Sports betting is a game for the smart better as it is not a game with a fixed house edge where a casino is raking off fixed percentage. Similar to poker, sports betting and live betting requires more skill than luck. Whilst it is not guaranteed that you win every time, a skilled gambler has a huge advantage over the leisure gambler. Before we go into more detail you will need to understand how sports betting works. We will take a look at football, so you can bet your money on your favourite team Liverpool.
If you are already watching your favourite team, we bet that making a bet for them to win would increase the excitement. Sports Betting in the United Kingdom is big business today and with options of betting on almost anything from football to tennis and cricket the options are endless!
The UK has adopted a fairly relaxed policy when it comes to Sports Betting. Whereas the casino and gambling industry in some countries is illegal it is just heavily regulated in the UK. The main concerns for the government seems to be those less desirable effects of sports betting such as match fixing etc. However some restrictions are placed on sports betting such as anyone directly involved with the game is not allowed to place bets on the outcome.
The way the sports betting odds work is based on the expectation of the sports team. If a team is expected to lose, you will get odds to match the risk involved. This would mean that a winning bet of £10 with 4/1 odds returns you £40 in profit. On the other hand, bet on the favourite to win and you will have to wager more than an expected win. For example odds of 1/4 pay £10 for every £40 betted.
Betting on the outcome of a single sporting event and multiple sporting bets are popular in the UK. Multiple sports bets is a single wager tied to several sporting events. Typically all wagers must win for you to win the multiple bet. A single loss voids the entire bet and you lose. Betting pools are also a popular sporting bet. This can usually be done with a number of people (such as friends or associates). For this method numerous bets are placed and the winnings are divided among the contributors of the group. Usually the book maker will take a transaction fee as a service change for pools.
Sports betting can be done on an online site or a land casino or sports bookmaker. There are many legal ways to place bets, the easiest is to place your bets in the comfort of your own home via your computer and the internet. However if you prefer company there are plenty of land based casinos and sports betting venues around.
Remember to decide how much you want to bet beforehand and decide to stop when you have spent what you decided to spend. We wish you all the best of luck, may you win and have a lot of fun along the way.