Online Sports Betting Guide
Sports betting offers you a bewildering choice of markets to bet on, thanks to the dozens of events playing each day from across the world. Given the depth of online sports betting, it may be slightly complicated for first time bettors to find their way around. And even if you are an accomplished sports bettor, you can still need to polish your skills and betting essentials from time to time. To help you achieve your objective for searching online sports betting, we, Online Casino Singapore have a guide that will enlighten you:
- More about online sports betting sites (and how to choose one)
- The advantages of betting online,
- Different forms of sports betting (including the popular markets covered under each)
- The multiple forms of offers that you can claim online.
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What Is Online Sports Betting
In the most basic definition, sports betting is simply betting on an outcome or event. You’ll be predicting that the event will either happen or not. Traditionally, this used to be done at the betting shops (otherwise known as bookmakers or bookies). However, with the advent of technology, sports betting is now done online. In Singapore, online sports betting has become one of the most popular forms of passing time, with millions of adults partaking in the activity.
How to Choose the Best Online Sports Betting Site
While we’d highly recommend that you visit some of the sportsbook sites listed on our page, we’d also like you to stay alert at all times when picking a platform that suits your betting needs. This is the reason why we’ve included this section. Watch out for the points listed below for you to have a clue on what you are looking for.
Always look at the body that licenses that online sportsbook you want to sign up to. A license is a good sign that the sportsbook has complied with the very high standards set by the licensing body. Such standards include aspects such as the security and safety of the player, fair betting experience, guaranteed payments among others.
Terms and Conditions
Payment Options Supported
Companies such as MasterCard, VISA, Skrill, PayPal, and Neteller will only partner with reputable sites. If a sportsbook doesn’t support several of these payment options, it should raise a concern and you should dig deep trying to find why they don’t.
These are just some of the few points that you should look out for in an online sportsbook. If you’d like to discover more about our reviewing criteria, you should click here.
Advantages of Online Sports Betting
Why should you break away from the tradition of betting at the betting shops by switching to online sportsbooks? Here are some of the popular reasons why most people bet online.
- Convenience: Online sportsbooks have eliminated the need to visit your local betting shop to wager. With the internet connection and mobile phone, you can now bet wherever you are, whenever you feel like
- It’s much safer and secure: Given the fraudulent nature of the internet, there are several state of the art security features and measures put in place. This not only ensures that you are safe at all times, but that your personal and financial information is safeguarded always!
- Improved odds and betting lines: Due to the low operational costs involved with the online sportsbook, they tend to offer improved odds and betting lines ++
- There Are Plenty of Sports Betting Options to Pick From: There are literally hundreds of thousands of sports to pick from.
- A variety of markets to accompany the sports betting events: The hundreds of sporting events to bet on present you with several markets to bet on. For instance, the majority of the top football leagues tend to have at least 100 markets to bet on
Disadvantages of Online Sports Betting
It only makes sense that any service that’s offered nowadays should have its fair share of pros and cons. Online sports betting is no exception. However, the cons are limited to only two options.
- There are chances that you may fall a victim of cybercrime, though this is something that you can avoid altogether when you consider the features above before signing up at a sportsbook
- It has become too convenient and if not properly managed, can result in problematic gambling. It’s therefore advisable that you gamble responsibly at all times
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All You Need To Know About Online Sports Betting
Before placing a bet, you need to have a better understanding of some important areas. This section will bring up to speed on these areas.
Which Sports Can You Bet On?
Online sports betting covers a variety of activities and its usually applicable to any type of bet associated with sporting events. Traditionally, fixed sports betting was the most popular way of betting on sports. However, with the internet, online sports betting has diversified the whole niche. And while football betting is the most common form of betting among Singapore bettors, the other sports below are widely favored.
- Greyhound racing
- Horse racing
Sports Betting Markets
Sports betting markets are the options that you pick when you want to flutter online. And while there are more than 30 sports betting events to pick from, there are markets that cut across the board. This is what we are going to look at in this section.
- Moneyline Betting: The best way to identify this type of betting is by looking at a market indicated by the – or + sign. The underdog team is usually indicated by the + sign while the favourite is indicated by the – sign. The numbers that are indicated in the respective payout indicate how much you have to wager to win $100 (those with – sign) and your expected return with a $100 bet (those with + sign)
- Asian Line Betting: This simply involves betting on either one of the team to receive a handicap on top of their actual points (+ handicap) or the favoured team overcoming a handicap (-handicap)
- Under/Over Betting: It’s a very common form of betting in football, cricket, basketball and tennis. For instance, when you say a match will end with over 1.5 goals, then your bet is a winner if 2 goals are scored. If you sat the match will end with under 80.5 baskets, then your bet is a winner if not more than 80 points are scored in the match.
- Futures Bets: Popular with Basketball, Football, American Football, Tennis, etc. With this, you are predicting an event that is going to happen, say at the end of the season or a few months from the date of the bet. For instance, who will win the Super Bowl, the top scorer at the end of the 2020/2021 league, who will win the NBA tournament, etc.
Types of Bets
There are more than 10 types of sports bets. However, the most common ones are:
- Single Bet – This bet constitutes of only one type of selection added to your Betslip
- Multi Bet – A multi bet usually tends to have more than one selection but less than five picks
- Accumulator Bet – When a bet slip has more than five picks, it stops being a multi-bet and becomes an accumulator bet
Other types of bets that you can place at a sportsbook include a Trixie bet, Yankee bet, Patent bet, Heinz bet, Super Heinz bet among others. Before settling on these bets, it’s important that you’ve had an in-depth of each type.
Understanding Value Betting
As you bet online, your main objective isn’t to win every bet that you wager, but to make decisions that offer a positive expected value. In simple terms, you’ll be looking for bets that offer you a better chance of winning than what the odds imply.
For instance, if Liverpool is playing against a second league team in the FA semi-final, and given odds of say 1.98 to win, this would be a good choice to bet on. In the 2019/2020 season, Liverpool has been unbeaten so far, with the team scoring in all the matches it has played.
Hedging a Bet and Sports Betting
The idea of hedging a bet in sports betting simply involves placing wagers on an outcome(s), ensuring an initial bet. This is meant to create a situation where there’s a guaranteed profit, regardless of whether the original wager loses or win.
Before hedging a bet, it’s important that you understand fully the concept and all the dynamics surrounding it. Otherwise, you may end up losing so much of your cash.
Also known as ‘Arb’ betting or ‘Matched Betting’ this is another popular form of betting that lets you lock in a profit regardless of the outcome of the match.
When you decide to involve yourself in arb betting, you are simply capitalizing on the odds variations between sportsbooks to lock in a profit. It involves concurrently betting on every possible outcome of the event, while calculating that, regardless of the outcome, all the bets combined will give you a profit.
Popular Trends in Online Sports Betting
Some of the popular trends in online sports betting are very useful tools when you are betting. However, they’ll only be profitable when used the right way. Some of these trends include the following.
- Cash-Out Feature: This is an innovative feature that enables you to lock in a profit or evade a loss before the end of an event. Initially, there was the manual cash-out feature. However, with demand and advancement of technology, you can now benefit from the Auto-cash out feature
- Bet Builder Feature: Different sportsbooks have different names for this feature. Regardless, it’s a feature that lets you build your own bet by picking markets from the list of available options. For instance, in a game between Arsenal vs. Manchester United, you can pick up to seven markets in the same match and place them under one bet slip.
- Live Stream Feature: You don’t always have to be seated watching the match from your television set. With the live stream feature, a selected sports selections are streamed live on the bookmaker, This way, you can always watch and bet at the same time
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Also known as in-play betting, live bets are those that are placed once the event has kicked off. During this time, odds tend to fluctuate depending on how events unfold in the sporting event. For instance, a match between Chelsea and Arsenal have the following odds before the start of the match:
Chelsea (1.77) Draw (3.47) Arsenal (4.8)
At half time, Chelsea is leading by 1 goal. This means that they are now the favourites to win the match. The odds will have shifted to something like this:
Chelsea (1.35) Draw (4.75) Arsenal (6.00)
If Arsenal scores a goal at the start of the second half, the odds will shift drastically to have something close to this:
Chelsea (1.80) Draw (1.7) Arsenal (3.50)
As a bettor, it’s your duty to observe and compare the pre-match odds and current in-play odds to get value and eventually lock in some profit from this type of betting. Take note, as you do your analysis, look at the updates statistics in order to know the best bet to make. How the odds shift is dependent on how the events unfold in the game.
Betting Exchanges vs. the Traditional Sportsbooks
Traditionally, sportsbooks have been known to be in charge of determining the odds that you wager with. But with betting exchanges, things have been different.
Betting exchanges use the same model of a stock exchange, but replace share trading with betting on in the sports, entertainment and politics industries.
On any market that you choose to bet on, there are always two sides of the bet. One side involves those who think the event will happen (the backers) and those that think it won’t happen (layers). Both parties usually get their bets matches provided that they settle on a price (odds) that this event will or will not happen.
This is the model that betting exchanges use and eliminates the need for the margin that traditional sports betting sites incorporate into their price. This, in turn, offers the opportunity for a more efficient betting platform.
If there are no margins, how do the betting exchanges make money?
It’s simple, they provide you with the platform to back or lay your bet(s). In exchange, they’ll charge you a small commission on the wins that you make.
Mobile betting has become a part of sports betting. Bookmakers have integrated their platforms to fit in perfectly with mobile sports betting platforms. This makes it possible for you to take the sportsbook with you wherever you are going.
There are two forms of mobile sports betting:
- No download/browser based betting: Through this, you can place your bet straight from your mobile browser, without downloading any software
- Download based betting: This form requires you to download a mobile application to your device before enjoying what it has to offer
Regardless of what you choose, both forms of betting are an excellent way of enjoying sports betting and you’ll find all the features of the sportsbook included in both.
Online Sports Betting Risk Free
Virtually, all Singapore based online sportsbook sites today will give you some sort of promotions, with various types being readily available for you to choose from. These promotions and offers, much like casino bonuses, are usually meant to help you bet for free or enable you to try out a strategy that you’ve been practicing before committing real money to the games. Furthermore, they are also meant to help you gauge whether the sportsbook fits in your preference as far as sports betting is concerned.
And while the majority of these promotions and offers come with strings attached to them, the good news is that you can withdraw the majority of these freebies. Furthermore, whether you are new to an online sportsbook or a returning player, there are several offers for you to pick from. Below are some of the most common forms of promotional offers that you’ll come across online.
Deposit bonuses are the most common forms of promotional offers across the online sportsbook site. They are often awarded to new players once they’ve created an account at the platform and made a ‘deposit’ as specified in the terms and conditions section. The deposit bonus is an awesome way of increasing or boosting your bankroll at the betting site and you can always withdraw or redeem it once you’ve met the set terms and conditions.
The other form of bonus that you’ll come across at the bookmakers is the free bet. So popular are these types of bets that they only come second to the deposit bonus. However, unlike their main competitor, free bets are normally awarded at any time and essentially allow you to have a risk-free betting experience. Like the deposit bonus, free bets tend to have terms and conditions attached to them, so it’s advisable that you go through the fine print before opting into them.
No Deposit Bonuses
No deposit bonuses are what they sound like – they are bonuses that you receive without having to deposit anything. They are usually mistaken or confused with the free bets but they are totally different, especially when it comes to the terms and conditions.
How Do You Take Full Advantage of the Betting Offers
Now that you’ve understood all about the different types of promotions and bonuses available online, how about getting to know more about how you can take full advantage of these bonuses? Given that there are lengthy terms and conditions surrounding them, some of you may not have the time to read through them. To help you know the important and not important aspects of terms and conditions, we’ve highlighted the important areas. They include the following:
The Type and Amount Offered
Since there are several types of bonuses, which come with different amounts, it’s important that you look at these two parameters before claiming or opting for the offer.
These requirements include the minimum deposit amount and the minimum points required to qualify for the offer. For instance, a sportsbook may be offering a 100% match deposit bonus up to $50. However, in order to qualify for this bonus, you have to make a minimum deposit of $20. Therefore, if you deposit $10, you won’t receive this bonus.
Wagering requirements simply refer to the amount of real money that you have to spend in bets before you can withdraw the bonus money. It’s usually expressed as a number accompanied by a × sign. For instance, the 100% match deposit bonus up to $50 may have a 20x wagering requirement. This means in order to withdraw the $50 bonus, you have to spend up to $1000 in real money.
As a rule of thumb, the higher the wagering requirements, the unattractive the bonus offer, not unless you are a high roller.
The minimum odds aspect plays a very important role in satisfying the wagering requirements. For instance, a bookmaker will quote that any odds placed below 2.0(1/1) do not contribute towards the wagering requirements. What this simply means is if you place a bet at odds of 1.99(99/100), then your bet won’t contribute towards settling the wagering requirements specified in the terms and conditions.
Odds and Probabilities
Speaking of odds, understanding how to calculate and read odds is an obvious requirement for anyone aspiring to become a successful bettor! Even though these odds shift drastically from one side to the other, odds in their most basic form represent probability.
Understanding the different types of odds formats is the first step to being a successful sports bettor. After that, you can always learn how to identify value in the odds in order to get better win margins when betting.
Types of Odds Formats
Fractions and decimal odds are the two most common ways of displaying odds. They are used to represent how the bookies display their risk ‘versus probability’ measurement as shown below.
- Fractional Odds Format: These are the traditional way of displaying the odds and are widely spread in European and Australian markets. Essentially, when your odds selection is displayed as 2/1 (two-to-one), this means that you’ll receive two times your original stake. Your potential payout does not usually include your original stake.
- Decimal Odds Format: This is the most common form of odds format among the Kenyan bettors and is usually represented with a decimal. Therefore, fractional odds of 2/1 will be displayed as 3.0
Other forms of betting odds that you can use online include:
- American odds format
- Hong Kong odds format
- Indonesian odds format
- Malaysian odds format
Online Sports Betting Tips
Millions of bettors in Singapore try their luck on several sporting events offered by the modern day sportsbook sites. And as we’ve already said, there’s no denying the fact that online sports betting can be a profitable and rewarding enterprise. However, like any other form of investing or enterprise, success doesn’t come with a silver platter. You need to observe some points if you are to make a nice nifty profit and we are here to show you some of these points.
You need to do some bookkeeping
Serious bettors know that it’s important to always keep records. Whether you’ve lost a bet or won one, it’s important that you keep your records. View it as a business. How likely is your business bound to succeed if you are not recording losses or profit? Such a business model is likely going to be inefficient, chaotic and close within a short period.
In sports betting, short term losses and wins can quickly and easily impair your judgment, but you can only determine whether you are succeeding in the medium or long-term.
Bet On A Sports That You Know
So what are the best sports to bet on? Simply put, it’s best to bet on a sport you are familiar with. This isn’t enough, you should also pick markets that you understand how it works and those that have value price.
Discipline is Very Important
Without having self-discipline, you can rest assured that the odds are stacked against you, even before you start betting. Furthermore, the chances of being a successful bettor are practically non-existent!
Why is this so? Well, self-discipline enables you to control how you bet, when to bet, stick to your bankroll management strategy and to systematically search for the best bet to wager on. When you bet on sports, self-discipline is the framework upon which everything else is built on.
Sports Betting Conclusion
Sports betting is no different from playing your favourite sport. The more practice and dedication you put in it, the more successful you are bound to be. By keeping records, adhering to high discipline standards and betting on sports that you are familiar with, you’ll be taking significant and practical steps towards being a successful bettor.