What is Sports Betting?

sports betting

Sports betting creates a venue to predict the outcome of a game and place a wager.

Betting enhances life for sports enthusiasts by allowing them to win money. The variety of betting styles makes it more than just a simple game of wagering, however.

How Does “Straight Betting” Works?

A straight bet involves a spread. The spread provides one side with a handicap while it favors the other. The goal is to encourage betting on the underdog. The spread gives points to the team less likely to win.

A bookmaker building a spread on a basketball game assigns points to the team expected to lose. If team A is ranked higher than team B, an educated guess would include a win for team A. To amp up the betting; team A must beat team B by at least three points to create a spread. If team A scores 50 and team B scores 49, those who bet on team A lose. The winning team failed to beat the spread. Anyone who wagered on team B receives a payout. The opposite would be true if the score of the game were 54 over 49. Team A won by a score greater than the three-point spread.

How Does “Parley Betting” Work?

Parley is a term you often hear about sports betting. By definition, a Parley is a discussion or conference. In the world of sports betting, it means placing money down on multiple games. The advantage of parley betting is the payout. Parleys involve as many as 12 different bets, so winning payouts are substantial. Parley betting is a bigger risk because it is all or nothing. Bettors must win all the games, whereas, with straight betting, they only need to beat the spread in one game.

The only requirement of a parley is multiple bets. Bettors have the option to wager on different sports formats, such as two basketball games and one football. They may also play a team parley. Team parleys involve multiple bets on the same sports team. A progressive parley allows a payout even if the bettor fails to win all the games. The payout is less, but so is the risk.

How Do “If Bets” Work?

And if a bet is two straight bets put together with an if-clause. For example, if team A beats team B and then goes on to lose against team C, the wager pays. They if-clause means team A must win one and lose one for the bet to pay. Like all straight bets, the if version utilizes a spread. It is not about just winning the game. The team must beat the spread, as well.

The legality of sports betting depends on the location of the bet. For instances, sports betting is standard in Las Vegas but illegal in Kansas. Overseas, in the European countries, bookmaking is a legal profession. Wagers need to consider locale before participating in a sports betting situation even online. Sports betting adds fun to the games as long as you understand the risks.

A High-Risk Strategy

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