Sports betting is one of the oldest forms of gambling in existence. People were betting on the outcomes of sporting events hundreds of years ago, just like they do today. A lot has changed since then of course, but the basic concept of sports betting has remained the same. You simply put your money on whatever outcome you think is most likely. You win if your prediction is correct, and you lose if it’s not
The relatively straightforward nature of sports betting is one reason why it’s so popular. There are others too, as we’ll explain later. However, certain aspects of this form of gambling can be a little more complex. It’s easy enough to get started with just some basic knowledge, but there’s a lot to learn if you want to get the most out of betting on sports. This is especially true if you have aspirations of winning money consistently. Even if you’re just betting for fun, learning more about how to do it could never hurt.
The purpose of this sports betting guide is to teach you everything there is to know about the subject.
It doesn’t matter if you’ve never placed a sports wager in your life, or if you have lots of betting experience under your belt. Now, we’re not promising that we’ll turn you into a successful bettor overnight. This isn’t a step by step guide to guaranteed profits. Our goal is to give you the information and advice that you need to develop your betting skills over time. Combine those skills with the right attitude, and plenty of willpower, and there’s every chance you’ll start making money.
About Profit and Lose of betting
A shift in circumstances and odds can present opportunity to lay a selection you have backed or vice versa. For example, you back a football match to be a draw at odds of 3.8 with a stake of $100 – the potential profit is $280. At half-time the game is still 0-0 and nothing much at happened, the odds of a draw will have shortened, say to 3.0.
If you chose to lay at this price to win $126.67, your liability would be $253.34.
If the match is a draw, you win $280 but lose $253.34 that you laid, meaning a $26.67 profit. If the match is not a draw, you win $126.67, minus your $100 stake, also resulting in a profit of $26.66.
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