Betting Online

Sports betting is a very popular way of entertainment especially for young people. They try their luck with wagering on popular sports events hoping to beat the bookmaker.

Initially betting was focused on horse racing but with the growing popularity of football, the focus slowly moved towards this sport.

In theory sports betting is all about predicting the outcome of any sport event. Nowadays it’s not only limited to sports like football, tennis or basketball. Bookmakers also offer bets on social or political events including even well known TV shows or presidential elections.

What is sports betting?

When betting you are putting your money against the bookmaker. Usually its not a 1:1 bet. Bookmakers got very smart and efficient in the way they are offering their product. For example if you try to back Barcelona to win against Real Madrid, you have a good chance it will be an even bet. However when Barcelona is facing Recreativo Huelva or any other regional team the payout you can get for such bet is usually minimal. What is more betting operators always take their margin for facilitating such bets. That means even when you cover all potential outcomes of the game you will never return your stake. It will always be a few percentages lower. That is how the betting companies are making their profit. Sites like MyBettingBonus are explaining a lot about this topic.

Types of bets

In the past you could only place bets on the outcome of given sports event. Now with the development of newest technology bookmakers are offering a wide range of betting markets. Taking football as an example. You can bet on goalscorer, number of cards shown in the game, number of corners or even throw ins.

A very popular type of betting that came to Europe and the UK from Asia is called Asian handicaps. In these bets you are betting not only on the winner of given game. You’re betting on the margin of the win. For example if Chelsea is facing Stoke City, the Blues can win it 1:0, 3:0 or 5:0 etc. If you place a standard win-draw-win bet you can only get a small return. However if you place an Asian handicap bet -4 and Chelsea wins the game 5:0 your payout will be significantly higher.

Online sports betting

Historically sports bets were only taken on the race courses. In the XX century it moved more towards city centers and high streets. In XXI century Internet is taking more and more customers from retail and becoming the leading channel for punters.

The growth of the Internet followed by the development of mobile and smartphones changed the betting habits a lot. Currently people prefer to place their bets already once the game is in play. It theory it gives bettors some advantage. They can first see how their favourite team is performing in the early stage of the game. Then once they see it’s going fine they can place the best on bookmaker’s online platform.

The development of online sports betting platforms also changed the way bookmakers attract customers. Currently every new customer can expect some deposit bonus or at least a free bet from the bookmaker he choses. The betting operators are fighting the commercial battle and punters are profiting from it having better offers and bonuses.

Biggest sports betting operators

When it comes to online sports wagering bet365 is probably the biggest bookmaker in the World. This Stoke based giant started from having traditional betting outlets in the UK. However the Coates family, the owner of the company quickly realized the future lies in the Internet. They sold their shops and focused on developing online offering. They were among the first operators with a great product and wide betting offering. That gave them a great advantage over competitors, which allowed them to gain a great market share.

When it comes to other big bookmakers in the UK punters will definitely be familiar with the likes of William Hill or Ladbrokes.

Ladbrokes is probably the oldest company offering sports betting in the UK. They date back to 1886. William Hill is a bit younger but managed to developed a wider Internet presence in the recent years.

Is betting legal?

Sports betting is legal in the UK. Betting operators need to get a licence from the Gambling Commission and pay taxes in the UK. Currently the tax rate is set at 15% of the gross profit of the bookmaker. What is more betting is an important part of UK’s economy. The biggest operators like Ladbrokes or Betfred employ thousands of people and pay millions in taxes every year. They are also one of the bigger spenders when it comes to advertising in press and TV. It’s enough to say the horse racing industry would probably not survive without marketing money put on the table from the bookmakers.