A number of online sports betting sites is rising every day, some of the most popular online casinos also offer sports betting features. Succeeding in sports betting is a process and it begins with speaking the language. It doesn’t matter how well you are versed in the particular sport if you want to succeed in betting, you need to know all the terms used in the niche, inside-out.
For instance, you need to know the types of sports bets that you can place; what odds mean and the different types of odds; some of the popular sports that you can bet on, etc, etc. Think of it as brushing up on a few French phrases and words before traveling to France. You need enough knowledge to navigate the landscape from the word go.
If you have been having a problem accomplishing this, this introductory guide will bring you up to speed. And it isn’t just for the new sports bettors; experienced Philippines bettors looking for legal and licensed sports betting sites can get very useful information here too!
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What is Sports Betting?
First things first, what is sports betting? It is a form of gambling that involves placing a bet (also known as a wager) on the result of a sporting event. While betting, is to win some extra cash from the original bet placed or at least have some fun from it if you don’t win cash. With the exemption of ‘draw no bet’, ‘spread betting’, and a few others, each wager usually has two likely outcomes. You either win or lose!
Popular Types of Sports Betting
Gambling in general or in most cases involves betting on sporting events such as football, rugby, tennis, cricket, and other sports. But in other cases, it could involve betting on entertainment and other trends in the world. For example, you could bet on the winner of an election, or singing/dancing event. You could also bet on finance, such as how a certain share will trade after one minute.
In our case, we are going to focus on sports betting and in order to understand how to bet on these events, you need to understand the different types of sports betting.
Live Betting
It is one of the most common forms of betting and usually involves betting on live events i.e., placing a bet as the game(s) play. It is very common with sports bettors in not only the Philippines but all over the world because it offers one better odds. These odds tend to change depending on how events unfold in the sport that you are betting on.
Pre-match Betting
Pre-match betting is the opposite of live betting. For this, it involves betting on an event before it kicks off. Popular with bettors who are anxious and don’t wish to stay seated at the edge of their seats as they follow the events unfold in real-time.
Exchange Betting
In exchange betting, you are simply betting against other bettors and not the sportsbook. What happens is that the sportsbook (usually referred to as the betting exchange) offers you the platform to place your bet. Once you’ve placed your bet – say you are supporting Arsenal to win against Watford (backing) – another player will come and bet and say Watford will win the match (Lay your bet). Whoever wins gets his/her cash, minus the betting exchange’s fee. It’s an interesting way of betting but you need to fully understand the concept if you wish to make some money out of it.
Matched Betting
This is yet another common form of betting that you need to explore. It simply involves placing risk-free bets in return for small wins! Did you read RISK-FREE? Absolutely!
What usually happens with this is that you’ll be exploiting the incentives offered by the bookmaker. Using this cash, you can place multiple bets on the same sporting event such that regardless of the outcome, you end up with a profit, albeit with small margins.
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Sports Betting Odds
Even with all the knowledge of the types of sports that you can bet, it’s all useless if you don’t have a proper understanding of odds. Sports betting odds are an integral part of any bet that you place online, and only odds can dictate whether a bet is worth placing or not. How much you win is dependent on the odds and the amount you stake. Furthermore, odds are usually used by some players to determine the likelihood of any given outcome occurring.
When wagering online, these are some of the most common types of odds that you will come across.
Decimal Odds
They are usually expressed in decimal format(s). For instance, Arsenal (2.0) Draw (3.5) Watford (5.0) When you place your bet, the amount you wager is usually multiplied by the stake to give you the expected return (inclusive of the original stake). So for instance, a stake of $10 on Arsenal will give you a return of $20.
Fractional Odds
They are expressed in fractional format(s). The decimal odds above in fraction format would be; Arsenal (1/1) Draw (11/4) Watford (4/1). These types of odds are very common in the UK and are usually interpreted as follows. For every $1 you stake for Arsenal to win, you get an extra $1. For every $4 you stake for a draw, you get $11 in return. For every $1 you stake on Watford, you get $4 in return.
In other words, the number on the left indicates the potential return, while the number on the right is the stake that you will make.
American Odds
They are also referred to as money line bets and as the name suggests are very popular with American bettors. To get a better understanding of this, you need to know that the bets usually consider the ‘favorites’ and ‘underdogs’ and they always use a baseline value of $100. So when you are betting for the favorites, you are risking your cash to win $100, and with the underdogs, you are risking $100 to win the intended cash.
For instance, odds indicated as +400 (Watford are your underdogs this case), mean that you are risking only $100 to win $400. So you either win $400 or lose $100. If you are betting for Arsenal, you must risk $100 to win $100.
Popular Sports to Bet On
Having looked at all the basics, which are some of the popular sporting events that you can bet on? In the Philippines, bettors seem to prefer the following sporting events:
- Football – It’s perhaps the most popular form of sports betting in the Philippines given that there are more than 100,000 sporting activities throughout the year
- Basketball -This is pretty obvious given that basketball is considered to be the Philippines most popular sporting event
- Tennis – Also widely played by the Filipinos, tennis betting is very popular among the bettors in the country
- Boxing – Emmanuel Dapidran Pacquiao otherwise known as Manny Pacquiao is a famed Philippines based boxer. He just showed how the Filipinos can box and it, therefore, indicates how the sport is very popular among the Filipinos
- Other sports – that you can bet on include martial arts, ice skating, volleyball, billiards, eSports, trotting, Formula 1, cricket, golf, futsal, horse racing, greyhound racing, rugby, among many others.
Getting Started With Online Betting
To the experienced bettor, wagering is no big deal. Most of them have done it a few hundred times before and it is usually a direct and straightforward process. However, for those of you starting out, it may be a little complicated. But it shouldn’t be!
Once you’ve fully understood how to analyze the odds, known the different rules of the sports that you’d like to bet, and identified your preferred sports bet, you are ready to place your first bet. And here’s how to.
How to Place a Bet Online
- Step 1 – Identify the sportsbook that you’d like to bet from. If you are not sure how to pick one refer to the next section
- Step 2 – Create an account at the sportsbook
- Step 3 – Make your initial deposit at the sportsbook. You can do this by picking from the available payment options
- Step 4 – Visit the betting section, pick your sport, and pick the market that you’d like to wager on. This will be automatically added to your bet slip
- Step 5 – Lastly, enter the amount you’d like to stake and confirm to place your bet
What Markets Can You Bet On?
This varies from one sporting event to another as there are different rules involved in each sport. However, there are those markets that cut across the board and include the following.
Event Result
A very popular market and it simply involves predicting the outcome of the event. It can be team A or B to win; to draw, or someone will win the event
Overs/Unders
You are betting that a number of events will occur. For example, over 2 goals, over 5 wickets, over 30 points, etc.
Winning Margin
Do you have a strong feeling that team A will win by at least 2 goals or points? Why don’t you use the winning margin market to place a bet and win yourself some cash?
Other markets that you can bet on include:
- Draw no Bet
- Both Teams to Score
- To win from behind
- Half Time-Full Time result
- Double Chance
Bonuses in Sports Betting
Sports betting, like online casino gaming, is full of bonuses and promotions. Right from the moment you sign up at the site to the time that you spend at the site, you are bound to be treated to a number of bonuses and promotions. And given that there are hundreds of sportsbooks online, you are bound to come across different types of offers. Some of the most common ones include.
Welcome Bonus
This is cash awarded to you when you sign up at the sportsbook. A welcome bonus can either be awarded in the form of free cash or a match deposit bonus. However, the most important fact to note is that you can always use/withdraw it to bet as soon as you’ve met the set wagering requirements.
Free Bet Bonus
Usually awarded as part of the casino’s promotion campaign and involves giving you free bet credits as opposed to free cash.
Draw No Bet Offers
They are usually offered in the form of special promotions. What draws no bet offers usually entail is you get back your full stake if the match that you are wagering on ends in a draw.
Choosing the Right Betting Site for Philippines Bettors
So what exactly do you look for in a betting site? How do you know the right site from the wrong one? This section gives you a low down on some of the factors that you need to consider.
License
The site needs to have a license issued by one of the reputable licensing bodies in the world. Look at Malta Gaming Authority, Government of Curacao, UK Gambling Commission among others
Bonuses and Promotions and their Terms and Conditions
Bonuses have become very standard in the industry, so what sets an online sportsbook apart from the rest are the terms and conditions. They need to be achievable and fair to both parties
Sporting Events and Markets Covered
They need to be more than 150 markets spread across at least 35 sporting events. As a rule of thumb, the more, the merrier
Odds Margin
As we stated at the start of this sports betting guide, odds are everything in when you are wagering. Therefore, the better the odds margin, the better the sportsbook
Mobile betting and other features such as in-play betting, live streaming, and cashout should also be considered. How fast and responsive is the mobile platform? How smooth is the live streaming feature? Is the Cashout feature responsive or it keeps hanging?
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Mobile Betting
Mobile betting is the shiznit. Let’s state the obvious, they are the ultimate definition of flexible betting and enable you to take your bet with you whenever you feel like. When combined with features such as live betting and cash-out, you stand a chance of making a killing out of it. Live betting will ensure you get improved odds for your bet, while the cash-out feature ensures that you lock in profits even before the end of the event.
When picking a sports betting site, you need to ensure that they have a fully functional mobile platform. It doesn’t need to have an application, but rather a simple, very responsive and easy to use mobile platform will do.
Can Sports Betting Be Profitable?
Of course, it can be! Why would you involve in an activity that’s not profitable in the long term? However, sports betting can also lead to serious losses, especially when you are not careful and thoughtful about some of the aspects below.
To ensure that sports betting is a profitable venture, these are some of the important aspects that you need to consider.
Markets
You need to analyze and identify the best markets to bet on. Not every bet that you have to place online needs to end with a loss. With markets such as the Asian Goal Line, you can reduce the house edge by up to 50%.
Value of Odds
Before placing a bet, you need to identify the value of odds and how they relate to the sporting events
High quality Sportsbook site
Picking the right betting site goes a long way in determining how profitable your betting experience will be. Sites that have offered better odds margins, a wide variety of markets and other features such as cash-out (partial and full), live betting, and live streaming should be at the top of the list
Pros and Cons of Online Sports Betting
Pros
- Convenience is the biggest factor
- Bonuses and promotions are usually offered
- Plenty of markets and sporting events to bet on
- Round the clock customer support services available
Cons
- Safety and security remains to be a big challenge
- Can lead to compulsive gambling
Conclusion
All in all, sports betting can be difficult or complicated, but if done right, this form of pastime can also be rewarding. The guide above has explained all that you need to have an easy time betting online – and perhaps lock in some profit. By avoiding some of the tips shared above, you may be able to get results fast in no time.
FAQ
In order to start betting online, you’ll need to follow the steps below:
Step 1: Identify an online sportsbook that fits your needs. Ensure that it’s also licensed
Step 2: Sign up at the site to have an account
Step 3: Make a deposit using the available payment options
Step 4: Place your bet on your favorite sporting event
The typical waiting time is 2-5 minutes. After that, you can start placing your bets. However, in order to withdraw your winnings, you’ll have to wait until the KYC verification process is complete. This could take anywhere between 12 hours to 24 hours.
The legality of online sports betting in the Philippines is somewhat a grey area. However, anyone who’s legally 18 years and above can wager online, as long as it’s from a foreign-based sportsbook.
One of the mandatory requirements for any online sportsbook is to ensure that all its members are paid a fair share of their wins. However, not all sites can guarantee you your payout. In order to ensure that you are paid your winnings, always ensure the site you are visiting is fully licensed.
Yes, it’s possible. However, you need to opt into the free promotions and claim the bonuses on offer to do this.
It varies from one online betting site to another. However, most have a maximum win limit of between $300,000 and $1,000,000.
Definitely, yes! However, you don’t have to be addicted. With several measures put in place, including gambling responsibly feature, you can always bet safely without the risk of addiction.
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