What is Betting?
A a form of gambling that involves staking money on the outcome of a race, game, or other unpredictable events. In sports betting, one could stake on the final outcome of the game, the players to score, get sent off or shown warning cards (that is yellow card). Gambling in all it’s forms features a stake, risk and a prize.
Below are some sports you can bet on.
- American Football
- Aussie Rules
- Formula 1
- Horse Racing
- MMA / UFC
- Table Tennis
Betting in Football
Football (or soccer) has always been closely associated with the gambling industry and it’s hard to determine a time when the connection was first formed. It was in the 1960s, however, when gambling was legalized, that the relationship between betting and football really took off and made a noteworthy appearance.
Do people really make money from sports betting?
Yes, people make money from sports betting and other kinds of betting but keep in mind that they also lose money too. Punters take lots of risks and are sometimes rewarded for their risky investments when their predictions are correct. If you are interested in making money via sports betting, you should have a background knowledge of the individual capabilities of the teams you’re placing your money on. You should also keep in mind that their could be upsets.
Getting started with sports betting
Before you can start placing bets, you need to do these three things.
- Choose your preferred betting platform and register/sign up for your betting account. It is recommended to read the terms and conditions before signing up. If you don’t know which betting platform to sign up to, a list of some of the most popular bookmakers out there depending on your location are included below.
- After creating your account, you maybe asked to verify your account and identity.
- Add money to your betting wallet. This is the money with which you’d place bets.
List of Popular betting sites in the UK, USA, Nigeria and South Africa
Best sports betting sites in the UK
- Paddy Power
- Pari Match
Best sports betting sites in the US
- Caesars Sportsbook
- FanDuel Sportsbook
- Unibet Sportsbook
- FOX Bet
Best sports betting sites in Nigeria are
- Winners Golden Bet
Best sports betting sites in South Africa
- World Sports Betting
How to place bets
Now that you’re all set, proceed to place bets. You can begin with easy-peasy ones. That is the less risky ones. Less likely outcomes usually have higher odds while the more likely outcomes have low odds. Note: Odds are used as multipliers for your stake in accumulators. The method of placing bets on different betting sites may differ slightly but all involve the same process. After selecting your picks, type in the amount of money that you’re willing to stake for this particular bet slip and confirm your bet. You may choose to peruse your bet before confirming. Check back after the games have been played to know the outcome of your bets. Good luck 🤞
Betting Terms every punter should know
Accumulator – Accumulator betting is a single bet made up of multiple selections. All selections must win for the bet to be successful. Asian Handicap – A type of handicap betting popular in Asia. This type of betting aims to level the playing field in games with mismatched teams. Teams are thus handicapped based on their perceived abilities. Bet – A prediction of an outcome with a stake attached to its success or failure. Money is almost always the stake in legitimate betting. Bet Slip – When you place a bet, all the information about that bet is stored here. This should automatically calculate the returns of all your selections. Betting Odds – An expression of the implied probability of an outcome, according to the bookmaker in question. Also known as ‘prices’, they are also used to calculate bet returns. Bookmakers – The operator who your bets are set against, they provide the markets and odds for you to choose from. It’s also where you get your money if you are successful. Also referred to as ‘bookies’ for short.
Example: bet365, William Hill and Ladbrokes are all bookmakers.
Booking Points – A type of market based on how many red and yellow cards are shown during a game. Usually a football-based market.
Example: Sky gives 10 points for each yellow card and 25 points for a red card. So, if you had a plus 30 booking points market, one of each would be enough for you to win.
Both Teams to Score – This market sees you win if both teams score by the end of 90 minutes. The winner of the game is irrelevant to this market. Both Teams To Score & Win – A common double bet. Here, you would need both teams to score and for the team you have backed to win the game for your bet to be successful. Cash Out – A real-time tool which allows you to cash out a bet before that market has ended. Partial cash outs, where you only cash out a percentage of your bet, and automatic cash outs, where your bet is cashed out when the offer hits a certain amount, are also available.