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Gambling on sports is any wager on a sport event. The odds are offered by a bookmaker that pays out any potential winnings. Today online sport wagering is one of the most popular gambling types. The offer made by online bookmakers varies from polo to soccer. Most popular bets in Europe are connected with soccer while in the US players like to place bets on American sport leagues (NBA, NFL, NHL and MLB). Horse and hound races are also popular worldwide.
Today the online betting has developed so much that you can find over 100 markets for only one event. For example, you can bet which team will have the first throw in when soccer is played or even name the manner of how the first goal will be scored.
There are three types of odds in sports gambling: European format that uses decimal numbers, UK format uses fractions and American format also referred as money line odds. The even bet is a term that means that you will double your money on a bet; with European odds it is presented as 2.00, with the UK format it is presented as 1/1 and with the US format it is a 100 or .100.
Types of Bets
There is a big number of bets available, especially at online bookmakers, but most common are:
- Straight Bets – All bets made against the spread. This means that you are betting on a team to win the game with a certain predetermined difference. For example, if the bet is -3.5 points -Name of Team- this means that the team that you have wagered on needs to cover a spread of 3.5 points. Your bet is a winner if the team wins with more than 3 points because there are no half points in sports.
- Proposition bets – Betting on a correct outcome of a sports event. For example, guessing the correct score in soccer match. This is a very popular type of bet in UK gambling circles.
- Parlays – Tickets with multiple event bets. Usually the maximum number of events is 12. The odd of each event multiplies with each other. Professional gamblers don’t use this system that often because the chances of winning are slimmer.
- Progressive parlays – Increases the chances of winning but the odds are smaller. For example you put a 8 out of 12 parlay. This means that even if you miss 4 bets you will still make a winning. Sometimes players get even with these types of bets. Very popular among novice players in online gambling.
- If bets – Combination of two bets for the same event. For example a player to score a goal and his team to win.
- Run line, puck line or goal line bets – Number of points scored in a game also known as Over/Under bets in sports gambling.