Estimated reading time: 3 minutes
The online casino can broadly be divided into several categories. One is the traditional video slots, of which there are a lot. This is because the iGaming business is booming, which means that new games are released continuously.
Another segment which is also growing is the live casino, where you play against the bank via a video link.
In addition, in the finer casinos you also have the space to play poker. What is additionaly becoming more and more common is a sportsbook. Time to take a closer look at that.
What is a sportsbook?
In the How to play series, we look at different elements of games, casinos and segments. In the coming time, we will turn our attention to sports betting. Basically, this starts with a sportsbook, which is basically a total collection of all the sports betting games on offer.
Each casino can decide what they focus on and because of this, you may find more sports betting at one casino than another. It is just what they themselves find interesting and what the sportsbook offers on its own.
Besides being a total collection of sports games, a sportsbook is also a platform on which bets can be placed. There are several developers offering a sportsbook, so the content can vary as well.
In the end, however, it always boils down to the same thing: an overview of all matches in various sports along with the odds regarding various betting options, allowing you to make a bet.
Quotations are important
In any sport, it is important to pay close attention to the quotations. These are determined based on historical information and the level of betting. The odds indicate the probability of success of your bet, but they do not guarantee that you will actually win.
To give you an example: if Leeds United has to play against Arsenal and the odds are 4.8 for the former and 1.2 for the latter, the bookmaker considers it very likely that Arsenal will win.
If you bet on Arsenal and that team wins, you will get back your stake times 1.2, which is therefore a minimal profit. With this ratio, on paper it is more or less a certainty that Arsenal wins, but it is not a definite guarantee.
Wild things can happen in sport and it could be that Leeds United emerges as a surprise winner. If you then bet on Arsenal, you will lose your bet.
The chances of Leeds United winning are very small, so if you bet on that team, the risk of losing is extremely high. That’s why most players bet on Arsenal in this scenario. However, a win for Leeds United is definitely not out of the question, and should that team indeed take the win, you will be paid out your bet times 4.8, which is thus considerably more than the payout against the other odds.
Weigh it against each other
Betting on sports matches is purely based on odds and it is up to the participant to decide whether they see chances. However, the odds give a good indication of where the most chances are, but the risk of things turning out differently remains. In that context, it is therefore always important to read up. Quotations on paper are indeed different from reality, as a team may be dealing with injuries, suspended players, a bad period and more.
Therefore, the advice in that regard is always to read up before making a bet. Knowledge is power, and that also applies to sports betting. Regardless of whether it is a football match, ice hockey, cricket or horse racing, it is always advisable to inform yourself well so that you bet in a conscious manner.
This still does not rule out losses, but with good knowledge and a thoughtful bet, the odds increase. In doing so, the advice is also to always weigh up all the odds against each other. This holds especially true in the context of betting options that go deeper into a specific match. More on that soon.