Placing bets on the favourite team or declared favourite sport is nowadays simply a matter of a mouse click. After all, there are numerous sports betting providers on the Internet to satisfy the passion for betting, as the betting volume has multiplied explosively with the advent of online betting. In this article, the reader learns everything worth knowing about the opportunities and risks of online sports betting.
Betting – what is actually meant by betting?
In its original form, betting represents a contract-like agreement between two people who have different, possibly even opposing opinions on a certain matter – such as the outcome of a certain event – and cannot agree on who should be proved right. In this situation, it is a good idea to make a small bet in order to determine, on the one hand, who will objectively have the better end in this matter and, on the other hand, to give the winner of the bet a certain degree of satisfaction.
For example, if the disputed point is the disputed outcome of a sporting event, a so-called sports bet is used. The rules are – so far – simple: the opponent who can correctly predict the outcome of the event or the winner wins the bet.
If bets are made not only for the sake of honour and pleasure, but also for money or monetary value, the winner receives the bet placed by the opposing bettor and, moreover, gets his own stake back, which usually represents a psychologically justifiable sense of triumph for the winner.
How bets are organised by sports betting providers
However, it is a fact that by far not always when the desire to bet overcomes you, a congenial betting partner can be found immediately, who, on top of everything else, is waiting for the opposite outcome of the upcoming, mostly sportive ones.
Because the betting needs of the individual in such a situation should be satisfied and it was also noticed that good money can be earned with betting, it was decided to institutionalize the matter and to establish so-called bookmakers or betting offices everywhere.
Their task is to act as a kind of platform where the friends of betting can come together and enjoy their betting pleasure undisturbed. To this end, the betting offices issue bets for certain upcoming sporting events, such as a football match. Every betting friend can now accept a bet that seems suitable to him before the end of the acceptance period, if he is willing and able to place a bet of any amount.
In this context, so-called bookmakers, also known as sports betting providers, usually use computer-aided calculation and publication of so-called betting odds for all bets, which, similar to the stock market prices for shares, reflect the probable chance of winning the respective bet, whereby the current circumstances of the competition – for example an injured participant – are also taken into account when calculating the betting odds.
These process chains function in the same way on the world wide web, only as online bets and in a manner independent of time and place.