Sports betting is an art to predict the outcome of a game or competition. It seems to be as simple as winning the bet by intuition; however, it is not always clear for everyone how the winning amounts and odds are spread. To make an efficient bet, one has to be aware of the current sports events and have good analyzing skills. The understanding of odds and chances is also necessary. The knowledge of basic math will be helpful there as well.
Types of bets
Different bookmakers offer various types of wagers. Here are the most common ones:
- Spread betting
- Fixed odds betting
- Live betting
- Pari-mutuel betting
Spread betting is not a simple win-or-lose wager. This type of bet depends on the accuracy of the prediction. In the recent the spread betting has become more popular in the UK than ever before, reaching almost one million of sports bet gamblers. This type of wager is applied not only to sports but also to financial betting, regulated by Financial Conduct Authority. In Spread betting, the bookmaker suggests the point to be spread for the result of a match. It works as follows: for example, the suggested point is 3. The gambler will wager on team A:
If the score is A-7, B-9, 7+3 = 10, which is more that B’s result. This means that the gambler wins.
If the score is A-7, B-15, the gambler loses, as B’s result exceeds the sum of A’s outcome and the spread (7+3 = 10)
Fixed-odds-betting is still favourite wager for many gamblers, in particular beginners. It has simple rules and is based on the simple win-lose prediction. Live betting may be an exciting process, as the odds change during the match or race, fitting to the current result. Pari-mutuel betting is similar to pull in the lottery: a group of gamblers unite and settle different wagers. After the win, the amounts will be distributed proportionally to the wagers and the winning gambler is paid from the common pull.
Sports and Events for betting
Sports betting in the UK has a long tradition and counts over 2 million customers as of today. The most popular sports for betting are football and horse racing. The nearest upcoming event on horse racing will take place this March in Cheltenham. Here you can find hot news about Cheltenham Festival 2017 and place your bets. Another traditional sport for betting is greyhound racing, which in mostly viewed as amateur occupation through the world. In UK however it has a long history and is officially included to the types of the gambling industry.