At some point, all professional sports bettors were rookies first. They did their research and read, learn, and practice. They gave an ample amount of time to become better each day and it won’t happen if they just bet randomly without considering the fundamentals.
If you are a rookie, you are in luck because you will learn all there is to know about sports betting and its components here in this article.
Sports Betting in Singapore is famous because of its nature. The thrill of waiting for the result of the match, the fun whenever you place your bet and hope that it will turn out okay, and the luxury it gives when you win.
Even so since the early times, people do sports betting. One example of this is the colosseum in Rome, Italy. The Colosseum was used for sports in which the Gladiators battled their way to victory with the cost of their lives. While Gladiators kill each other, the elite people put wages on which Gladiator will win.
Now, in modern times sports betting has evolved into a much organized and systematic way. You can have variations unlike in the early times where the bets are just between who will lose and who will win.
There are different sports betting categories in which you can choose from. You can also select from different sports, different teams, different players, and possible outcomes of the match.
Today Sports betting is famous all around the world especially in the countries of Europe, the United States, and Asia. If you want to be a professional then you have to have the skills, and knowledge for it.
How do sports betting work?
Sports betting may look a little confusing if you don’t know how it works. But if you really look at it, it is very simple.
So how do sports betting work? Usually, sports betting is present in every arena where there is a sports event big or small. But because of continuous innovation, online sports betting was born. Online bookies are a platform that gives sports betting services, it is called a sportsbook.
Top Singapore Sportsbook contains different sports and leagues that you can place your bet on. But before you can place a bet you have to deposit money in your account.
After depositing money, you can now choose your team, player, or outcome of the match.
If you win, then the corresponding amount will be computed on which odds you used. There’s decimal, fraction, and American odds.
So that’s it. That is how sports betting works. But for it to work wonders to you, you need to know how to increase your chances of winning.
Understand The Different Types of Odds
If you are new to sports betting or would like to learn more about how it works, one of the things you will soon notice is that there are different types of odds. These odds that you will encounter are not just some random numbers but tell you how likely something is to happen and how much you could win if your bet is successful.
American Odds
American odds are not as common, but they are the standard format in the betting industry in the United States. Unlike the other odds systems, they feature the plus (+) and minus (-) symbols, the former signifying the underdog and the latter – the favorites. Such odds also allow gauging the amount of money one is likely to win depending on the size of the bet.
- How American Odds Work:
- Positive (+) odds (e.g., +150) represent the underdog. This shows how much profit you’ll make if you bet $100.
- Negative (-) odds (e.g., -120) indicate the favorite. This tells you how much you need to bet to win $100.
Formula for American Odds:
- For positive odds:
Profit = (Stake × Odds) ÷ 100 - For negative odds:
Profit = (Stake ÷ |Odds|) × 100
Example:
- A bet on +200 means for every $100 you wager, you’ll win $200 (plus your original $100 back).
- A bet on -150 means you need to bet $150 to make a $100 profit.
Decimal Odds
Decimal odds are popular in Europe, Canada and Australia – they are easy to understand. Unlike American odds with their plus and minus signs, decimal odds present everything in one number that shows your total return, including the stake, for each dollar that you bet.
How Decimal Odds Work:
- Decimal odds like 1.50 or 2.75 show the total payout, including your original bet.
- If the odds are 2.00, a $1 bet will return $2—your original $1 plus $1 profit.
Formula for Decimal Odds:
Total Payout = Stake × Decimal Odds
Profit = (Stake × Decimal Odds) – Stake
Example:
- If you bet $50 on odds of 3.50, your total payout will be:
$50 × 3.50 = $175
Your profit is: $175 – $50 = $125
Fractional Odds
Fractional odds are most commonly used in the UK and Ireland, especially for looking at horse races. These odds are shown as a fraction, which is why they scare off beginners at first. However, on the other hand, they are simpler than other types as soon as you understand the way they are calculated.
How Fractional Odds Work:
- The fraction 5/1 (read as “five-to-one”) means you’ll make $5 in profit for every $1 bet.
- If the odds are 7/4, for every $4 you bet, you’ll win $7.
Formula for Fractional Odds:
Profit = (Stake × Numerator) ÷ Denominator
Total Payout = Profit + Stake
Example:
- A $10 bet on 5/1 odds will give you:
(10 × 5) ÷ 1 = $50 profit
Total payout: $50 + $10 = $60
Things you should consider in sports betting
The first thing that you should consider in sports betting is your budget. You should always take track of how much you are betting and how much you are losing.
Set a betting limit in which you have to stop even if you are on a losing streak or on a winning streak.
The second thing you need to consider in sports betting is your knowledge of the sports and betting category. That way, you will minimize your chances of losing.
The third and last thing you need to do is to research the teams, players, and management (coaching staff). These three are very important especially if you want to predict the outcome of the match.
Frequently Asked Questions: Online Sports Betting
Is Solarbet the best online betting site in Singapore?
The short answer is yes. There are so many top bookmakers in Singapore right now, and choosing the best one is challenging. There are several more online bookies worth checking out. Solarbet is the best option among Singaporean online bettors.
Is online betting at Solarbet legal in Singapore?
The short answer is yes. When it comes to gambling laws in Singapore, there are many gray areas. Singapore Pools is the only licensed pool in this country. Players, on the other hand, may now place bets with a choice of overseas bookies. Therefore, Solarbet is one of the most reputable and trusted online sportsbooks to place bets on major sporting events.
How do I make a deposit to my Solarbet betting account?
In Singapore, you can add funds to your online betting accounts through a range of various payment channels. Credit/debit cards, bank transfers, and e-wallets are the most commonly used payment options.
Solarbet, a trusted online casino Singapore lets you make use of a crypto wallet. In most circumstances, the available options are both quick and secure.
Is Singapore dollar currency accepted at Solarbet?
Yes! Solarbet Singapore welcomes players from Singapore and accepts deposits in Singapore dollars (SGD).
However, in some cases, it depends totally on the bookmaker you are dealing with. Only a few betting sites, including Solarbet, accept Singapore dollars as payment. It is not impossible to discover a website for those who do not have euros or dollars since there are always some options.
Is it possible to get a sign-up bonus at the Solarbet betting site?
Absolutely! Many of the trusted online betting sites in Singapore, particularly Solarbet, are present in the Singaporean market and offer some types of introductory rewards. Before signing up, it is usually a good idea to read the tiny print. Consider the benefits in relation to the time and money necessary to understand the potential rewards.
Can I Claim a Sign-Up Bonus at Singaporean Betting Sites?
Absolutely! Many of the online betting singapore bookmakers present in the Singaporean market today provide some kind of sign-up bonus. The fine print should always be reviewed before enrolling. Consider the benefits versus the time and money required to reap the possible returns.
Now that you know a little bit about sports betting, you need to practice predicting matches in sports. If you became accurate on reading the momentum, win and loss card, and the team head to head stats.
It may look easy but trust me if you didn’t read the information about sports betting, you will never become an effective sports bettor.
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