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By SportBetTime in MLB
October 7, 2019 4:33 PM PDT
What is online sports betting?
Each bet has its own conditions. For example, you can bet that team A will win the game with team B, or forecast the exact score of their match, or even the score of certain players (if they are counted in a particular kind of sports). Furthermore, sportsbooks are not just about sports and games. Some bookmakers offer to guess the outcome of famous political and cultural events.
How can I count my possible prize?The bookmaker evaluates the probability of one or another event result and puts a coefficient (odd) on each of the possible outcomes. Coefficient or odd is a numerical value by which the bet will be multiplied if it is successful. To find out the amount you would receive in case of winning, just multiply the wagered amount by a coefficient.
ATTENTION! The size of the payout and profit are not equal! Profit means the amount of money you have won without your bet.
The betting odds show not only the size of the potential prize. It also expresses the estimated probability of a specific result of sports or other events. The lower is the coefficient according to the bookmaker, the higher is the probability of certain outcomes. So, in case you bet on less probable variant and it occurs in spite of all predictions – you win more.
How to get bonuses?Online sportsbooks rather often greet newcomers with welcome bonuses or promotions for free bets. Mostly, receiving cash is possible only after placing a certain amount on bets.
In the case of a “gift” for a free bet, the bookie gives a certain amount of virtual money to the player’s account. The only way to use this amount is betting on the platform. Before agreeing to receive a bonus from a sportsbook, you must carefully read the terms of the promotion! Because, frequently, spending these bonuses has some extra requirements and conditions. For instance, if the free bet is won, the user receives only net profit on his account - the amount of the free bet is not converted in real cash. As a rule, this winning immediately becomes available for withdrawal, but sometimes it also requires wagering.
How can I trust the company that earns money from my loosing?Of course, a significant part of the bookie’s profit comes the loss of players. However, they receive guaranteed earnings anyway, because they are initially included in the odds.
While estimating the probability of each event and setting the coefficient for it, the bookmaker of any sportsbook decreases this odd by adding a margin in it. This margin will bring profit regardless of the outcome: exact game score, victory or loose of any sports team, etc.
For example, if in the game of two teams with equal chances to win - the objective coefficient should be 2.0 for the victory of both teams (50/50). But the bookmaker’s odds will always be lower due to the margin in them.
What should I do in case of any problems?Most of the sports betting websites have their own customer support service, which you can contact in case of any questions or disagreement with the company's actions.
How to choose the best sports betting site?There are lots of online sportsbooks in different countries all over the world. That’s why before making a choice, you should pay attention to some key points.
- Country Popular sports betting sites are international, as a rule. However, some extremely popular sportsbooks in Europe are illegal or even inaccessible in the United States. So, do a little research on the most frequently used sports betting platforms in your country.
- Reliability The most important thing for any bettor. If you do not want to invest in deceiver’s company, search for some information before creating an account there. Read some comments or reviews about certain sports betting sites on some top and reliable forums. But in case you have neither time no inclination for the research work, the top of best and most reliable online sportsbooks according to our point of view you may find on our site.
- Popularity The more popular – the better! This famous phrase does not lose its actuality in terms of sports betting companies. One person may be mistaken, but not a million. If you choose one of the top websites, never be taken in.
- Coefficients As we have already mentioned, the size of odds depends on the size of margin: the lower is bookmaker’s margin, the higher and more attractive becomes the coefficient for a player. How to find out which sportsbooks have the highest coefficients? Everyone can do it by comparing odds of different sportsbooks for the same event. Of course, the process requires both effort and time. Furthermore, in betting on football and tennis at the same bookmaker website the margin size can be different. And in betting on gaming tournaments of different levels they also greatly vary. That’s why finding the best coefficient for the right outcome is the main job of the bettor.
- Live bets Live bets mean wagering during the match, game or other events. The best sportsbook for betting in the “prematch” mode (before the start of the game) not always will be suitable for online sports betting. Platforms for online gambling on the websites can differ significantly. Keep in mind that different players may consider different criteria as the most important for live betting. Some users prefer nice interface and navigation, others need current infographics or broadcast of the game, for the rest – the speed of betting, when the score of the game is changing rapidly, is paramount.
- Comfort and bonuses Nowadays more and more players prefer to bet from various mobile devises instead of common computers. In case, for your comfort and constant access from any place are also important, you should take a look at a sportsbook’s mobile app.