Staking money on the outcome of sporting events is a preferred pastime for millions of people. As statistics released in recent years indicate, sports betting yields between 30% and 40% of the global gambling industry’s overall revenue, bringing in over US$400 billion in gross revenue to the sportsbooks’ coffers each year.
Thanks to the rapidly developing technologies, punters are now able to wager on their favorite sports from the comfort of their surroundings. In fact, online sports betting is the most rapidly growing segment of this industry on a global scale. Figures pretty much speak for themselves. The gross revenue generated by online sportsbooks worldwide has jumped from US$2.4 billion in 2004 to nearly US$6 billion in 2012, with an overall volume of the gaming turnover exceeding US$74 billion for this year.
But why is online sports betting so popular on a global scale? There are numerous reasons for this, the primal one being that wagering makes watching your favorite sporting events all the more exciting. Nothing quite compares with the feeling of making a correct prediction on the outcome of an important match. Also, online sportsbooks are known to offer a greater diversity of markets punters can bet on as well as more competitive odds.
What also helps is the straightforwardness of sports betting. All it takes is staking some of your money on the outcome you believe is correct and if you guess, you are paid out according to the odds the bookmaker has laid out for this result.
Of course, things tend to get a bit more complex if your intentions are to become a consistent winner and this is where SuperBettingSites comes in. But even if you only fancy a quick punt or two but have no idea where to start, reading the articles on SuperBettingSites may be the right thing to do.
We provide you with extensive information on everything you need to know about becoming a better punter, from basic explanations of what sports betting is all about and how odds work through legality matters, popular markets, reviews, and ratings of the best sportsbooks on the web. You can go through this homepage for concise information on sports betting or use the available links to skip to more specific topics.
A Brief Sports Betting History
Before we jump into more detailed explanations on how sports betting works, we would like to outline the history of one of the world's favorite pastimes in brief. Betting on the outcome of sporting events has existed ever since sports emerged as such for the first time. The earliest records of wagering on athletic competitions' outcomes date back to Ancient Greece after the introduction of the Olympics. Spectators were originally betting among themselves and on many occasions would go as far as staking their homes, servants, and even members of their family.
Online Sports Betting Regulations by Country
Sports betting may be a favorite pastime of millions of sports fans but the unfortunate reality is that placing wagers online is not legal and regulated in all countries. It is of essential importance to check whether these activities are regulated and permitted in the location you live in. To spare you the efforts, we shall outline in brief the legal status of online sports betting in several countries.
Odds and Vigorish
Now that you have acquainted yourself with the history and the legality side of sports betting, the next step in understanding how the odds and vigorish work. And it is a very important step you are not recommended to skip on if you strive to be successful with your bets in the long run.
There are three ways to express odds in sports betting and most bookmakers online would accept wagers in all three formats. The purpose of each of those is to show you how much money you can extract from the outcome you are betting on.
Sports Variety and Markets
There are many reasons why online sports betting is so popular among punters but the biggest incentive for people to switch from landbased to online sportsbooks has to do with diversity in terms of sporting events and markets. There are all kinds of sports you can bet on online and these are not limited only to the usual basketball, football, tennis, hockey, cricket, horse racing, and baseball options only.
Online sportsbooks would offer odds on numerous less conventional options like motorbikes, cycling, darts, hurling, and handball, among many others. Bettors who are looking for something new are even given the option to make a punt on the outcomes of TV specials and presidential elections. For instance, you can try to predict who the next winner of X-Factor will be or even who would be the next president of the US.
The options where markets are concerned are just as diverse. The great thing about online sportsbooks is that they tend to offer a very extensive coverage of both popular and lesser known sports. You can wager on different events from the Premier League, the World Cup, NBA, NFL, the ATP World Tour, the PGA, and NHL.
Of course the specifics of some sports are such that they would offer a greater variety of markets but generally the options at online sportsbooks would include over/under, straight bets, point spreads (handicaps), propositions, outrights, and parlays, to mention a few. Betting on the in-play (live) markets enjoys a particularly big popularity. Many players would prefer to wager money on the live markets because this enables them to place their bets after the events have already started, which naturally increases their chances of making a correct prediction.
Many sportsbooks would also support the so-called exchanges where players can both accepts odds backing their favorites and lay odds to sell them to fellow punters in order to lock in profits or minimize their losses.
Characteristics of Good Online Sportsbooks
Now that we have presented readers with basic information on legalities, betting options, and odds, we shall proceed by listing a few of the traits they should look for when choosing an online sportsbook. There are hundreds upon hundreds of websites that would accept wagers on sports but the unfortunate reality is that some of them simply cannot be trusted. One way to determine whether a sportsbook is a reliable or not is to look for the qualities listed below.
The Rules Smart Punters Follow
Luck plays a part in all forms of gambling and sports betting is not an exception to this rule. However, this is one of the few forms of gambling where the bettor can win consistently and overcome the bookmakers’ vig by implementing a proper approach into their sports betting. Here are a few quick rules smart punters follow that will get you started:
- Build a separate bankroll for sports betting and never resort to using money you cannot afford to part with
- Do your own “bookkeeping” and keep track of all bets you place, regardless of their outcome
- Do not succumb to your emotions – a smart punter always remains rational
- Shop the lines for the best odds that give you good value
- Narrow down your bets to specific markets and specialize in specific areas
- Avoid betting progressions like the Martingale, these are inherently flawed and applying them can lead to financial ruin
- Take the time to do a research on teams and sportsmen’s form and performance in previous events. Injuries are a major warning sign for experienced punters
Is Online Sports Betting Right for You?
The truth of the matter is no one can answer this question more accurately than you can. Yet, there are several things that can be used as indicators to tell whether or not sports betting is an activity you should get involved into.
If you are uncomfortable with losing money, sports betting (and gambling in general) is not for you. A certain amount of risk is always involved when one gambles and if you are unwilling to come to terms with this, it would be foolish of you to bet on sports, or on anything else for that matter. Otherwise, you risk getting sucked into the vicious cycle of chasing your losses and this never ends well.
In order for a punter to win on a consistent basis, it is necessary for them to do their homework and invest some time into researching the teams or players they plan to back. This helps you make informed decisions with your bets and if you are reluctant to invest the needed time and efforts, you will be better off finding another hobby.
Ask yourself do you possess the necessary level of discipline that is needed to exercise proper money management. If not, your sports betting will almost certainly become an unprofitable venture that is doomed to failure sooner or later.
Is it legal to wager on sporting events online?
This depends entirely on your country of residence since interactive betting laws vastly differ from one jurisdiction to another. Some jurisdictions have legalized online betting and would regulate their markets very rigorously while others have outlawed such activities altogether. Also, there are countries that are considered “grey zones” where online gambling is legal but local licenses are rarely granted to offshore operators. The latter may choose to continue servicing punters from such countries under the regulations of other jurisdictions.
Which are the best sports to bet on?
Choosing the sports you bet on is entirely up to you. Sports that work for one punter may not be suitable for another. As a general rule, you should concentrate on the sports you specialize in, i.e. the ones you are the most competent about. At the end of the day, it all comes down to personal preferences but try your best to avoid experimenting with sports you know nothing about just because you are bored.
How big should my sports betting bankroll be?
This depends on whether you are betting recreationally or aspire to become a serious punter. If you are betting for recreational purposes only, you can wager as little as you wish since many online bookmakers would accept very low minimum bets. There is no need to risk substantial amounts of money just to entertain yourself. However, if you intend to make online sports betting a source of income, you should consider building a bankroll of big enough size, which is not to say you will need thousands and thousands of dollars.
Which online bookmakers offer competitive odds?
This is a tough one to answer since there are hundreds of sportsbooks on the web. Finding one that offers you good value is very difficult considering the vast choice of options but the efforts are worth it – betting at competitive odds is an overriding factor when selecting a sportsbook. The sports betting operators we have reviewed on SuperBettingSites.com are known to offer good value to punters, so we suggest you check them out and compare them.