Sportsbetting and Sportsbooks
What’s it all About?

This lesson is an Introduction to sportsbetting and sportsbooks that includes terms and betting options for casino players considering this gaming opportunity.
To answer the question, What’s it all About? we begin with the definition of the terms sportsbetting and sportsbooks.


Betting on a team or individual sporting event. There are several betting options as described later in this lesson.

Sportsbooks are organizations online or off that accepts bets on sporting events but that is not their only limitation.
These services will literally take bets on just about anything that you can bet on.
In order to provide sportsbetting and sportsbook services to gamblers, bookmakers will charge a small commission or ‘vig’ on all losing wagers.
The commission will range from the typical 10% to as low as 5%. Following the posted event, the sportsbooks will pay the winners according to pre-determined values or odds.

A third term and betting option online is:
Sportsbetting Exchanges
A sportsbetting exchange manages wagers between gamblers directly online. They allow the bettors to either act as a book themselves by setting things up to earn a profit through others or they will search for the best possible odds courtesy of another bettor.
The bettors are involved only with one another and not the house and the exchange takes no direct interest in any of the wagers. Rather, they make their profit by charging a commission that is calculated as a percentage of the net winnings for each customer on each event. Most times this commission is 2% or less.

Combine two of the greatest interests in the sports world and you've got something called sports gambling. What could be more ingenious? Imagine a group of people cheering for their favorite team, and at the same time, bets are placed along with the noise level.
With every sport, there are always certain highlighted games that fans talk about, something that, according to sports buffs will "change the course of history."
In order to get some of the action, spectators usually attempt to guess who will win in the upcoming games. This all turns into a friendly little game called sportsbetting.
Sportsbetting is really a fun way to bond with your friends. You can bet a little amount of money and still have a good time. Sportsbetting makes the outcome of a game more meaningful and the game or event more thrilling and exciting.
Here are some sportsbetting and sportsbooks basics to get started.

To place a bet, you go to sportsbooks online or land-based that accepts bets on sporting events. In the US, there are four states where sportsbetting and sportsbooks are legal.
However, until the internet offered sportsbetting legally, many sports fans bet illegally by finding a willing bookie.
Some examples of sportsbetting are professional and college football and basketball, professional baseball, professional hockey, plus horse and dog racing.
Add the sportsbetting and sportsbooks internet services into the mix and you can bet on anything now that involves sports. You can bet on the overall combined score of a game, on what round will the opponent be knocked out, and even whether a coin toss in a game lands heads or tails.
All you have to do is place your bet depending on the statistical odds meaning chances of winning or losing.

With sportsbetting and sportsbooks, the bookies rely on statistics to help you decide which team you think will win. There is the term,  ‘spread’, which is a point advantage given to a weaker team that is expected to lose by X number of points.
This is the odds makers’ way of making even bets possible for a sportsbook. For example, if a person bets on a team that is expected to lose, they can still win the bet as long as the team loses by a given number of points or the point spread.
You may be asked to bet a little more than the money you win.
This is the sportsbooks’ method of making money with a commission for placing the bet. This commission/fee is called vigorish or ‘vig’.

In sportsbetting, there are different kinds of bets. There are straight bets, parlays, teasers, futures, proposition, reverse, if bets and over/unders.
The most common type of bet is the straight bet, where all you have to do is to pick the team that you think will lose or win.
Over/under bets are wagers on the combined number of points scored in the game by both teams.
Parlays are combined bets on several games.
Teasers are similar to parlays, but you can add or subtract points from the spread to make your bets stronger.
Futures are bets made today for sporting events that take place at a later date.
Proposition Bets are wagered on a specific element of the sports game. For example, how many field goals will be completed.
If Bets are placed based on an ‘if clause’ with betting selections/teams for football, basketball and baseball games. Therefore, if the bettor’s first ‘if bet’ is correct, they move on the second ‘if bet’ until the selections/teams they bet on is not in their favor.
Reverse Bets are used in combination with ‘if bets’ for sides or totals. These bets are generally two straight bets and your reverse bet will be the total for each straight bet.
If your reverse bet wins, ties or cancels, you then move to a second reverse bet.
The variety of betting options illustrates that sportsbetting and sportsbooks services offered online and off make this gaming opportunity more interesting and challenging.

There is little doubt that the world wide web has revolutionized the sportsbetting and sportsbooks industry. What was once a restrictive pastime available though limited outlets has evolved to a point where a gambler can place a bet 24-hours a day on an event halfway around the world in a matter of minutes.
Such convenience has resulted in a dramatic surge in sportsbetting and sportsbooks popularity as evidenced by the unprecedented growth in the online sportsbetting industry worldwide.
Gambling Teachers, Learn Sportsbetting program presents lessons covering terms, strategies, bankroll, baseball betting and 3 horseracing systems for those casino players who want to visit The Big Board.

After Sportsbetting and Sportsbooks, view more sportsbetting terms
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Tips, Terms & Wins

More Sportsbetting Terms:
betting or wagering on sports events.
Ante Post:
type of betting that is placed 1 or more days before the date of the event.
Asian Handicap: basically, this method of betting eliminates the tie or draw outcome.
Thus, the player has two betting options, win or lose, that each has close to a 50% chance of success. The line is then created near 50% resulting in payouts close to even money.
This type of betting starts at a quarter goal and can go as high as 2.5 or 3 goals in certain games.

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