How Does Sports Betting Work?

Since it was legalised in the United States in 2018, sports betting has become one of the fastest-growing markets. Yet many beginners and even some professionals have trouble understanding the technicalities. 


What is it about?

As the name suggests, sports betting is the practice of placing money on a potential sports outcome. This occurs between two parties where one provides the odds and accepts wagers and the other party is willing to pay for that outcome. 

Sports betting operators are also known as sportsbooks or bookmakers. They charge a commission for carrying out the bettings. 


Various types of bets 

In today’s competitive market, you should know about all your available options. Knowing the different kinds of bets can help you make your best pick and turn small bets into big profits. 


Moneyline 

These are straight bets. That is, one places their bet on a team to win the game. 


Point Spread 

Great teams are the ones that cover the spread. This spread is the amount that is added to the final result to bring about an outcome. 


Futures 

These are placed quite early in the competition. You can get a viable list from the sportsbook and place your bet.


Totals 

In Totals, you bet on scores. You bet on whether the score will be below or above a predetermined number. 


Parlays 

In this, you bet on multiple matches. In Parlays, the risk is greater but so is the reward.


Props

This is an exotic bet where one can put a conditional bet defined by the operator. 



Live sports betting 

The in-play or live betting market is growing tremendously. Here, you place a bet while the game is live and in real-time. This is just another way of socializing with your sports buddies. 

This type of betting requires concentration and smart judgments to predict the outcomes. One has to place a bet on the spot and hence, they need to make quick decisions. 

People also do this via sports books which is a bit trickier. But there are operators out there who can assist you. We recommend you pick from multiple sports books at a time.

Leave a comment

Please note, comments must be approved before they are published