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Sports betting
is the general activity of predicting sports results by making a wager
on the outcome of a sporting event. Perhaps more so than other forms of
gambling, the legality and general acceptance of sports betting varies
from nation to nation. In the United States, the Professional and
Amateur Sports Protection Act of 1992 makes it illegal to operate a
"betting, gambling or wagering scheme", except for in the states of
Delaware, Nevada, Montana and Oregon. Nevada, however, is the only state
currently allowing sports gambling, while in many European nations
bookmaking (the profession of accepting sports wagers) is highly
regulated but not criminalized. The NCAA has threatened to ban all
playoff games in Delaware if the state allows betting on college sports.
New Jersey, which is also interested, has been similarly threatened.
Proponents of legalized sports betting generally regard it as a hobby
for sports fans that increases their interest in particular sporting
events, thus benefiting the leagues, teams and players they bet on
through higher attendances and television audiences. Opponents fear
that, over and above the general ramifications of gambling, it threatens
the integrity of amateur and professional sport, the history of which
includes numerous attempts by sports gamblers to fix matches, although
proponents counter that legitimate bookmakers will invariably fight
corruption just as fiercely as governing bodies and law enforcement do.
Most sports bettors are overall losers as the bookmakers odds are fairly
efficient. However, there are professional sports bettors that make a
good income betting sports, many of which utilize sports information
services.
Odds
Odds for different outcomes in a single bet are presented either in
European format (decimal odds), UK format (fractional odds), or American
format (moneyline odds). European format (decimal odds) are favoured in
continental Europe, Canada, and Australia. They are the ratio of the
full payout to the stake, in a decimal format. Decimal odds of 2.00 are
an even bet. UK format (fractional odds) are favoured by British
bookmakers. They are the ratio of the amount won to the stake.
Fractional odds of 1/1 are an even bet. Moneyline odds are favoured in
the United States. They are the amount won on a 100 stake when positive
and the stake needed to win 100 when negative. Moneyline odds of 100 are
an even bet.
Types of bets
Bookmakers generally offer two types of wagers on the winner of a
sporting event: a straight-up or money line bet, or a point spread
wager. Moneylines and straight-up prices are used to set odds on sports
such as association football, baseball and hockey (the scoring nature of
which renders point spreads impractical) as well as individual vs.
individual matches, like boxing. For these sports, bookmakers in Europe
and Asia generally use straight-up odds, which are quoted based on a
payout for a single bet unit; for example, a 2-1 favorite would be
listed at a price of 1.50, whereas an underdog returning twice the
amount wagered would be listed at a price of 3.00.
Unlike point spread bets, a moneyline wager requires only that the team
wagered upon win the match. In sports such as baseball, where certain
teams can be heavy favorites against weaker opponents (sometimes as much
as -350 or higher), the moneyline system requires that a hefty sum be
risked on the favorite, while enticing underdog players with a higher
payout.
In sports such as basketball or American football, betting on the point
spread is more popular, although money line odds are usually offered as
well. A point spread wager typically requires a bettor to risk $110 to
win $100, the extra $10 being the bookmaker's vigorish if the wager
loses. However, bettors backing the favorite collect only if their team
wins by more than a specific victory margin, which is set at the time of
the wager. This is called "covering the spread". Similarly, underdog
bettors can collect even when their team loses, as long as they win
against the point spread by losing by fewer points than were quoted by
the bookmaker. For example, suppose that a college football game between
Team A and Team B had Team A as a 27 point favorite (quoted as Team A
-27, or Team B +27):
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If Team A
defeats Team B by more than 27 points, they have covered the spread and
bettors on Team A would receive $100 on a $110 bet. Team B bettors lose
the $110 they wagered.
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If Team B
defeats Team A, bettors on Team B would receive $100 on a $110 bet. Team
A bettors lose the $110 they wagered.
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If Team B
loses by less than 27 points, they have won against the spread. Bettors
on both sides are then treated exactly as if Team B had won the game.
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If Team A wins
by exactly 27 points, the wager is called a "push", and neither side
wins. Standard practice by U.S. bookmakers is to return the stakes of
all bettors on the game in full. To prevent pushes and ensure that they
receive their commission on losing wagers, bookmakers often set point
spreads that include a half-point.
Another common
wager available for sporting events involves predicting the combined
total score between the competing teams in a game. Such wagers are known
as "totals" or "over/unders." For example, the Kansas State/Kansas
football game described above might have a total of 55 points. A bettor
could wager that both teams will combine for over 55 points, and play
the "over." Or, he could predict that the score will fall under this
amount, and play the "under." As with point spreads, bookmakers
frequently set the totals at a number involving a half-point (i.e.,
55.5), to reduce the occurrence of pushes.
Sport
Betting - Sports betting sites. A lot informations about
bookmaker offers.
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