At this point in time, it’s worth while watching a sporting event to see just how much you’ve been betting in relation to how much you’re likely to win. Bookies spend a lot of time trying to figure out what the most likely outcome is and what the most likely placing odds are. They will frequently change the odds in order to try and lure people to certain bets. They’re masters at it, that’s for sure.
A sports bet is simply a bet that’s on an event, the outcome of which is something important for you personally. It could be a basketball match, a football match, a horse race, a sport etc. Betting on any one of these would be a pre-event bet.
Once the event starts, you place your bet at odds provided by the bookie.
- Again, the bookie (or your betting agent) will likely offer various odds for you to consider. This is where you’re likely to formulate your betting edge. A good bookie will consider all your exposure, and likely offer you odds that are close to the probable outcomes. The bookie wants you to bet on outcomes that produce the biggest profit for them, but you on outcomes that produce the least amount of profit. The way you can do this is to place your bet at higher odds if you believe there will be more outcomes that produce a high amount of profit, and the same for the underdog.
- Bookies often offer around three different types of odds – zero, dependent, and fixed odds. By ‘deposit’, I mean that you’re the initiate of the bet, the amount of money you’re likely to lose in the event it doesn’t produce a profit. When you say you’re taking part in ‘progressive betting’, you’re betting on an event whose outcome is known less than a minute after the event has taken place.
irtually all bets can be placed using either or both of the following methods – no limit, pot limit and/or spread limits (there are exceptions with some bets).
In the case of a spread limit, the amount of young can be limited. This means that the bookies will offer you odds at which you can bet at, say, a 20% (eeny) of the normal amount. The limits for maximum and minimums are 25/20 and 50/30 respectively. So if the actual odds are say nine to one, then minimum bet would be zero. If you’re in a bet at five to one, you’re eligible to bet anywhere between nine and twenty dollars.
In the case of no limit betting, the smoothness of the bet is given more importance.
If you make a poor bet, the punishment is so harsh that you can end up with nothing.
- Spread limits tend to be more important in the final stages of an event, the point at which profit and loss become virtually even. Bettors naturally favor bets which carry a higher risk, so the maximum risk rises as the limit higher. At the beginning of an event, the bet is usually small, pertaining to the amount of the stake at the beginning of the event, say five or ten dollars. As the event progresses, the stakes rise, so if you think you can handle such a risk in the beginning, you can start betting more and more money at the end of the event, the event itself, and so on.
- Internet sportsbooks frequent doubling the sums for losses in order to attract bettors in the beginning and to decrease the sums for profits in the end. This is usually done to even out the odds or to make the events even. So, if you think it’s possible to get 20 or even 25 dollars for a win, in the final stages of an event, you should in fact bet at the higher sum, containing an equal stake for both outcomes. The only exception to this rule is the case when the bettor thinks the sum is too small, e.g. less than 10 dollars. For such a case, the bookmaker offers a term commonly known as “term depending on the risk”.