For someone new to betting, the processes and structures involved can initially appear to be very complex. There is much to consider when placing a bet: odds, bet type, and increasingly wider variety of market to choose from. Even when placing a straightforward single bet, the bettor is encouraged to weigh form and odds on offer in order to make a more informed choice. And the uncertainty of outcomes make it even more complex.
Overall, betting can be complicated, but its intricacies present itself as greater challenge for bettors to win this game of chance. More informed bettors strike a balance between leisure and investment, as they learn to value their funds to keep pace with today’s ever changing sports betting landscape.
Pros and Cons
Betting on sports has always been an alluring prospect, for obvious reasons, but since the advent of the Internet, it has surged hugely in popularity. The ease of accessibility to bookmakers’ websites via phones and computers has become increasingly interesting for bettors, making it extremely easy for everyone to bet anywhere and in any way they like.
Sports betting, regardless of its popularity, still carries a stigma, including addiction and loss of income or finances. This is the reason why it remains illegal in every state in America, except from Nevada. In Europe and Asia, however, sports betting continues to grow in popularity and there’s no sign of this slowing down.
The Ever Improving Landscape
Over the past century, the number of sports, which bookmakers have accepted wagers, has developed dramatically. Horse racing, football, baseball, and American football are some of the most favored sports in the sports betting world. Sports betting has risen to prominence which resulted to further betting opportunities on a wider array of sports. The results are evident in offers from major bookmakers, though.
It is now possible to place a bet, for example, on the Asian handicap of a volleyball game that is taking place in Turkey at the click of a button. This conveys how sharply the sports betting landscape has changed and how effectively the Internet has augmented the options that are convenient for bettors.
The Betting Process: Asian vs European
The process of placing a bet on a sports event is established by using a bookmaker who opens a book on a market or event. The bookmaker will offer odds to the bettor on the different participants or outcomes of a particular event and the odds will vary according to likeliness of one outcome to the other.
In Europe, there are a diverse amount of bookmakers, and as a result, odds are highly competitive. Asian bookmakers are slightly different, however, as they are using Asian handicap as the foremost type of bet and that of agents and the pyramid system, which differentiate the Asian market from its European counterpart.
Furthermore, the odds are presented as fractions in Europe; whereas, the decimal system is preferred in Asia. This has little significance, though, as it does not affect possible winnings. It is simply a matter of display or what the bookmakers consider more comfortable for their clientele to use (e.g. Europe, or more specifically England, has always used fraction odds while the decimal system is prominent in Asia).
Football’s global appeal and support earns its name as the most popular sports for bettors. Bookmakers provide the widest assortment of markets for football betting and there are games being played all over the world—meaning, a football betting opportunity is almost always available.
An increasingly favored form of football betting which has risen to popularity, specifically in Europe, is the ‘accumulator’ bet. With such a high volume games being played on weekends, bettors will generally select five or more teams to either win, lose or draw in their respective matches. As the bet requires five or more selections to be correct the potential returns can be very high for a small stake.
Asian bookmakers place more emphasis on the Asian handicap bet type which eliminates the draw as it requires the bettor to select one team or participant to win by a certain margin for the bet to be successful. The Asian handicap is an enticing prospect in sports betting because, in theory, it provides the bettor with a greater chance of success.
Although Asian handicap remains an extremely popular bet, there are numerous other types of bet that are available when betting on sports. The Under/Over bet requires the bettor to predict the occurrence of an incident during a sports event. For example, will there be over or under nine yellow cards in the game between Arsenal and Manchester United. The Under/Over bet is not restricted to football either as, for example, a bettor can predict whether a set of tennis will have over or under a certain amount of games.
Correct score betting provides bettors with excellent value due to the difficulty of predicting, where applicable, the exact outcome of a sporting event. Bookmakers tend to offer attractive odds as they regard it unlikely that bettors will select the correct result on a consistent basis. The same applies for first goal scorer betting, which is also a hard thing to predict.
Horse racing remains well loved in Europe as a leading sport to bet on, especially in England, where many of the leading race courses are located. In fact, many English bookmakers use it as a base for products that will be diversified and offered to their bettors, with horse racing the primary selling point of their business. This is not the case in Asia, however, where there is greater focus on sports such as football, basketball, and American football. Sports betting is an exciting, diversified, and enjoyable form of gambling. In fact, there are more interesting differences between Asian and European bookies.
Although sports betting can be complicated for beginners, the variation on offer,once fully immersed, is astounding, and this is where the excitement lies. Bettors are not confined. Bookmakers offer such a wide range of sports and markets that seem every option for bettors. These options are available, leading to the expansion and easy access of sports betting for all.