Sports betting is when a player tries to predict the outcome of a sports event and places a bet in the hopes that their prediction is correct. There are quite a few sporting events on which players can place bets, such as basketball, football, horse racing, rugby and golf. Sports bets are made against firm odds, most often favouring the team most likely to lose.
Online sports bets made it easy for players to win large sums of money from the comfort of their homes. Australian gamblers should be cautious when placing bets online. Players must ensure that they are playing at a reputable, regulated, trustworthy bookmaking site.
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Sports Betting History
There is no particular time in history that can pin point the start of sports betting. People have spent thousands of years betting on sporting events. Horse racing has become one of the most popular forms of sports wagering over the years. There are sports betting centres all across the world, which allows players to make bets at a physical location. Although, most players prefer to place their bets online, as it is growing in popularity.
Types of Sports Betting
Sports bets can be placed on a number of sporting events. Players can bet on almost every conceivable kind of sport. Online gambling sites offer sport betting on most of the sports. Casino players can place bets on the following sports:
Football, also known as soccer, is huge in Australia and players can bet on any of the leagues.
Another popular sports event that players wager on is basketball. Basketball offers gamblers many options regarding basketball matches. The options include:
Baseball contains a minor and a major league. Majority of bets are placed on the major league. There is a vast selection of baseball games in which players can wager. Including:
- The ABL (Australia Baseball League).
- Major League Baseball
You can also bet throughout a season, as the season is broken down into structures. The season structures that you can wager on is as follows.
- Regular season
- All-star games
- Post season
- Asia series
Golf betting also has a number of betting options that players can choose. These bets include:
- Specific player bets: this is a wager made on a specific player’s performance in a tournament or a season.
- Tournaments: this is a bet on who will win a tournament, and how many shots the player will be ahead of the closest rival. The most popular golfing tournaments to bet on are the PGA Open, the PGA, the Ryder Cup and the LPGA Championships.
- Hole-in-ones: this is one of golf’s most coveted undertakings. The player bets that the golfer will hit a hole-in-one during a certain tournament.
Tennis bets can be made on both men and women’s tennis tournaments at the big championships. The biggest tennis tournaments include Wimbledon, the French Open and the Australian Open.
Horse Racing Wagering
Horse racing has been a part of life since ancient times, from chariot racing in Rome. However, horse racing wagers can be tricky to comprehend. Horse racing has a number of bets players can wager, but you need to understand the odds, which are stacked against you. The most common horse racing bets include:
- Win: this is bet placed on the horse players think will win.
- Place: this is bet that is won when a gamblers horse is first or second.
- Show: this is when your selected horse will be in first second or third place.
- Exacta: this is a wager that players can place on two horses for first and second place. However, to win the horses must be in the places that you predicted.
- Exacta box: this is another bet placed on two horses for first and second place but the horses can place in any order.
Set-Up a Sports Betting Account
There are a lot of betting websites on the internet. Therefore, there is a number of factors that players need to consider before choosing one, these include perks, longevity, overnight odds, financial stability, high limits and fast pay-outs.
How to Get the Best Winning Odds
There are two different ways to get the best odds when it comes to sports betting, these are known as Decimal and Fraction odds.
Fractions are written in a way that will show the profit a player will make. For example, AU$2 profit for every AU$7 they stake, or AU$1 profit for every AU$3.50 they stake.
Decimals simplify how much profit a layman gambler will make on each wager. For example, if a player makes a bet of AU$20, and the odds are in decimals as 1.29, the possible pay-out outcome will be AU$25.8. decimals are written in a way to show a player what they will receive for what they stake. So, 29c for every AU$ they stake. Therefore, it is written as 1.29.
Sports Betting Glossary
- Juice: This is the profit that the bookkeeper will make through the percentage he deducts from the bet.
- The spread: This gives a team an advantage of a few points and is specifically aimed at football and basketball.
- Handle: This is the total amount that a player placed on a bet.
- Handicap: This is giving a team an extra point to even things out.
- Action: The action is the betting that takes place.