The history of sport betting is as old as the history of gambling. Literature from days gone by state that in the earliest days, folks used to partake in horse racing betting and combat sports betting. With time, more and more sports started to embrace betting henceforth, it became possible for punters to place bets on different sports. However, at first, punters could only place bets if they visited the arena where the sports event was taking place. With time, it became possible for punters to place bets away from the venue as they could visit betting halls. Thanks to the advent of online pool gambling, however, its now possible for players to bet on their favorite sports in the comfort of their own homes. This is thanks to the emergence of online sports betting at the online casino Singpaore.
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What is Online Sports Betting
Simply put, online sports betting refers to betting on one’s favorite sport/sporting personalities via the internet. When one places a bet on a team or player who engages in an activity that’s classified as a sport, then that person will have placed a sports bet. Its important however to note that online sports betting is only permissible for professional sports. This, therefore, means that sports bets are only accepted for sports that are considered professional that is, sports that are legally administered by the board, organization, entity etc.
Types of Online Sports Betting
When we talk about sports betting, most people quickly think about betting on sports such as football, cricket, rugby, ice hockey, tennis and baseball among others. Well, betting on such sports indeed constitutes sports betting. However, there is more to sports betting than just betting on football, cricket etc. Below, we expose and explore all the various types of online sports betting.
Traditional Sports Betting
Fantasy Sports Betting
How to Place Online Sports Bets
When looking to engage in online sports betting at online casino gambling Singapore, the first thing that players need to do is to search for the right and genuine online betting sites to settle at. When looking for a genuine betting site to settle at, players must check if the site satisfies certain criteria such as the employed safety and security protocols, licensing info, number of sports offered, variety of betting markets offered as well as the competitive nature of the pool game odds among others.
Once punters find the perfect betting site, they must search for the sport they want to bet on. Afterwards, they must search for the particular event they want to bet on. Once done, punters must check the offered bet markets for that event. From the offered bet market, they must choose the one (or several if need be) they want and proceed to place their wager and generate their ticket. In recent times, online betting sites now offer parlays. Parlays allow punters to bet on more than one event at once.
Once players have placed their bets, the only thing left is to wait for the event to commence so they can know if their bets have won or not.
Sports Betting Odds
When looking to place sports bets, punters at all times are guided by bet odds. Odds determine the amount that punters stand to win when their bets win. This, therefore, makes the ability to read and understand odds a crucial step in becoming a successful punter. Odds generally come in three main types which are as follows:
- American odds come with ‘+’ or ‘- ‘prefixes e.g. +150. These prefixes determine two things. First, they determine if you are wagering for the underdog or the favourite. Secondly, they determine the amount of money you stand to win when you place the bet. Odds coming with the ‘- ‘prefix signify the favourite. The number attached to them indicates how much punters must bet with to win $100. Odds coming with the ‘+’ prefix signify the underdog. The number attached to them indicates the amount you win if you bet with $100.
- Decimal odds come in the following format ‘Manchester United 2.40 – Arsenal 1.61’. to determine one’s payout with the decimal odds, punters must multiply their wager by the odds associated with the team one is betting on. For instance, if one wants to bet on Manchester United with the odds displayed above using a $75 wager, then the punter must multiply $75 x 2.40 to get a $105 winnings. Likewise, betting on Arsenal with 1.61 odds with a $75 wager sees players scoop $45.75 winnings.
- Fractional odds come in the following format 9/5 or 11/2. When reading out aloud the odds, punters say ‘nine to five’ or ‘eleven to two’. To get the probability of winning, punters must take the first number and divide it by the total number of trials (both numbers).
Online sports betting in recent times has been on an upward trend in online casino Singapore and other countries. Traditional sports betting is the most popular form of sports betting but there are many other punters who are finding the more modern forms of sports betting to also be great propositions.