Are you interested in online gambling and don’t know where to start from? It’s pretty simple! Give a try to sports betting, considered by many the easiest form to get started with. When betting on sports, the goal is to predict the outcome of a sport event. If you’re right, you win. If you’re not, you lose.
Even people who have no interest in betting on sports have a minimum understanding of what’s involved. Actually, the reason for which this activity is so common if the fact that knowing the basics of sports betting is enough. So here is some information on the field, including fixed odds betting, alternative sports betting and more.
What is fixed odds betting?
Well, it’s easy. It’s the traditional form of betting. It pretty much involves predicting what is going to happen during an event and place a wager on the appropriate selection. The term fixed odds comes out of the fact that when the wager is placed the terms are agreed. If you win, you will get your payout based on those odds.
What you should also know, any sports bet has five main components, and they are as follows:
- parties to wager – each sports wager has two parties, each one taking an opposing view to the other;
- selection – refers to what the bettor is betting on;
- stake – the amount of money being risked on a wager;
- and payout – the amount of money a bettor will get if his selection is correct.
There are a few alternative to traditional odds betting, including:
- in play/live betting – wagers are placed at fixed odds, but there is an essential difference: you can place your bets during an event;
- exchange betting – also uses fixed odds, but there is no bookmaker involved;
- spread betting – there are no fixed odds and a wager doesn’t simply win or lose. In this kind of betting you have to choose whether a number will be higher or lower than the bookmaker’s posted spread, and you will win or lose depending on how much higher or lower the number is;
- pari-mutuel betting – it’s a type of betting used mostly for wagering on horse races;
- e-sports betting – is similar to fixed odds, but there is one major difference: bets aren’t placed on traditional sports, but on competitive video gaming.
How to bet with a bookmaker
The process it pretty simple. You simply choose the selection you want to place your wager on, decide how much you want to stake, and then give both to the bookmaker. The rest is up to them, including payout for a winning wager.