Glossary and Lexicon of Sports Betting

If you are about to venture into the world of sports betting sites, first of all it is good to start learning the vocabulary and specific terms of sports bets to be able to move better in this area.So let’s see together which are the main terms in betting: The bookmaker (or online betting site)The bookmaker (which in the “slang” of the English-speaking countries is also called “bookie”) corresponds to a sports betting site and basically has the task of managing bets and above all setting the odds. Obviously to be a good bookmaker it will be essential to have an excellent knowledge both of the world of sport and of mathematical formulas, in particular statistics and probability. In recent years the phenomenon of online bookmakers has experienced a strong development, and the evolution of online gaming portals has thus allowed new and old bettors to vary their range of events on which to bet and benefit from interesting welcome bonuses. To know why it is so advantageous to bet with online bookmakers read this article. The bettorBettors are those who bet on bets, bookmaker customers. The bet itself is nothing more than a comparison between the bettor and the bookmaker: if the bet is lost, the bookmaker will keep the one that was bet, otherwise the bettor will win the one who bet multiplied by the corresponding odds. TipsterFrom the English “tip” or advice, the tipster corresponds to an individual or a company outside the bookmakers, who proposes to sell or exchange suggestions for sports bets for free. Underdog or outsider: It is about that player or team who, as a result of the bookmaker’s calculations, has little chance of winning a match in a sports competition. Its corresponding quota is therefore very high, but the risk of betting on the outsider is also high. Lexicon for beginnersThe different types of odds (odds)An important part of the bets concerns the setting of the odds by the bookmaker. The odds make it possible to calculate the gain derived from a bet. To learn more about how the odds of bookmakers are formed, you can compare this article. The value of the quota is inversely proportional to the probability of success of an event. The higher the quota, the lower the probability that a certain result will occur, according to this formula: Quota = 1 / Probability European quotas : According to the “European” type, the quotas can be formed by an integer or decimal number and the formula to calculate the gain obtainable from these quotas is the following:Earnings = Sum bet x (Quota – 1) English or fractional shareThe “Anglo-Saxon” quota in this case is expressed as a fraction. The formula in this case differs, albeit slightly, from European quotas, and is the following:Earnings = Bet Sum x Quota American share In America the odds can be positive but also negative. The negative quotas refer to the stake required to obtain a gain of 100; the positive quotas, on the other hand, regard the gain corresponding to a stake of 100. The profit given by the American quota will be calculated through this formula:Earnings = Amount wagered x 100 / (-quota) for negative shares or / share for positive odds All betting variations :The bet is related to the prediction of the result of a sporting event. In the world of sports betting there is the possibility of making different types of bets: Simple betThe simple one is the most classic of the types of bets, in which you bet on a single event, for example for the Rome-Lazio derby. Combined bet: It consists in betting on several events at the same time, such as the two Roma-Lazio derbies and simultaneously Sampdoria-Genoa, or other sporting events such as the Federer-Nadal tennis match. But of all these events only by guessing at least 2 results this bet will be a winner.