Sports betting is a popular online activity which involves placing a wager on the result of any sporting event. Ancient texts like Mahabharata gives us a reference to betting where king Yudhishthira loses everything including his kingdom, his property including his wife when he loses to a game of dice. Betting had been popular even in the past as it is popular in present times. Usually, online bets are placed on football,  basketball, track cycling, car racing, hockey, cricket,  basketball, boxing, and even mixed martial arts. Betting on horse racing is considered a privilege of the elite and is quite a celebration both in the west as it is in the east. Racecourses around the world have witnessed many people gaining fortunes and many losing everything with sbowin.  Many non-human sports also witness betting especially greyhound racing and cockfighting.

A bookmaker or sportsbook is a person through whom the sports bettor place their wagers. The bookmakers allocate a spread or a line which is essentially a number where one team or player is made a favourite to win while the other team or player is perceived to lose. Thus with sbowin the team or player likely to win takes point and the weaker team or player is the underdog who gives point. Many times a bettor can increase his chances of gaining better gain by increasing his number of bets on his favoured team.

Sports Betting

Some terms related to Sports betting:

Three Dominant System                                                                  

  • Pari-Mutuell wagering
  • Fixed-odds wagering
  • Exchange wagering                                                                                                            

Types of Fixed Odds Wager

  • Fractional Odds
  • Points Spread
  • Parlays
  • In-game Betting
  • Proposition Bets

Types of Sports betting

  • Straight Bets – Most popular in sports like basketball and football. A point spread is set where the bettor can either place a bet on the underdog and gain points or else give up the points when a bet is placed on the favourite team. However, there is no money lost or gain in a situation of ties called “push”.
  • Total Line Bets – Very popular form of betting. Based on the final score a number is set. A bettor can place a bet under or over that score.
  • Money Line Bets – Prevalent for sports like hockey and baseball. Your betting risks that amount you have to pay upfront to pick the favourite against the amount you can make if you pick the underdog.
  • Parlay Bets – Meant for the people who can take huge risks. Parlay refers to grouping together two or more picks into a single bet.
  • Head to head bets – Not meant for the team’s performance. The most prevalent way is to bet on the head to head results between two competitors.

Thus Sports Betting though very popular can easily be said to be the reason for creating many scandals in the sports world.