Where can you do it? What sports can you bet on?
Have you ever asked yourself those questions? This article will answer them, giving a little insight.
Let us take a look at the kind of sports you can bet on. This mostly depends on where you live, or better said, where you want to bet. Generally, you can do it with pretty much anything.
What comes to mind first?
The classic probably is horse racing, because everyone probably thinks about it at first. Actually, you can also bet on just about any other popular sport, including (but not limited to) baseball, basketball, football, soccer… The list goes on and on.
What are sportsbooks?
An interesting thing to know is that while you can place any kind of bet you want on any event around the world, in the United States you will only be able to bet on so called “sportsbooks”.
Sometimes called “books” for short, they are places where you can wager on many different sport competitions.
Is it a good idea to use online sportsbooks?
Another way to bet on sport events is to do it online. This can be especially interesting since you can look for sites that have a certain focus on different types of events, and place your bets on anything you want, even if you are US based. This is technically in a legal grey area but the law is not enforced as much.
According to a report by BitcoinReviewer.com, the latest trend in sportsbooks is using the Bitcoin currency for betting. It uses an advanced payment network that will let you participate even while a match is going on. Bookmakers like Bovada are still lagging behind when it comes to Bitcoin but some smart companies have already started.
Huge advantages of online betting are for example that you can place a bet at any time you want, you can get your bets in easier and of course you can bet on pretty much anything imaginable.
The odds are dependent on the type of the game. it is important to always read the rules of the sportsbook before placing your bet, because there are some differences between what is considered official by the sportsbook and the league.
Winning bets are paid out at the end of an event. If the event is not finished, they are paid out if the event is played out long enough to be considered official, otherwise, all bets will be returned.
Different books also give you different odds on different outcomes that you can bet on and potentially win. Most of the US sportsbooks are in Nevada and share the same parent company, meaning you will be offered the same wagering choices and odds for your bets, so “looking for better prices” will most likely not be the way to go.
In the below video, you can see what Bill Walters, a bettor in Nevada, has to say about this exciting activity.
One major difference between Sports Betting and gambling in casinos is that the win probabilities in Sports Betting are only estimated.
You can go into a casino and you will know that the house has the advantage. In contrast to that, in sports betting your own patience, knowledge and research can give you an edge over others. Just like you, the bookmakers are also just guessing the probability of different game outcomes. That means, while the bookmakers on average provide accurate odds, you can certainly make a big profit if you find a good niche!