In the 21st century, betting on sports has been revolutionised by technology. Online systems have been developed to enable enthusiasts to stake their claim on the outcome of upcoming matches. Gamers can put their knowledge and skills to the test to predict the results of sports matches.
In football for example, betting companies have considerably gained traction and as a result set up comprehensive online platforms. This has made it possible for players to have more options at their disposal when betting. For instance, some additional options available to make a prediction include who will score first in a match or the total number of goals to be scored.
Hundreds of millions of people bet on sports each year so it begs the question, what really does betting entail?
Online sports betting
The internet has enhanced the gaming experience for players to indulge in football betting at a more advanced level as compared to the use of subscriptions drawn from short messaging services. Playing online is convenient to gamers as they are able to get access to many features such as real time predictions. This applies to some betting sites where users are given for instance up to half time of the match to correctly make their prediction.
Additionally, betting online gives the gamer an advantage in that they have access to further information on teams which ideally aids in placing a calculated bet. This information is drawn from the two teams’ form in their recent matches and what various bookmarkers think of the teams heading into the tie in terms of odds.
On top of other relevant sports betting tips found online, protection mechanisms have been placed on most betting sites regarding pay-outs and security on a user’s personal information. Pay-outs are made soon after the match/matches are finished of course depending on the size of the winnings.
How betting odds works
It is important to understand how odds work before getting started. To unravel this, one must first understand that betting odds use probability to determine the likelihood of an event to happen. Let us take a case of a coin. Since a coin has two sides only, if flipped, the likelihood of getting the head’s side is 50% as is the tail.
There is comparative fraction to decimal odds system used in betting. Fraction based odds for instance 5/1 mean that for every $1 placed one has the chance to win $5. Similarly, other sites prefer using a decimal based odds system. The general odds converter to money formula is as follows: (odds*stake) – stake.
The above formula will enable you to work out bet winnings. For example, if odds are placed at 4.0 and you have a $20 stake, then it will be calculated as (4.0*$20) – $20 to get $60 as your winnings. These odds are placed on various parameters to help gamers take a chance on various fronts of a match.
Knowing the odds will assist you in determining how much money to wager. Ideally, one can also bet on multiple football matches which will enable them to win more money should they correctly predict the outcomes within a certain stipulated threshold.
Sports betting strategy
Now that you have the general know how of the operations involved in betting, the next crucial step is formulating good betting strategies. One can place a bet on individual matches, a string of football matches and even look out for championship betting odds which are predominantly assessed at the end of the season.
For example, in 2015 Leicester City had bookmarkers place a 5000/1 chance of winning the Premier League. So using the concept earlier, if one only had a wager of $10 for Leicester to win it then their return on winnings was massive.
A good strategy to get one started would be to bet based on a single match that has a lot of stakes using a handicap system. The first thing is to be well versed about that particular match and place a single bet on it. It is easier to place $10 that could result in $40-$50 winnings as compared to going for a multi bet by placing $100 on a series of matches.
In conclusion, before placing your bet, a good strategy would be first to pick out game(s) with good analysis available. Then look at the current form of the teams, players and even history to make proper judgement. Betting on a ‘smaller’ team could give you significantly better returns as compared to a ‘bigger’ team depending on the result and the money you put into it.