Sports betting, along with arbitrage has given rise to controversy in the past, but regardless of the smoke and mirrors surrounding them, are perfectly legal in most countries around the world. One of the major and notable countries where a betting scheme (like sports betting) is illegal in the United States of America.
Online betting, on the other hand, is legal in the US, and what is interesting is that the law against sports betting in the US, does not apply in Nevada. There is no federal law against online betting and so that is why gambling online in America is perfectly legal. This means that sports arbitrage (sports betting online) is legal. It is believed that over 200 billion USD is made through sports betting every year, despite there being some legal issues.
In the UK though, Sports betting is 100% legal and according to The Gaudian, the industry brings in 14 billion GBP per year – nothing short of a fortune! So, what is Sports betting and how can you get your piece of the pie? Let’s take a closer look.
An umbrella phrase that is used for the activity of predicting a sporting event by placing a wager on its outcome for the purpose of winning money. There is no sport you can’t bet on, but the popular and most lucrative ones include:
In Europe, football and horse racing are the most frequently betted on sports, and one can even go far as saying that gambling is what has kept horse racing relevant after all this time. The latest report via Horse Racing International Federation shows that horse racing generates +- 115 billion USD every year, which is proof that it’s still one of the most popular sports in the world.
Apart from spread betting and “draw no bet” wagers, betting on sports has two possible results:
Wagers can be based on a certain fixture, the outcome of a tournament, or what actually happens in a sports fixture – this is known as live sports betting.
With football as an example, live sports betting allows an individual to bet on who will win the match, whether it will be a draw, by how many goals will a team win, who will score first and which player(s) will score first in a match. The possibilities and odds are vast and so sports betting it’s quite a risk but also an art. In the end, though, it’s always a gamble.
Individuals who place bets on sports are known as bettors or punters. Types of betting include the following:
All the above have their own set of rules and are reasonably complex. So, it’s best to research each one yourself to establish which of them will suit you best.
This is the company that provides sports betting services, and there are a lot of them! They are generally referred to as bookies. Odds are set by the bookie in a marketplace called a betting exchange. A bookmaker is essentially the middleman. They effectively determine the price of bets.
Bookmakers make their money by charging a transaction fee for every bet that is placed. This fee is known as a “vigorish”. In some cases, bookmakers may even lend money to bettors or punters and it’s not hard to guess how they make their money that way.
Putting a different spin on sports betting, is sports arbitrage. This method of investing derives from arbitrage trading but through the use of online sports betting. A unique style of arbitrage for people who want to earn a passive income with minor risk. The average rate of return with Autobetting is roughly 5-10% a month, increasing as your knowledge and skill increases. Our program scans odds of many bookmakers and calculates arbitrages for you.
Thanks to the power of compounding, you earn progressively more with every month that passes. Our platform assists individuals in betting on all sides of a match with different bookmakers. All bookmakers have different odds as explained above, allowing you to make a decent profit betting on all sides. We’ve even put together a free guide to help paint a clearer picture.