How Does Sports Betting Work?

When we look at the world of sports, there are many events. From basketball to volleyball, up to football, and soccer, different sporting events vary from one up to the other. But what is the one thing that you can do with all of them? You can always place a bet. That is where the world of sports betting comes into play. This article will give you a glimpse of how does sports betting works.

History on Sports Betting

The earliest signs of the activity were in Rome. It was during the time of gladiators and the Olympics. Many people enjoyed the intricacies, intensity, and fun sporting events bring. Of course, the natural development of a system of placing bets was born. The fans would like to win alongside their favorites and the added thrill of predicting the winner added to the tension. It then passed from generation to generation, further developing the sports betting systems we know today.

Development of Sports Betting

As the years go by, many systems gave rise to the popularity of sports betting in the world. One of which started with the most basic concept of winner takes all. However, this had a limit. Knowing that sports betting has the potential of having many people with divided opinions and predictions, a more flexible method is needed. This system is what we know of today as sports betting odds.

Different Sports Betting Odds

Traditionally, bookmakers are the one that set different sport betting odds, and this is still true today. The only difference is that the old style of betting, where players place their bets through bookies, is changed. Online sports betting sites became abundant, and people have started to place bets within the comforts of their home. There are different sports betting odds available, and flexibility became the key to getting customers and players. Knowing this, let’s take a look at some types of sports betting odds.

  1. European Odds or Decimal Odds – Evidently, one of the easier odd types available, this type includes the stake as well as the total payout of a bet. For example: 
    1. You are betting 100 on the Serie A team Juventus, and the odd present given to the team is 1.75. All you need to do is multiply your stake, and that would be the total payout. That would be 100 X 1.75 = 175. It means that you have won 75 in this case.
  2. Malaysian Odds – This type uses 0 as it’s base. There are two things we need to remember Positive and Negative odds. The only difference is that if you got a positive bet, you multiply your stake by the odds. If you have a negative bet you divide the stake by to odds. 
  3. HK or Hong Kong Odds – It’s almost the same as Malay Odds, and works as well in the same structure. With 0 as it’s base, the odd of “1” means that it is even money. The only difference between this odd type is that there is no negative value. 

That’s it! A quick introduction to how sports betting works. It is simple and quick to understand. Enjoy now and always be on the lookout for the next winning bet!

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