Over the years, the world of Sport betting has evolved, has become more regulated, more entertaining, and secured. Some people find it as a means to get quick cash, but they just have to be lucky enough; while others see it as a means to get their daily living. Whichever the case might be, have you ever wondered how these really works? How do the Bookmakers remain in service, and how the betting system works? If so, then join us as we depth into this information.
The betting System
The Betting System entails the various methods by which a Punter can place his bet, and how this methods work.
Below are the several methods of staking, and how they’re in effect.
- Money Line:
The money line method applies only on those Sports which uses odds to determine the likeliness for one team to win, and the other to lose. What these means is that, here the bettor do not need to bet on the number of wins for the said match, rather, he or she is mindful of the likelihood for one team to win, and the other to lose.
What the Bookmakers do in this situation is: they will increase the amount to stake for the team more likely to win, and reduce the amount to stake for the other team which is less likely to win. To make both teams stand enthralling, they go ahead in increasing the returns for the team likely to lose, and reduce the returns for the team more likely to win.
Hence, if the bettor bets the odd to be in favour of the “Most likely” to win team, there is more certainty of he or she gaining back what they stake with a little extra; and if the bettor bets the odd to be in favor of the “Less Likely” to win team, if it sails through, will be rewarded with large sums.
Now staking your bet in Money Line, is known as “taking the money line”
- The Point Spread:
The point spread method was created by Bookmakers in the year 1940, and this was good relieved both for the punters and the Bookmakers. Prior to its creation, the only betting system that was practiced was the money line: this did not favour the Bookmakers nicely, as they end up releasing a lot of cash.
In the point spread method, the bettors are faced with not just staking who will win, but by how many score points the said team will win. Now this is how it works: when a team, let’s say “Chel” is expected to win “DL”, for those bettors who decides to stake on team “chel” to have their expected returns, the said teams has to “cover the spread”, which means the said team must win with at least the predetermined points.
Now the Bookmakers, increases the amount of points a “most likely” to win team is expected to meet or exceed during the game. Sometimes it reaches the peak of 20 points. Now if the “most likely” to win team wins the game with lesser points than what is stipulated, then the punters who bet in its favor goes home frowning.
However, for the “less likely” to win team, once it succeeds in winning the “most likely” to win team, the punters who bet for it are certain to go home smiling. This way, the Bookmakers try to ensure that Bettors are tempted to go for the “less likely” to win team.
- Totals and More:
Total and More concentrates mainly on the points garnered in the game, and is zero concerned for which team wins
Finally, when it comes to betting systems, the Bookmakers are always out there to create more fun, risky, and rewarding methods to engage bettors. Punters and users can follow the bet at home reviews to learn more intriguing betting systems.
How a Bookmaker Makes Gain Profits
- By creating odds that ensure equal numbers of bettors on both sides. This way, when one side loses, the money generated from the losing side will be used to pay off the winning side, while keeping their commission intact.
- By making the Point spread not to signify the strength of the said teams, but rather as a tool to increase the amount of bettors on both teams.
- There are stipulated margin, amongst others.