What is Online Sports Betting? How to Win?

SPORTS BETTING Updated on: 1 September 2018

Betting on sports is as old as they are. Part of the thrill that comes with watching sports derives from the fact that people are curious to see what the final result of the event will be. And in events where the outcome is uncertain, strong opposing sides are likely to form, with many people wishing to stake money on their predictions. This way of thinking is responsible, and practically the prime concept, behind modern day sports betting.

The Greek and the Romans started the practice centuries ago. At first, sports betting was confined to harness racing. People still bet on the ponies, but sports betting has grown in ways that few people would have imagined possible. Even sports less than a hundred years old are now popular targets for sports bettors. The industry is now worth billions of dollars, and it has exploited the benefits of online betting to the fullest, as we will discover below.

1. Online Sports Betting

Traditional land-based bookies still have a place in the world, but internet-based betting is certainly gathering momentum. In the last few years, this industry has grown astronomically as increasingly large numbers of people choose to place their sports bets through the internet. Not that anything less than this could be expected, considering how popular sports betting is.

Thanks to cyber based sports betting, you no longer have to deal with thronging crowds of noisy punters trying to place their bets in physical betting shops, especially during popular sports events. You could just sit on your couch, kick back, and use your laptop or phone to place your bets and then settle down to enjoy the event live on your television.

Online sports betting also offers a broader range of markets. Technological advancements have eliminated the technical limits traditional betting shops have to deal with, which means you can bet on literally every listed event on the planet using your local online betting company. You never had this option when using a traditional bookie.

With some online sports betting companies, you can even bet on ongoing matches, which means your years of watching certain games and seeing how certain possibilities change throughout the match could finally be exploited for some quick and consistent cash rewards.

Live Sports Betting

As I have just mentioned, you can also bet on live sports events, a privilege you cannot enjoy with traditional betting. So, even if you missed the opportunity to place your bets before the kickoff, you can still use your knowledge of the event to make some money.

For instance, if you were certain that a team was going to clobber its opponent, and you have still not placed your bet several minutes after the game has began, you can still bet on the final score or any other outcome. In fact, depending on the circumstances, you could even get in at a better price than those who made pre-match bets.

As a matter of facts, if current betting statistics are anything to go by, live sports betting is where it’s at. Live bettors enjoy better win rates than regular bettors. Apparently, seeing the game as it is being played goes a long way in helping you make better betting decisions. And as you can imagine, these bettors get more excitement from their betting activities since they are betting on events that are unfolding before their eyes.

Another benefit of this form of betting is that the bets tend to payout at a much faster pace than is typically the case. With traditional betting, you might have to wait for days before you know if your bet has won or not. But with live betting, the maximum you have to wait for the bet to mature is the duration of the event in question. At other times, you could get paid in just a few minutes.

How Do You Bet On Sports?

At its most basic, a sports bet consists of three options: the first team wins, the event ends in a draw, or the second team wins. Still, this is awfully specific to some sports. In some cases, there may just be two options. In any case, each of these possibilities will be allocated certain odds, or quotas if you like. When you choose a particular option, your stake will be multiplied by odds allocated to that possibility. If you lose, your bet will be lost.

How Are Betting Lines Established?

Surely, how does a bookmaker decide what odds to award a certain outcome? It can’t possibly be an exact science, considering how often the sport event results upset common expectations. The thing is, while the bookmakers will still consider things like the strength of the team in question, they will also try to set the odds in a way that ensures that whatever the outcome of the game, they will still make a return.

So, in the case of an event with three possible bets: a win, a draw, or a loss to the opposing team, the bookmaker will try to ensure that the money coming in is the same for the three possibilities. That way, whatever the outcome of the match will be, the bookmaker will still make money because within the odds is an inherent house edge that ensures that the house gets to keep some of the money that comes in as the bets are made.

This is why you will often see the odds changing constantly; because the bookmakers are trying to move the “line” in order to keep their books balanced.

What’s More Important In Sports Betting – Luck or Strategy?

It depends on who you ask. Novices without any tangible knowledge of the industry will swear that sports betting is a game of luck. But experienced bettors will insist that strategy is what sports betting is all about. To be honest, sports betting takes a bit of luck, but strategy plays a more significant role.

Those who believe that sports betting is completely about luck often lose their money to bookmakers. And since most people fall under this category, betting companies are able to rake in lots of money. But those who strongly believe that luck plays a very small role in sports betting often end up having consistent wins from their betting. The few bets that don’t go their way are simply not big enough to ruin their abilities to make money off this market.

Mobile Sports Betting

Unlike most casino games, sports betting is a more time-conscious activity. For this reason, mobile sports betting is very popular around the world. People want to place bets in time because they have certain convictions about that particular sports event; and once it’s gone, it’s gone for good.

Furthermore, with a mobile phone, you can even bet on an event as you watch it live at the stadium. In fact, research indicates that mobile betting has surpassed both PC-based online betting as well as traditional betting.

If you still have questions about sports betting, I suggest you read through other guides on this site covering the subject. You will learn of places where you can enjoy high quality sports betting, where to get the best promotions and bonuses, and some simple and effective sports betting strategies.