The Ultimate Sports Wagering Guide

Most of you ave probably heard the term “wagering” in references to not only online casinos in Australia but also in the rest of the world. But do you actually know what the term means? Do you understand the concept of wagering and how it can be used under real-life gambling conditions? If not, this article is just what you need to understand the concept as well as learn how to make cash on it.

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But first things first., before we dive deep into the world of odd, figures, and gambling strategies, we need to clearly define the term. In this lesson, we will discuss:

  1. What is wagering?
  2. Introduction to Sports Betting.
  3. Fixed Odds Betting.
  4. Types of Sports Wager.
  5. Types of Sports Betting.
  6. Betting with a Bookmaker” guide.

Let’s get started.

Part 1 – What is Wagering?

When it comes to gambling, wagering means risky actions players take when playing against gaming companies, websites, and other organizations. The key idea is to use a future event as a purpose. The same approach is used in financial markets. Imagine a trader who has two options: to bet on the gold price increase or decrease. He actually bets on the event that is only about to occur.

The same thing is with gaming wagering with only one difference if compared to our example: people bet on various sporting events. With so many competitions, tournaments, and kinds of sports, you have myriads of options to raise money. All you need is to predict the final score or standings depending on the sports you choose.

From FIFA World Cup and soccer tournaments to football, tennis, basketball, boxing, and racing competitions – gamblers have endless potions to foresee the event results and win cash. Although wagering looks like an easy game to play, it is not. For newbies, it might be daunting, as many rookies fail to make their first profits because of lacking expertise.

To predict the result, you need to have a deep knowledge of the subject as well as side factors that may affect it in any way. Each and every detail might play a vital role: heavy rain during the soccer match, player injury, etc. The key to success is to combine all the factors, analyses them, make a prediction, and bet.

Part 2 – Introduction to Sports Betting

Sports betting comes as a pretty simple concept. We have two teams and only three possible endings: win, lose or draw. At the same time, some websites and casinos offer expanded betting options. For example, when it comes to soccer, you may choose from extra variants including players who score, yellow cards shown, penalties, etc.

The main secret here is to opt for the niche with as many options to bet on as possible. For this reason, some gamblers prefer racing or tennis with more chances and wider betting opportunities. Whatever you choose, always opt for kinds of sports you are interested in.

You will have to do much research and analytics. Experienced gamblers analyze the stats, compare ad contrast previews games and results. If you are interested in rugby, it will be easier for you to do the research and evaluate the odds.

Always keep in mind that even the deepest knowledge will never guarantee 100% success. Sports can be unpredictable. This is where fixed odds betting might be a good idea, especially for novice gamblers.

Part 3 - Fixed Odds Betting

If you want to get involved in sports wagering, fixed odds betting is the best way to get started. It is a basic concept where you have only several options to bet on. The example with two soccer teams describes the concept pretty well. As we have stated before, there are only three possible endings. Each of the team wins or loses or the play in a draw.

To make the chances even higher, you may pick an event with only two possible outcomes. For example, tennis where one of the players will definitely win or lose. The fixed odd means that you bet on the outcome that will or will not occur. The strategy of fixed odds does not consider choosing several matches at the same time, The entire idea lies beneath a single event with minimum outcomes.

In other words, your chances to win are 50/50. However, we may increase those chances with the in-depth research mentioned earlier. You know the players’ stats, you have done in-depth research, and have all the necessary data to predict the result.

Part 4 – Types of Sports Wagering

As we have stated earlier, fixed odds wagering is the primary strategy for gamblers. It is also the best bet for newbies who may be confused by a large number of outcomes and results. If you want to boost your earnings, you may appropriate other sports wagering concepts. Have a look at some popular ones you may look for in a chosen online casino in Australia:

  • Totals or over/under bets – the idea is pretty simple. You bet in a final score that is supposed to be over or under a specific rate. For example, a casino offers betting opportunities lower or under 60. of course, any soccer tea will hardly score that much. Opting for a basketball game would be a wiser idea. Official stats may come in handy. For instance, FIFA publishes official scoring stats that show up to 3 goals per game scored at maxim. You may use that info when opting for Total bets.
  • Tournament Winner – a popular strategy where you need to guess the winner of the tournament in advance. The strategy may apply to WTA and ATP tournaments as well as the Australian Open with some obvious favs including Williams and Nadal or Federer with more grand slams than other players. However, you should be ready for surprises as well.
  • Accumulator Bet – multiple bets that include several events or matches at the same time. The idea is to use several fixed odds bets. Chose the “1st team wins” in one bet and the first player to score in another. Try to be flexible.

No matter what type of wagering you choose, always use analytic and stats to predict the outcome. One will hardly argue surprises often happen especially when it comes to sports. However, you need to stay clam when evaluating a potential winner.

Part 5 – Types of Sports Betting

The types depend on the casino you choose. For example, some companies let gamblers change bets during the match providing live streaming access to the event. You watch a game and make bet corrections depending on the current situation in the pitch.

This particular type has become extremely popular. It is also known as live betting. The key benefit of live betting is that you actually track the results in real-time with no need to wait until the final whistle is blown.

Additional betting concepts include exchange betting. it is the concept of interaction between gamblers with no bookmaker to interfere with the betting process. All the odds are placed in a pool. Each gambler received fixed payouts depending on the outcome. The rest split the share of the initial stake. Such a concept mainly refers to horse or greyhound racing.

Part 6 - “Betting with a Bookmaker” Guide

The process is very simple and clear even for newbies. All you need is to go to a bookmaker or website, select the event or wager, and make a bet. However, do not rush to the first bookmaker you come across on the web. Make sure it is 100% trusted. Moreover, it should meet your requirements in terms of payment gateways and depositing methods.

Choose websites with different payment nothings for maximum flexibility. At the same time, keep an eye on the withdraw limits. Make sure there will be no stumbling blocks when it comes to getting your cash prize. Each bookmaker establishes its own terms and rights. Read them before making a deposit with real cash.

As a rule, payment gateways include:

  • Debit and credit cards.
  • Wire transfers.
  • Online payment services including PayPal, Neteller, etc.
  • Prepaid cards.

Make sure a chosen website meets your expectations to prevent difficulties in the future.

How Bookmakers Generate Profits

The more players lose their bets, the more money bookmakers make. Most of them do not charge extra fees for the betting process itself. However, some payment options might include extra commissions for the completed transaction.

Players should keep an eye on the odds updates as well. They ensure an extra handicap for bookmakers who control the odds flow and changes. All you need is to stay tuned and monitor the odds before betting.

Conclusion

Before diving deep into the sports wagering, you need to define the strategy and goals. Are you planning to bet just for fun with a chance to make cash? Do you want to use sports betting as a major source of income? Choose your way depending on the priorities.

Our website will help to implement the best tactics. Read our guides, tutorials, and articles to become an expert in the gambling industry. Stay tuned and good luck!