Those who are new to the world of sports betting will find it a simple but rewarding. The whole point of sports handicapping is to predict the right outcome of a sports game and wager a certain amount of money according to what you think the results will be. If you're right, you win and if you're wrong, you lose money; it's seemingly simple.
But there are a few technicalities to sports betting; knowing will can greatly increase your odds of winning more and losing less. Having a basic understanding of how the world of sport betting operates can help you experience favorable outcomes.
You're putting your hard-earned money at risk so it is important that you know what the basics are. Here is a beginner's guide on a few important subjects.
What is a Fixed Odds Betting?
A fixed odd betting is basically how traditional sports handicapping work. It is when you predict one outcome of the game and then wager money according to it. The term "fixed odds" here denotes that the odds are agreed upon, or fixed, at the time a wager is placed. And in case the wager wins, the payout of the wager will be according to those fixed odds.
Sport handicapping revolves around these basic components:
Parties in a Wager
In sports handicapping, there are always two parties involved in a sports wager. Each is naturally in opposition to one another. It could be two friends betting on a game, but on a bigger level, it is between the bettor (i.e. you) and the bookmaker. The bettor will place the wager while the bookmaker takes it. This is also commonly known as laying a wager.
Selection
Selection, as the name states, is the process in which the bettor selects what he's going to bet on. For example in a game of Patriots vs. the Buffalo Bills, you can place a wager on the Patriots winning. This selection would then be called as "Patriots to Win."
Stake
What's at stake? The amount of money, of course! So, the stake refers to as the money that is being placed on a wager. The required amount is paid to the bookmaker at the time of the wager being laid. If you win it, you will be returned the amount in addition to the winnings. Usually, there is a certain amount placed at stake, known as minimum stake.
Odds
Bettors are offered odds for available selections. These odds will determine the amount a bookmaker must pay in relation to the stake placed by the bettor, if the relevant selection turns out to be correct. If the selection is unlikely, then the odds are high; and if the selection you make is likely to be accurate, the odds are low.
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