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Betting on Sports

There is a lot more to gambling than blackjack and slot machines. There is a whole world of choices, everything from horse racing and greyhound racing to professional sports.

Why do people choose betting on sports over casino gambling? Aside from the entertainment factor, people have a better chance at winning. In the long run, the house will always win in any casino game. The exceptions here are blackjack and poker where things like card counting and psychology can play a role.

Betting on sports involves a certain type of skill. Essentially, bettors wager against each other through a "bookmaker", a sort of broker who makes their money from fees charged for each bettor. The bookmaker will adjust the odds to try to get an even number of wager on each side of a betting event.

Betting on sports requires you to pit your prediction of the outcome of an event against another bettor's prediction. By doing some homework and a little research you can make informed bets and actually increase your winnings over time.

Money Management

When betting on sports, it's a good idea to set a budget and stick to it. If you plan to make bets throughout a sporting season, come up with a budget you can live with and divide it my the number of weeks in the season. Stick to this weekly amount so that you'll stay in the game for the whole season. Maybe you'll lose your betting money this week, but there is always next week. It takes a lot of discipline to stick to this budget, especially when you come across a bet that is a sure thing.

Some people will add their winnings to their overall budget, but this also increases your total losses or wins at the end of the season. A good strategy is to place lots of small bets over the course of a season to reduce large losses and large wins and not put your entire bankroll at risk. Many suggest keeping each wager under 3% of your total bankroll.

How To Win

The secret to winning at betting on sports is to do your research. Nothing works better than discover something that hasn't be taken into account by the odds. You should know the game you are betting on inside and out. Keep up to speed on how your team or horses did last year. Did anyone get injured? Where is the game taking place? Is it inside or outside? What are the playing conditions expected to be? Know every detail of anything that could possibly affect the outcome of a game or race.

Horse Racing
This is one of the oldest forms of competitive racing dating back as far as 1500 B.C.

Greyhound Racing
The most commonly wagered on dog race is greyhound racing.

Sport Betting and Sportsbooks
When you bet on sporting events you try to beat the odds makers and win money.