How to bet on sports
Watching a football match on TV can be great entertainment. If you bet some money on the game, it will be even more exciting! Betting on odds is usually about betting on the outcome of a sporting event. Football is undoubtedly the most popular sport, where especially matches in the English Premier League are something many people have strong opinions about. Sports betting is however far from exclusive to football fans. Odds on a large number of sports are on offer, such as tennis, athletics or ice hockey. Even eSports and Eurovision Song Contest are available for betting these days.
Many betting options per match
Not only are there many sporting events to choose from, there can be up to hundreds of possible bets for each event. This is especially true for football, where those days when you simply chose between Home win, Draw and Away win are long gone. Now you can bet with handicap, on correct score, number of corners, yellow cards, and which player who scores the first goal, alongside many other things.
Betting on one match or a combination of several
One of the first things you should decide on is whether you want to bet on singles or multiples. Purposeful, systematic players often prefer to bet on only one game at a time. This way, you will get smaller odds, but in return, there is a fair chance that your bet is successful. Recreational bettors often prefer to construct a multiple bet, where they combine two, three or even more matches. Naturally, it is more difficult to win when you have to be right on several matches, but the potential reward will be proportionally higher. By multiplying the odds for each game, you get the total odds for the bet. It is all about which level of risk you want to take.
Odds vs probability
On the surface, sports betting is about winning as often as possible. However, the key to success is to weigh the odds we are offered against the probability of a given outcome occurring. The goal is to find bets where the odds are greater than the probability dictates. As a sports bettor you dream about games where there is a 50 % chance that Liverpool will win, while the odds are 3/2! Since fair odds of an event occurring 50 % of the time are 1/1, we now get paid more than we should be. The more such bets you find, the more likely it is that you make a profit in the long run. While it is indeed true that we rarely know for sure what the chances are for a certain outcome, it is often possible to make an educated guess. Then you can compare with the odds, to see if you are being paid more than you should be. This is what most successful odds players do.
Betting during the game
«Live betting» is becoming increasingly popular. The idea is to bet while a sporting event is in progress, for example during the first half of a football game. If you feel that you are better at assessing the probabilities in a football match or a tennis match during the game, this is a nice option, as it provides additional opportunities for excitement and entertainment. The amount of live sports on TV and the Internet surpasses what any of us can manage to watch. Meanwhile, live betting is available for most sporting events, so it is mostly about which sport you hold the highest if you want to try a live bet!