Sports betting has been a big part of sports since the dawn of sports themselves. The attraction of betting on sports is hard to overcome for some, and others, don’t even see the point in it!
In the United States, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a betting, gambling or wagering scheme in most of the States that make up the United States. The States that are exempt are Delaware, Nevada, Montana and Oregon. However, although these four states allow gambling, only Nevada and Delaware allow sport betting diu win.
Sport betting generally increases people’s interest in sports, although some people fear that sports gambling threatens the integrity of sport.
The sports betting odds are presented either in decimal odds, fractional odds or moneyline odds. Decimal odds are favored in Canada, Australia and continental Europe. Fractional odds are favored by bookmakers in the United Kingdom, and Moneyline odds are favored in the United States.
Some people make a decent living out of sports betting by utilizing information on the sports they are betting on.
Sport betting is most commonly done through a bookmaker, legal sports bookmakers exist in many places, but in areas where sports betting is illegal, bettors usually make their sports wagers with either illicit bookmakers, commonly known as bookies or on the Internet.
Online bookmakers generally operate outside of the United States. Some online bookmakers do not accept wagers from the United States thought, due to unresolved legal questions.
The bookmaker makes a living by charging a commission, or a vigorish. The bookmaker does this by guaranteeing that the odds for both outcomes of the sport come slightly less to breaking even.
Alternative Bets include:
Future wagers – are long-term bets made, e.g. a bet that a certain Major League Baseball team will will the World Series.
Head to head – These bets are placed when competing for one or two sportsmen to out beat another.
Parlays – A parlay involves multiple bets, and if won, the bettor would win a much larger payout.
Proposition bets – These are specific bets, like guessing the number of runs in a baseball game.
Teasers – A teaser allows the bettor to combine his bets on two or more different games.
Arbitrage Betting – Arbitrage betting is a betting technique that can land some high payouts. It is most common on Internet gambling. Because of how lines move quickly during sporting events, this type of sport betting is possible. Theoretically, a small profit of 1-3% is possible when a person bets one way at a shop and the opposite way at a second shop.