What is Sports Betting? What are Different Types of Sports Betting?

Betting is a term you all would be quite familiar with. When two or more people put a bet on a certain event coming out in their respective favour, or if something happen or not, is betting. And people put something on line or on wager that is most usually money. In betting odds are involved for a certain event or thing to happen more than other. The party whose preferred event happens or whose prediction comes right with respect to the win is the winner of the bet. And the losing party pays the winner.

Sports Betting

As we have discussed above, placing odds on something to happen is a bet, and when such a bet is placed on a sporting event is called sports betting. When you are placing your bet on a team or a player to win, and when they win, then you win the bet and are paid the amount decided with respect to the odds of that player or team’s win. And when that team or player doesn’t win, you lose the bet.

Placing Bets in Sports

There is so single bet mechanism and there is no set place to make your bet. You are free to place any number of bets in a particular sporting event or tournament or a single match.

Betting in sports is quite popular across the globe, and in some countries it is legal and are regulated by the authorities whereas in certain countries it is illegal. In today’s times, you can not only place physical bets, but can also place online bets on a large number of betting websites in India, or in other countries.

There are many people who earn big while placing bets on sports. And as some people might put it completely as luck, there is more to increasing your winning chances in sports betting. You need deep knowledge of the sports, conditions, understand how sports betting works, should know the mechanism of online betting and sports betting websites, and should know how to bet and up to what level to bet in a single bid. Skilled and experienced people in betting do earn handsome money, but it does take a bit of time.

Different Types of Sports Betting

  • Fixed Odds Betting

As the term suggests this, traditional form of betting, means the bet is placed on predicting who is going to win or not. Wagers are placed and then the odds are agreed upon. At the end of the game, the pay-out happens depending on the odds placed earlier.

  • Live Betting

Similar to fixed odds betting, the wagers are placed at fixed odds, but in comparison to that traditional form of betting, the wagers can be placed during the sporting event, as we can call it – in-play. As the play goes on and the chances of one player or team’s winning keep tilting, the bets also keep tilting, making it an interesting and exciting betting concept.

  • Spread Betting

This is completely different to the above mentioned betting types, and the bet is placed on a particular number – if your placed number is going to be higher or lower than the bookmaker’s spread count. For example, if the bookmaker has posted 3-2 score-line in a football game, and you think that there could be more than 3 or less than 2 goals, then in the occurrence of that (specific to your bet) you will win the amount in the multiple of initial stake of yours. Similarly, in the event of opposite of what you bet on, you will lose in multiples of your initial stake.

  • Exchange Betting

It happens on the fixed-odd basis, but without any bookmaker. One party backs the selection and her other party lays the selection (acting as the bookmaker), offering fixed odds on selection. The winning depends on whether first party’s selection comes correct or not.

  • Pari-Mutuel Betting

This is typically related to horse racing, however it can also be used for other sports as well. Here too, there is no need for bookmaker along with no involvement of odds. All the stakes are brought in a pool. Bettors who chose the winning selection are paid out at the end of the event from the pool.

  • Esports Betting

This one is mostly similar to the traditional form of fixed odds betting; however there is no wagering, and the placing of bets is done on video games, and now this particular sector involves a wide range of leagues and tournaments.

Sports betting can be really exciting and interesting. When you are looking to bet on sporting events in India, make sure to search for and participate in legal betting sites in India, and make sure to proceed cautiously and strategically.