Sports Betting – Some Basics About Sports Betting

Sports betting one of the few forms of gambling where skill can largely outweigh the benefits of luck. For this reason sports betting has become one of the most popular forms of gambling in the United States and around the world. Add in the passion many people have for their favorite sports and it’s easy to see why just Americans gambled 12.3 billion dollars in 2010 on horse race betting alone. Add in all the other sports that can be bet on and it’s easy to see that sports betting is a favorite past-time for many people around the world.

Betting On Your Favorite Sports Team

Each year people gamble billions of dollars on sports teams. betting Online These bets can be between friends (which is often illegal), through office pools (again often illegal), and through legally established online and brick-and-mortar gambling houses. The exact terms of the bet have to be examined on a case-by-case basis but there are some basic principles that are followed, especially for legal gambling houses.

Sports teams are not all created equally. Often, the likely winner of a game is known before the game is even played. Let’s consider the University of Alabama Crimson Tide football team, one of college football’s most dominant teams. And let’s assume that they are playing against the University of Toledo Rockets football team, which hails from a much smaller and less established school. The Crimson Tide would almost certainly win. Should the Toledo Rockets pull off an upset it would be a major event, likely garnering national headlines.

Most people thus wouldn’t bet on the Toledo Rockets to win in a straight-up match. The odds would be extremely slim. Instead, bets makers set an over/under score which dictates that the Alabama Crimson Tide must win by a certain score in order for gamblers supporting the Crimson Tide to collect their money. So let’s say the Crimson Tide are given a score of (-14). This means they must beat the Rockets by more than 14 points in order to “beat the odds.

 

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