Betting on sports is fun and often lucrative if you know how to place your bets right, but it can seem incredibly overwhelming if you are new to it, and if you are unfamiliar with the rules and conditions that apply. Luckily, it isn’t as complicated as it seems, and all you need’s a little guidance to get started. We’ve got you covered.
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Introduction
For those who are only starting to consider placing a few bets on sports odds, you probably want to take a moment and make sure you know what you are doing. Sports betting is different from regular casino play, and in a way, it is all about making qualified guesses for a certain outcome of a game or sporting event.
If you have absolutely no idea what you are doing, then your guess would have to be incredibly good and you would need to get lucky. In other words, random guesses rarely pay off when you bet on sports. Instead, you need to understand how odds work, and take certain betting conditions into consideration.
How likely is it that a certain thing will happen? How sure are you that it will? These things control how much you could benefit from placing your bets, and also the whether it is worth placing a specific bet. The betting conditions change depending on a variety of factors, such as how well a player has done in the past, the predicted weather conditions and more.
Before continuing to read on about sports betting conditions, make sure to read our introduction to Sports Betting where we cover all the basics!
How Calculations are Made
You might have wondered how it works when betting odds are set? Who decides them, and how? Odds are set by a bookmaker who uses a list of perimeters to calculate the probability of something happening (or not happening), and risks are assessed to produce an estimated outcome for players to bet on.
Lines and odds are set with the use of mathematical calculations and analytics, and some sportsbooks may also base their betting lines and odds on those of other reputable gambling sites, as the internet has made it easier to gain access to reliable predictions.
An interesting fact is that small and often unpredictable details can have a big effect on the odds. Let’s say a tennis match will be played when it rains, and one tennis player is considered the best in the world. If it rains on the day of the match, then the top player might not be as good as he or she would have been if the weather was sunny.
That’s not all! Calculations to produce odds are based on how a team or an individual player has performed in the past and how they are expected to perform based on the circumstances of the game or event. The conditions and circumstances can change and therefore change the odds.
Sportsbooks and Odds
Once you start looking into sports betting, it becomes impossible to miss that most sports sites have very similar odds on things like football matches and tennis games, but this isn’t too strange when it comes down to it. Experts use the same betting conditions to determine the odds of a prediction, and it is to be expected that most bets across sites are similar.
However, it can be hard to determine when a gambling site has actually set their own odds and when they have used other sportsbooks as inspiration. You see, sportsbooks can save a lot of money by checking out the competition and using their findings as a base for their own bets, and it is a very common practice.
If you want to be sure that your preferred betting site offers unique odds, then the only real way is to choose to bet on unique betting opportunities. If a site, for example, offers bets on a sport you have been struggling to find elsewhere or on a TV series or something else that would be considered unexpected, then chances are they generated the odds themselves based on their own calculations only.
7 Betting Rules
To further understand how online betting works and how betting conditions come into play, we are going to have a look at some important betting rules. Some of these are very obvious and rules you might already be aware of, while others may seem somewhat more foreign and surprising.
One thing you might not know is that sportsbooks can make mistakes when listing odds or prices, but it is always corrected accordingly. Whenever a mistake is detected, all placed bets are voided and players get their money back. This isn’t a bad thing and shouldn’t be seen as a sign of an unreliable betting site, as it is quite the opposite! You want to bet at online casinos and sportsbooks that take responsibility for their blunders.
It is very important that a game is played when it’s supposed to, because if it is rescheduled or moved to a different day or time, this also means that the circumstances that could affect the outcome changes. If this happens, then the sportsbook needs to recalculate the existing odds and start over.
This might come as no surprise, but it is usually important that all bets are placed before the start of a sports event. The betting business is built on fairness and fair odds, and placing bets after the initiation of a game, one could be at an advantage. For this reason, if a bet is placed later than the moment a game starts, then it is automatically voided.
It doesn’t matter where you play or where you place your bets, as all sportsbooks and gambling sites require their players to be of legal gambling age. This refers to the legal gambling age where you are located, which in most cases is 18.
Betting sites are just like any online casino, and you need to have completed the verification process before you can withdraw winnings. You may be able to deposit, place bets and win, but the sportsbook needs to verify that you are who you say you are before they can release your funds, as this is required to comply with certain gambling rules, laws and regulations.
Professional betting sites are protected by sophisticated SSL encryption and the latest online security technology, to make sure your personal information and payment details are always safe. However, sportsbooks are not responsible for you losing your login information or revealing your password to someone you know, and it is essential that you also take responsibility when betting on the internet.
Don’t forget that once a sportsbook confirms your wager, you can’t suddenly decide to back out or cancel your bet. The best thing you can do is to be absolutely sure of what you want to do before you do it, so that you don’t act on impulse and bet on something you didn’t think through properly.
Basics of Sports Betting
Everything is linked in sports betting, and this includes the betting conditions and the different types of bets you can place. It is somewhat complex and it can take some time to get into it, but we wanted to give you a head’s start by offering a quick introduction.
Two or more betting wagers are required to place a Parlay bet, and it works to “link” these in order to boost a potential win. If you win, you win a much bigger amount than what separate bets on the wagers would have given you, but the catch is that if you lose on one wager, you lose your entire bet. You need to win all wagers to cash in on a Parlay bet.
Proposition bets are bets you often find on popular or highly anticipated sports games, and here it is all about the outcome, yet there are different things you can bet on. A good example of a prop bet is who will make the first goal in a game of football or the first touchdown in American football.
These types of bets are exactly what they sound like, as they are very straight-forward. When you bet on only one wager (individual), then you are placing a straight bet.
The name indicates its meaning here too, and when you place a Futures bet, you are betting on a game or sports event that is still far away (in the future). You might be betting on the team that will win in a tournament the following year or on the outcome of a championship that is still months away..
If Parlay bets are when you have two or more wagers, then a Round Robin bet is when you are betting on multiple Parlay bets simultaneously.
Conclusion
Betting conditions are what determines the odds, which in turn affects the bets, betting lines and prices, as well as what you can expect to find when you start gambling at a sports site. The term “it’s not rocket science” does not apply here, as working out odds is a very complex job and something most betting sites don’t give out too much information about.
If everyone knew how to do it, then there wouldn’t be a need for betting sites at all, so you can count on the fact that no betting company is going to reveal all their secrets and methods when using betting conditions to determine the odds.
You don’t need to be an expert to bet on sports, but the more you know and the more you understand, the easier it becomes to make smart choices and to place your wagers in a way that benefits you and your finances. Understanding how betting conditions work is inevitably included in this.
FAQ
It is generally a good idea to start with simple bets and wagers that are easy to understand, and to work your way up from there. Consider starting with bets on the spread, moneyline, or perhaps some over/under bets, as these are very straight forward. Save options like Parlay bets to when you feel a bit more comfortable in your understanding of sports betting.
Pleasers, Parlays and Teasers are considered very risky bets, but they can also generate a very high payout. It is best to leave these types of bets to more experienced players, as they will have a higher chance to get it right and win.
Technically no, as someone else is already using the betting conditions to generate odds, but the best thing you can do for yourself is to fully emerge yourself in sports betting. Learn the conditions that go into generating odds, and make sure you are a step ahead when it is time to place your bets.
Without paying attention to the betting conditions, it would become almost impossible to generate likely predictions for a game, and then there wouldn’t be any odds for you to bet on.
A straight bet is the most basic type of bet where you bet only one wager, without complicating things. It can be compared to more complex bets like Parlay bets, and it is a great type of bet to start with when you are a beginner.
No, you don’t need to be an expert and it is never too late to start betting on sports. However, the more knowledge you have, the better choices you’ll be able to make when it is time to place your bets.
You don’t have to love sports to play on sports, and there are many gamblers who simply enjoy the thrill of betting, yet they have little to no interest in the actual sport. Also, keep in mind that many betting sites also have non-sport betting options available for their players.
There is no good answer to this question as every player has their own preferences. Choose a sport you are interested in or one you think you have enough knowledge about in order to place smart bets.
