Sports betting is an activity that, similarly to what has been happening with online gambling, has seen its popularity increase a lot in past years. There are quite a few similarities between online gambling and sports betting, and the main ones are that we do both online, at the convenience of our laptop or smartphone, to have fun, and with a good chance of making some money while doing it.
Sports betting is nothing more than trying to predict the result of a sports event, and if we get that prediction right we win an amount that is calculated based on an odd. The attraction by this format of betting is so much that it has surpassed its original purpose, meaning, people don’t bet only on football, boxing, American football, basketball and so on, but also in events of other nature like political elections, TV shows or other random events.
How legal is it?
Apart from the sporting events including people, sports betting also features greyhound racing, horse racing, and other events with animals, which many times are not legal, like dogfighting.
Funny enough, most legal sports betting is made online, regulated from several jurisdictions, and in gambling cruises, so it’s the clean side of gambling so-to-speak. On the other side, we have illegal bookies and also sports scandals that affect the integrity of the game, that leads to transversal corruption of several people related to the sports world.
How do we bet?
Usually, bets are made by simply picking a winning side, and to do this we need to consider the indicated odds. Meaning, the stronger side will pay lower odds than the theoretically weaker opponent. At the same time, betting on the favorite gives us a bigger margin of success. This is the simplest way of betting, but long duration bets with incredible odds do exist, and those can give huge payouts, considering we are willing to make the investment.
Diversity in betting is something abundant when we talk about sports betting. Mentioning just a few examples, we can refer to future wagers, that determine which team or player will win a season competition (remember the bet is made at the beginning of the season).
We also have proposition bets that are made on a very specific part of the game (for example, if a particular player scores more than 2 goals in a given match), and parlays that involve multiple betting, but the person making the bets only gets paid if he gets all of those bets right, let’s say, 10 match results correct. In the particular case of the parlays, it’s obviously important to pick the stronger odds side, even if the payout would be smaller when comparing to a riskier bet on underdogs.
One of the fascinating sports betting features is the in-play betting, that allows us to place bets with the event happening live. According to the type of event (let’s say a tennis match) and the result of that moment, the odds are literally changing by the minute, so we do get glued to the screen and try to make the best decision live.
All of this is what makes sports betting a highly entertaining activity with a big worldwide growth. The existing diversity of ways we can bet, the never-ending events covered, make it an attraction hard to refuse.