With regards to sports betting, there are two kinds of bets that people can make. One is called a ‘wage bet,’ which is essentially an agreement between the bettor and the bookmaker to place a specific amount of money on a particular bet. The bettor has the right to take his money back out of the bookmaker’s pocket if the bet is unsuccessful. The other kind of betting is known as ‘bookmaker wagers,’ where the bettor has the option of placing a specified amount of money on a particular bet but has no say in how that bet will be carried out. In between these two, there are a whole lot of different kinds of betting.
For example, if someone wants to bet on a race for winnings, he is commonly advised to place their bets before the race starts or within the last couple of days. Within the last couple of days of the race, many bookmakers will be offering extremely low odds of horse winning. This is because many people are busy trying to get in on the action for the first place, rather than playing it safe and backing one horse. If you choose to place your bets before the race starts, you must be sure that the race is won by at least one of the runners or lose all of your money. The bookmakers know this, so they offer ridiculously low odds to draw in punters, who then place their bets accordingly.
Another thing that you may need to know about when it comes to betting on horses is what ‘style’ of wager you should be placing. There are four different kinds of gambling regarding horse racing. You can bet long/short, long/medium, short/medium, and ‘point’ betting. Most bettors will pick one of these and stick to it, though others will experiment with the others depending on which they think will offer them the best chance of winning. It is usually a good idea to try a little of each of them to find out which one works best for you.
To know more about sports betting in Kenya, check out this infographic.
