Sports betting is defined as the act of predicting the results of a sports activity by betting on its outcome. This is illegal in Europe and the United States, according to the Professional and Amateur Sports Protection Act, 1992, except in some states like Nevada sports betting philippines.
The basics: All games subscribe to their own jargon, and so does sport betting. Here are some basic terms to give you a basic understanding:
1. Action: The act of betting is what the “action” is all about.
2. Handicap: This refers to giving one team an advantage of one point to even out the betting field.
3. Handle: The total amount of money laid on the batch is the handle.
4. Sports book: An organization that accepts bets is a book or sports book and the professional who accepts bets is a bookie.
5. Juice: A bookie’s profits calculated as the percentage of all the bets laid is the juice or vig or vigorish.
6. The spread: Used in basketball and football, the point spread is a handicap that gives all competitive games a competitive look to bettors. It gives one team an advantage over its competitors by a few points.
How to become a sports bettor: It doesn’t matter what the requirements are for a good bettor, he must be able to pick a winner for a minimum of 54% of the total number of times. Here are the other major requirements of a good sports bettor:
1. A big bankroll: You need a basic bankroll of about $100,000 or $200,000 to be able to bet $2,000 to $3,000 per unit and still be able to operate your bankroll without exhausting it.
2. Be a good money manager: You need to manage your money well or you will end up losing big money.
3. Research, research, research before betting: Sometimes, there are those sports books that have better odds on teasers and parlays. These add up to a lot of money in your payout. If you research thoroughly, you will be able to make the right bets at the right time.
4. Invest time: You need to invest a lot of time in handicapping games, which will be much more than a regular job would entail.
5. Is your timing right? Good bettors bet underdogs. If you like to do this, place your bet as late as possible, when the betting action is heavy from the squares betting on favorites. To bet on a favorite, bet early in the week when the pros are putting down big money on the points. This is a good rule of thumb.
6. Bet only when you’re cold sober: Alcohol makes your judgment woozy and makes you make the wrong decision, so don’t bet when drunk. You need to have a clear mind to be good at sports betting, so be careful.
7. Choose a reputable sports book: Before getting into serious betting, do your homework thoroughly by checking out all the available sports books, their payout systems and methods and the cost of a payout by wire transfer, check, apart from who’s offering the best rebates and
