Did you know that sports betting began as an illegal activity back in the early 19th century? Well, most bookmakers got their head start in the 1920s but with many prohibitions. At the time, it was majorly practiced by immigrants to the US. On the other hand, online betting came much later, with the first site, Intertops, launching in 1996. Of course, this completely revolutionized the gambling scene worldwide, and the fruits are visible today.
Enough with the history. Essentially, sports betting refers to the act of predicting the results or outcome of a game. With the many different types of sports available today and the countless number of fans from every corner of the earth, it does not come as a surprise that betting and gambling, in general, is one of the most widely practiced activities. The restrictions are certainly still there. Each country has designed its set of rules to control the industry, while it is entirely illegal in other countries.
Why do people bet on sports?
The answer to this question is pretty straightforward – for entertainment value. Betting adds some elements of thrill and excitement to a game. Today the world appreciates professional gamblers; for instance, thousands of people flock to Casinos, including the wealthy and affluent, to enjoy exchanges on different games such as blackjack or live roulette. To be clear about it, the primary purpose of sports betting is to have fun or, rather, test your lucky star. That is also precisely why many people wagers place their money on sports as they want to be more engaged in the game they love so much.
Types of sports betting.
There are numerous types of betting and, consequently, more bets you can place on a game. Thanks to mobile betting, You can switch between applications, place different bets on different games, easily win or lose some and repeat – just like playing video games on your mobile phone. The following are some of the types of betting and bets at your disposal;
1. Fantasy sports
Otherwise known as rotisserie or roto, this is a type of sports betting that allows wagers to compete and earn money based on the performance of individual team members. Conventional fantasy sports betting entails building teams from a pool of professional players and participating in a contest that usually takes place for days or hours rather than an entire season. Today several online platforms allow punters to do the same. This type of betting is not the easiest and requires a lot of skill; hence some platforms are introducing more of a hierarchical-like competition, from beginners to veteran level.
2. Exchange betting
This type of sports betting presents competition among members. Usually, punters compete against the bookmaker, and more often than not, the bookmaker is usually ahead, making it difficult to win. Exchange betting is an online gambling feature that gives members the advantage of shopping around for extra value.
3. Spread betting
Spread betting has often been termed as the ‘tax-efficient’ way of betting on the price movement of a security. This betting technique is valuable to even out odds between two unevenly matched teams. Pay-off considerably depends on the wager’s accuracy instead of the primary “win or lose” rule in money-line betting.
4. Pari-mutuel betting
Pari-mutuel betting is perhaps the most widely accepted form of betting, given that it is legal in almost every part of the world. A favorite among professional and recreational wagers alike, this type of betting involves betting on games such as jai alai (a unique sport that almost resembles racquetball. This type of betting is also notable as it allows punters to wage against each other. Wages go into a shared pool that results in equal cuts for all the members and a small commission for the “house.”
Helpful sports betting tips for beginners.
If you are new to the game, here are a few tips to always keep in mind;
• Start small, go slow
The law of gambling is to only bet with what you can afford to lose. It is great to be optimistic and remember that the losses may be more than the wins and vice versa.
• Do your research
You may be Betting for fun, but the research element is part of It. Research, in this case, entails familiarizing yourself with the game, the players, the lingo, and so on. if you’re into college basketball, you can follow Doc’s basketball tips to ensure your chances are higher.
• Set realistic expectations
In whichever way you look at it, betting is a competition between you and the bookmaker or other wagers; thus, wins often come scarce.
Sports betting is an excellent way -If done wisely- to enjoy and participate in the game you love or even learn a thing or two about other games. Aside from the fun, there is a lot of potential in it so bet wisely, and good luck.