Online betting in India explained | How does online betting work?
In spite of their popularity, most gambling remains something new and unknown to us. Betting on sports has been available online for more than 20 years. Although it feels like it only happened recently.
A lot has changed since the launch of sports betting platforms until today. Of course, all the changes have been for the better. The quality of the services provided has increased noticeably. But the whole system works pretty much the same as it did in the 2000s. So in this article, we will find out how most betting sites in India work.
How Online Betting Works?
If you are just getting immersed in the world of sports betting, at first glance, you may think that betting is something complicated and incomprehensible. But it isn’t. It’s a lot simpler than it might at first seem.
With online betting, you can bet money and predict the outcome of various sporting events. If you predict the correct outcome, you win money. If you are wrong, you lose everything you bet. Therefore, betting on sports is quite a risky activity.
Before you place a bet, make sure that it is an amount of money that you are not afraid of losing. With the right approach, sports betting can turn your pastime into something truly exciting and interesting.
Almost every sports betting site has a section that will feature different sports. If you click on a sport you like, a new page will appear in front of you. This will display all the available upcoming events for the selected sport.
Apart from that, you can also see the odds and odds for each game. They change regularly according to different factors. Therefore in 5 minutes’ time the odds might be completely different. Keep that in mind.
Once you have made your selection, you will be redirected to the betting slip. On some sites, the details of your bet will be visible until it is finished. On others, you will need to open a separate page to see this information.
Once the bet has been approved, the funds will automatically be debited to your account. If the bet turns out to be successful, your funds along with your winnings will be automatically credited to your balance.
This is roughly how most platforms that offer sports betting work.
How the Odds Work?
In gambling, everything revolves around the odds. They indicate the probability of you winning. Most betting sites prefer to use American odds. With them you can analyze how much you can win with each successful bet.
As you may have realized, you can use odds to work out your approximate returns, should a bet turn out to be a winning one. Let’s take an example:
Imagine you place a bet with odds of 1.70 for INR 100. If your bet is successful, you will receive 170 INR. 100 INR is your rebound and the remaining 70 INR is the amount you win.
Types of Sports Bets and How They Work
Nowadays, sports betting has become very accessible. You can easily go to a platform like BetRaja and select a betting site there. If you don’t know what is BetRaja, it is a site for Indian players with reviews and rankings of the best betting operators, which opens up a lot of possibilities for you and offers a huge number of bonuses and features. Let’s take a look at popular types of bets.
- Direct bet. This is the most common type of sports betting. It is very often referred to as a single. The idea is that you choose the outcome of a single game or event.
- Spread bet. This type involves betting on a specific event outcome, where the payout will be based on the accuracy of the bet rather than a simple outcome, where only winning or losing matters.
- Parlay betting. This is when you combine two or more straight bets into one. This way you can win more with less money at risk. The more outcomes you add, the harder it is to win, but the bigger the possible winnings.
- Total bets. The essence of this bet is that you select the winner, taking into account extra time and a possible penalty shootout. This option comes into play when the match might end in a draw.
- Futures bets. Another very interesting variety of betting. You usually bet on an upcoming event that will take place from one day to the next. For example, you predict which country will win the World Cup. These have high odds, because it’s difficult to predict the outcome here.
- Prop bets. Usually these bets reflect the performance of a particular player. For instance, how many goals a particular player will score. Apart from that, you can even bet on what the first song will be at a Super Bowl match and so on.
How Do Payouts Work in Sports Betting?
As mentioned earlier, it is the odds that determine the payout on your bet. Each betting slip shows the winnings you can receive. Sometimes the coupon may also indicate the money you wagered. For example, if you bet INR 100, you can win INR 500 and the total payout is INR 600.
If you want to be able to figure out the odds correctly before you place a bet, you will have to learn some formulas or use an online betting calculator to do so.
Generally, every player can withdraw his balance at any time of the day. The time it takes to withdraw depends on the betting apps or platform used.
Can You Make Money Betting Sports?
Sure, you can make good profits from sports betting. But it’s not as easy as it might seem at first glance. You need to have a good understanding of the different sports, be able to analyze lots of factors and be willing to learn all the time.
So keep that in mind, and don’t assume that you’ll win every bet you place. Only a few people can make big money.
There is no guarantee that you will win. Think of sports betting as an opportunity to get good vibes and get a small cash reward as the prize.