If you are a fan of sports betting you can do this in numerous ways. There are many different ways of betting possible such as on the winner of a particular match or on the outcome and these are just a few examples.
Depending on the bet you place, the stakes can vary but also the possible winnings can be very diverse. The smaller the chance that you will win something with a particular bet, the larger the amount of money that will be involved.
Various ways to gamble on sporting events
If you’re not that familiar with the various ways you can gamble, it’s helpful to know exactly how they work. We’ve listed the three most common ways so you can see the main differences between them. Here the following three are distinguished: American gambling, English gambling and European gambling.
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Gambling the American way
American gambling is also known as money line odds. Here the favorites for certain matches or races are marked with a symbol so that it is clear that they are considered for the final victory. The symbol consists of a minus sign (-), which is followed by a number. The higher the number, the greater the chance of winning. There is always an underdog (or even more) participating in every match so you can bet on that too. The underdog gets a plus (+) behind his or her name. The larger the subsequent number, the more you can win with it.
Example to make it clear
If you find it a bit difficult to understand in this way, read through the following example. Let’s assume a tennis match between the great men Nadal and Federer. Nadal is assigned the following odds: -120 and Federer is given +130 after his name. This means that Nadal is the favorite for the final victory in this tennis match while Federer is the underdog who is expected to lose.
What can you win?
If you want to bet on the favorite for the win then this means you need to bet 120 to win 100 more. If Nadal wins the match, you get your stake back as well as the corresponding profit. If he loses, you lose your bet entirely. If you think the underdog has a chance you bet on him. To win 130 you bet 100 on Federer. If he wins then you get an additional 130 in addition to the original bet. If he loses, of course, you also lose your stake.
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Gambling the English way
English gambling, also known as fractional or British gambling, is often used in horse racing. The betting odds should be read as (how much you win)/(how much you bet). If we look again at a match between the tennis players Nadal and Federer, this means the following. Suppose the odds are as follows: Nadal -4/6 and Federer -6/5. This means that if you bet on Nadal, for example, you bet 100 and should he win, you can win 150 with that. If you bet on Federer, for example, you bet 150 and you can make a profit of 125 with that.
Gambling on his European
The last type of betting is known as European or decimal betting. This way is very popular and is mainly used in Europe, Australia and Canada. The system is quite simple and easy to understand for both the bettors and the bookies who can arrange the bet for you. Now let’s look again at the tennis players Nadal and Federer.
Nadal is the favorite for the win and he gets a decimal bet of – 1.5 behind his name. The underdog Federer is given – 2.25. If Nadal wins the match it simply means that your bet is multiplied by 1.5. For example, if you bet 100 and the Spaniard wins then you will be paid 150. The profit then amounts to 50 because your stake must of course be deducted.
Example for a tennis match
Are you still a fan of the Swiss Federer? If so, it means that if he wins, you will be paid 2.25 times your stake. Again, subtract the stake, of course. If you bet 100, you’ll win 225 and the final profit will be 125. You’ll see that betting on the underdog pays off, but the chance of him actually winning is less high, although certainly not impossible, because in this sport, as in any sport, the ball can roll in strange ways. Even literally in tennis.
Choose the way you like the most
If one way of gambling appeals more to you than another, always check what’s possible. Not every online casino or bookmaker offers all the different ways to gamble, so pick the one that appeals to you and you’re happy with. This way you too can place a bet on a sporting event or on your favorite team or sportsman. Before you start betting, however, make sure you know a little about the sport or familiarize yourself with it. Learn the rules, but also take note of the participants and check the odds against their opponents.