If you’re thinking about betting on sports events through websites like W888, you should take the time first to understand at least the basic points of how the betting actually works.
In this article, we will attempt to discuss three important terms that beginners in sports betting must know about. These terms are, namely, the bookies, the bet value, and prediction. Let’s look at each of these three concepts and hopefully build up a solid foundation from which you can start enjoying the world of sports betting.
Term #1 – The Bookies
Bookies are a slang for “bookmaker.” These are the people that offer bets and are also the ones who control how people win money through the games.
Let’s take a theoretical betting scenario on the United States National Basketball Association as an example. Assume that you found a bookie offering a wager on the Los Angeles Lakers beating the Golden State Warriors on the Western Conference Finals.
You see that this particular bookie is offering giving the Lakers a 5-1 odds of winning and the Warriors 15-1. Not only does this express how likely each team is from winning against the other, it also lays out the spread – how much you will get in return if the odds you’ve put your money on becomesthe final result.
If you put $10 on Lakers or $20 on Warriors, you win, respectively, $50 and $300 on either scenario. You’d have to think about your pick carefully before you put in money, and that’s why it’s important to understand the next two terms.
Term #2 – Bet Value
When we talk about bet value, it means the actual value of the teams that you’re looking at. In a nutshell, a team that is in good condition is one that is of good value. On the other hand, a team that is not in its top form has lesser value than the other.
Factors that could erode a team’s value is an injury, or a number of injuries. Injuries can put players out of the game. If the team loses some of its best players to an injury, then that team has lesser value to offer to the people who wager on their odds of winning, for instance.
Of course, establishing a team’s value through research and study does not always guarantee a win, but it does raise the odds.
Term #3 – Prediction
In the end, sports betting is all about predicting the possibility of an outcome. You’ll find that bookies will be offering wagers that are not related to the final outcome of the game at all, but in certain scenarios.
Continuing from the Lakers/Warriors example, You might want to bet that the Lakers are behind by a certain of points against the Warriors at the end of the second quarter. You might want to bet on the chance that LeBron James scores a specific number of points at the end of the game, or at the first quarter only.
There are various options available for sports bettors. There are virtually no shortage of scenarios that bookies can put up on offer.
Understanding these three terms is needed in order to gain a solid background as to how sports betting works. Bear in mind that, in the end, betting is about doing research and analysis, before you put in your money through bookie websites like W888.