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Saturday, February 26, 2011

The Basics of Betting on Sports

What Is Sports Betting

Sports betting combines 2 of our most favorite pastimes, sports and gambling, everyone has their own opinion about predicting the outcome of any sports event and betting allows them to put their money where their mouth is and bet on the outcome.  At the most basic it is 2 differing views on the result of a game and having a small wager to confirm your conviction that your point of view is correct, usually high profile games attract most sports betting whether its friends with a drink in front of the TV or professional gamblers, all of this combines to make the friendly fun we call sports betting

A Warning

Sports betting can be exciting and fun however it should be treated as purely entertainment.  I encourage people to gamble sensibly and say only gamble with money you can lose, It is entertainment, keep it that way.

Why Bet On Sports

Online sports betting makes the result of a game much more meaningful and is a way to have fun with friends

How To Bet On Sports

Simply put this is 2 friends arguing over a game and betting each other on the outcome.  Today it is often taken to mean organized betting pools with sports books running the betting,  true, it is still illegal in many places but the introduction of online betting provides a way for just about anyone in any part of the world to participate in this exciting pastime.  To place a bet you need to find a bookmaker this is just a place that accepts bets depending on your location this may not be possible for you, online sports gambling allow you to make bets if that's the case.  Please check your own locations laws about online gambling before starting, this article is not a statement of law nor is it intended to suggest online online sports gambling will be legal in your location.

What Sports Can You Bet On.

Any sport can be bet on, without gambling there would probably be less sport.  Think about it, sport really is gambling, essentially its one person saying to another I can get there faster than you, if you replace the 'I can' with 'I bet I can' you will get the picture so you can bet on all sports.

How It Works.

Sportsbooks work with statistics to decide what odds to set, basically the less likely the chance of a result the more you will win if it happens its like our 2 friends betting,  John says team A will win, Dave says team B will win and the bet $5 each, John is so convinced that Team A will win he offers Dave $10 if team B wins - that is what bookmakers do in a more sophisticated way  Sportsbooks facilitate strangers betting against each other by using all the money bet on an event to pay out those that win.

Types of Sports Betting Bets

Each sport can attract different types of bets, you can bet on who scores first,  on the final result or numerous other choices. The main bets are Straight Bets, Parlays, Place Bets and Over/Under.
Straight bets: Straight forward bet on who will win an event
Parlay: Bets that combine the results of multiple events
Place Bets: Selecting the position of competitors in an event
Over/Under: Predicting the combined number of points in an event (over 100 points scored or under 25)

Summary

Sports betting is a challenging and enjoyable way to r

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