How does sports betting work? – Everything you need to know

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For many, sports betting is just as much a part of sport as priests are to church. More than half of all Germans have already placed a bet, not always only in the field of sports, but also on the ESC or e-sports. So, in our opinion, it is high time to explain how sports betting works. Our contribution is aimed at both beginners and advanced users.

We will first explain the absolute basics of sports betting, such as odds, bet types and bookmakers. Then we explain the different betting markets and what you can bet on. Of course, we will also give you tips to increase your chances of winning when betting. We do not assume any previous knowledge for our contribution.

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The basics of sports betting explained simply

sports betting

Before we look at the different parts of a sports bet, here is a quick definition and a little history lesson. So betting is about the outcome of a sporting event.

The dictionary describes the term “bet” as follows: “An agreement between two people according to which the person who is right with his claim receives something (e.g. money) from another person.”

The word “wetti” or “wete” or “wet” is already used in Old and Middle High German . Translated, it is about making a commitment to pay off your own debts. Over time, Wette developed from this, which in turn led to the creation of other words. The word “race” has been around since 15th century, the words “race” and “contest” since 16th century and finally the word “competition” since the 18th century.

The most important things at a glance:

  • Sports betting has always had a high entertainment value
  • It is an agreement about the results of a sporting event
  • The betting odds are set by a bookmaker
  • The online sports betting market is growing faster than the offline market
  • Only bet with reputable providers

Who or what is the bookmaker?

One thing is very clear from the definition, sports betting is an agreement between two parties. The two parties are usually in competition with each other with their predictions. In modern betting, especially on the internet, the process is a bit different. As the name suggests, the bookmaker gives you a number of different bets to choose from, but does not bet against you.

On the website of the sports betting provider, such as Cazimbo , you only decide on which events and, above all, on which outcome you want to place your bet. The tip is your prediction and the money you bet. Your competition is the bookmaker (also called bookie). The bookmaker offers you odds to bet against them, the more likely the outcome of a match, the lower the odds and vice versa. The bookmaker and bookmaker are usually the same provider, however this is not always the case.

Sports betting odds explained

We’ve talked a lot about quotas, but what exactly is behind it? Betting odds are the offers that the betting provider or bookmaker makes to you. Odds indicate how likely the bookmaker estimates the outcome of a bet. The higher the betting odds, the less likely it is that this event will occur. You can easily calculate the percentage probability using the following formula:

  • Probability = 1 / Odds * 100
  • First example: Odds 1.50 = 71.42% probability
  • Second example: Odds 2.00 = 50% probability
  • Third example: Odds 5.00 = 20% probability

But how does sports betting work now and what do these odds and probabilities tell you? Betting providers themselves define whether bets are safe or not. You basically do the same thing when you compare odds. If you think the bookmaker is underestimating the odds, then you have found the ideal odds and odds for your bet slip. How so? On the contrary, the bookmaker overestimates its own odds. The betting showdown begins.

At this point we want to point out that we explain sports betting in the simplest form. For example, if you want to know how likely your prediction is or how sports experts analyze the different predictions, you should also consult sports predictions.

Why do different bookmakers offer different odds?

The quotas of the providers are influenced on the one hand by the analysis of the respective company, here it can happen that the different providers come to different results. Based on the results of the analysis, the odds are then determined, which could differ significantly due to the different probabilities.

Bonuses offered by sports betting providers can also have an impact on the odds. In our comparison of providers, we noticed that bookmakers with many bonuses usually have lower odds. The bonus is therefore offset against the odds to a certain extent. We clearly recommend comparing the providers and conditions here.

The last reason for the different odds is quite simple: marketing. The online sports betting market is very competitive and one of the best ways to attract more customers is to offer better odds. Here, too, we recommend interested parties to compare the odds of the different providers.

How does wagering work?

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The final component of a bet is the actual stake you place on the outcome of the event. The odds play a central role here, because the possible profit is calculated in combination with your stake. But how exactly does the profit calculation of a sports bet work? As an example for our calculations we use a simple single bet, accumulator bets or system bets are calculated differently, more on that later.

  • Profit = Odds * Stake
  • First example: Odds 1.50 * 10 euros = 15 euros profit
  • Second example: Odds 2.00 * 4 euros stake = 16 euros profit
  • Third example: Odds 5.00 * 5 euros stake = 25 euros profit

It also often happens that most bookmakers (not all) still charge a fee of 5% or even 5.3%, which is deducted either from the capital itself or later from the profit. This procedure is related to the betting tax applicable to online sports betting in Germany, which bookmakers have to pay and sometimes pass on to the customer. We started the article with the question: “How does sports betting work?”. By now you should at least have a basic understanding.

Different bets briefly explained

In the second part of our article we deal with the different betting options. We explained the single bet in more detail in the first part, now we will look at the other types of bets that allow you to fine-tune your individual bets. To give you a better feel for sports betting, we will explain the following types in more detail:

  • Single bet: a tip on a single event
  • Combination bet: several single bets combined
  • System bet: several combination bets as betting series

The simple single bet

With a single bet you can place a bet of your choice on the bet slip, this type of bettor is for live betting. With live betting, you can place a bet during the game in order to react to the course of the game. In a single bet, you make a single prediction for a single sporting event.

Which one you can choose depends on the bets offered by the bookmaker. In part three, we’ll cover the different offerings in more detail. With a single bet, there is basically not much to consider. If you are correct, your tip wins.

As a rule, the bookmaker will show you the possible winnings before you submit your tip. So you usually don’t have to calculate your profit yourself. However, there is a small danger lurking in single bets. The gambling providers in Germany also like to get creative with the individual bets. So you sometimes have the opportunity to bet on the following events: The home team will win and both teams will score. You can then place a single bet on that outcome.

Notice something? If so, then you begin to understand how sports betting works and also where the stumbling blocks lie. In fact, the example mentioned is a hidden accumulator bet. You are betting on two events that must take place at the same time. On the one hand, the home team has to win. On the other hand, both teams must score a goal. So let’s take a look at the accumulator bets.

The combi bet – a chance for higher odds?

We have already explained the heart of the combination bet. Because here, as the name suggests, you combine several single bets. If you choose two of them, you play a 2-card combo. If you decide to make three predictions, you play a 3 card combo. And so on.

Here you have no limits. As with everything in life, there are advantages and disadvantages to accumulator bets. If only one bet is lost, the entire combination bet is lost. However, if all single bets in the combination are successful, you can look forward to a significantly higher profit than with three single bets. You can calculate the profit for a combination bet using the following 3-way combination example:

  • Odds of the three picks: 1.50 / 2.00 / 2.50
  • Use for the 3-combo: 10 euros
  • Calculation: odds 1 * 2 * 3 * stake
  • Specifically: 1.50 * 2.00 * 2.50 * 10 euros
  • Winnings: 75.00 euros

With a combination bet, you can significantly increase your winnings in sports betting. However, the price is an increased risk as the entire accumulator bet is lost if just one single bet fails. On the other hand, sometimes you need to place a combo bet in order to reach certain odds, for example to fulfill a bonus condition. Therefore you should always compare the different bonus services of the providers. But now everything revolves around the third variant.

The system bet – the safe alternative to the combination bet?

Despite the combination of individual bets, it is possible to minimize risks to a certain extent. Therefore, using the system for sports betting is the third and most complex variant of your betting slip. In principle, a system bet is nothing more than a combination of several combination bets.

The various possibilities presented by a chosen system when placing bets are referred to as betting series. System bets come in many different forms. So that we can explain sports betting to you as precisely as possible at the end of the day, here are a few examples:

  • Two-Thirds System: Two-thirds of a single bet must be valid
  • 3 out of 4 system: 3 out of 4 tips must win
  • 3 out of 5 system: 3 out of 5 betting tips must be successful

So far, explaining sports betting has been relatively simple. But now you need to know how the individual systems affect the number of betting series, i.e. the individual combinations. Using the example of the system bet 2 out of 3, three different combinations (and thus winnings) are possible:

  • First possibility: Your first and second tip are correct
  • Second possibility: Your second and third tip are correct
  • Third possibility: Your first and third tip are correct

The number of possible combinations, in turn, varies and is largely system dependent. For example, 3 out of 5 bets will result in ten different betting series, with each series containing all three of the five selections, only the arrangement is different.

How do stakes and winnings calculation work with system bets?

System bet winnings are easier to determine than to explain. Each betting series is considered an accumulator bet. The winnings from all successful bets are then added to the total winnings, in contrast to other bets they are not multiplied.

If you are now wondering why you should place a combination bet instead of a system bet, the answer is simple: it depends on your stake. Because with the system bet you have to pay for all possible betting series. The best way to illustrate this is with a comparison.

  • Triple combination: 3 picks, €10 bet
  • 2 out of 3 system: 3 tips and 3 betting series
  • Total bet: €10 per series, total: €30

With system bets you reduce the risk of losing the entire betting slip if you only lose one bet, but you also have to accept a higher stake, which is proportionately higher than with a combination bet. You can usually adjust the stake for the individual betting series individually, but this also reduces your profit.

The wide variety of sports betting

bet

The last part of our sports betting post covers the wide variety of different betting options with a focus on the different betting markets. We also give you a brief explanation of how to place bets online.

What are handicap bets?

Trend Betting 1X2 is a betting classic. You can bet on the home team to win (1), a draw (X) or on the away team to win (2). When it comes to trend betting, that’s not all. Because trend bets, there are a few other betting markets that can be used to increase betting odds or reduce risk:

  • Double Chance: Reduce 3 chances to 2
  • Tie, No Bet: In the event of a tie, the stake is refunded
  • Half Time Full Time Betting: Improve Your Favorite Odds
  • Handicap bets: virtual advantages for the other team

If the classic 1X2 bet is too risky for you, you can counteract one with a double chance. Tip DC 1X means the home team wins the game or the game ends in a draw. DC X2 includes draws and away team wins. Of course, this reduces the rate. But such bets are less risky. Draw No Betting (DNB) is also known as draw no bet in German online sports betting. If the game ends in a draw, your stake is refunded. The odds are better than double chance but worse than the normal 1X2 bet.

With half-time full-time bets you can increase your betting odds when the betting odds are too low for the much-loved classic 1X2 tip. You have the opportunity to bet on the favorite team and that this already leads to the break, in addition, of course, the favorite has to win the game in the end. How does handicap sports betting work? Very similar. For example, outsiders are allowed into the game with a virtual advantage (1:0, 2:0, etc.). This improves the odds of your favorite, as they now have to win more clearly because they are behind.

How does goal betting work?

The second category of the betting market are goal bets, some of which come in very complex variants. Similar to trend bets, they still offer types of games such as Asian Handicap. But in this sports betting explanation, we first limit ourselves to the most important tools for your next betting tips. Goal bets include:

  • Over/Under Betting: Tips on number of goals
  • BTTS: Both teams score – or not
  • Clean Sheet: One of the two teams keeps a clean sheet
  • Win To Nil: The team wins without conceding a goal

Over and Under are among the most popular sports bets. They are displayed in a format greater than 2.5 or less than 3.5. Since there are no half goals in soccer, over 2.5 means 3 or more goals must be scored. 3.5 states that fewer than four goals are allowed. Depending on how extreme you bet up and down, you can control the size of the odds. For the more risky Over 3.5 (at least four goals) you will of course get better odds than for Over 2.5.

The choice of yes or no in BTTS betting is also popular. This is the English expression Both Teams To Score, which means: both sides score. Sometimes you only read B2S or BT2S. And how to use Win To Nil or Clean Sheet for sports betting? Exactly the same. With Win To Nil you can improve your odds by predicting a team to win without conceding a goal. Clean sheet means the team is not allowed to concede a goal. So this is a variant of the double chance. Because even 0:0 wins the bet.

This is how you can place sports bets online

How does sports betting work with online bookmakers? We have put together a few steps to show you how to quickly register and bet at an online bookmaker:

  1. Create a betting account: The most important step is to create a betting account. This step requires your personal information and can be completed in a few minutes.
  1. Registration and Deposit: Register and deposit real money into your betting account. A reputable bookmaker will usually provide you with credit cards, e-wallets and online banking.
  1. Wetten: Did you follow the previous steps? Then nothing stands in the way of online betting. A completed betting slip can usually be submitted with just a few clicks.

Bonuses at online sports betting providers

Sports betting bonuses are a great way to add a little extra cash to your betting account. Some bookmakers add a certain percentage to your first deposit.

For example, if you deposit EUR 100 at Silverplay , you will receive a 100% bonus up to EUR 100 and you can bet EUR 200. You usually have to implement bonuses with a minimum quota. How high this is and how often you have to wager the bonus and, if applicable, the deposit can be found in the bonus conditions.

As an alternative to extra money, some bookmakers also give away one or more free bets. You can win real money with these free bets, but the original value of the free bets will be deducted from the winnings.

Sports Betting Tips – The right strategy makes all the difference

Of course, when you bet on sports betting, you also want to make a profit. But is there really a strategy? No strategy is guaranteed to win money. Still, there’s no harm in having a plan. In this list we give you some tips:

  • Don’t type intuitively
  • Get to know the team/player
  • Check the form of each team/player
  • Make quick decisions with live betting
  • Only bet on sports you know

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