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      Why bet on sports: The risks and rewards on sports betting

      October 10, 2019October 10, 2019
      Sports Betting

      Why is it that movies and TV shows sometimes portray these wealthy posh men getting adrenaline hits while placing bets on a particular sport like horse racing or bull fighting or even over football matches? What is it really that is so captivating to men and women alike to bet on sports? The answer is simple. Profitable entertainment. Placing bets is fun. You see a football team; predict their chances of winning and place a bet. The entire game is then just a constant prayer for the team or player to win.  But if they really do win, you get back more money than you invested on the bet. It’s profitable. These two factors are the main reason why many people become addicted to it. The hope of changing your life overnight by giving out just a few bucks to only wait and hit a jackpot. Wouldn’t you want to try it once yourself?  Now gaining money isn’t everything in sports betting. It involves its down side as well. The chances of losing are equally high and for a man who bets by millions, this is definitely bad news.   But before we get into the complete list of pros and cons of sports betting, it is best to know what exactly happens.

      Now there are two kinds of people who bet on sports: The friendly-player and the serious-gambler.

      The friendly-player is a person who places bets simply for entertainment purposes. Now these are usually beginners in betting or those who come withfriends and try and increase the energy amongst them for the game. The bets are placed in small amounts as cash is not given much importance here. This happens legally. This is light hearted.

      Betting

      The serious gambler is the one who bets in millions and billions. For him, a single game either means 3 new porches or drowning in debts. His business is betting on sports;Luring weak minded ones into it and gaining money. He lives his life in terror because a single wrong prediction on his side and millions would get washed away.  This takes place sometimes illegally and such gamblers are usually notorious.

       

      The Risks in Sports betting—

      • The most obvious one is you could lose and get yourself into a mountain of debts.
      • The unpredictability factor is quite high in sports’ betting.
      • The odds are less favourable on your side.
      • The chances of the person you’re betting against being a dreadful guy are high because people like that are common in sports’ betting areas.
      • It is impossible to always win therefore losing once is sure.
      • Chances of getting addicted to this are fairly high. Hard to believe, but happens frequently.

       

      The Rewards in Sports betting—

      • You could win a lot of money over a single game thus transforming your life overnight.
      • The entertainment and fun that comes with it is another kind of rush.
      • Variety of sports to bet on. So even if you lose in one, you can always try your luck at another game.
      • The odds of winning are fairly high.
      • Easy to learn and bet.
      • Exposure to other sports betting and the amount you put in.

      Sports Betting Vs Other forms of Gambling

      October 3, 2019October 10, 2019
      Gambling

      Sports betting is a form of monetary based entertainment activity involving people placing bets by predicting if a player or a team  in a particular sport or game will simply win or win by gaining a predicted amount of scores(runs/goals/wickets/position) etc. If the prediction comes true, all the bets placed otherwise goes to the man who placed a bet on the winning team or player.

      Sports’ -betting is legal only in some countries but happens illegally almost everywhere outside.

      Compared to gambling and its other forms, sports’ betting is a wildly accepted culture. Gambling is always associated with a higher share of cons than its pros.  Before we fully divulge into their comparison, the concept of what gambling actually is must be clear.

      In Gambling, you play a game with the main object of winning by wagering money over an uncertain outcome. The outcome could drastically vary depending upon the odds. If your odds against the house are good, you could win but if not, losing is sure. Gambling and its other forms are usually held inside Casinos and the whole deal is expensive. There are different games to gamble over so a large variety of ways to either exhaust or fill your pocket exists. But in general, gambling games can be classified as two: Chance based games and skill based games. Chance based games are chance dependent and skill based games require the skills of a gambler extensively. Even though both chance and skill are present in both these types dominantly, one affects the game more.

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      Sports’ betting is similar to gambling and its other forms in a variety of ways.They have very less differences with both ultimately aiming at acquiring a lot of money by a modest investment at the start.

      • In sports’ betting, there is no skill required. No additional effort is put to win. It is all about predicting the right ending to a game and its probability. But that is not the case with gambling. Here, skill and chance both are primary factors as it involves the person betting to play the game itself.
      • In sports’ betting, a large variety of sports are available to bet on. Both athletic and non athletic sports have betting. Likewise in gambling, there are multiple games a person can try his luck over.
      • In both sports’ betting and gambling, the entertainment factor is present. People start out betting or gambling for fun and end up really enjoying themselves.
      • The addiction is common in both. Knowing when to stop or limit yourself is important or one will lose track of time and money spent in it which is dangerous.
      • It is quite easy to start betting in sports as all you have to do is place bets against the house and go back home with more than what you came with. In the case of gambling, without knowing a few rules and regulations of the games held inside a casino, it is not possible to easily start gambling.
      • The possibility of winning at least a little profit is high in sports’ betting than gambling.
      • The beginning factor is money in both.
      • The common 3 factors while being at sports’ betting or gambling are bets placed, chances and outcome.
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