The betting industry has grown alongside both the web and mobile connectivity through smartphones and tablets. This has made placing bets as easy as logging into a customer account online and clicking a single button. Payouts into accounts are just as easy. This intuitive use and ease have ensured a massive expansion of betting into many sports, even those that have been traditionally neglected by bookies and gamblers.
This growth has also had some unintended consequences, including amplifying social and domestic problems and placing micro-betting at the center of corruption in some sports like Cricket. Despite these issues, betting remains a hugely popular activity and is mostly enjoyed responsibly by the participants.
Different Kinds of Bets
If you’re new to football betting or any other type of sports betting, it’s likely that you won’t have heard of the many types of betting available to you through both bookmakers and betting agencies. Here’s a quick checklist of some betting types:
- Against the spread
- Matched betting (back betting, double betting, or lay bet matching)
- Accumulator betting (parlay or combo betting)
- Money line
Of these, Against the Spread and Money Line are the most popular, with Accumulator betting and Teases considered the types to avoid.
What Else Should I Know?
Even though something like football betting seems as easy as creating an account with an online betting agency and going with the most popular type of bet, that’s not all there is to it. If you’re going to bet, you’ll need to have at least a competent understanding of numeracy.
Betting is about odds, and it’s necessary to understand how it works in order to know what you stand to both win and lose in your bet. It will also tell you how likely it is that a certain team will win, as determined by the betting agency. Other types of bets are based on mathematical equations, so you’ll need to at least find an online calculator or another website to understand your chances of winning and losing.
Apart from a mathematical understanding of probability, it’s obviously wise to have a good understanding of the event itself. For example, if you’re into football betting you’ll need to understand how the game works and how likely it is that one team will win over the other and by how much. This knowledge will enable you to get the most out of sports betting.