A Quick Guide to Betting Basics |
Posted: April 17, 2018 |
You are new to online gambling. You are interested and do not want to kick off with something complicated. Sportsbook are often considered one of the easiest forms of gambling, and this is the reason why they are so popular among newbie punters. When you are betting on sports, your goal should be to predict the outcome of a sports event and stake money. To help you out, here are some betting basics explained. Fixed odds betting It is a traditional form of betting where punters predict that is going to happen in a sporting event and place a wager on a selection. The term ‘fixed odd’ is used as odds are agreed when the wager is placed. If a wager wins, payout depends on agreed odds. Parties to the wager A sports wager always involves two parties. Each one takes opposing view to another. For example, two parties may be friends taking part in college football betting and wagering in a college tournament. One of them thinks that a particular team is going to beat another while the other friends will think contrary to this. When betting with a bookmaker, parties will be bettors. Selection of wager Selection in a bet refers to what the bettor is betting on. A selection doesn’t necessarily mean a team or individual or game. Different types of wagers can be placed on sports events which you will come to know gradually. Stake Stake simply refers to the amount of money risked on a wager. This amount is paid to the bookmaker when a wager is placed. The bookmaker keeps the stakes from losing bettors and returns them to winning wagers. Most bookmakers require bettors to stake a certain minimum amount which is known as minimum stake. It is usually kept very low, like $1. Many bookmakers also limit the maximum amount a bettor can stake. Odds Bookmakers offer odds for all selections available in a bet. Odd decides how much a bookmaker must pay to the punters to their stake if a selection is correct. It is closely related to chances of online being correct in a selection. If chances are low, the odds are high. If chances of a selection to be correct are likely high, the odds are usually low. Odds can be expressed in three kinds of formats – money line, fractional, decimal. We hope that an introduction to these basic terms will help you understand the betting world in a better way.
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