Just like in other countries, Malaysia has many players that are interested in sports betting. In this article, we will discuss the essential aspects of this type of betting, especially online betting. For some of the best casinos available to Malaysians, many online gambling websites offer sports betting.
As a start, you need to know the types of betting, types of odds, and the advantages and disadvantages when betting.
What is Sports Betting?
Basically, sports betting is an activity where many people bet on the result of a sporting event. A lot of online gambling sites offer this thrilling betting activity. Some of the most common sports are football, badminton, basketball, American football, car racing, motorcycle racing, etc.
Almost every site that offers this betting also provides live betting or ‘in-play betting.’ It means that you can make bets as the sporting event is happening.
Today, online sports betting has become an increasingly popular choice as it is safe from legal action. The starting process is relatively easy. You simply have to register yourself on the online betting website and make the first deposit.
Sports betting sites offer various types of betting that use different odds systems.
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Types of Sports Betting
As a gambler who is less experienced in this type of betting, you might assume that there is only one type of sports betting, which is betting on the result of a sporting event. However, the betting system is actually more complicated than that because of the odds factor. The following are the common types of betting online:
Point Spread Bets
In a point spread betting, every team or athlete will be given the odds of winning, known as ‘point spreading.’
The team with higher winning odds will get a negative point or value, while the team with the lower odds of winning will get a positive point.
Total Line Bets
These total line bets involve several game sets or match between two teams. It is similar to the Money Line Bets but involves more than one match and any matches offered by the bookie.
Money Line Bets
For this bet, the bookie will determine the odds of every rival winning. This probability will determine your winning total if you have bet on the right result.
Parlay Bets
Parlay bets involve wagering on two or more matches, usually involving many sports teams. For example, in a season of English Premier League, you bet on A Team for all the matches in the first round.
Head to Head Bets
Sometimes, some sports do not have matches based on points. Sports like swimming, F1 car racing, sprinting, and golf are based on who is the fastest. In this case, the betting system used is head to head, which is a bet based on who will finish the event at the top position.
In-Play Sports Betting
With the current Internet technology, gamblers can get a match result in ‘real-time.’ Therefore, you are allowed to bet until the match is almost over.
Pari-Mutuel Betting
Pari-Mutuel betting is one of the world’s oldest betting system ever invented. In this system, the accumulated bets for all possible results will be totaled up and divided equally among all gamblers who bet on the winning odds.
Prop Betting
In a prop betting, you will bet for the odds of an action happening or not in a match or a race. For example, in a Manchester United vs Arsenal match, you bet that Wayne Rooney will score the first goal.
Enjoying Live Betting
Almost all websites that offer sports betting have it in the forms of live or in-play betting. This means that you can make bets while the event is taking place.
The current result will be updated in real-time, which is as soon as any team scores a point. In racing sports, the current position of every racer will also be updated live.
Live betting can test out your ability to predict the result of any sporting event based on the current result. It also means that you will get to change your last bet based on the performance of any athlete or his team.
On most sports betting sites, you can see the latest scores for the ongoing event. So, you can place a bet for either the ongoing event or event that has not started. The schedule for each sporting event will be displayed on the gambling site of your choice.
A Distinction of Exchange Betting
This type of bet is fairly new and began in the Internet era. The main difference between Exchange Betting and sports betting is the absence of bookie. It means all bets comprise of only private individuals and no agents or a middle party.
When you enter an exchange betting site, you will be asked to choose between back betting or support, and lay betting or opposing a match result.
The second distinction between Exchange Betting and common betting is that you will be the one determining the winning odds and not the bookie. You can back bet a result, and if other gamblers want to bet against you, they will make a lay bet.
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Types of Odds in Sports Betting
In general, there are three ways odds are stated, as the following.
European Decimal System
The decimal system is often used in bets in Europe, Asia, and Australia. Both of them will be assigned a decimal value. For example:
Manchester United: 1.50
Arsenal: 1.20
This means that if you bet RM100 for Manchester United and they win, you will get RM150, which is 1.50 times your bet. Meanwhile, if you bet Arsenal, you will win RM120 which is 1.20 times your original bet.
Fractional System
The fraction system is widely used in the UK and Ireland. It is one of the oldest odds systems in the world. If we were to use the English Premier League football team as an example, every team would get its own odds like the following:
West Ham United: 9/1, odds of winning are 1 divide by (1+9) = 1/10 – 10%
Profit will be counted as you winning RM9 for every RM1 bet. So, if you bet RM100, you will get a profit of RM900 if West Ham won, with a total winning of RM1000.
American Three-Digit System
Like its name, this American system is commonly used in American sports and Moneyline or Point Spread sports betting. This system is easy to grasp. Three-digit numbers represent the amount of money you have to wager to win $100. For example, in an NBA match:
Los Angeles Lakers: – 130
New York Knicks: +95
The positive symbol is given to the team/individual with less odds of winning, while the negative symbol is given to the team/individual with higher odds of winning.
Decimal System in Malaysia
In Malaysia, the decimal system for odds is a little different. The decimal system only covers the profit rather than principal betting. Using the same example as the European decimal system, it will be like:
Manchester United: 0.5
Arsenal: 0.2
Asian Handicap System
The Asian Handicap System originated from Indonesia and is designed to avoid a tie in a match, specifically football match. In this system, the weaker team will be given an additional point less than 1, such as 0.2, 0.5, etc.
If the result comes to a draw and you have bet on the weaker team, then you are considered to have won the bet.
How to Make the Best Betting Decision?
Just like other gambling types, sports betting requires the best strategy to generate more winnings and profit. To make the best betting choice, you can use these tips:
1. Get to Know Other Types of Bet
You need to get used to the typical sports betting terms, such as Spread Line Betting, Prop Betting, Parlay Betting, and lots more. These terms might be confusing at first, but it will get easier to understand once you start betting.
2. Know the Types of Odds and How to Count Winnings
Different betting systems have different odds. Some came in the form of decimals, percentages, negative and positive numbers, etc. Most importantly, you need to know how to count the profit if you have successfully bet on the winning team or athlete.
3. Pick the Right Sport
The sport that you choose also plays a role because it influences your chance of winning. Usually, gamblers will pick the sport that they are very familiar with. This will allow you to make bets based on information like who is the best player of every team, the accumulated points for the latest season, and so on.
4. Take Advantage by Using Promotions and Bonuses
Sports betting sites are filled with promotions and bonuses that you can use to increase your chance of winning. Bonuses are free money that you should use wisely to generate winning profits for yourself.
5. Choose Trusted Sports Betting Websites
In Malaysia, you are advised to choose online sites that offer sports betting. Choose licensed sites to ensure the safety of your personal information.
6. Practice Good Bookkeeping
Here, bookkeeping means recording all of your wins and losses so that you can make wiser betting decisions in the future.
7. Practice Discipline When Betting
Gambling can negatively affect you if you lose self-control. Which is why you need to have a strong discipline and only bet according to your best ability. Good bettors know when to stop.
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Bonuses in Sports Betting
Just like any other online betting, sports betting also offers bonuses to help you double your chance of winning. Some of the commonly offered bonuses are:
- No Deposit Bonus: You only have to register to claim a deposit without making any payments.
- First Deposit Bonus: This bonus is exclusive to newly registered gamblers. You will be given a bonus after making the first deposit, usually within 100-300% of the first deposit amount.
- Customary Deposit Bonus: This bonus is given for other deposits that are not the first deposit.
- Betting Bonus: You are required to make bets with real money to receive this bonus.
- Promotional/Holiday Bonus: This bonus was introduced to promote a sport or a holiday season.
- Loyalty Bonus: This bonus is usually offered to old players who have gambled large amounts of money on a sports betting site.
The Most Useful Sports Betting Strategy
Your strategy as a new gambler is not to make bets that are too high in amount. Make bets on sports that you know and understand, avoid overly complicated bets, and avoid making rash decisions. Furthermore, the following are sports betting strategies that you can use:
1. Hedging Bets
Hedging bets refer to the strategy of protecting your profits by betting for both teams in one match. This way, you will win no matter which team wins.
2. Value Bets
Value bets are a method where you bet on the team with higher odds of winning than the odds determined by the bookie. Knowing which team has a higher value requires experience and observation of the sharp bookie, which is a bookie who is skilled in predicting the winning or losing odds.
3. Arbitrage Bets
An arbitrage bet is a method where you bet on both teams simultaneously, but with different bookies. With the right calculation, you will definitely gain profits no matter which side wins.
Betting Has Pros and Cons
Pros
- It is easier to predict the odds of winning, which makes it easier to make betting strategies.
- Information regarding the teams, events, or players can help you estimate the bets.
- You can gain more profits compared to making investments.
- Easy to start betting.
- A lot of options for sports and betting structures
Cons
- You might not win every time.
- Wins and losses are only determined by one result only.
- Possibility of getting addicted if there is no self-discipline
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How to Choose the Right Betting Site
The sports betting site that you choose needs to be the one that guarantees your safety and comfort when playing to avoid any problems. Therefore, these are the questions you need to ask yourself when choosing:
1. Licensing: Does the betting site of my choice have a license? Is the license granted by the government or a certified body?
2. Terms and conditions: Do you agree with the minimum deposit, minimum bet policy, and the conditions to get a bonus or withdraw a win?
3. Promotions and bonuses: Does this site offer bonuses that can benefit you?
4. Payment method: Does the site of your choice has the payment method that you are used to? Is there a more accessible payment channel?
Mobile Sports Betting
In this modern age, gamblers no longer have to walk or travel to a place to do sports betting. Now, you can bet on any sports from the comfort of your home or wherever you are via a mobile phone.
This is because most online betting sites have a mobile version that can be accessed through an app or an Internet browser.
Sports Betting in General
Although sports betting has many aspects to understand, you will see that the experience gets easier to grasp once you have participated in this field for a while.
Sports betting can profit you if you are careful with your bets and use valid information to predict a win. You will generate winnings if you do your research and learn all the basic concepts well.
Frequently Asked Questions
Any sports of your choice, depending on which one you have more knowledge on. Pick a sport that you are familiar with and know deeply.
Yes, sports betting can give you profits if you bet frequently and learn the right strategies.
Choose a licensed sports betting site. You can register and make the first deposit. Then, you can start betting on the events of your choice.
You can learn the types of odds, which are the fractional system, decimal system, and the American system.
Gambling, in reality, is strictly prohibited. But, the laws in Malaysia do not have jurisdiction over foreign betting sites.
You can start by choosing a licensed site.
It is betting sites where there are no bookies involved, and gamblers bet on their own.
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