Sports Betting Markets Worldwide
The sports betting landscape has joined the internet world especially in the last ten years. The global sports betting markets are more sophisticated and accessible through the vast extensive reach of fast connecting internet services and worldwide demand.
Worldwide sports betting markets are produced and operated by well known large international companies that are listed on global trading stock exchanges.
However, there are major complications with the legal issues between some major countries, especially the anti-gambling laws enacted by the US Government. Putting the legal ramifications aside, this very large sports betting industry is growing worldwide with other major investment platforms like stocks, bonds and commodities. Some of the betting market systems were created to serve millions of people worldwide.
The big sports betting markets are in Europe, especially the United Kingdom. Two of the biggest betting companies are Betfair and Sporting Index. William Hill is in the UK and was the first to expand to Nevada with heavy presence in Las Vegas. Great Britain has the London betting outlets and kiosks for quick easy betting. Their format or betting platform is called Spread Betting. It is not like the spread or line used in the US.
Spread Betting offers its prediction on the outcome of various sporting events in the form of two spread numbers. These two numbers are one less and one more than a fixed spread in the US. A US spread of -3 points would have a spread bet line of +2 to -4 points.
The amount you may win or lose will vary according to how right or how wrong you are compared to their posted prediction.
Unlike fixed odds used in the states, spread betting is more complex but very profitable for bettors if they cover the spread. The risk-reward outcome is in multiples of your bet amount. The profit or loss is determined by the difference between the final score and the spread number you bought or sold at multiplied by your bet amount.
To place a bet with spread betting you buy the favorite or sell the underdog. A -3 point line in the US books would be a spread betting line of +2 to -4 points in London. If you like the favorite you buy at -4 or if you like the dog you sell at +2 points. If the favorite wins by 10 points you win 6 times you bet (10-4=6). If the dog wins by 10 points you win 12 times your bet (+2+10=12). You can also lose multiple times your bet. You would lose on your favorite bet if the dog won by 10 points —- a loss of 14 times your money ( -4-10=-14 ).
Another global sports betting market is called a Betting Exchange.
Although the intensity and risk-reward options of Spread Betting are amazing, the head to head challenge of a Betting Exchange is more subtle and simplified.
A betting exchange is very similar to a Nevada sports book but you are matched up against other players like a poker game. The house (exchange) takes a small rake or percentage of each play. Instead of winning or losing to a sports book, you are exchanging funds with another bettor just like you. Exchange bettors have accounts to play against other bettors and winners or losers are determined by the exchange which makes the adjustments in the bettors accounts — all done by user friendly software.
The Exchange is an intermediary that uses their software to regulate and operate the action. Their betting lines are the same as Las Vegas lines with the difference being the dollar odds or juice posted, not the bet amount. A dime line can become a nickel line in seconds.
This unique exchange between bettors produces much lower juice odds on the betting line. If you are laying -7 points or taking the dog, then you are usually risking $-110 to win a $100. However, with a Betting Exchange, you can easily find someone willing to take -102 or -106 for your bet instead of giving -110 to the sports book.
You can post your own money odds and actually become the book!
If a bettor posts the best price on the board, why not get the best money odds for your bet while the actual point spread stays the same. A difference of opinion exists on all sporting events as you know. A betting exchange is not legal on US soil but is a popular format worldwide. Their revenue comes from a small commission on each bet and Nevada gaming commission should take notice.