Sports betting

 1 July 2022

Sports betting has been an enormous success all over the world. They can be done both by independent bookmakers and in various casinos. Each institution creates conditions for cooperation (different rates, odds, sports, and much more). That is why making a choice can be pretty tricky.

Sports

Today, players can bet on almost any sport. The most popular are:

• Football;
• Basketball;
• Hockey;
• Tennis;
• Boxing;
• Cybersport, and more.

Many bookmakers also accept bets on less popular sports such as darts, table tennis, or badminton. So, it doesn’t matter what sports people follow; today, they can find a bookmaker for sports betting.

What events can players bet on?

The first online bookmakers accept bets mainly on the most significant events in the world of sports, for example, the World Championships. But today, large sites cover from 20 to 60 thousand events monthly. These can range from significant matches watched by millions worldwide to small regional competitions with a small audience.

In most cases, bets are accepted before the start of the game, but in some cases, bookmakers take chances during the match.

How are coefficients formed?

Before each match, bookmakers create their forecasts. According to the bookmaker’s analysts, the coefficient shows the probability of an outcome. Ideally, the likelihood is equal to one or 100%. It is calculated using the formula k=1/p, where k is the coefficient and p is the probability (between 0 and 1). For example, the chances of an even score in basketball are 50%, meaning the value will be displayed as 0.5 in the formula.

It is worth noting that the odds change from time to time, depending on the events. So, for example, if the leading player of a football team gets injured in training, the probability of winning the team decreases, which means that the odds change.

What bets can be made?

Traditionally, people believe you can only bet on who will win the competition. But in fact, they can make more complex bets, for example, what score will be defeated, whether the score will be even or odd (in basketball), as well as on the individual achievements of individual players.

In general, the following types of bets can be distinguished:

• On the outcome;
• Double chance;
• Bet on the correct score;
• Handicap (some varieties);
• Asian Handicap;
• Bets on time;
• Total (there are 2 types).

If players are just getting acquainted with the world of sports betting, it is better to bet on the match’s outcome; in the future, they will be able to learn more about other varieties and try them out. Making such forecasts is much more difficult, but the coefficients are higher here.

How to form your forecast?

Most people who want to bet on sports are accustomed to trusting experts and odds at bookmakers, which often gets them into trouble. That is why they must learn to independently analyze previous statistics, the composition of teams and coaches, the game strategy, and much more.

If the players have not previously followed the events in the world of sports, then analyzing all the information can take a lot of time and effort, but if you have not missed a single match for the last 10 years, then creating a forecast will not be difficult.

Bonus programs

Like casinos, many bookmakers seek to attract users’ attention by creating bonus programs. It is not only a welcome bonus of 100% of the account replenishment but also various VIP programs, weekly bonuses, and much more.

Thanks to them, players can learn more about the world of the bookmaker, try out different types of bets or get cashback. Each bookmaker creates individual programs, so players should consider this when choosing a partner.

Deposit and withdraw money

This topic has already been discussed earlier on Medium. People can only make money on sports betting if they bet with real money. They can replenish their account using a bank card (Visa, MasterCard, Maestro) and e-wallets (PayPal, Neteller, ecoPayz, and many others). In addition, some bookmakers also accept payment in cryptocurrency.

The minimum deposit amount depends on the bookmakers. On average, this is 10 USD. Money is credited to the account within a few seconds.

Suppose players are lucky enough to be able to earn money from their favorite hobby. Then they can withdraw them the same way as replenishing the deposit. The minimum withdrawal amount is from 10 to 20 USD. Money is usually credited to the account within 24 hours, but some bookmakers ask to wait up to 7 days.