Sportsí betting is all about prediction. Predicting the outcome of a sports result and making a wager to back your prediction.
Sportsí betting is as such not a new concept. Betting on sports in some form or the other has been around for a long time. For instance gambling used to be a longtime tradition in England and this tradition was brought on to the United States of America by the colonists. The colonists are known to have wagered on fighting, horse racing and even cockfighting. In the 1800ís the sport of choice among gamblers used to primarily be horseracing. Boxing too was popular but to a lesser extent.
Gradually, the popularity of baseball as a game increased and so did baseball betting. Now sports betting is popular and practiced by most sports enthusiasts in games like football, baseball, hockey cricket etc.
There is a difference of opinion and acceptance among different nations with regards to sports betting. People, who propagate legalized sports betting, are of the opinion that sportsí betting is nothing but a hobby for sports enthusiasts that increases their interests in a particular sporting event. According to them this benefits the leagues, sportsmen and the sporting teams as this in turn results in higher attendance at sporting events and increased viewer-ship of television audiences.
Opponents to this view are of the opinion that gambling or betting on a sporting event threatens the integrity of the sport, which in turn might lead to attempts by sports gamblers to fix matches. This accusation of theirs is not totally baseless because this has been known to happen in various sports in the past.
One can bet on sports in various forms. The most basic form of sport betting being the casual wager among friends about the winning of ones favorite team. But professional sport betting is usually done through a bookmaker. Legal sports bookmakers are found all around the world. In places where sportsí betting is not legal people usually take the help of illicit bookmakers also known as bookies, to make their wagers. Internet has also become a popular medium where thousands of online bookies accept wagers for sporting events all around the world.
There are basically two forms of wagers offered by the bookmakers on the winner of a sporting event. Firstly, a straight up or a money line bet, these are used to set odds on sports such as association football, baseball hockey etc along with individual vs. individual events like boxing.
The second form of wagers offered by bookies is the Point Spread Wager or the Money line wager; this requires only the team wagered upon to win the match.
These are the basic forms of betting, besides them bookmakers offer several alternative bets also for example:
The Proposition Bets: These are more specific wagers regarding the outcome of a particular sporting event. Like guessing the number of goals that each team would score in a football match, or how many hits a baseball player would accumulate as compared to members of the opposing team, so on and so forth.
The Parlays: These are multiple bets, which result in successful bettors getting a large payout. For example a bettor could include 5 different wagers on a 5-team parley.
Here the bettor takes on a serious gamble in the sense that if any of the 5 bets fail to cover, he looses it all, but if all the bets win he receives a substantially higher payout.
Some more forms of betting available for sports betters are Teasers, Run Line Puck Line or Goal Line bets, Future wagers etc.