Sports betting is an incredibly popular pastime all around the world and has been around for about as long as sport itself!
Your goal is simply to predict the outcome of a sports event and wager money accordingly when participating in sports betting and if your prediction is right you’ll be handsomely rewarded.
While sports betting isn’t especially difficult, we do believe in the old adage that knowledge is power, so the more you know the better.
Understanding Fixed Odds Betting
A form of betting where you predict an outcome and then place a wager accordingly, fixed odds betting is the “traditional” form of sports betting and is so named as the odds are agreed upon when the wager is placed.
If the wager is successful, the payout is based on the agreed upon odds, even if the odds have moved on since the wager was placed. The best online sportsbooks offer fixed odds wagers on almost every sport played on a professional level, so you’ll never be short of options.
Different Types of Sports Wagers
One of the most appealing aspects of sports betting is all the choices afforded to punters and you’ll be able to bet on any sport and any match, event, league, or tournament. You’ll also be able to choose between a large variety of wagers, the most popular of which are mentioned below.
You don’t necessary have to learn everything there is to know about every type of wager as a beginner – especially with live AFL betting – but it is a good idea to get to know the most popular types.
- Point spread or Handicap
- Totals or Over/Under
- Props or Specials
- Futures or Outright
- Parlay or Accumulator
Different Formats of Sports Betting
These are a few alternatives to fixed odds betting:
- In-Play / Live betting: fixed odds bets must be placed before the start of the event, while in-play / live betting wagers are placed throughout the event.
- Exchange betting: also makes use of fixed odds, but there is no bookmaker involved. One punter backs a selection, while the other lays the selection.
- Spread betting: a wager placed on whether a particular number will be higher or lower than the bookmaker’s proposed spread and the payout depends on how much higher or lower the number ultimately is.
- Pari-mutuel betting: all stakes are paid into a pool and those who backed the winning selection receive payouts from this pool, eliminating the need for a bookmaker.
- Esports betting: similar to fixed odds betting, wagers of this type are not placed on traditional sports, but rather on competitive video gaming.
Finding a Top Notch Online Sportsbook
Finding a top notch online sportsbook requires plenty of research as its imperative that you only create accounts with reputable sites.
Read plenty of reviews and compare the sign up offer across a variety of different online sportsbooks.
Be thorough in your inspection of the site and ensure that your favourite sports are offered as betting markets.