Welcome to OddAre.org your best betting guide with new bookmaker sites in UK! The global online sports betting market has seen nearly 400% growth in wagers made in the last 10 years, representing about $75 billion in bets made in 2014 alone.
Gross gaming revenue has doubled over the same time period. In 1996, shortly after the opening of the first online casinos, industry veteran InterTops Company brought sports wagering online. Profits were considerable and hundreds of other online sports betting platforms popped up in the following years. The online industry then underwent several advances, including the creation of peer-to-peer betting by BetFair in 2000 and the development of live betting in parallel with advancements in real-time technologies.
Classic sports betting
Classics such as horse racing, football, basketball and baseball are generally offered on all platforms. According to the American Gambling Association research, about $100 million is bet legally annually on the Superbowl. Other popular events for online sports wagering include the World Snooker Championships, the World Athletic Championships, the Champions League Final (English Football), the Wimbledon Tennis Tournament, the Rugby League World Cup and the Tour de France. All-season favorites include cricket, boxing and basketball.
Live betting remains one of the most popular and profitable forms of betting today. The strongest growth sector in the online sports wagering business is the mobile market. In 2014, the total number of mobile gamblers surpassed the number of desktop ones, according to the Morgan Stanley research. There are currently about 1600 million active mobile gamblers online. Online bookies offer a vast array of different types of bets today, so, let’s have a look how all they work.
Online sports betting – Law & Policy
Our online gambling portal offers a guide to sports betting in many countries around the world, including the US, Canada, Australia and the UK. Regulation regarding online sports betting activity varies considerably between these regions. However, there is a legal way to make online sports wagers in most countries.
It is possible to make online wagers on sporting events from almost any country in the world. The limits and responsibilities of both bookies and clients vary greatly between regions and it is important to take the time to verify the legality of an operation in your territory before engaging in wagering. Also, note that many countries require that earnings from sports wagers be declared as income on the winner’s official tax return.
Those of you who do not know about sports betting might find the large number of possible bets really surprising. Each of them offers different returns and bear different odds. Names and designations vary greatly by country. Below, we have set up a list of 11 different kinds of sports bets common in most parts of the English-speaking world. Please, note that bets might be called differently in your place of residence.
The Odds for these will be explained in the next section. Also, if you find any words that you don’t know, we suggest you check the Glossary.
- Straight Bets – also known as ‘sides’, they represent the most common type of sports bets. A Straight Bet simply involves picking the team/sportsman you expect to be a winner. It works with a certain peculiarity, when the bet involves team aiming to score points (such as football or basketball), generally involving a point spread as part of the bet.
If the number is positive (+), then you add the points to your team’s score. If the number is negative (-), you subtract. The team with the higher score after deduction is the winner.
- Parlays – A parlay or combo set, is a bet that links together two or more individual (straight) bets. Winning the bet depends on all of your predictions being correct, and so the winning of all wagers. A parlay is considered to be an interesting bet for most players because it offers larger payoffs than standard bets. But this is because the odds of winning are greater, of course, making of this a difficult bet to win.
- Totals – Also called over/under bets. This type of bet is only applicable to those sports that, unlike racing or boxing, involve the scoring of points in order to win. The gambler must first set a number, or ‘total’, representing a certain number of points. If the team selected surpasses the ‘total’ the bet is won, while you lose it all if the team/sportsman do not reach the ‘total’ at the end of the game.
- Teasers – A teaser or ‘two-team teaser’ is the name given to gambles consisting of a number of single or ‘straight’ bets and/or ‘totals’. For this kind of bet, the bettor will receive extra points he will be able to add or subtract to the teams selected in order to improve the point spread chosen. As for the parlay, the bettor will need to win all individual bets in order to receive the payoff. There are also several different types of teaser bets, generally depending on the number of different straights and/or totals the bet involves. It commonly applies to football and basketball games only.
- Pleasers – A pleaser is a group of individual bets combined. The difference between a pleaser and a teaser or a parlay is the line you move against each wager is moved against your favor by 6 to 7.5 points. Returns are very high although chances of winning are quite low. The player needs all predictions to be correct. If there is a draw, the wager steps down to the next lower number of teams. If there are two draws, the wager is a push.
- If-bets – An if-bet consist of two straight bets joined together only if the first selection is won. If this takes place, then the second bet can be carried out. If this second bet is also complied, the third one can be waged, and so forth. If-bets are quite popular among experienced gamblers and can result very lucrative for people that thoroughly plan their bets.
- Reverses – A reverse is a very particular type of bet. It works like a normal set of if-bets, except these if-bets go both in reverse and forward order, making of this a bizarre and complex kind of bet. Because of this, it is not quite as popular as other bets, yet reverses are found particularly thrilling and diverting by veteran gamblers.
- Office Pools – This is one of the most traditional forms of sport betting. In this kind of bet, the whole pot is shared by the winners of the bet. Payouts for the pools are a 100% payout. In this case, if the spread is displayed, the player will have to choose the bet against the spread.
- Prop Bets – These bets have proven to be very popular. Super Bowl fans and European soccer enthusiasts have proven to have a particular affinity for them. Prop bets consist on speculating over individual events, such as who will score the first goal of the game, the first foul, etc. In some cases, there is a spread, given either by points or statistics.
- Futures – As their own name might suggest, futures are the bets to be determined in the long term, instead of being based on imminent sporting events. Generally, future bets involve predicting what team will win certain future championship, rather than predicting the result of an individual game.
- Asian Handicaps – These bets are mostly common in European soccer games, although they can also apply for baseball, basketball, hockey and others. It applies similarly to a normal handicap, the difference striving in the fact there is a certain quantity of money guaranteed to be won or lost on each bet.
These are the most popular types of bets. Bear in mind, most of those we have not listed are mere variations of the ones we have explained above. You might also want to know Point Buying is a possibility for most gambles. It basically involves the purchasing of points to move the point spread in the player’s favor.
Now that we know about all of the different sports betting types, it will also be much easier to understand the odds and the way they work. First thing to know is there are 3 different kinds of betting odds used at every sports book you can find. These are:
- The Money line Wager – It’s probably the simplest gambling odd existed. The Money line is basically the ratio you multiply to the amount you bet in order to know your winning wager.
- The Point Spread – This one is trickier, but not hard to grasp either. Whenever a bet takes place, a team is generally favored over another. Say the Miami Heat is favored over the Bulls by 6 points. So the spread, in this case, is said to be 6. This would be represented the following way:
Miami (-6), Bulls (+6)
For you to earn the wager, if you have bet for the Miami Heat, Heat would need to win by more than 6 points. If you bet on the Bulls, they will need to lose by less than 6 points, draw or win the game for you to earn the wager.
As a general rule, the home team gets a 3 point spread over the visitor.
Not all sports have a spread associated with.
The Over/Under – This is the odd applied to the simple ‘Totals’ or ‘Over/Under bets’ we explained in the past section. The gambler will bet over whether a game result will be higher or lower than his predicted result.
Different Formats of Betting Odds
Indeed, betting odds vary across countries. However, only it is in a format, really. The most widely used formats are:
American Betting Odds – These have become more broadly used over the year, even if the format is more complicated to read than most out there.
American Odds read like this:
Odds to Win Super Bowl:
Team A: -150
Team B: +200
The numbers represent how large the wager must be in order for you to win 100 USD. If the number has a “-” sign, that means you would have to bet more than 100 USD in order to win back that quantity. On the other hand, if the number is preceded by a “+” sign, the bettor would be able to risk less than 100 USD and receive that quantity back in case his prediction is proven correct.
Fractional Odds – These might be the easiest to understand. Fractional odds look the following way:
Odds To Win Fight:
Fighter A: 4/7
Fighter B: 3/2
You may realize one of the fractions is greater than 1 (3/2>1) while the other isn’t. That’s the way of figuring out whom or what team is the favorite. The favorite is always the smallest fraction, as the public, in general, has bet over it.
As it happened with American odds, the ones betting for the favorite will have to bet more than the quantities they want back actually to get it.From the example above, some who has bet 7 USD over the Fighter A will receive 4 dollars back in case the Fighter A wins. On the other hand, if you bet 2 dollars over Fighter B you will receive 3 back in case he wins.
Decimal Odds – These are most commonly used in Europe and can seem more complicated to understand for some of us. They are not the same as fractional odds, even if you may think so at first.
Decimal odds look the following way:
Odds to Be Next President:
Candidate A: 1.50
Candidate B: 2.45
As you can notice, and unlike the other two, there is not a ratio <1 and another >1.
The Candidate with the lowest ratio (Candidate A) is, nevertheless, the favorite, same as the other explained odds.
The tricky part is to determine the return, but it’s not that complicated either. Say you placed a 1 USD bet. If you bet for Candidate A, your return will be the initial amount you placed times the ratio shown. If Candidate A won the elections, therefore, your return would be of 1*1.5 = 1.5 USD.
Similarly, if you bet 1 USD over Candidate B, your return would be 1*2.45 = 2.45 USD in case Candidate B won the elections.
There are a series of important tips that even the most veteran bettors might want to be aware of. Before the development of any strategies, the player should consider the importance of common sense and clarity of thought. Here are a few useful tips that will help you save money when betting and even make you earn considerable quantities if applied correctly.
- Don’t Be Overconfident – Even if sports betting does not exactly work with the strict probabilities of roulette, and so does not merely depend on chance, there is still luck behind it all: no one can predict an outcome, we just guess and we happen to be right sometimes. If you are on a winning streak, the only thing that can happen next eventually is that you will lose it. Be careful and think of what you are going to do before you actually do it.
- Get Prepared – We can only recommend you to check as many different sites and books as you can. There are loads of gambling websites out there competing with each other and trying to offer the best rates to attract more customers. Take your time, go over several alternatives, get in contact with other gamblers you might know and make your choice carefully after thoroughly studying your possibilities.
- Study the Numbers – To increase your winning chances, you should follow sports regularly and be up to date. Know what player is injured, what team or horse is on a winning streak and try predicting this way that will probably perform better.
- Know When to Leave the Bet – Some say this is the greatest virtue of all real good gamblers. It’s easy to stay when things are going right, and you are making money. The difficult thing is to know when to feel satisfied. If you are on a winning streak, the only thing that can possibly happen is that you’ll lose, eventually. Learn when to stop betting, and you will be rewarded.
- Money Management – Some gamblers set aside an amount of money they call the ‘bankroll’. They do this so they can engage in betting while avoiding the risks of finding themselves in bankruptcy. The general credo is not to use a rent money for gambling and vice-versa. A common betting mistake that has even led to tragic outcomes is overconfidence. Gambler tends to raise their bets greatly to the point of even going full tilt whenever they feel lucky. Don’t let this happen to you or your regret may torment you forever.
Now it’s time to discuss the different tactics and approaches players value in order to earn a good wager from a bet. To raise their winning chances, gamblers often develop a series of betting strategies or betting systems, as a structured betting approach. Counting cards is one of these methods.
When it comes to sports betting, there’s also a number of strategies that may increase your winning chances – or at least to reduce loss costs. Below are the most famous ways.
- Betting Against the Public – This strategy is logical and simple. When you bet against the public, this is, if your bet is opposed to the majority of bets, you will earn greater revenue in case you win. On the other hand, the public is not generally stupid. The public tends to bet for the team/sportsman that has a greater chance of winning. That is why this is a strategy to cautiously considering.
- Spreading Bets – Most experienced gamblers spread their bets as a way of securing at least a minimum gain in every bet they make. If you were to play roulette and you had 100 USD, for example, spreading the bet would mean betting 60 USD on a number and 40 USD on another, or dividing it into any other way.
- Handicapping – This method has been and still remains to this day particularly attractive in the world of horse racing. It consists of the observance of the horse (or footballer, or batter) prior to the race. This method requires a veteran eye, of course, possibly even a retired sportsman while it also involves loads of intuition. Moreover, yet it is still respectable and considered to be an effective strategy by gamblers. Bear in mind the term ‘handicapping’ has different uses in the betting world.
ATS (Against The Spread) – The act of betting for the team/sportsman that has a negative sign in the point spread, in an attempt to leverage a greater return.
Bad Beat – Wager lost unexpectedly.
Beard – Friend or sidekick that places the bets instead of the owner of the money, in an attempt to hide the true identity of the bettor.
Book – Establishments that accepts bets on the outcome of a sporting event.
Buck – A $100 bet.
Chalk – Name used to refer the favorite team/sportsman.
Circled Game – Game with a set of betting restrictions (usually due to injuries).
Dime – A $1,000 bet.
Dime Line – Line where the Juice is 10%
Even Money – A wager on which either side lays any odds or vigorish.
Exposure – The maximum amount of money a sports book stands to lose on a game.
Figure – Amount owed to or by a sports book.
Hedging – Placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings.
Juice – Commission the bookie earns.
Lines – Term synonymous to odds.
Lock – Easy winner.
Longshot – Team or sportsman considered to be unlikely to win.
Money Line – one of the most basic and traditional betting lines. A Money Line is an indicator of the amount a player will need to bet in order to earn $100, or the amount the player would receive back if it won a $100 bet.
Press – To wager a larger amount than usual.
Pot – the slang term given to the total amount of money bet by all parties involved in the gamble.
Push – a tie between a bettor and a sports book. It takes place when the final score of the game is the same as the point spread.
Round Robin – A series of 2 or more teams in 2-team parlays.
Scout – Person waiting for an unusually strong wager. Also known as “sports players”.
Sharp – A professional gambler.
Ticket – A sports betting wager.
Tout – Person who sells his/her expertise in sports betting.
Vigorish –The bookmaker’s commission on a losing bet; also known as “juice” or “vig” for short.
Remember that the best way to get your head around all of these seemingly complicated concepts and definitions we have explained to you is to put all of your gathered knowledge into practice. You may be surprised by how simple and intuitive it may actually become for you.
What Sports Can We Actually Bet on?
As it often happens, there is no direct answer to this question. Because it only depends on your country of residence. You are not going to be able to place a bet over Gallic Football if there is no Gallic Football where you live. If you are American or European rest assured you will be able to bet on every existing official sport taking place in your country. In the United States, for instance, football, basketball, baseball and boxing are some of the most popular sports to bet in. Also, since most sports betting take place online nowadays, you are actually able to bet on any existing sport, as long as you find a gambling site that allows you to bet on it.
Why Do Sports Books Change Their Lines?
Whenever a bet is run, as a general rule there will be one favored side and another, the public considers more unlikely. Most people bet on the outcome they believe to occur (this may not be the case as others bet over unlikely outcomes to maximize revenues), this outcome is the favored one and believed to be the most probable.
Lines move in order to balance bets placed on either side. If lines did not move, fewer people would bet on that outcome (as it is a less likely outcome). This would actually be counterproductive for most gamblers, as it would unreasonably skew winning revenues.
Teasers are made up of multiple selections in which the odds have been ‘teased’ in the bettor’s favor. Teasers are ways for bettors to increase their odds of winning by agreeing to a lower rate of return. Bettors can either tease the underdog and take more points or tease the favorite, laying less.
What Does ‘Juice’ Mean?
Juice is also referred to as the ‘vigorish’ or ‘vig’. It’s simple the amount of money that sports books take in as a pay for the gambling services they offer. Whenever a bet is agreed, there is a part that loses money and a part that goes home with more money than they bet. The juice is taken from that last winning lot.