Sports betting is almost as old as the sport itself. People have always talked about which athlete can prevail against the other and why. Expanding these conversations with a bet offer is more than likely to happen from ancient times. So it is hardly surprising that sports betting was part of everyday life even in antiquity and bets in sports had first structures developed there.
Already at that time, the first bookmakers appeared (as we know it nowadays) and were the person who offered sports bets. In contrast to the simple phrase “If my favorite competitor wins, you pay me an amount of money, if your favorite competitor wins, I’ll pay you the same amount of money” they already work with odds and also took bets from unknown bettors and of course a tax was collected (like sportsbook margins today). In Europe, the starting signal of taking bets in sports events was at the 23rd Olympic Games (676 BC), and participants were the gladiators. The chariot races also enjoyed great popularity and many Romans lost their monthly income in the hope of better living.
Sports betting was truly cultivated in the 18th century in Britain. The horse racing organizers took bets based on the horses’ performance. At the beginning of the 19th century, the gallop races were organized in Germany too based on the British model and the sports betting bookmakers were able to prevail in Germany. After 100 years later, football betting followed, also developed in the UK. Nowadays the European Union is pushing for the market liberalizing. Customers can benefit from a wide variety of different bets, odds, and offers.
Types of Sports Bets
This type of bet is called “money line” or “straight up” in the North American region. This is the best known and oldest way to bet. The punter takes a bet on a result, such as (Participant A) wins against (Participant B). Mostly this is a 2-way bet where victory or defeat is possible or 3-way bet where the drawing is possible too besides victory and defeat.
Example: a pre-game single bet (money line) on visitor team West Ham United
This type of bet is called “accumulator” or “parlay” in the North American region. The combination bet allows the punters player to maximize the odds by combining all chosen single bets. Also, the odds of each bet are multiplied here, so that the potential profit is much higher than when betting on the single bets. Disadvantage: if only one bet fails, the entire multiple bets are lost. The advantage here is that with relatively low-risk single stake bet a high equivalent odd can be achieved. That is why they are especially suitable for small bets. Example of multiple bets consists of 3 money lines single bets:
The system bet is basically a combination from multiple bets where mathematically accepts a number of maximum mistakes. For example, a system bet ticket “2 out of 3” is considered won if only two single bets are all won, from all three single bets. In principle, 3 different combinations would be created for this bet ticket. The total stake is automatically calculated and most of the time all possible combination is invisible for the punter.
Live bets, also called in-running bets, allow the punter to bet the result of an event, during the sporting event take place. The odds provided by sportsbook will change during the gameplay sometime in seconds. These kind of bets are very popular and some statistics show that over 70%-80% from all Asian sports betting money rollover are placed in live betting.
Handicap bets belong to the special bets. With these bets, the clear favorite is devalued by an imaginary handicap. So it may be, for example, that the newly football promoted team plays against the league leaders, give an extra +1.5 goals fictitious goals. So that the favorite wins the game in the sense of the best ticket, the team should have to score with two goals or more comparing with the underdog team goals. Handicap bets offer any predictable game in a much more exciting and can make the odds much more equilibrated. When we have 2 possible outcomes [such as Team_1(-AH) or Team_2(+AH)] we say that it is an Asian Handicap offer with Win, Lose or Push (refund) results. When we have 3 possible outcomes [such as Team_1(-AH) or Draw, or Team_2(+AH)] we say that it is a European Handicap offer with Win or Lose results.
Example: a pre-game Asian Handicap -0.5 for visitor team West Ham United
If we pay attention, we can see that Asian Handicap betting offer accept higher stakes on each single bet ticket, comparing with Money Line Bets (in the above examples 45k US$ on AH click bet vs. 15k US$ click bet)
In long-term bets, punter does not rely on the short-term event to finish, but on champions or cup winners or sometimes on longer time events. Long-term bets are comparatively unattractive for many punters, but can certainly offer higher odds. In 2013 Nick Newlife made a wager of £1,520 at odds of 66 that Swiss tennis player Roger Federer would win seven Wimbledon titles by 2019. His bet ticket has netted more than £100,000 in profit.
How Are Odds Calculated?
An odd reflects what a bookmaker think about the probability of occurrence of an event. As a simple rule, it is determined by statistics. However, if the odds are converted into the sports betting probability and added together, they never hit 100%. This is because bookmakers have to work economically and therefore take a percentage from every event. This is called margins and allow them to make a total profit, which is reflected in the payout ratio. Particularly high values odds with lower margins (which are attractive for the bettors) are achieved above all by betting exchanges and Asian bookmakers. Once the open odds are settled up, those are not permanently fixed to a given value for most bookies and will be adjusted over time. Such changes are depended from many factors such as injuries, weather, the money involved or just because the bookmaker wants this. Since it is rare that the bets of the players are distributed as its optimal probability, the bookmaker is forced to include the demand for individual bets in the odds. That’s why most bookmakers change their odds over time. In any case, bookmakers also will try to incorporate the preferences of the players directly into the odds. Therefore, it is often a disadvantage to bet on teams or players who have a large number of fans. These are also preferred by the punters in betting, which results in a less attractive odds than the pure probability of occurrence would determine. The same applies to clear favorites. In some cases, this can even lead to outsiders being awarded an exceptionally high odd on which the bookmaker even calculates a negative profit margin. That’s why sports betting bookmakers often pay more attention to the outsider (underdog) participant than to bet on the favorite.
How To Convert Sports Betting Bonuses?
If you are hunting free bet bonuses it is important to know if it’s worth and you have to pay more attention, especially to the bonus conditions. Before paying any starting money bank capital to the bookmakers few general rules have to be obeyed and bettors should know the answers for few questions:
- How often does the bonus have to be rolled over?
- Are there a certain odds below which the bet is not under the wagering conditions is included?
- Is there a time limit?
- Are only certain sports included?
- Do I have to use the entire sports betting bank first to access the bonus?
A good trick had been established in the past for hunting sports betting bonus:
Register accounts to two different betting sportsbooks with the same bonus conditions. Deposit the same amount of cash for both providers in the same currency. Bet on the first sportsbook on any 2-way bet event. With the second bookmaker bet on the same event but on the opposite participant/result. Every bet should have odds as close as possible to 2.00 The higher the odds actually are, the better profit will be. The goal is to get as close as possible to a sure bet. If all goes well, then one betting account should have doubled the amount, while the other one is reset with a bonus to 0. After the bets will be settled, the money is transferred so that both sportsbook accounts again have a similar cash amount. Of course, it could be a few percentages lost in money transfers from bookmaker 1 to your bank/card/e-wallet to bookmaker 2.
Most bookmakers know about this kind of trick and do not allow to use the bonus directly. Instead, they demand that they first use the personal cash account completely and then they release the bonus. In this way, the payout of the bonus will become more difficult but ultimately requires only a little more capital. The fact that this tip works, however, becomes less and less likely, the more frequently the bonus must be implemented before it is paid out. In very severe conditions, it makes more sense not to try out betting providers by their odds, but to put with expertise and strategy. Sometimes there is a condition to roll over the bonus at least 5 times or more, which is a nonsense to use the above trick.
Here is the good news: you could forget about all these pain in the ass troubles and now you can benefit straight away for receiving 10 €/$ Pinnacle free bonus for the first registering & depositing to Pinnacle sports which is far better than any free bet condition given by bookmakers.
How To Find Surebets?
Surebets are bets made that brings you to profit no matter what the results of the event will be. Sounds interesting, but in fact is not an easy task to be accomplished as it seems to be. In real life, this method of betting is also called “arbitrage betting”. In most cases sure bets consist of 2 or 3 different single bets which are placed on an event such that any outcome will be, a “sure” profit will be. These sherbets result from a odds difference in the various betting providers (online or offline) and can be found much faster through the Internet than before. The trick is that a better makes several bets on the same game and the right combination results in bets that always bring in at least one bet as a winner. Especially through betting exchanges Surebets have become much more common. However, this type of betting is usually attractive only to players who play with high stakes. The profit is rarely higher than 5% so that such bets are worth the invested time only by high amounts of money.
In order to find and bet on Surebets, the following conditions must be met:
- Research: only the comparison of different betting providers leads to the fact that Surebets can be discovered at all. Different websites offer odds comparisons from different bookmakers and that is very convenient to use, but often the duration time for the arbitraging odds is counted in minutes.
- Capital allocation: only those bettors who consider its total capital in both sure bets can take advantage of this. Because of the low-profit-margin. In addition, the stakes must be very high.
- Speed: many sports betting experts are constantly looking for sure bets. As bookmakers have to adjust their odds to maximize their profits, so the entrance odds often change after a short time, because of too many worldwide bets.
- Reliability: bookmakers who frequently cancel bets due to odds errors must be avoided. When a bet is won and the bookmaker says that odd was “due to an error” and will cancel the bet, the better loss is highly excessive.
Which Bet Tactic Is The Most Successful in Sports Betting?
Basically, there is two kind of sports betting bettors. Some of them are concentrating almost exclusively on the value of sporting odds or variance and movements and they are trying to use their knowledge through mathematics probability theory to gain success. The other kind of bettors are trying to incorporate their specific sports knowledge for taking betting decisions and they almost do not take odds numbers into consideration. Of course, there are punters who are using both approach tactics. Either way, to succeed in sports betting, it is essential to work with numbers and best of all to be able to handle with loses. That means to have a good money management. Even football fans who rely on their expertise need statistics to help them against wrong betting decisions. Betting relying only on the feeling does not lead to long-term success in sports. Often, it makes sense to use the betting system to capitalize the betting passion.
The most popular tactics in sports betting are:
- Betting on different results in live betting can be very promising. Since the odds in-running will adapt to the gameplay, it is often possible to achieve a Surebet. Of course, there is a risk that the tactic will fail. If the game goes contrary to the player’s initial bet, the loss can be frequent to be compensated. The balanced games are problematic too because the game could be decided only towards the end.
- Another trick is to implement the sports betting bonus relatively safely is to combine several “safe” bets. Most providers require a minimum odds of 1.40 per bet so that the amount meets the free bet conditions. Who bets on relatively safe bets (a classic would be a home game of FC Bayern against a much weaker opponent) and combines several of them, is a relatively low risk.
- The opposite strategy can also be a successful one: punters who consciously choose high odds can compensate for their many failures with a single successful bet. Combo bets with high odds are of course not advisable because of their lowest chance to win.
Sports Betting Statistics
Those who spend a lot of time in front of a computer for placing bets can often benefit for better odds if the bettor has sufficient patience. The reason for this is that odds are constantly being adjusted by all sportsbook online or betting agency. The open odds, are developed by specialists and reflects an expert opinion that estimates how likely each outcome will be. Due to the money liquidity involved in the sports betting market and other factors, the odds will change eventually. In many cases, this can be detrimental, for example, if a relatively secure event becomes unattractive due to low odds, but in many cases, the opposite is the case. In order to find out which odds have become more attractive, working with statistics and other backgrounds is an indispensable duty as a better.
The following statistics data is recommended to search for:
- At least the results of the last 10 games of each team/player/participant.
- Direct comparison results.
- Injuries or illness.
- Coaching changes.
- Weather forecast.
- The number of goals with exact victories against comparable opponents.
- Depending on the sport it is also recommended to know other specific characteristics such as rubber (tennis) or home weakness.
- External factors such as public disputes in the team or club, pressure from the press or special events in the private lives of players or service providers.
Numerous statistics websites help to determine the relevant data. If the information provided there is insufficient, you will need to prepare it yourself. The source of this site is the official sports websites, which offer a wide range of statistics. Basically, even with complete statistics offers different sources should be compared. This is particularly useful if different statistical analysis systems are used. These factors are usually much more accurate in determining whether an odd is worth its money or not. Of course, comparing odds from multiple betting sportsbooks also helps, with special emphasis placed on starting odds, as odds changes usually reflect demand rather than how likely the outcome actually is. Since bets are placed far more frequently on favorites than on outsiders, it may be worthwhile to keep an eye on the outsiders’ odds.
Are Sports Betting Legal In Your Country And Region?
Almost all country have their own agency who regulates laws for sports betting. It must be the bettor’s obligation to be informed and follow the country and the region laws.
What Sports Books Should Be Used For Betting?
There are several hundreds of sportsbooks who have a business online through the internet. You do have an answer to one big question: Why should I register to a sportsbook who eventually close/discriminate/limit my betting account in the case of being a successful player? I have been banned or limited from the majority “best known” sportsbook around the web so from my personal experience, for longtime sports betting experience I can recommend just less than ten sportsbooks. In my opinion, above all sportsbooks is Pinnacle.com because they do not ban you no matter what, they allow high stakings, they allow arbitrage betting tactics and they welcome betting winners.