Sports betting is a widespread form of gambling that entails placing a bet on the result of an upcoming or live sporting event. It is an activity that dates back thousands of years ago and is now a pastime favoured by millions of sports fans around the globe.
The goal of crypto sports betting is to profit by using knowledge and instincts to make accurate sports predictions. Correct guesses lead to rewards, and inaccurate ones result in the loss of wagered funds.
When a bettor places a wager on a result occurring, he is backing that outcome. A bet placed against a specific event transpiring is a lay one, and it is available at betting exchanges, not online sportsbooks. WOLF.BET is an online bookmaker featuring Bitcoin & other crypto, and as such, it only accepts back bets.
A betting market is an option that players can place wagers on, hoping to attain a monetary benefit. For example, guessing an event winner or the final score of a football match are both betting markets.
In some cases, there could be dozens of markets available for a single event. WOLF.BET accepts wagers on over twenty different sports, and each sport's matches/games feature specific betting markets.
Each market has its odds, often referred to as lines or coefficients. In short, they are bet multipliers that help you calculate the profits that you can expect stemming from a correct guess. A 2.0 coefficient in betting represents a 50% implied probability that something is going to occur. So, if a winning coefficient is 1.066, that is an implied probability of 93.75%, which means betting $100 on that outcome will yield a net profit of $6.67.
The crypto bookmaker sets the odds in advance based on the perceived likelihood of a specific outcome occurring. These odds may change as an upcoming event approaches due to media stories, player injuries, and the volume of bets placed on a result can also affect them.
Players can bet one event per slip, known as a straight or single wager, or they can gamble on multiple markets with one amount on a multi-bet ticket. In the latter scenario, all the individual coefficients from each market form a total that will produce a substantial prize. The site's interface automatically calculates all potential rewards before players decide to make their wagers.
Odds from the same event cannot get placed in multi-mode.
Live betting or in-play wagering is the process of making bets on an event in progress. Its benefits lie in that it is simpler to locate value bets on events that are already happening, and live analysis lets players better tailor their wagers.
Progressive betting patterns can get applied to sports wagers. Though, such a practice is super risky.