Source: Wikipedia, the free encyclopedia From: The Player
Overview
Betting sports is the general activity of predicting sports results by making a wager on the outcome of a sporting event. Spread betting opportunities are among the strategies used in sports wagering. Perhaps more so than other forms of gambling, the legality and general acceptance of sports betting varies from nation to nation. In the United States, the Professional and Amateur Sports Protection Act of 1994 makes illegal to operate a "spread betting, gambling or wagering scheme", except for in the states of Delaware, Nevada, and Oregon.
Nevada, however, is the only state that currently allows betting sports. In many European nations, bookmaking (the profession of accepting sports wagers) is not illegal, but is highly regulated. Proponents of legalized sports betting online generally regard it as a hobby for sports fans, which increases their interest in particular sporting events. The outcome is a benefit for the leagues, teams, and players of the sport, through higher attendances and television audiences.
Opponents fear that, over and above the general ramifications of gambling, it threatens the integrity of amateur and professional sport, the history of which includes numerous attempts by sports gamblers to fix matches.
Although proponents counter that legitimate bookmakers will invariably fight corruption just as fiercely as governing bodies and law enforcement do. Most sports bettors are overall losers as the bookmakers odds are fairly efficient. However, there are professional sports bettors that make a good income betting sports.
Odds Making for Sports Betting
Odds for different outcomes in a single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favoured in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are favoured by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. Moneyline odds are favoured in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. Moneyline odds of 100 are an even bet.
Odds for different outcomes in a single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favoured in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are favoured by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. Moneyline odds are favoured in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. Moneyline odds of 100 are an even bet.
Odds-format Comparison
Decimal........1.50.....2.00....2.50....3.00
Decimal........1.50.....2.00....2.50....3.00
Fractional.....1/2......1/1.......3/2.....2/1
Moneyline...-200...+100....+150...+200
Conversion Formulas
Decimal -> Fractional = x-1 , then convert to fraction
Decimal -> Moneyline = 100*(x-1) if x>=2; -100/(x-1) if x<2
Fractional -> Decimal = divide fraction, then x+1
Fractional -> Moneyline = divide fraction, then 100*x if x>=1; -100/x if x<1
Moneyline -> Decimal = (x/100)+1 if x>0; (-100/x)+1 if x<0
Moneyline -> Fractional = x/100, then convert to fraction if x>0; -100/x, then convert to fraction if x<0
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