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Sports betting basics: what it is, betting history and theory for beginners

Sports betting basics: what it is, betting history and theory for beginners
For over 300 years, betting has remained in the shadows. The Internet has brought sports...

For over 300 years, betting has remained in the shadows. The Internet has brought sports betting to a new level.

Betting is betting in a bookmaker’s office. Interest in sports betting emerged 300 years ago, and in the XXI century there was a breakthrough.

 

History of betting development

To tell about the world of sports betting, betting will help history. Gambling and the desire to defend their point of view – a characteristic of man at all times. The sport developed in Antiquity, and already then the first bets on the winners appeared.

 

Officially the history of sports betting is since the middle of the XVII century. The British and the French defend the palm of primacy. The former claim that horse racing is the national pride of the British, and it was from betting on horses that modern betting started. The French insist that they were the ones who started officially accepting bets. They even give a specific date – the horse races on May 15, 1651 in the Bois de Boulogne.

 

Professional betting experienced its heyday only in the first half of the twentieth century. Horse betting had a long history by that time, but betting on sports was not widespread. In many European countries the so-called booths appeared, and then the laws regulating their activity.

 

The modern stage of the flourishing of sports betting is associated with the introduction of interactive technology. In the XXI century, betting became available online, so the betting business experienced an unprecedented upsurge. For example, about 8 million people in Russia place bets.

 

Thanks to new technology, it is possible to enter the world of betting and start betting in a couple of minutes. But is it safe?

 

In order not to lose a lot of money, learn the basics of betting, the rules of player behavior, the principles of financial management and other nuances.

Sports betting basics: what it is, betting history and theory for beginners

What a beginner needs to know about the world of sports betting

There is a specific vocabulary in betting. You have an interest in sports betting, you want to know what a bookmaker is, total, line, bet, prediction, express, what types of bets there are and more. Get ready for the fact that sports betting is a complex and multifaceted activity.

 

To succeed in betting, build your knowledge of the following areas:

 

The principles of bookmakers;

peculiarities of the formation of the line, spreads, odds;

sports you are going to bet on;

The rules of financial management, game bank management;

Effective betting strategies that allow you to be in the black at a distance.

There are fans who use sports betting to raise the emotional degree. Cheering for your favorite team is even more interesting if you bet on its victory.

 

How the odds of bookmakers are formed

Let’s understand what betting is and how bookmaker odds are formed. In a perfect world, the formula works:

 

K = 1 / B, where K is the odds; B is the probability of the outcome in decimals

 

If the teams have equal chances of winning, i.e. 50/50, the calculation looks like this:

 

К = 1 / 0.5 = 2.00.

 

However, in a bookmaker’s office there are almost never odds of 2.00 for each of the opponents to win. Most often they will be on the level of 1.80-1.95.

 

Such an understatement is a commission charged by the bookmaker, a margin. The office always puts itself in a more favorable position. This is the principle of betting and every beginner player should know about it.

 

source: Liontips.com

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