It is a so-called strategic plan prepared after a study of prior wins and losses and is expected to increase player ’s chances of winning more bets in less time. On the opposite to it, the real truth of gambling is that no betting system works every time and it is always full of odds.
There are three types of betting systems :
- Positive Progression Betting: In this system, there is increase in bet each time gamblers win. This is more popular system than others because it comparatively does not require you to have a big amount to start the game.
- Negative Progression Betting: In this system, gamblers want to recover previous losses in a single bet, so they bet even higher amounts every time they lose. It requires a larger amount and a strong heart to practice this system, hence It is considered a more risky betting system than its counter parts.
- Insurance Betting System : this system is totally opposite to the negative progression betting . In this gambler decreases bet every time they lose. This supports a safer gambling concept and is considered a good betting system.
Winning a significant amount of money by just guessing the outcome of some sports game is a very attractive idea for many sports fans and because of that they often try their luck with sports betting. As we have mentioned, it is very important to know the terminology that is relevant for sports betting, otherwise, bettors will not have the right information and they will not be able to place bets correctly on the games that they have selected. In order to be a successful sports bettor, it is necessary to understand the betting terminology.
- Bookie: The term ‘bookie’ refers to the central figure in the sports betting industry. bookies are also called sportsbooks or bookmakers . In essence, a bookie is a person or an organization that provides the odds for the games that people place the bets, takes bets and that provides the payouts after the successful bets.
- Odds: the bookmakers view on a competitor’s chance of winning. Odds are represented in different types. E.g. for example in a horse race 10/1 means, you need to put $1, on to win $10. This is a fractional odds representation.
- Beard: someone who places bets for someone else with that person’s money. It is also called mule.
- Juice: In the world of sports betting, the betting term ‘juice’ refers to the commission that the bookmaker or bookie takes after it proves that a bet that a bettor has placed in unsuccessful. the betting term juice is also known as vigorish or the take. the amount of the size of the juice is different depending on the bookmaker. it is also very important to mention that the type of the ‘juice’ might change from time to time depending on the bookmaker.
- Handicapper: In the world of sports betting, a handicapper is a person or an expert who spends his or her time analyzing sports betting professionally.
Is sports betting legal ?
It depends on where you are from. many countries have legalized gambling by changing the laws of their country constitutions. But it is still illegal in many countries by their county constitutions. This is very important especially for travelers who love to gamble. Because 75% of all people arrested for illegal gambling across the world in 2015 were foreigners.
- Gambling is illegal and considered as sinful in all Islamic countries according the Islamic law. Some countries are : Qatar, Bahrain, UAE, Saudi Arabia, Pakistan, Bangladesh.
- Gambling is illegal in some countries by their country constitution are: Brunei, North Korea, Vietnam, Gambia, Brazil,
- Legalized gambling countries: Nigeria, United Kingdom, South Africa, Philippines, Mexico, Ghana, Australia,
Gambling is legal with strict rules in some countries:
- Singapore : Online betting in any form is prohibited. Sports betting is allowed only through a government-operated system know as Singapore pools only.
- China: Non-approved methods of gambling is a punishable crime in china according to their country law. while legal lotteries are common in the in the country. online gambling and sports betting is prohibited. while casinos are largely banned.
- India: Betting on only horse racing is completely legal in India, With prestigious events taking place in big cities. There are only two states in India with legalized casinos are Goa and Sikkim. Goa is tourist Hotspot because of its legalized gambling structure. However that Betting parlors is illegal in India. But online gambling is unregulated.
- Taiwan: Gambling in all forms is illegal, although state run lotteries are exempted from the law, as are certain sports based lotteries.