Sports Betting Basics

SO, WHAT IS SPORTS BETTING?

Very simple! A Bettor (a person placing a bet) tries to beat the person compiling the odds (Sportsbook or Bookmaker) in order to win money.  It’s up to the bettor to assess whether the odds being offered by the sportsbook are worth the risk of putting money on the bet. An example…

A sportsbook would have offered odds of 20 to 1 on the Giants winning the 2012 Superbowl if you had placed a wager on them in the preseason. A $10 wager would have returned $210. Worth a bet!

Sports betting is all about finding “value”. By value, we mean finding a bet worth the risk attached to it. 3 successful bets out of 10 with decent odds will probably mean a healthy profit. 4 successful “safe” bets out of 5 with very short odds could mean you only break even or even lose money. So the goal is to use your own knowledge of sports to make informed decisions. Make bets that your instincts tell you have a good chance of coming through.

HISTORY OF SPORTS BETTING

Sports betting has become incredibly popular in recent years. The growth of the internet has spurred on the boom in sports betting as millions of people now have access to reputable and safe areas to engage their passion. But sports betting is by no means a new phenomenon. 2,500 years ago wagers were being placed on chariot races and wrestling in the Ancient Olympics.  Betting was considered an important cultural element of the proceedings, read football betting tips today. Olympic champions of the type received only a Laurel wreath as a prize. Many spectators ended up with far bigger rewards for their well-placed wagers!

In the UK, Bookmakers have existed since the days of the Revolutionary Wars. A businessman named Harry Ogden is considered by many as the father of modern sports betting, although similar businesses have existed for many centuries. Race track betting became extremely popular at this time due in no small part to the railroads that had sprung up all over Britain. Race tracks became an important social and cultural recreation point for people across all classes and backgrounds. At the same time, the development of new sports such as rugby, cricket and football meant that sports betting wasn’t confined to the Race Track for too long.

SPORTS BETTING TODAY

As sports betting has become big business, so too the entire range of markets has grown. Decades ago, the vast majority of sports wagers would have been on which team would win or by how much. But today, more and more people are placing their money on the outcome of events WITHIN the game. Will the first score be a TD for the Patriots? Will there be more than 3 runs in the second Inning of the Cubs game? Who will take the most offensive rebounds for the Clippers? Just about any area of a sports game can be opened up to the public to bet upon it. Some sportsbooks will even allow bettors to nominate markets that the sportsbook hasn’t published odds for! Want to wager on which MLB coach will be first to be fired this season? Fancy a flutter on which hockey player will be have the most disciplinary problems? These markets may not be listed on sportsbooks websites, but many sportsbooks will quote you a price if you ask them.

THE RISKS

Sports Betting is fun and it should stay fun. Knowledge, a little research and above all, DISCIPLINE are the key ingredients in your recipe to have fun and perhaps make a little money. Be knowledgeable of what sportsbook is offering the best odds and the best bonuses. Keep your wagers to what you can afford and look for value in your bets.