If you thought that betting in sports was a phenomenon that took place only in the dark alleys of the underworld you would be wrong. Sports betting is rampant in America and Europe. In the USA, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a scheme except for in a few states.
Supporters of legitimate sports betting by and large regard it as a hobby for sports fans that add to their interests in particular sporting events. As a consequence it proves beneficial for the leagues, the teams and players as it helps in increasing the attendance in the stadium and even television. On the other hand, the adversaries of sports betting are apprehensive that the general ramifications of betting can be very unfavorable, as it intimidates the integrity of recreational and professional sport. Opponents of sports betting give instances of past events which include frequent attempts made by the bookmakers to fix matches to gain profit from betting lines.
Over time, betting has evolved due to the revolutionizing changes in internet technology. With the advent of online sports books, people now have easy access to sports betting odds or betting lines. Betting lines and betting odds are one and the same thing, the US sports uses the term ‘betting lines’ whereas the UK refers to them as odds. Every country has a different set of formats for sports betting odds, such as the UK format (fractional odds), the American format (moneyline odds) or the European format (decimal odds).
American sports betting odds are also referred to as Money line odds and work in a different way for favorites and underdogs. The American odds for betting on a favorite work by showing how much money you would have to risk in order to win say $100. It means odds offered on a particular event result are $110, that means in order to win $100 you would have to bet $110 and if you win you get the entire sum of $210. In the case of a bet on an underdog, the betting odds offered are say $250, this means you bet $100 on your team to win and if they win then you get the sum of $350. In America, a ‘-‘ in front of the number represents the favorites or the home team while a ‘+’ indicates the underdogs.
Like all things where money is at stake, betting has ruined a lot of lives and also made quite a few people lose all their savings and money on this addiction, but many people have also made a fortune. Thus, it involves a lot of sensibility, intelligence and self-restraint to succeed in the field of sports betting.
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