Sports betting is one of the few forms of gambling where skill can greatly outweigh the benefits of luck. For this reason, sports betting has become one of the most popular forms of gambling in the United States and around the world. Add in the passion many people have for their favorite sports and it’s easy to see why Americans alone wagered $12.3 billion in 2010 on horse racing betting alone. Add in all the other sports you can bet on and it’s easy to see that sports betting is a favorite pastime for many people around the world.
Bet on your favorite sports team
Every year, people bet billions of dollars on sports teams. These bets can be between friends (which is often illegal), through office pools (again, often illegal), and through legally established online and brick-and-mortar gambling dens. The exact terms of the bet must be examined on a case-by-case basis, but there are some basic principles that are followed, especially for legal gambling houses.
Sports teams are not all created equally. Often the likely winner of a game is known even before it is played. Consider the University of Alabama Crimson Tide football team, one of the most dominant teams in college football. And let’s say they play the University of Toledo Rockets football team, which comes from a much smaller and less established school. The Crimson Tide would almost certainly win. If the Toledo Rockets pull off an upset, it would be a huge event, likely grabbing national headlines.
Therefore, most people would not bet on the Toledo Rockets winning in a straight game. The odds would be extremely slim. Instead, bet makers set an over/under score that dictates the Alabama Crimson Tide must win by a certain score in order for Crimson Tide supporting players to collect their money. So let’s say Crimson Tide receives a score of (-14). This means they must beat the Rockets by more than 14 points to “beat the odds.”
horse racing betting
If you don’t like team sports but want to enjoy the thrill of sports betting, a day at the races is what you need. Horse racing gambling is among the oldest and most prestigious forms of gambling and is enjoyed in the United States, the Middle East, Australia, and Europe. Certain horse races, such as the Kentucky Derby, are among the most iconic sporting events in the world.
There are numerous ways to bet on horse racing. The most common form is the “win” bet where the player simply bets on the winner of the race. However, just like sports teams, not all horses are created equal. Because of this, horses are assigned odds based on how likely they are to win. For example, a highly favored horse may be given odds from 1 to 9, meaning that for every $2 wager, the winner will take home $2.10. However, a very underdog horse can be given a 50-to-1 odds, meaning the winner will get $102 for every two dollars he bets. Most horse races place a minimum of two dollars on a “winning” bet.
There are many other types of bets, such as “Trifecta Box” where you have to correctly guess which three horses will finish first, second and third (in any order). If you want to learn more about horse betting, you should visit your local race track and learn about the different forms of gambling.