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Now you need to decide what to place your bets on. Firstly, you need to choose the sport and then you need to decide which part of that sport you want to place your bets on. For example, if someone chooses football, the person needs to decide whether to place the bets on ‘who wins’, ‘who scores first’, or ‘how many corners a team will have in a half’.
Let’s say there is a match going between a lower-table team and a highly placed team. The probability of a lower team winning is obviously very low, so the odds against them winning are very high. As a result, the rate for the lower team winning is very high. Now, if a person places his bet on the lower team and the lower team wins, he earns a very hefty amount on his bet. This all sounds wonderful, as long as such situations keep on happening. However, how often do we see a top team losing to a lower one?
If the bets are placed on ‘who scores first’, more likely than not, the top team scores first. So placing a bet on them scoring yields a very low amount. Placing the bet on the lower team, however, gives back a big amount on investment. The most logical bets are, however, placed on ‘how many corners’. This requires statistical knowledge of the teams involved. If a bet is placed on a team getting 4 corners in a half, placing your bet on a top team will most likely win you money, because a top team will attack more frequently and thus get more corners. This will ensure a knowledgeable better, who is well versed with the recent statistics of the team, to win regularly.
The best thing about the betting sites is that the better can cash out at any time. If the better feels that he/she is happy with what he is getting at cash out, or if the bet is too risky to carry on any further, the cash out option takes care of that. So, a person is assured of lower risks and a greater chance of recovering the money that was invested.
How to Bet on Sports
Betting on sports is done for the thrill of the game and to make money. While betting on sports can seem almost impossible, especially in today’s competitive world, it is actually fairly simple. First, you will need to understand the basics of what types of bets are placed. Second, you will need to find a local, or online sportsbook to bet at. Finally, if traditional gambling doesn’t suit you, you can always set up your own fantasy sport’s league. Once you learn the fundamentals, you will be on your way to gambling on sports in no time!
Bet on point spreads. Point spreads help to balance out the odds of each team winning. When people bet on point spreads, they usually talk about (+3.5), (-7.5), (+4), etc. This is how many points are added or subtracted from a team’s final score. Take, for example, the Chicago Bears (+5) and the Green Bay Packers (-5) are playing each other this Sunday. The Bears are less likely to win, so 5 points are added to their final score.
Place a bet on the money spread. This is a very simple method. You are betting on who will win the game outright. If you think the Chicago Cubs will beat the Pittsburgh Pirates, you will bet on them, and vice versa. The key here is to look at the point spread of the game. If the Chicago Cubs are given a large point spread (-5) then they are seen as more likely to win. If the spreads are pretty even (-0.5)(+0.5) then the game is largely seen as a 50/50 matchup.
Put your money down on the totals. Totals is commonly referred to as the over/under. This is where the betting organization will give you a number (9), (4), (10), (175), etc. The number they give you represents the total number of points scored by both teams combined. You have to place a bet as to whether or not the teams combined will score below or above that number.
Take decimal odds into account. Beside every point spread, money spread, and total (over/under) is a number in decimal form. Decimal odds are always written as positive numbers, never negative. For example, next to the New England Patriots point spread (-8.5) is a decimal figure of 2.798. Then imagine that you bet 0.1 bitcoins (BTC) on the the Patriots point spread that week on an online website. Multiply the bitcoins you bet by the decimal figure, and that is how many bitcoins you will win, if you betted correctly.
Use American odds. Next to every decimal odds number is either a positive or negative number in parentheses. If the number is positive, this is how much much money you will make on a standard 100 bitcoin stake win. For example, American odds are (+170) for the money spread on the Miami Marlins this week. This means that for every 100 bitcoin stake, you will receive 170 bitcoins back. If you put up 0.1 bitcoins as your stake, you will get 0.17 bitcoins back.