Sports betting is an exciting way to enjoy sports and make money at the same time. Learn all about it from our complete guide.
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Sports Betting
One of the most popular pass times in the Philippines is online sports betting and for good reason. Especially for those who already love sports, betting is an excellent way to profit from your hobby. Moreover, there are plenty of online casinos and sportsbooks on the market to choose from nowadays. Hence, placing a bet is easier and more accessible than ever. In this comprehensive guide, we’ve put together all the basics to prepare you for your betting journey. Whether you’re brand new to gambling or not, by the end you’ll get some excellent tips to gamble smart.
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All About Sports Betting
Sports betting is exactly what it sounds like – placing bets on your favorite sports. Basically, you stake some cash on your prediction of the game results. Of course, if you guess correctly then you win and get to walk away with a price. But besides the wide range of sports, you can bet on, you can choose from various bet types as well. Each offers different risks and payouts, so choosing the right one is key.
Needless to say, sports betting has been around for a long time. Back in the day, the Greeks placed bets on the Olympics – they bet on the competitors on the field. Betting was then legalized in Rome, as the Romans placed bets on gladiator games. But modern sports betting is primarily based on horseracing. Wagering on horse races gained popularity in 18th-century England.
From then on sports betting spread around the world and became a common pastime for many. Nowadays, you can even place bets online thanks to technological advancements. The first online sportsbooks emerged in the 1990s and plenty of operators are on the market.
Types of Sports Betting
There are quite a few ways to bet on sports online, but here are the main options:
Money Line Bets
The simplest and most straightforward way to win is to opt for money line bets. Basically, this is a bet on a certain team to win without any point spread. For example, if you bet on team A to win and they do – you also win and take some money home. Money line bets are available for virtually all sports but are especially popular for baseball and hockey.
Parlay Bets
Simply put, parlay bets are multiple individual bets in a parlay. But to cash out, every bet in that parlay needs to succeed. For example, if you have 5 bets in a parlay but only 3 predictions succeed – you still lose. Parlay bets can include anywhere between 2 and 10-12 bets.
Teaser Bets
Teaser bets are almost the same as parlay bets, except here you place multiple bets. So, the only difference is that these are for point spreads. Moreover, you can turn it in your favor but on the other hand, cashouts are smaller.
Prop Bets
Prop bets are certainly exciting – they involve placing bets on anything but the game results. Moreover, there are player props and game props. So, player props are bets on how well a player performs. On the other hand, game props are bets on what happens during the game.
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Sports Betting Live in Real-Time
Live betting, or in-game betting, is truly a thrilling experience. Simply put, you can place bets in real-time as the game is happening if your sportsbook offers this feature. Fortunately, live betting is available at many sports betting sites in the Philippines nowadays. If you opt to bet in real-time, unlike regular bets, you can make more informed decisions. So, as the game progresses you can enter your bets depending on the circumstances. Moreover, the odds here are more favorable than otherwise and you can choose from all sorts of bets. Whether you place a parlay, prop, or another bet, live betting often allows you to apply bonuses and play longer.
Exchange Bets Against Others
Exchange betting gives players the opportunity of placing bets against each other. So, they can assume the role of the bookmaker or an ordinary bettor. Players can offer odds in the betting exchange, but another player must be willing to match them. Moreover, players can trade in real-time and either BACK (buy) or LAY (sell) outcomes. In other words, you can place a bet on whether an event will happen or not. Unlike traditional bets, exchange bets offer players flexible odds and the opportunity to become the bookmaker.
Odds Formats
When you start betting on sports online, you’ll come across various types of betting odds. Basically, these are values that help you determine the possible payouts if you win. Also, odds express the probability of a certain game outcome occurring. Moreover, each sportsbook sets its own odds, so it’s important to know how to read them.
Sports betting odds come in several different formats, depending on the sportsbook, the sport you bet on, and your location. Of course, there are quite a few odds formats but in the Philippines most popular are fractional, American, and decimal odds.
Each format expresses odds values in a different way and is therefore calculated in a different way. For instance, fractional odds may look something like 4/1 (read: four to one). On the other hand, decimal odds usually look like this – 2.00. But regardless of that, all odds show the same thing.
Calculating Sports Betting Odds
Although there are many odds formats out there, on the market in the Philippines you’ll most often come across these:
Fractional Odds
Fractional odds, or also British or UK odds, are as the name suggests especially popular in the UK and Ireland. Moreover, this format shows values using fractions, hence the name. Usually, there’s a slash (/) or a hyphen (-) in the odds figure, like 4/1 for example. Simply put, fractional odds show the ratio between your potential profit and the size of your bet. So, you need to pay attention to the two numbers. If the first one is higher like in 4/1 odds, then your profit will be larger than your stake. Of course, vice versa also applies.
Your profit calculations will show you the pure profit, plus your initial stake. For example, if you place a $200 wager on a 4/1 fractional market, your profit will be 200 Ă— 4Ă·1 = 800. So, $800 plus your original stake of $200, gives a total of $1000. Likewise, if you place a $200 wager on a ÂĽ fractional market, your profit will be 200 Ă— 1Ă·4 = 50. In other words, $50 plus your original stake of $200, giving a total of $250.
American Odds
American odds, or also money line odds, are the default format in Canada and the United States. The odds values include either a positive sign (+) or a negative sign (-). Basically, the negative sign signifies the favorites and how much you need to stake to win $100. On the other hand, the positive sign is for the underdogs. Also, it shows the amount you can win if the bet is a $100 bet.
Just like with fractional odds, players get their profit in addition to the original stake. For example, if you want to place a bet on a team at -150, you will win $100 if you bet $150. So, the $100 profit plus the original $150 means you get $250 back. But if the odds are +150, then you would wager $100 to win $150. So you get $150 alongside the $100 you staked.
Decimal Odds
Decimal, or also European or Continental odds, are popular worldwide. But they’re especially popular in New Zealand, Canada, and Australia. Because of the simple format, these odds are perhaps the easiest to understand. Decimal odds values indicate the amount you win for every $1 wagered. However, your original stake is not a part of the profit, so calculating is very easy. If you stake $100 with 2.00 odds, just multiply your stake by that decimal number. So you get $100 × 2.00 and your total profit will be $200.
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Placing Sports Bets
First, if you are going to bet on sports you must know how exactly to do so. Actually, it’s pretty simple – pick a sport or a particular game, the bet type, and wager whatever amount you want. Moreover, it’s important to pay attention to the odds – the higher, the better. In simple terms, higher odds mean higher chances of winning.
So you can, for instance, choose a value bet which offers a higher edge over the bookmaker/opponent. Alternatively, arbitrage or also miracle bets are a great way to maximize the chances of winning. Basically, these are several bets on multiple sports betting sites, wagered in hopes to profit from at least one bookie. A great strategy to adopt in this case is to hedge your bets.
Hedging is to stake on both possible outcomes which, of course, means you’ll win one or the other. In addition, you can also adopt a staking plan like the Kelly Criterion, Martingale, fixed, and proportional stakes. This is a way to select your bet size so that it maximizes winning chances. Of course, there’s always a chance you’ll lose regardless of what you do.
Popular Betting Sports
Of course, you can bet on all sorts of sports online. Moreover, each sport offers different odds and betting options. But whatever your favorite is – you’ll certainly be able to bet. Whether it’s football, basketball, or hockey, like most gamblers in the Philippines prefer, there’s something for everyone. You can also bet on tennis, boxing, horse racing, MMA/UFC, rugby, eSports, cricket, baseball, and so on. Moreover, you can choose to bet on local or international games or events.
Sports Betting Bonuses and Promotions
Just like online casinos in the Philippines, sports betting sites also offer various bonuses and promotions. Usually, you can expect to receive a welcome bonus once you sign up for a new site. But a good bookie will also have a selection of other promotions like cashback and reload opportunities, free bets, deposit or no deposit bonuses, etc. Of course, these come with some terms and conditions. So besides picking the best offer, make sure you read the fine print first.
Choosing the Right Sports Betting Site
Besides making sure the bookie of your choice offers the sports and types of bets you want, remember to stay safe. So, checking that the sportsbook has a proper license is of utmost importance. Moreover, ensure the operator takes security measures seriously and has a good reputation online. Of course, don’t forget to evaluate the odds and choose a site that has player-friendly conditions.
Mobile Sports Betting
Usually, most online sports betting sites these days are mobile-friendly. So, you can place your bets on the go using a standard mobile browser. But the most competitive operators will also offer a mobile app for even more convenience when gambling. Of course, whether you choose the app or the mobile site, you’ll be able to access all regular features. In fact, you might get an extra bonus for choosing to play on mobile.
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How to Succeed in Sports Betting
Online sports betting is really fun but to get the most out of it you should do your research. So, learn the basics, adopt a betting strategy, and choose the right sportsbook for you. Moreover, you should set up a budget for both your money and time to ensure you stay responsible. Finally, start with smaller bets to reduce the risk while you’re still practicing.
Sports Betting Pros & Cons
Of course, sports betting online is super fun, especially for those who have a passion for sports. Moreover, it’s an excellent way to make money off of something you already enjoy. In addition, betting is the perfect fusion of skills and luck. However, even if you love a challenge, beware of gambling addiction which can creep up quickly.
Start Your Journey
Online sports betting can be loads of fun and help you make some money while you’re at it. Especially if you already love sports or are an online casino gambler, betting on sports might be for you. If you’re already looking for a betting destination, take a look at our reviews. A lot of online casinos in the Philippines nowadays also offer sportsbook services, so you can explore.
FAQ
Yes, addiction is a possibility, so practice responsible gambling to stay safe.
Absolutely, this is one of the main reasons why many bet on sports.
Some of the popular sports you can bet on are basketball, football, cricket, horse racing, etc.
Yes, generally, but you should always make sure that whatever betting site you choose is secure and licensed.
As long as you bet at a sportsbook licensed to offer gambling services, yes.
Odds show the probability of a certain outcome of a game/event to occur.
Yes, you can place bets, live stream events and access every other feature of your sportsbook through mobile devices, as long as the bookie is mobile-friendly.
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