Sports Betting

Scientific wagers

Wednesday, May 13th, 2009

A scientific wager is a wager whose outcome is settled by scientific method. They typically consist of an offer to pay a certain sum of money on the scientific proof or disproof of some currently uncertain statement. Some wagers have specific date restrictions for collection, but many are open. Wagers occasionally [...]

Spread betting

Saturday, February 21st, 2009

Spread betting is a form of gambling on the outcome of any event where the more accurate the gamble, the more is won and conversely the less accurate the more is lost. A bet is made against a ’spread’ (or index), on whether the outcome will be above or below the spread. [...]

Parlay

Saturday, February 14th, 2009

A parlay is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately since the difficulty of hitting it is much higher. If [...]

Vigorish

Tuesday, January 27th, 2009

Vigorish, or simply “vig“, or “juice“, is the amount charged by a bookmaker for his services. The term is Yiddish slang originating from the Russian word for “winnings,” vyigrysh. The concept is also known as the overround.Bookmakers use this concept to make money on their wagers regardless of the outcome. Because of [...]

Bookmaking

Tuesday, January 20th, 2009

Most people believe that bookmakers attempt to “balance” their action, by adjusting their prices so that they get the same amount of money on both sides of a game. Theoretically, the bookmaker’s only financial interest in the bets it accepts is the vigorish it takes from losing wagers, and it simply wants [...]

Bar bet

Tuesday, January 20th, 2009

A bar bet is a bet made between two patrons at a bar. Bar bets can range from wagers about little-known trivia, such as obscure historical facts, to feats of skill and strength. Some bar bets are intended to trick the other party into losing.
Famous bar bets

The annual Midnight Sun baseball game [...]

Types of bets

Tuesday, January 13th, 2009

Aside from simple wagers–betting a friend that one’s favorite baseball team will win its division, for instance, or buying a football “square” for the Super Bowl–sports betting is commonly done through a bookmaker. Legal sports bookmakers exist throughout the world (perhaps most notably in Las Vegas). In areas where sports betting [...]

Sports betting

Sunday, September 21st, 2008

Sports betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event. Perhaps more so than other forms of gambling, the legality and general acceptance of sports betting varies from nation to nation. In North America, for example, sports gambling is generally [...]