What Are The Basics of Sports Bettings?
If you are new to the concept of sports betting, this blog will steer you in the right direction. Don’t let all the unfamiliar jargon and talk of things like odds, bookies and teasers overwhelm you. It is not nearly as complex it may first appear to the novice bettor.
Different sports have different betting systems. The most popular sports on which to wager a bet are football, baseball, hockey, snooker, basketball, horse racing, tennis, cricket and rugby. To place a bet all you have to do is go to a sportsbook (US), bookmaker (UK) or simply a ‘book’. This is an establishment that takes the bets and the individual who takes the bets is a ‘bookie’. The oddsmaker is the person who sets the betting odds. And the object of sport betting is simply to beat the oddsmaker to win some money.
Here’s a short explanation of a few of the different types of bets you can make.
The simplest and most common bet is a straight bet where you bet on a winner at the given odds.
With an over/under bet you wager the combined number of points scored in a match by both teams will be over or under the total set by the oddsmaker.
A parlay is a combination bet, so instead of making five separate bets on five different games, you place a single parlay bet in the hope that you can predict the outcome of all five games. If you are wrong about any one of the outcomes of the games, the entire parlay is a loser. The payout for parlays is much higher because the odds of successfully picking multiple winners are obviously much harder. If a game is a tie, postponed or cancelled, your parlay is automatically reduced by one selection.
A teaser bet is like a parlay but with the option of adding or subtracting points from one or more of the bets. Like with a parlay, all selections must win in order for the teaser to win. Teasers odds are usually worse than the parlays.
A future bet is a bet on a future event. At the start of each season, the sportsbooks give out odds for teams to win a particular championship. The odds change and usually get shorter as the season progresses and the final game approaches. But if you bet on the winning team, you get paid at the original odds when you placed the bet.
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nice intro to sports, had no idea…
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