Betting on your favourite sports game or team is a fine way of adding more excitement into your pastime. Sports betting pertains to the general activity of predicting sports outcomes making a wager. The “Oddsmakers” or those who set the odds are considerably efficient, so in order for bettors to win, they need to properly utilise and analyse sports information.
Meanwhile, “Bookmarkers” (United Kingdom) or “Sportsbooks” (United States) that accept bets offer many alternative bets to add variety to the entertainment experience. One common betting variety is “Point Spread” that lets the bettor wager on a winner from two choices given a spread or adjustment: you can bet on the underdog and win if it scores less than the spread, or you can bet on the favourite and win if it scores more than the spread. To prevent a tie, oddsmakers usually include a half-point spread.
Another is “Money Line” that establishes the odds for each team but inversely proportional to the point spread, where the + sign is for the underdog and the – sign is for the favourite. Say Team A is quoted as -150 and Team B as +120, with bets offered at 10:15 odds on the favourite and 10:12 odds on the underdog. This means that for every 150 you bet on Team A, you will win 100 and for every 100 you bet on Team B, you will win 120.
There is also the so-called “Future,” which is a bet on a future event. At the start of each season, the bookmakers give out odds for teams to win the championship. The odds alter, and usually get shorter, as the game date nears. But if you win, you will receive payment at the original odds that you took. If you have ample knowledge on the sport you are betting on, this can be the most profitable game for you, especially if you have a good judgement.
Still another type of bet is the “Head-to-Head” where bettors predict competitor’s result against each other, rather than on the overall outcome. This is typically played in races, where you get to bet on two or three drivers and their placement among the others. You can also wager on a tie in case you believe that the drivers will have the same time, will drop out, or will get disqualified.