The online sports betting industry continues to gain momentum every year as people continue to become more aware of the entertainment and money-winning benefits associated with it. According to research, sports betting happens to be one of the most patronized gambling events globally. Football is the highest, with about 3.5 billion patrons.
18,000 PHP
€100
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Online sports betting is now acknowledged by many and is currently considered legal in several countries. However, despite the global popularity of sports betting, it remains illegal in some notable countries around the world without exception to the Philippines.
In the Philippines, the legality of sports betting is complicated. In the Cagayan region, for instance, only foreigners are authorized to participate in online gambling, while it is prohibited for the citizens. However, the Philippines Amusement and Gambling Corporation (PAGC) are permitted to operate online gambling in other areas of the country.
WHAT IS SPORTS BETTING?
Sports betting is basically a type of gambling that involves staking a particular amount of money on the result of a game after predicting the possible outcome. Staking money on sporting activities is, as a matter of fact, one of the stalest and most prominent types of gambling worldwide. The main objective of the game is to win extra money.
Sports betting can be performed on a variety of athletic games. The prominent ones include but not limited to, soccer, basketball, baseball, volleyball, hockey, football, cricket, tennis, and many others.
Meanwhile, as a way of making betting more entertaining to players, along with the athletic games betting, sportsbooks also offer betting opportunities in some non-athletic games, thereby creating more elaborate betting options.
Some of the well-known non-athletic tournaments or events in which players can play to win real money include- political elections, reality show contests, as well as the non-human contests like underground cockfighting and horse racing to mention a few.
WHY YOU SHOULD BET ON SPORTS GAMES
Right from the period when organized sports tournaments started to manifest, it is generally believed that people from various parts of the world have, in one way or the other, been involved in predicting the results of sports games and wagering on the outcome.
However, irrespective of when it started precisely, sports betting has turned out to become a very lucrative business today. Literally, several millions of individuals from all over the globe enjoy playing the game- many of whom regard it as a pleasant pastime.
Some people play the game every once in a while; some are passionate players- they are regular players who play for fun, while some bet to change their financial situations completely, resulting in them taking sports gambling seriously.
Even though there was a conflict of opinion amongst people concerning the legality and wrongfulness of gambling in the past, as a result of the risks involved, today, sports betting online has been widely acknowledged by most nations as a socially acceptable practice.
HOW SPORTS BETTING WORKS
For you to have an in-depth comprehension of how betting on a particular sport works, we ‘ll be using Football games as an example.
Let’s say there is a football match between two teams- teams A and B. From experience, you can tell that team A plays far better than team B. Consequently, team A probably has a higher chance of winning the match. Therefore, the game will have odds that looks like this:
Team A draws Team B: 1.3, 4.1, 12.0, respectively.
As indicated above:
If you bet 20 Pesos on team A and win, automatically, you’ve earned yourself 26 Pesos.
The same way, if you stake on a draw and win, you will get 82.
If you are the very bold and courageous type, and you went ahead to wager on team B and win eventually, you’ve just got yourself a whooping 240 Pesos, just like that.
SOME FREQUENTLY USED TERMS IN SPORTS BETTING
Below are some of the slangs you will likely come across while trying to punt a sports game.
- Sportsbook/Bookmaker/Bookie: this is used when referring to a firm that offers sports betting service to punters.
- Betting exchange: this is a service that’s responsible for providing a marketplace where odds are fixed.
- Punters/bettors (UK&US, respectively): these are patrons who place bets.
- Juice: this represents the bet percentages taken as profit by the bookmaker.
- Pools, Cards, and Parlays: this is simply a combination of bets. Parlays are done instead of placing five different bets on five separate games. In which case, the punter places only a single parlay bet with the hope that the five games are successfully predicted.
- Action: action is used when a player wants to participate in the betting activities.
DIFFERENCE BETWEEN CASINO BETS AND SPORTS BETS
The most significant difference that exists between sports bets and casino bets is that the chances of winning in sports betting are a mystery that needs to be unraveled by a punter- they are not known and can only be estimated.
Moreover, the house edges are known in advance by gamblers participating in casino bets, whereas the case is different in sports betting. Sports bets demand that a player/punter be experienced and willing to research- this is because bookmakers are only able to predict the actual probability of each possible outcome.
TOP WEBSITES YOU CAN BET ON SPORTS
Are you looking for sportsbooks whose gambling operations are legally backed? Below is a list of some of the best online sports betting brands where you can enjoy online sports betting in the Philippines.
They are reputable brands without a history of any form of foul practices- fair play, smooth, prompt, and safe transactions, highly secured players’ data, and many more are what you should expect from them. Their betting operations are regulated and licensed by Curacao, PAGCOR, UKGC, or the MGA licensing bodies. They include:
- 22Bet – offers a welcome bonus 100% up to 7500 Pesos.
- Come on! – welcome bonus up to €25.
- BetOnline – provides a welcome bonus of up to $1000.
- Betway – you strand to get up to €30 in free bets.
- Intertops – you get a free $20 bet upon signing up.
- 888Sports – you will be given 100% up to $100 as a welcome bonus.
- 1xbet – you will get up to 5,400 Pesos welcome bonus.
- Betfair – offers free bets of up to $500.
PROMINENT SPORTS YOU CAN BET ON
There are several sports popularly bettors online by bettors in the Philippines. However, over time, it has been observed that Filipinos tend to show more interest in basketball games compared to other sporting activities- this can be attributed to the country’s long history of actions towards basketball games.
Filipinos have shown tremendous interest in some of their national tournaments and team games, of which the International Basketball Federation (FIBA) is a notable example.
Football is one of the most popular sports in the world. As such, reasonable interest is shown to this sport as well in the Philippines. However, Filipinos tend to concentrate more on international leagues such as FIFA and Premier leagues. You can also bet on other popular sports such as tennis, baseball, boxing, and others.
FAQs
What is sports betting?
Sports betting is basically an act of predicting the possible outcome of a sporting event and wagering on the aftermath.
How to win at sports betting?
- First, you need to create an account with a sportsbook of choice.
- Learn and understand the nooks and crannies of sports betting online.
- Learn betting strategies you can implement whenever you want to bet.
How to make money in sports betting?
The following tips will help you maintain a good winning streak while sports betting.
- Ensure that your single parlay bets are not unreasonably long- the viewer the selection, the better.
- Know that your favorite sports cannot always win.
- Be mindful of the temptations that come with sugar-coated odds on prices.
- Ensure that you have an in-depth understanding of how the market works.
- Take advantage of multiple bookmakers. Don’t just stick with one bookie.
What is virtual sports betting?
Virtual sports betting or Esports is the act of wagering on a variety of sports events with fixed odds whose outcome/result is determined by a random number generator or algorithms in the visual feedback from the virtual event. This is used to replace real-life fixtures with real teams and players. It is more like a real-life football emulator.
What sports betting sites are legal?
To the best of our knowledge, all the online sports betting sites listed above are legally backed up by reputable regulatory and licensing bodies.
How to calculate sports betting odds?
To determine your winnings for odds with + sign, you are to multiply your stake by the price. Afterward, you divide the result by 100 and then add your stake again.
For odds with – signs, you need to multiply your wager by 100.then divide by the odds and subsequently add your bet to the result; there you have your winning amount.