Recently, the trend of the growing popularity of sports betting and bookmakers has become increasingly clear. The number of players is constantly growing: more and more people want to plunge into the world of sports excitement.
The reasons for this interest in betting on sports can be different. For some, these are just vivid emotions and thrilling experiences, but it is serious analytical work for others. And for those who have never made any single bet yet, www.elroyalecasino.com is a great way to start (they do not have sports betting, but slots guarantee tons of fun).
Back to betting, most players perceive betting as entertainment. Some people bet on their favorite teams to make it more interesting to watch the game. For the rest, betting is a profitable investment. However, betting is more than just an interesting and profitable business. There are quite a few risks here, and we need to answer some profound questions to minimize them.
What Is Betting on Sports?
Sports betting is an intellectual bet between a player and a bookmaker: the player makes his prediction for a sporting event and bets money on it. If that prediction is correct, they return this money to themselves with a profit. If they lose, they do it accordingly.
For each bet, the bookmaker assigns a coefficient (a quote) that estimates the probability of this event. If the bet turns out to be successful (the player’s prediction turned out to be correct), the bet amount is multiplied by the odds offered by the bookmaker – this is the amount of the payout for a successful bet. Only the amount of profit is called net winnings: the bet size is deducted from the payout amount.
Bookmaker quotes can change both under the influence of the number and size of bets placed on a particular event and due to a decrease/increase in probability. Experienced players also refer to the odds as the “price” of the proposed event: anyone can either choose to bet at the offered price or refuse if they think it is wrong.
So, Why Do People Enjoy Betting on Sports?
Sports betting is a kind of amusement park where a person comes to have fun and relax. In this case, what matters here is the process itself and not the final result. After all, winning is, first of all, a pleasant bonus for the experienced emotions.
Everyone who has ever bet on sports has experienced a sense of excitement. It is a state in which a person passes an event through themselves and emotionally worries about the result. Sometimes a player can even reach a state of passion. By betting on some teams, you unwittingly start rooting for your investment. It is how excitement is born, which gives the bets even more taste.
Peculiarities Of The Bookmakers’ Industry
Football, boxing, tennis, hockey, biathlon, racing, or basketball? Which sport is best for betting? Team or individual? No one knows a clear answer to this question. Every sport has its favorites and underdogs. In every sport, there are ups and downs. The main rule of sports is that it is impossible to win all the time.
To bet on a particular sport, you need to understand it from the inside. Very often, one team is more successful than another one. However, loss of good shape, injuries, and other factors can affect the game. It is important to remember this. Therefore, it is better to choose a sport you are very much interested in, and most importantly – which you understand. It will allow you to bet on victory, defeat, or a draw. Analysis of the game will enable you to take a deeper look at the situation and make a profitable bet.
Another question is where to bet. Sports betting is a market. Therefore, each betting company is happy to have a new client. However, a player should not rush with his choice. Instead, you should analyze the market and choose the company that best meets the main criteria.
Bookmakers differ in such parameters as:
- The value of the coefficients;
- Number of different types of sports, tournaments, and events;
- Choice of rates;
- Available methods of payment and withdrawal of money;
- Legality and availability;
- Site convenience, bonuses, and support service.
There are three types of bets: straight (singles), express (parlays), and system (round-robin betting). All others are combinations. The players normally make straight bets in the bookmaker’s office. It does not require extraordinary efforts from new players. This bet assumes that the player chooses a certain outcome. If the answer is correct, the coefficient is multiplied by the amount of the bet, and the resulting number in monetary terms is credited to the bettor’s account. The so-called express bet is fairly simple and involves a combination of single bets. If a player decides to bet on several unrelated events at once, you can combine them into an “express” and place one bet instead of several separate bets.
What is the advantage of express bet? When the bets are added together, their coefficients are multiplied among themselves. As a result, the winnings will be much greater than if the player made each bet separately.
Usually, express is suitable for sports where regular tours and events take place within one or two days. However, the disadvantage of this betting type is that it is quite difficult to guess how all the teams will play. In a word, a single failure can spoil all other predictions, even if they were successful.
A system is a combined bet of several parlays. The bet amount on the system is evenly distributed between these parlays. The main difference between the express and the system is that if at least one outcome in the express turns out to be unsuccessful, the total bet will lose. But in the system, the reward is possible even when one or more outcomes fail. The system mainly works as insurance. If you often do not get any winnings in express bets due to one or two mistakes, then the system can be an excellent way out of the situation. The paradox in this betting type is that the payout may be less than the initial bet amount. You will receive a profit if you win at least one parlay in the system and if the coefficient of each parlay is greater than the number of combinations in the system.
What Is A Sports Betting Addiction, And How To Avoid It?
First, we are talking about a psychological state when people do not control themselves and bet without any strategy or plan. Such actions inevitably lead to losses and a bettor’s bad mood. If the crisis worsens, depression will likely set in, with unpredictable consequences.
Here are some symptoms that can warn you about the potential development of a betting addiction:
- You are constantly thinking about how you will play.
- Because of this, all other, more important things are crowded out, including communication with friends and family. There is a constant, painful analysis of particular situations from the game. A not addicted gamer knows how much time should be devoted to betting and how much to other things.
- Constant irritation, anxiety, bouts of anger, sleep disturbance.
- The most important sign is that you cannot stop to place bets. To test for sure if you have any degree of addiction, try not betting for a week or two. You are spending too much money on betting. You need to understand that betting can bring income and lead to loss of money. And this fact should not be too painful for you.
The above symptoms of gambling addiction may lead to the following consequences:
- Loss of social contact can make you stop communicating with friends and family for the sake of betting.
- Problems with health, both mental (up to depression) and physical (weight loss, problems with the digestive system due to constant stress, and sleep disturbances).
- Getting temporary pleasures only from winnings at bets and from nothing else (but this joy can disappear quickly, and next time you may need to win more to get the same emotional satisfaction).
It is important to recognize and acknowledge this problem from the beginning to break the habit of uncontrollable spending money on betting. Here are things we recommend you to do in case of suspected gambling addiction:
- Talk to family and friends. In most cases, it is impossible to notice or recognize gambling addiction alone.
- Try to take a break from betting for a while. Experienced bettors during such periods go out of town and do not use the Internet.
- Try to find another hobby or passion. Start doing something else, communicate more with family and loved ones, and don’t get upset if new hobbies do not bring as much excitement at the beginning, give your new hobbies some time.
- Seek help from professionals. Psychologists are familiar with the problem of gambling addiction. They know how to get the player out of such a difficult situation.
How To Bet on Sports?
It is important to emphasize that good sports knowledge does not guarantee constant winnings. Likewise, players should remember that nothing guarantees permanent winnings. And yet, the game can be successful if a few basic conditions are met.
First of all, we want to emphasize the importance of correct perception.
Betting should be fun; this is the main thing to learn for someone who wants to try this entertainment. Players can and will lose; you need to be prepared for this. It is inevitable to perceive betting as a game or as a hobby as such attitude has several significant advantages at once:
- It allows you not to lose your mind and not risk large sums (it’s very important to act wisely);
- It helps develop forecasting skills, and not the skills of finding betting errors (as opposed to obsessing over money issues);
- It gives what bets should give: more drive, more healthy excitement, and more emotions when watching a match.
Secondly, game budget control is one of the key elements of safe betting. The advice for a player will be simple: you can bet only the amount you do not mind losing. Betting twice as much after a successful bet is a bad decision. Trying to win back after a loss is an even worse one. Experienced players know how our brains work: one successful payout (especially if it turned out to be big) can “eclipse” many previous and subsequent losses. Purely psychological. If you’re serious about mastering the art of sports betting, keep track of every bet you place and every win and loss.
Last but not least, learn how to work with information. The ability to work with information, correlate facts, and get up-to-date data in time is the basic thing when choosing a bet. It is more than just believing in your favorite team. It is important to understand what form this team is in right now, whether its motivation is enough to win, how good the line-up declared for participation in the match is, etc.
Compare the coefficient for events in different bookmaker’s offices. In sports betting, there is such a thing as a betting arbitrage or ‘sure bets.’ It is a specific approach when bookmakers estimate the probability of the same event differently when setting their odds (coefficient). ‘Sure bets’ come in different types, but the essence of all of them is to use the difference of odds (coefficients) and place such bets that can guarantee a winning. The betting arbitrage method reduces risks and increases the chances of winning. When working with sure bets, you almost always get a reward.
Of course, it is much easier and more effective not to bring yourself to a psychological crisis. In order not to suffer from gambling addiction, you need to take betting seriously. It is important to choose your sports and championships carefully, decide on betting strategies and never try to fill gaps in emotional needs with the help of such entertainment. Using these tips can greatly reduce the likelihood of betting addiction. A player with clear algorithms and reliable strategies will avoid falling into emotional pits. Suppose calculation is a priority, and emotions are pushed as far as possible. In that case, there is nothing to be afraid of, and it is easier to enjoy wins, accept losses and stop if necessary.
Sports fanatic. With over 10 years in the industry, Graywolf brings his wealth of experience to help you understand the world of sports so you can make better decisions