Sport betting is the act of predicting the results of a sport event and staking on the assumed result. Sport betting can sometimes be extended to non athletic events as well.
Scandals involved in sport betting
There have been numerous scandals involved in sport betting. These scandals end up lowering the integrity of sporting events. The following are ways scandals affect the integrity of sports:
The actions of players are fixed in favour of the desired outcome of the event.
Players change the score by purposely missing shots.
The total result of the match is adjusted to suit the desirable bet prediction.
Players sometimes get bad calls from regulating officials at crucial moments. This is mostly done to tune the game to specific outcomes.
Record of bets
- Individuals stake on sports legally via a sports book or illegally through privately operated organizations.
- The book is a record of the wagers made by each bettor.
- The sports book is used to track stakes made, payouts, deposits and debts.
- Legal books that run online in a different jurisdiction from their clients get to evade some gaming laws. This is why online firms reside in countries with lesser taxation rates.
Odds involved in sport betting
The following odds are used to portray bets with different outcomes.
- Decimal odds
The decimal odds also known as European format are the ratio of the full payout to the stakes in a decimal format. They are put in use in Europe, Australia and Canada.
- Fractional odds.
These are used by British bookmakers. These odds are the ratio of amount won to the stake made. The odds of 2/2 are an even bet. Fractional odds are also referred to as UK format.
- Money line odds.
This is also known as American format. These odds are placed to favour a particular player or team. There is always the underdog and the favourite.
Placements of bets
- Spread betting: These are wager made in opposition to the spread. The spread is assigned by a bookmaker who favours one team and lowers another.
- Money line bets: They do not require a spread. They are just based on the sole winner of the game.The likely team to win goes with lesser odds than those unlikely to win. This scheme is to attract players to choose the teams less likely to win.
The popular placements used in American bets include:
- Total bets: These bets are made on the end point score between both teams. The bet however becomes a push when the combined total is the same as proposed total.
- Proposition bets: These bets are made on specific outcomes and not on final score.
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