Sports Betting is getting bigger day by day as it’s considered legal in most of the places. Before you start with the betting process, you need to pick the sport you want to play in and choose a team according to the requirements of that sport. With this done and knowing how points are scored in this format of the game, you will have to decide which type of competition you would want to compete into.
In sports, there are two main types of betting: daily sports and seasonal leagues.
Seasonal Leagues: In this type of betting games, once you pick your team you have to stick with it for the entire season. The advantage here is that you don’t need to change your team often and the betting in this format does not require a highly strategic approach.
Daily Sports: This format is getting more popular these days because things happen at a faster pace here with the game lasting a day or at the most a weekend. It is high action drama and suits everyone who needs to add variety and spice to life.
The daily sports again have two subcategories, which are Cash Games and Tournaments.
These are competitions that have two formats: head-to-head competitions or 50/50s. In head-to-head competitions, you just compete against one competitor and if you score more than this player you double your money. Here, you can choose to compete against your friend by inviting him or with any random player on that site. You need not worry about the performance of the other players and need to focus on scoring more than that single player to double your money.
Let’s say you enter any 50/50 competition where there are 400 players and you buy-in to a $10 league. This means that those 200 players who will finish at the first 200 spots will get $20 while the remaining 200 will get nothing. To win here, you need to be among the first 50% and the pay-out to all the first 50% competitors is the same.
These have an option of earning multiple times unlike the cash games where you can only double your money. They are called Guaranteed Prize Pool (GPP). Here you will be competing against every player that is in the tournament with you. The pay-outs are based on a fixed percentage of the total field and are generally around 15%
It means in a tournament havin
g 100 players the first 15 will be paid and that too in increasing hierarchy. It simply means the player in the first place will get more than the one in second place and so on.
The term ‘guaranteed’ used in this format m
eans that the prize pool is guaranteed by the sportsbook irrespective of the number of players signing for it. So, if it guarantees a combined pay-out of $1000 with a buy-in of $10, then it means ideally it should have 100 players signed. In case 100 people do not sign in for the tournament, then too they have to pay the amount by putting the rest from their pocket. Contrary to this, if more than 100 people sign, then the prize pool increases as there is no cap on the upside.
Getting started with online betting games is easy provided you have a fair understanding of the respective game, its players and playing conditions.