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The first thing to figure out is how the betting odds work. Bookmakers like 888STARZ use technology that analyzes huge volumes of data for that, including team/athlete performance, condition, injuries, morale, and specific factors specific to each sport, like court type in tennis and terrain in cycling.

For example, two football clubs have a scheduled match. In the match winner market, odds are 1.3 for Team 1 and 2.9 for Team 2. According to the bookmaker’s forecast, higher odds (2.9) signal that Team 2 has more chances to lose, while Team 1 is the likely winner. So, the higher the odds, the lower the possibility of that team/athlete winning, and vice versa.

Popular leagues typically have higher market liquidity, so odds are more accurate. Niche events often have larger margins because of lower betting volume. Bookmakers also adjust odds when gamblers place large wagers on a specific outcome. Sharp bettors influence the market when they notice undervalued odds (when they’re higher than expected. 

It’s also worth mentioning that different regions apply specific odd formats. For example, European bookmakers and sportsbooks use decimal odds, while American platforms often have fractional formats by default. Modern sportsbooks let clients change the format in settings so they can use the ones they prefer.

Live Betting

There are two types of wagers in terms of when you bet: pre-match and live. Pre-match is when the sportsbook accepts predictions before the event. In-play or live betting is when you wait for the event to begin and wager in real time. 

Pre-match betting has fixed odds based on factors we explained in the previous section. Live betting’s odds fluctuate constantly during the event because of what’s happening at that moment. 

For example, one of the teams wasn’t performing well during the first half-time, so the odds weren’t in their favor. However, the team scored one goal during the second half-time, so the odds decreased. Then, they scored another goal, so the probabilities were adjusted accordingly.

Bookmakers update the odds every second. So, you must confirm your bet quickly if you see favorable odds. Any delay can change the numbers, so the reward (if you win) will be lower. Still, you can’t bet blindly. Don’t bet on impulse; analyze team performance and stats before the sports event begins. Then, watch the event and bet when you see an opportunity.

Betting on Football, Basketball, and More

Most bettors prefer football, basketball, tennis, and cricket. What are the most important factors to consider when you’re betting on those team sports:

• Team’s condition and performance. A club that wins several games in a row gains momentum. So, players become more confident, passes connect better, and finishing improves. 
• Head-to-head. Some teams struggle against specific opponents. You can use it to your advantage and learn about the types of opponents that perform well, and wager on them.
• Injuries, suspensions, and lineup changes. A missing top scorer or defender weakens a team. You have to know about these factors before you place a wager, as these situations affect outcomes.
• Home and away performance. Some teams dominate at home due to fan support and familiar conditions. Others perform better away. Always check this data, because it might affect the results.
• Type of field, weather, similar conditions. You can find statistics of teams and athletes that perform better in certain conditions.

It may feel overwhelming at first, but modern technologies for data analysis help better understand all factors without extensive research. You don’t have to spend days on analysis, as most online sportsbooks have statistics, head-to-head performances, and other data that help wager successfully. 

Accumulator Bets, Handicaps, and Other Advanced Strategies

Experienced bettors always use strategies to increase their chances of winning. They often choose certain bet types that offer better payouts. For example, accumulator bets combine multiple selections into one wager, multiplying potential payouts. The tricky part is that the entire bet fails if one of the selections loses, so bettors should depend on data, not their “gut feeling.”

A safer option is to select a market, called Asian handicap. It balances the odds in sports like football. Bookmakers give a virtual advantage to the underdog or a disadvantage to the favorite. This method eliminates the draw, leaving only two possible outcomes, so it’s easier to predict.

Another simple and safe strategy is to wager on over/under markets. They allow bettors to predict whether the total score in a game will be higher or lower than a set number. It’s simpler, as you don’t even have to guess who wins; just predict if the score is lower or higher than a certain number.

You must have a certain strategy and use statistics to place successful wagers. While checking the odds can give you an understanding of what outcome is more likely, it’s not a guarantee. 

AI, Data Analytics, and the Future of Betting

AI analyzes vast amounts of data in seconds. It identifies patterns, evaluates risks, and improves predictions. Bookmakers use AI to adjust odds, while you can rely on AI-driven software to find value bets. Some AI tools even track player injuries, team form, and historical trends. Obviously, such tools are very helpful for punters.

Predictive analytics processes past results, playing conditions, and performance metrics to calculate probabilities. Many professionals use predictive models to evaluate risks before placing bets. Thus, you can use these tools, too. They’re similar to stop-loss tools in trading, as they help reduce risks. 

Even big data is used for sports betting nowadays. It collects information from match statistics, weather forecasts, and betting trends to provide a clearer picture of potential outcomes. 

You can use big data to find so-called value bets that we’ve mentioned. For example, it can help you spot a team’s tendency to score late goals. So, the odds for that team may be higher, and you can wager on that club, knowing that players have a chance to score a late goal and win. 

All these and similar tools are helpful not just because you win more, but because they minimize losses. So, it’s likely that they will be more common among sports fans in the future. 

Responsible Gambling: Managing Your Bankroll Smartly

But there is no success in betting, if you are not responsible for your actions. We’ve prepared a few simple, yet useful tips for you to gamble responsibly. Here’s what we suggest:

• Set a clear amount for a budget and never exceed it. Track your spending to keep control over it.
• Keep betting money apart from daily expenses. Never dip into savings or money meant for bills.
• Avoid reckless wagers on unlikely outcomes. Don’t bet on a team or athlete just because you like and support them. 
• Stop betting when you hit a losing streak. Don’t fall for the gambler’s fallacy when you believe that after a few losses, you’ll win; that’s not how it works.

Be careful and wager money that you can lose. Perceive sports betting as entertainment or a hobby, not income source. 

Conclusion

To summarize, sports betting is increasing in popularity, and modern technology influences this trend. AI and other tools that analyze huge volumes of data help punters wager successfully. It’s clear that more people understand that their success depends on statistics and a proper strategy, rather than luck. Thus, you should use logic and analytics to make correct predictions. Don’t forget about proper budget management and emotional control!

Gamble Responsibly. You must be 21 years old or older to gamble. If you or someone you know has a problem with gambling help is available at 1-800-GAMBLER.