Many people are familiar with the old way of betting, especially in on-site casinos. Fixed-odd gambling has always been the popular choice until online casinos came into the picture.
There are different ways you can place your bets online, but before delving into that, you may want to check sports predictions here.
Now, let’s look at how each of these methods works.
1. Fixed Odds Sports Betting
Fixed odds are available in online and on-site casinos. More so, it is the most straightforward form for every beginner. Here, the player and bookmaker agree on the odds, determining how much each party gets after the event.
A practical explanation using the tennis teams:
For example, if a bettor and bookmaker place an odds of -110 on Brown Bears and Colorado Buffaloes, the bettor would only need to choose what team will win while staking $100. If the party you support wins the game, your profit is $91. However, your payout is your profit plus the amount you wager. So you will receive $191. On the other hand, if the team you support does not win, you lose your wagered amount to the bookmaker.
2. In-Play/Live Betting
Live gambling is similar to the fixed odds, but bettors place their bets once the event is on and not before it starts. It allows you to place a bet based on impression and not a history or record. More so, many online gambling sites offer bonuses for live betting.
3. Spread Betting
A spread type of betting is different from the point spreads available in other kinds of betting, such as fixed betting. Spread betting focuses on who wins and how much your favorite wins or loses the game. Although spread betting is risky, it often attracts players because of its high payout, provided all the events you bet on are correct.
4. Exchange Betting
Exchange betting is a fashion method that does not necessitate the role of a bookmaker. The two parties involved place a bet on an outcome, while one backs it, and the other party lays the original event using the opposite result. In this case, the other person who challenges your bet will serve as the bookmaker.
Here is a practical example using the football teams:
If you place an odds of +100 on Atlanta Falcons winning Carolina Panthers with $100, and the team happens to win, you will receive $200 (your wagered $100 and the other party wagered $100). If the other party believed the Carolina Panthers would win instead, and the team wins, you will lose $100 to the individual.
5. Pari-Mutuel Betting
Pari-Mutuel betting eliminates the influence of the bookmaker, although not completely.
A group of bettors come together and place a prize pool on a particular team. If the team eventually wins, they spill the price, while the bookmaker or organizer will take a specific percentage. While splitting the money, some bettors will receive more than others, depending on how much each person stakes. This type of betting is popular in house racing.
Conclusion
The significant advantage of betting online is the opportunity to bet on non-sporting activities such as politics, entertainment, and Esports. Hence, it provides a broader option of exploring your chances.
Since there are various bet types, carefully choose based on your needs, experience, and the amount of stake you are winning to let go. If you have little or no idea how a particular bet works, this article recommends you try it another time after learning the fundaments. More importantly, study the pros and cons of each bet carefully.