How does sports betting actually work?

Although sports betting is very common these days, few people are familiar with it. And this despite millions of players in Germany alone and advertising on all channels. Even the biggest stars in the industry advertise some providers. Probably due to the relatively young market that only opened up in Germany in 2011, only a small fraction knows about sports betting and an even smaller fraction participates in it. It also led to the not-so-positive image that the betting and gambling business had for a long time. The following text provides information to make it clear in the future how sports betting works.

Sports betting and gambling

Although the two areas differ in many ways, they are both governed by the same law, the Gambling Act. It states that any bet placed on an event in the future is a form of gambling. Even if sports betting is more or less calculated and predictable, the result is never 100% predictable. Even if, for example, it is safe to assume that a team from the first division will beat a team from the third division. Another reason why both are mentioned in the same breath is that on many platforms that offer guide the Monero betting sites, the online casino offer can be found with the same user account.

Gap in knowledge about sports betting

Sports betting has always existed. Already at the first sports competitions, enthusiastic spectators stood aside and bet on the outcome of the event. For the Romans, horse racing or gladiator fights were commonplace, secrecy was not needed. But everything changed as the story progressed. With organized crime infiltrating the business, the reputation of sports betting, safety, and with it the legal landscape has changed. However, in order to be able to better regulate the market, the market was opened. Betting is a lucrative business, and even today the volume of the black betting market in the United States is estimated at several billion dollars. I guess it's because of a picture from the past

The betting business of today

To disprove the rumor, sports betting is legal in Germany. However, only licensed bookmakers can offer them. The gambling business has become socially acceptable and is comprehensively controlled by various authorities. In addition, something has changed in the concept of sports betting. Previously, you had to go to a bookmaker and bet there, but today everything is done with the latest technology. Even from a mobile phone or tablet, bets can be placed easily and directly, without any delay, and from anywhere with an internet connection. In addition, professional players appeared who bet purposefully, but more on that later.

How does sports betting work?

First of all, you need a bookmaker, that is, an online provider for sports betting. There are a lot of them on the Internet, and after a little research, you can create a user account with a reputable bookmaker. As a rule, the offer includes from thirty to forty different sports. These include the classics of football, boxing or basketball, promising sports with interesting odds and stakes such as tennis or golf, and exotic ones such as surfing or video game championships. Each sport has different leagues and competitions. Major bookmakers even offer bets on the fourth division of the German football league. If you now want to bet on a game, you search for the sport and league on the previously selected platform and click on the corresponding game. Then, numerous betting options open up. For example, the betting option is the final score of the game, how many goals the player will score in the game, and so on. There are also long-term bets, for example, on the Bundesliga title or Formula 1 before the start of the season. The desired amount is placed on it and the bet is confirmed. Then you will have to wait and see, unless you are taking part in live betting, which is still possible during the game.
You will also be interested in: Cryptocurrency betting - is it possible?