For many industries, the boom in sports betting is a huge market that is still rising rather than falling these days. The bookmakers who have entered the online market have grown strongly in recent decades. While in England bookmakers can look back on a long tradition, the betting market in Central Europe only emerged with the commercialisation of sport. While in England bets are placed on everything, including the birth name of the king’s child, betting in Central Europe refers exclusively to sporting events. Newcomers to the industry often ask themselves how sports betting actually works. What do the individual terms such as odds and cash out mean in concrete terms? How is the system structured around betting? This text is intended to address precisely these questions and explain the system and function of sports betting. Furthermore, you will get an overview of the system of sports betting at Wettenerfahrungen.com/en. Wettenerfahrungen.com also lists special features.
This is how sports betting works in detail:
In principle, the functioning of sports betting is always identical. At the beginning of a bet, the bookmaker determines the odds. Afterwards, the customer can accept or reject this offer. The advantage, however, lies mathematically with the betting provider. The odds, which are often quoted, largely determine the winnings. A high odds is usually used by bookmakers when the victory of a team is considered very unlikely. If, however, this team wins and the bet is placed on it, the win is all the greater. In live betting, which continues to prevail in this industry, the odds change constantly and are adapted to the game.
Is it possible to generate winnings with sports betting?
Of course, amateurs often ask how to bet sports most effectively. The answer is: there are clues that laymen can use as a guideline, but there is no uniform strategy with which they can always make profits. If this had been the case, others would have come up with the same idea. Customers who want to run sports betting professionally need knowledge, as they do in everything else.
Sports betting is based on a simple system that is no secret to the customer. Thus one can estimate at each time whether one accepts the offer of the bookmakers or whether it seems too risky to one. There is in principle a fight between bookmaker and customer, whereby the bookmaker determines the odds and thus has a considerable advantage. As a rule, the bookmaker only pays out 94% of the paid-in amounts, which proves that 6% remains as profit. If this were not the case and the bookmaker would make losses, he would not offer this service either.
For the bookmaker, the quota is an important criterion. The bookmaker evaluates a sporting event or a game and then makes the odds. Only rarely is the odds balanced, for example when it is approximately equally likely that both teams will win. With live bets, an algorithm calculates the odds within seconds to give no better advantage. After the odds have been set, the bookmaker also calculates his winning are.
For sports betting there are mostly identical choices, which are similar for all providers. In addition, there are different other choices, which may differ from provider to provider. The classic selection options are listed below.
– 1 – Home victory (on neutral ground, the first team or athlete named)
– X or 0 – draw
– 2 – Away victory (on a neutral ground the second named team or the athlete)
– 1X – Double Chance (Home Win or Draw)
– X2 – Double Chance (Away Victory Differences)
– 12 – Double chance (home or away win)
– Plus – Event about, for example, goals, corner balls or yellow cards
– Minus – Event Under analogue
As already mentioned in the upper section, the odds are elementary for both the bookmaker and the customer. Especially the customer should inform himself in advance, as the odds can vary from provider to provider.
What types of bets are there?
In general, there are the same types of bets in all industries. As a rule, a distinction is made between individual, combination and system tips. The following are examples of the individual types of bets.
Werder Bremen – Hamburg Sports Club
Tip: Home win
Use: 10 Euro
Possible profit: 17,50 Euro
Borussia Mönchengladbach – 1st FC Cologne 1 1.75
FC Bayern Munich – Hamburger SV 1 1.09
Borussia Dortmund – 1st FSV Mainz 05 1 1.33
TSG 1899 Hoffenheim – VfB Stuttgart X 3.60
Total ratio: 9.13
Use: 10 Euro
Possible profit: 91,30 Euro
Live betting and the special features
Live betting is the latest form of bookmaking. With live bets, you can bet during the game, where the odds are determined using a mathematical algorithm. You can intervene in the game within seconds and the odds can also change within seconds. These live bets also include a so-called cash-out function with many providers today, i.e. during the game, you can pay a certain amount. For example, you don’t have to wait until the end of the game, but you can pick up your winnings during the game with a correct tip. So it can be that you have typed correctly during the game for a certain period of time and can be paid the winnings. At the end of the game, however, the game spins and you would have gone away empty-handed. The new Cashout function in combination with live betting offers new possibilities. This seems to be tempting, but also has risks, because you think that you can intervene in the game at any time. For beginners, the classic betting methods are more suitable to get to know the system first.