April 18th, 2010
If you have ever been interested in doing the betting on sports thing, here is some advice on how to go about it…
Sportsbetting. It’s fun and thrilling, ups the ante of excitement and makes a win or a loss, more than just, well, a win or a loss. Bet on your favorite team, be it baseball or any other game you think you know a thing or two about–the possibilities are endless – basketball, soccer and so on.
To help you on your way, Here are a few rules and words to get you acquainted with Sportsbetting.
Odds-maker (or Odds-compiler): This is the person who estimates the odds. Your job is plain and simple – beat him, rather, beat his odds.
Bets: Some Sportsbooks–where you can wager your bet, be in online or a place you can call over the phone or just personally drop by with your check book – have different combinations of bets for you to choose from.
But here are a few common types of bets:
Proposition bets: Make a wager on a particular result or outcome.
Parlays: Make multiple bets – of up to 12 – instead of separate wagers and boost your chances of a bigger payout. But all your bets must win for you to take home your reward.
Simple bets: You place your bet against the odds of a winner.
Point spread: Place a bet on a winner from two selections. But this is beyond just win and lose, and accuracy is the key. Players, as favorites and underdogs, are assigned points. You can bet on either of them. Should the favorite win more than the points spread or should the underdog lose by less than the points assigned, you get your money.
Progressive parlays: Like parlays you make multiple bets – up to 12 – and rewards are high in case of a win, but just not as high Parlays, but that’s because progressive parlays offer a reduced payout in case of a loss.
Head-to-head: Wager bets on competitors and not the outcome of the match.
Totalizators: The odds keep changing as per the share of the total exchange each possible outcome has received.
Future: Bet on a future event, when the odds are released at the beginning of each season. The odds keep changing as the match dates approach. This is for those who know their game well.
If-wager: You’re allowed to make a second-wager, not beyond the first amount, and subject to your winning the first selection.
These just a few options available–there are many more type, each with different attributes which may be of interest.
Bottom line: If you think betting is for you, give it a shot. Start small, see how it goes and have fun! And, as always, remember to please gamble responsibly…