football, cricket, and tennis. However, there are also some daily fantasy sports that allow you to bet on the outcome of a game that you may have never heard of, such as the World Series of Poker (WSOP) and the NCAA March Madness Championship.
The advantage of theoretical betting is that since it is based on statistics, the house always wins in the long run, as long as you deposit and play with money you can afford to lose. For instance, if you deposit £100 and play with £10, you will almost certainly lose the £90 that you have remaining even though the odds favor you.
One disadvantage of this type of betting is that since it requires a lot of theory and practice to become proficient at, it can be very demanding mentally as well as physically. For this reason, many mental illness and physical disorders deter people from participating in this type of betting.
Live Sport Betting
Live sports betting is exactly what it sounds like: you get to watch the game and make your decision on whether to wager on the outcome or not. It is usually open to the general public and since anyone can enter the arena, the betting public is larger than in any other type of betting. This makes it more reliable and safer for bettors.
The advantage of this type of betting is that there is always someone watching the game and making decisions on your behalf, which cuts down on the amount of financial risk you run by keeping all the money you lose. For instance, if you are watching the game and BetsAware informs you that the sportsbook you are currently watching has a record of 30% winning bets, you may decide that it is a good idea to wager on the outcome of the game.
One disadvantage of live sports betting is that since there is always someone watching and making decisions on your behalf, it can sometimes be a little bit unpredictable. For instance, if you are placing bets on the outcome of a college basketball game and the referee calls a game-ending technical foul just as the ball is about to hit the net, your wager may be voided since you were not aware that this type of incident was going to occur. In this case, you could lose all your money even though you were right in your decision to wager!
Futures & Margins
Futures and margins are two more types of betting that can be quite complex. When you put a futures bet on, you are predicting the price movement of a certain commodity or financial index over a certain period of time. The first step is to establish the terms of the bet (e.g., whether or not to bet on a rising or falling price), and the second step is to place the bet. Once the bet is placed, the third step is to monitor the price movement of the chosen commodity or financial index over the designated period of time and make sure you stay in the winning camp or at least have your cash backing you up!
One advantage of futures and margins is that they can be relatively simple to understand and implement once you have them down. The disadvantage, however, is that they can be rather risky depending on the type of trade you make. For instance, if you are betting on the gold price to rise, you are essentially saying that you believe that the demand for physical gold is going to outstrip the supply in the near future. This type of bet can have major financial ramifications if you are wrong.
Over / Under 18
You must be at least 18 years old to place bets in most states in the United States, meaning that you cannot join the majority of American betting sites and businesses, including online sportsbooks, until you are at least 18. This is somewhat different from the rest of the world where it is legal to place bets from the age of 16. The main difference is that in America, the majority of the population is against child gambling, especially since it is often associated with addiction. For this reason, most states have established laws against underage gambling, with some states having strict policies in place even for people over the age of 18.
One advantage of over / under 18 betting is that since it is illegal for minors to place bets, most sportsbooks and websites will not offer this type of wagering, cutting down on the number of distractions young people may have access to while playing. Another advantage is that since it is usually illegal for minors to gamble, it often leads to more responsible behavior. For instance, younger people are less likely to spend money they do not have on frivolous things like videogames.
The disadvantage of this type of betting is that since it is against the law for minors to place bets, it tends to be more expensive than other types of betting. For instance, you cannot place a bet on the Super Bowl using your student ID.
Mobile betting is completely hands-free, wireless wagering that can be done on the go. This type of wagering is ideal for people who are constantly on the move since they can place bets on their smartphones and keep up with all the scores and happenings without needing access to a casino or betting site’s desktop version. The disadvantage of mobile betting is that since it is a relatively new concept, there are not many jurisdictions where this type of wagering is legal. However, since it is such a convenient and cost-effective way to wager, many sites and sportsbooks have started allowing users to place bets from their mobile phones, reducing the need to login to a desktop version to do so.
Dollar / Euro
Dollar / Euro betting is the combination of the U.S. dollar and the Euro. It is essentially a cross between futures and over / under 18 betting since you are getting the interest rate behavior of one currency in terms of the other. This can be a useful tool for people who need to speculate on the direction of a currency pair and don’t want to confine themselves to one type of bet. Dollar / Euro betting is also popular among people who need to keep a close eye on the price of gold and other commodities which are typically most affected by the exchange rate between the dollar and the Euro.
The disadvantage of dollar / Euro betting is that since it combines the volatility of the dollar and the security of the Euro, it is overall a more risky bet than either of its constituents. For instance, if you are betting on a gold price rise, but the dollar drops in value against the Euro, your bet may turn out to be a losing one even though you were correct in your prediction!
Red / Black
Red / Black betting combines the security of a sportsbook’s closing hand with the excitement of a casino’s blackjack table. As the name implies, you get to use your intuition about whether or not to fold when you are holding a red or black card in blackjack, as well as whether or not to bet on the next hand. Since it is all about probability and statistics, this type of betting can be very analytical and it makes it easier to monitor your progress on a day-to-day basis. Some people prefer this type of betting since it allows them to combine their analytical thinking with their love for poker, giving them a chance to win money while also having fun with a group of friends. It is, however, one of the most demanding types of betting since it requires a lot of practice to become proficient at determining one’s limits and objectives for each hand.