subject: The Odds On Betting Depends On The Sport [print this page] Betting on the outcome of a sporting event is an integral part of the sport itself, at least for the many millions who wager on their favourite sport each week.
They wager that their favoured team will defeat the competition, or sometimes they may even choose to bet against their team if they feel it likely that they will lose this one time.
In most European nations, betting on sports bookmaking (accepting wagers on sports as a profession) may be highly regulated and not considered to be criminal in nature. The odds placed on outcome of any sport will be considered in any of several formats. There is the US or American formula, which consists of money line odds.
This means that for each one hundred dollar amount wagered the return is whatever the odds are plus the original bet of one hundred dollars back, or say the odds are three to one then the bettor will expect to win his original one hundred back plus two hundred for a total of three hundred dollars won.
The European format is generally seen in decimal odds, which means a wager of one hundred dollars with odds of 3.22 would pay back three hundred twenty two dollars when the bettor wins. The UK formula is usually seen in fractions, which makes it quite simple to understand. If the odds are listed at 9/10 it would pay off nine dollars for a ten dollar bet or nineteen to return the original ten dollar wager.
Predicting the outcome of a sporting event is what betting on them is all about. Wagering that your team is superior to the next one is popular and a form of competition in its own right. There are some nations that ban sports betting and consider it an illegal activity based on the fact it may sway the outcome of a given sport. Bookkeeping in many European nations is highly regulated. Gambling by team members themselves is considered illegal most every where sports are played as it may produce a conflict of interest.
Betting on a favourite team over the internet is now commonly done everywhere on a daily basis. The problems that arise from this form of gambling include overspending as wagers are placed by using a credit card or some form of running line of credit that is backed up by either a credit card or money held in some form of trust. Many have over extended themselves while thinking they are betting on a "sure thing" only to find out they've lost a lot of money. This is not as devastating as placing bets with bookies locally, however. The bank will not come after losers and break their knee caps; they will simply cut off their line of credit.
Of all the most popular forms of sports betting, the office football pool or Super Bowl wagers placed on squares are the most in use, with basketball finals and baseball world series following closely behind. There is nothing against the law for an average adult to bet a few dollars on their favourite team as long as they have it to spare.
