When the Professional and Amateur Sports Protection Act was ruled out by the Supreme Court of the United States on May 14, 2018, many states followed by legalizing online sports betting. Although online gambling was present in most states since the 1990s, sports betting was for long restricted by federal law. The popularity of online betting websites has been rising ever since the act’s repeal. Although things function pretty much the same way they did in the past, the betting now really gets a whole new dimension.
The possibility of wagering real money on the Internet brings the need for some betting tips. I’ve noticed that many sports bettors wonder which sports pay out most for online betting. In this article, I will also take a closer look at this dilemma.
Trying to predict the outcome of a competition is an ancient passion of the humankind. There are records that chariot races were among the most popular betting sports in ancient Greece and Rome, and ancient civilizations seem to have been familiar with sportsbooks too. Up until today, many things remain the same, but in the era of the Internet, betting became a multimillion-dollar industry.
Sports Betting
There are many types of sports betting, and some sports even have specific betting systems. But one thing should be noted before we start comparing different sports and their betting odds. The difference between a common and an expert bettor is that the expert understands that betting is not about guessing the winner, but much more about finding a wager with positive value. The value of a wager can be either positive or negative. It’s positive when a wager is more likely to win in reality than according to the odds offered by a sportsbook. The wager has a negative value when it is less likely to win than the odds suggest. Learning this will enable you to find bets with positive values and profit.
Online and Offline Betting
Essentially, online and offline betting are the same. Online betting sites offer the same services for their customers as do the sportsbooks. Still, betting online does have some advantages, such as in-play live betting and cash out options. These allow you to change your bet or cancel it during the sports event itself. Also, there is a greater variety of choice among numerous betting websites now available on the Internet. And all this is available 24 hours a day, at your home, on your PC, tablet, or phone.
There is also another convenience: odds comparison. The expansion of online sports betting sites brought big competition on the market, so the prices of odds on various sites can vary significantly. There are websites which compare the best offers and help you find them online.
Finally, to bet online, you also have to be more careful, because there are sites which are not reliable. Frauds are happening all the time, but luckily, the Internet has lists of recommended, as well as notorious betting sites. Be sure to consult these regularly and you will stay out of trouble.
Popularity vs. Profitability
You can start betting online on almost any sport you can think of. People bet even on grayhound races and floorball. But to pick the one which can bring you some money requires some experience. However, that doesn’t mean it is always going to be more profitable than other sports. Sportsbooks use statistics to calculate betting options, and if the sport is trendy, they will have more information at their disposal, so the statistics will be more precise. That means that for popular sports, odds and lines are usually very sharp, and you will need much more skill to outmaneuver them and win a larger amount of money.
European football (soccer) is by far the most popular sport in the world. Even though the popularity of other sports varies in different countries, European soccer is at the top of all lists worldwide. But is it the most profitable to bet on in America? In the betting world, the opinions on most profitable sports are divided. Most of the people would name football as the most beneficial one when it comes to odds of winning. But others claim that numbers testify in favor of baseball. For example, in the US, MLB has more than 2000 matches per season, whereas the NFL plays only 256. It’s clear that this gives you many more opportunities to bet on baseball.
The fact is that it all comes down to your personal affinities and the ability to analyze the game. Betting more often without taking care of the quality of your bets (regarding their value) won’t raise your chances of winning. On the contrary. Despite the general popularity of a sport or the payout chances evidenced by others, it ultimately depends on the bettor. Reading statistics, reports, etc. can help, but watching the matches and knowing what is going on with the players and the team is crucial for your betting chances. This is why popular sports are often the most profitable because the rich TV coverage gives you the opportunity to know more.
Some say that it is wiser to bet on less famous sports, such as volleyball, handball, or even squash. There might not be plenty of opportunities to get your gamble on here, but the lines are not so sharp, and sportsbooks estimations are less elaborated and less efficient. So if your favorite sport is not mainstream but you consider yourself an expert, go for it! You might have good chances of winning a nice amount.
Stay Away from the Ponies
Which sports are likely to leave you with empty pockets? The popularity of horse racing is dropping, except in the countries which still hold to them as a tradition, such as UK or Japan. However, the introduction of online betting helped bring attention to this sport again.
What should be highlighted here is that it is one of the few sports almost entirely funded by betting. This tells us that we are dealing with a specific and extremely proficient system of betting here. Horse racing, a.k.a. “The sport of Kings” is easy to bet on, but very hard to win at, even for expert bettors. The thing is that the favorites don’t always win, and the value odds are often quite poor.
To Recap
Betting on the Internet is essentially the same as offline betting. Still, it brings many new options, such as live betting and easier access to all the information necessary to turn game odds in your favor. Many agree that that is why betting on soccer pays out most, because it is the world’s most famous sport and bettors have lots of information at their disposal. Betting on horse racing remains the most uncertain betting option, as well as many non-mainstream sports. But regardless of all the statistics, remember that it is your ability to recognize wagers with positive values that makes you win the bet.