Sports Betting Guide - Everything You Need to Know

Sports betting entails predicting the outcomes of various sports events. Historians claim that betting started in ancient Rome thousands of years ago, when sports enthusiasts placed bets on chariot races. Sportsbooks such as Betway88 offer a wide range of betting options to gamblers. But, many beginners struggle to make a profit. Here is everything you need to know about sports betting.

Understand the Basics

Sports betting has basic rules. Just like other investments, it requires money. It is prudent to determine how much you will spend in bets to meet your basic needs. Also, stakes a fixed amount of money in your bets. Punters who place few bets in an accumulator have higher chances of winning compared to those who combine more than seven bets. Research about various players and teams before you place bets. Check their recent performance and current form to determine their winning probability.

Understand Odds

Bookmakers multiply your stake with the odds of a certain outcome to calculate winnings. Most gamblers who place Betway88 sports bets pick sports events with high odds to increase their profit margin. There are different odd formats including:

• Fractional odds: They are common in the UK. It is difficult to calculate possible winnings using fractional odds. Add the original stake to estimate your payout. Sportsbooks display the odds as a fraction. They show how much you will win from each staked unit.
  
  
• Decimal odds: The odds are popular in Australia, Canada, and Europe. They are easy to understand compared to moneyline and fractional odds. Betting firms display them as positive numbers in two decimal places.
  
  
• Moneyline odds: Most American bookies use moneyline odds to calculate possible winnings. They display them as negative or positive numbers.

Forms of Sports Betting

• Pari-Mutuel betting: Pari-mutuel or pool betting involves placing bets against other gamblers in a single sports event. The wagers are placed in a pool that is equally shared among winners. The bookie deducts a small amount from the pool. A private firm or a state organization runs the house in pari-mutuel betting.
  
  
• In-play betting: Also, known as live betting, in-play gambling started several years ago. It entails predicting the outcome of live sports events. Unlike other forms of sports betting, In-play betting odds change quickly. Betting firms settle most live bets before an event ends. Furthermore, you can play several bets on a single game.
  
  
• Sports spread betting: This type of betting is appropriate for experienced punters. It has potential for big profits and losses. Also, it is the most complicated type of sports betting.
  
  
• Esports betting: It is the newest form of sports gambling. Esports have rapidly gained popularity over the last few years. The global esports market is estimated to be worth $30 billion by December. Gamers compete in video game tournaments for prizes.