Sports betting is an exciting and rapidly-growing industry that has become increasingly popular over the years. It refers to the act of placing wagers on various sports events, including football, basketball, tennis, and horse racing, among others. This form of gambling is legal in many countries worldwide, including the United Kingdom, Australia, and Canada, among others.
This comprehensive guide will take you through everything you need to know about sports betting, including its history, types of bets, strategies, and tips.
History of Sports Betting:
Sports betting has been around for centuries, with the first recorded bet dating back to the ancient Olympics in Greece. Back then, bettors would place wagers on various events, including running, wrestling, and boxing, among others.
In the 19th century, sports betting became more widespread in the United States, where it was legalized in some states. However, it was not until the 20th century that sports betting gained popularity worldwide, particularly with the advent of the internet, which made it easier for people to place bets from the comfort of their homes.
Types of Bets:
There are various types of bets in sports betting, including:
This is the simplest type of bet, where you wager on which team or player will win the match. In this case, the odds are presented in a negative or positive number, indicating the favorite or underdog, respectively.
For instance, if the odds for a football match between Manchester United and Liverpool are -150 for Manchester United and +200 for Liverpool, it means that Manchester United is the favorite, and you would have to bet $150 to win $100. On the other hand, if you bet $100 on Liverpool and they win, you would win $200.
Point Spread Bet:
This type of bet is commonly used in football and basketball, where a point spread is set by the bookmaker to level the playing field between the favorite and underdog teams. The bettor then wagers on whether the favorite team will win by more than the point spread or whether the underdog team will lose by less than the point spread.
For instance, if the point spread for a football match between Manchester United and Liverpool is -2.5 for Manchester United, it means that Manchester United is expected to win by at least three points. If you bet on Manchester United to cover the spread and they win by three or more points, you win the bet. On the other hand, if you bet on Liverpool to cover the spread and they lose by less than three points, you win the bet.
This type of bet is also known as the total bet, where the bettor wagers on whether the total score of a match will be over or under a specific number set by the bookmaker.
For instance, if the total for a basketball match between the Los Angeles Lakers and the Boston Celtics is set at 220.5, you can bet on whether the total score will be over or under that number. If the total score is 221 or more, you win the over bet, while if it is 220 or less, you win the under bet.
This type of bet involves wagering on the outcome of a sports event that will take place in the future, such as the winner of the Super Bowl or the NBA Finals.
For instance, you can bet on which team will win the Super Bowl before the start of the NFL season. If your team wins the Super Bowl, you win the bet.
Sports Betting Strategies:
To increase your chances of winning at sports betting, it is essential to develop a sound strategy. Here are some strategies to consider: