Arbing is the art or act of putting on a bet. Usually this means wagering money – sometimes a lot of money – on the outcome of a sporting activity, such as a horse race or a game of football. It is also common for arbing to occur as part of a larger wager; for example, a bookmaker may offer odds on a sporting event like a horse race, and in addition to the sport itself, the bookmaker may offer odds on the weather, which might play a role in the outcome of the race. The term “arranging a bet” can be used when referring to this type of situation.
The Various Forms of Arbing
There are several different ways to put on a bet, and while some are more common than others, they all essentially involve the same concept: wagering money on the outcome of a sporting event or competition. The most common forms of betting in horseracing are;
· Sportsbook or Bookmaker – Depending on where you place your bet, you will have to decide whether to bet on the sportsbook or the bookmaker, as there is frequently a difference in opinion on which website is the best for bettors looking to place winning bets. Sportsbooks are the teams that the sports leagues partner with to provide betting services to their fans, as they have specific legal requirements that must be followed before they will take your wager. Bookmakers, on the other hand, are independent contractors who are simply providing a service to people who want to bet on sports.
· Over/Under – Different bookmakers and sportsbooks will have different terms for the side of the race that you want to bet on, so make sure to find out what they mean before placing your bet. An “over” bet means that you are placing your bet based on the outcome of the race going “over” the number that you are wagering on. For example, if you wager $100 that the horse racing event will end in a result of “over” 7.0, you are agreeing to pay $100 if the actual result is anywhere near to or exceeds 7.0. An “under” bet means that you are placing your bet based on the outcome of the race going “under” the number that you are wagering on. For example, if you wager $100 that the horse racing event will end in a result of “under” 7.0, you are agreeing to pay $100 if the actual result is anywhere near to or less than 7.0.
· Straight – Similar to an “over” bet, a straight bet means that you are placing your bet based on the outcome of the race going “straight” – or exactly as you are wagering on. For example, if you wager $100 that the horse racing event will end in a result of “straight” 7.0, you are agreeing to pay $100 if the actual result is anywhere near to or greater than 7.0. A less commonly used form of betting is a “doctored” bet, which means that you are placing your bet based on whether or not there has been foul play, which might affect the outcome of the race. This is most often used in conjunction with “over” and “under” bets, as it is usually agreed that if foul play is involved, the race outcome cannot be determined and should be settled in court (or, in some cases, by a neutral party).
These different forms of arbing give you an idea of how sportsbooks and bookmakers approach wagering: they want to make sure that they offer an array of betting options to their customers, as different people might want to bet on different outcomes. For example, if you are a fan of Formula One racing, you might want to bet on who will win the race, but if you are a fan of the New York Yankees, you might want to bet on them to lose so that your team can win the World Series. The variety is what makes sports so interesting – if you are someone who likes mixing up their bets, you will love sports because there is so much to bet on!
What is the Appeal of Arbing?
Sports is a form of entertainment, and as a pastime, it has been around for centuries and can be found in many different forms, such as;
· Horse racing – The most popular form of arbing around the world. If someone were to win the annual World Series of Poker, it would be considered a triumph of sport, as it is a competition where the stakes are usually very high (just this year, the WSOP will be holding its main event in London, welcoming thousands of fans).
· American football – Some states, such as Nevada, have legalized sports betting, and as it becomes more widely accepted, it is expected that the appeal of betting on sports will increase. Since the 2014 World Cup, football has seen a surge of interest in betting shops, with many people putting down large sums of money on the games they love to watch.
· Baseball – Baseball is one of the most popular sports in the U.S., and as more people become interested in betting, it is expected that this sport will see an increase in popularity, especially among younger generations.
· Golf – Similar to baseball, golf is another sport that has seen an increase in interest since the 2014 World Cup, with many golfers expressing their love for the sport by placing golf bets.
· Tennis – In 2011, France passed a law that allowed for the legalization of sports betting, and since then, interest in tennis as a sport for betting has increased in the country. It is often regarded as the “sport of the season”, attracting large crowds and high stakes betting, particularly at the Grand Prix and French Open tournaments, where the prize pools are often in the tens of millions of dollars.
The Evolution of Bettors
While the modern conception of a “bettor” might be someone who enjoys placing winning bets on horseracing and other sports, the origins of wagering actually lie in the 17th century among the upper classes in Europe. Back then, people who could afford to indulge in such luxuries as gambling were considered “high rollers” and regularly attended games, such as horse racing and other forms of sporting events, as a leisure activity. These days, horse racing is still considered the “classic” sport for anyone interested in arbing, but due to the advent of other sports, such as golf and American football, other forms of wagering have risen in popularity, as well. For example, bookmakers now offer bets on the World Cup, the Tour de France, and the Kentucky Derby – three events which would have been considered “high rollers’ sports back in the day.