Sports betting is currently an ever-evolving dynamic within the gaming industry. A first look into the industry itself might just appear daunting, especially for beginners who will most likely be struck by high volumes of data such as results and odds. The impact of technology added to the constant updates to betting mobile apps and platforms might also stand out as mesmerizing and confusing. Yet, just as any other industry out there, a first approach should be all about breaking down the basics and the pillars that sustain the dynamic.
The gaming industry is built on the principle of sustaining an effective short and long-term link with users. To do so, frequent bettors and beginners must be engaged. This means analyzing sporting results, understanding Vegas NFL odds before making a wager, or simply browsing through all the gaming options and user-interactive platforms that are laid by providers to be explored.
These are all ways to approach an initial contact with the sports betting industry. For now, the focus will be narrowed at interpreting odds and a brief introduction to the new technological facet of sports betting.
Understanding Odds, Spreads and Moneylines
Picking on the winning side might strike as a difficult task, yet that’s what odds are there for. For example, depending on the sport, the favorite team or side to win will often fall under negative odd labels. These imply the pick is overall a safer option to select.
The underdogs in whichever the duel or sport is will tend to lay on the positive end of the spectrum. For instance, say BetUS has the Patriots listed in negative digits over the Bengals, with positive digits. The obvious pick is New England as the winning squad in this example.
If New England is on a -10-point spread versus Cincinnati being placed at +10, that means that the Patriots remain the favorite by a 10-point margin. If the Patriots win by precisely ten points, the user will have hit a push and recover their original wager. If the Pats win by more than 10 points, the user will have won the bet. If the final score has a difference of less than 10 points, the bettor loses.
Keep in mind that in other sports, such as racing dynamics, odds might all lay on the positive end for all drivers, given that the more participants that take part in a particular event, the lower the odds each one will have to win the race.
This places each driver, individually, as an underdog. From that perspective, users will pick the top underdog for the race, more than just choosing the top driver. In the same line as the previous example, consider the following interpretation on numbers when it comes to spreads.
On the moneyline side, dynamics work just about the same. For example, if the Pats are on a -150 moneyline, that means that a particular bettor will have to wager $150 to make $100 earnings. On the other hand, for example, if odds were favorable and say one decides to bet on Bengals at +150, then a $100 wager will return a $150 gain plus the additional investment.
Technology’s impact on Sports Betting
From enhanced mobile betting apps to a diversified offer of sporting events and games, Esports and EGaming, computerized table game dynamics, and other types of betting alternatives, mobile betting giants such as BetUS have opted to embrace technology as the spark that continues to propel the natural course that sports betting has embarked upon.
From the inclusion of Internet of Things (IOT) solutions for users to have updated data, results, and gaming options, to the implementation of Artificial Intelligence (AI) to enhance users’ personalized betting experience, technology is flooding the industry. These last examples and more are now building a new era in sports betting and one that frequent and beginners users should gradually become aware of.
Understanding some of the basics behind sports betting might just allow users to grasp the concept and embark on an interactive journey to a new world of sports, betting and technology.