concepts in betting

Basic concepts in betting

Sporting events can have several outcomes because it is a betting subject. And for many people today, betting on sports is a pastime. For others it is a hobby, while others use the knowledge they have gained to make money in this field.

At the moment there are two options for placing bets. The first one is the classic one which means betting at a land-based betting shop. In fact, we can say that it is a simple shop where you can do everything. And the second option is the World Wide Web, where you have to register on the bookmaker’s official website, get verified and make a deposit.

Either way, it will be a contract between the player and the bookmaker for a particular match. And if the player guesses the outcome of the match, the BK will pay a certain amount of money, depending on the odds and the size of the bet.

Line

In a BK, the line is a list of sports matches with specific odds tied to different outcomes. The odds can change from the time they appear in the line up to the start of the match.

Different betting companies differ in their coverage, spreads as well as the odds. That is, the user himself can compare options without leaving home, and determine the best one for himself.

Basic Principles and Concepts in Betting

Types of bets

At the moment, betting is divided according to criteria:

  1. Time. The bettor can place a bet before the start of the match, or during the event.
  2. Number of events. There are express, single and system.
  3. Time frame. A bet can be a short-term bet, i.e. an event which can take place in the nearest future. Or it can be a long term bet, such as an event which will be determined at the end of the tournament. For example who will win the Champions’ League cup.

More details about the number of events:

  1. A single bet is a bet on just one event. If the prediction of the bettor is the same as the final result, the bettor will receive the payout. It is as simple as that.
  2. A Parlay. This type of bet includes several events. And if all the outcomes are the same, the bettor also gets the payout. But the amount depends on the size of the bet and the odds on the outcomes, which are multiplied between each other.
  3. System is a whole combination of expresses. Here the conditions change, thus also the possibilities for winning. In some cases it is possible to receive a payout even if several matches from the system are not played. The amount is determined in the same way as with a multi.