There are a lot of websites and bookmakers with which you can easily get an access to sports betting. Sports betting is legal, fun and lucrative. Whether you do it for the love of the game, to up the stakes and add thrill to your experience or to make some easy money, it’s your call and it’s also a lot of fun.
There is a lot of information out there made available to you which will help you understand how sports betting works and what are the kind of bets you can place. There are websites and experts which provide valuable tips about various games. In the age of technology such information is freely available on the internet, radio, newspapers, television and other means.
With all the information before you, you need not feel overwhelmed. A few basic concepts and the basic understanding of the working of the sports betting industry are all that is required to get you started. The rest you can learn along the way. You need not be an expert to get the ball rolling.
Sports betting like any other industry has its own set of terminologies that you need to know. You need to know the language for communicating.
Here are some of the betting terms explained in a simple manner.
A stake is the term used to represent the initial amount you are willing to risk. It is the money you gamble with. When you place a bet this is the amount you put at stake, thus your betting amount becomes your stake
The person either online or on the highstreet with whom you place your bets
This is the method used to calculate the winnings of a game
This is a term used when a bookmaker accepts bets. The bookmaker by agreeing to your bets lays the particular outcome of the event.
This term is used to describe a bet that is considered to be a certainty
A betfair commission is a small percentage of the winnings which is claimed by the company in lieu of providing their services
This term is used to describe the outcome wherein you will receive a profit amount which is higher than your stake. These are also referred to as positive odds
This term is used to describe the event where the profit amount you earn is equal to your original stake amount
This is a kind of bet where you need to stake more than you win. The word ‘on’ means that the odds are reversed. These are also known as negative odds
This is a selection which has good chances of winning however the returns that you receive for your investment are not very high
This is a selection which is highly risky. The chance of winning is less. But high risk pays more and if your selection is correct you get very high returns for your stake
In Play Betting
When you place bets while a game is going on it is known as in play betting
These are just some of the betting terms which will help you get started. There are still a lot of things you need to understand. So to gain more knowledge subscribe to sports betting journals or websites and see what advice the experts have to offer. This will enable you to make sports betting enjoyable as well as profitable experience for you.