Prediction Markets and Sports Betting
The sports world has dynamic events, thrills, and several affiliations. You can attest to this if you are a fan of any game, whether football, rugby, or tennis. One game-changing attribute that revolutionized this scene forever is sports wagering.
By betting on your favorite team or player, the thrill is multiplied tenfold. Now you are not just watching the game, you expect a prize at the end too! This article will focus on prediction markets and sports wagering as an art. Without further ado, let’s get straight to it.
Sports Betting
Arguably one of the most popular forms of wagering, sports betting refers to placing a wager on an expected result. A simple example is watching football with friends and wagering against an opponent.
Technology has, however, massively revolutionized this scene. Currently, service providers like Betway allow you to bet on various games.
Types of Sports Wagers
To kill the monotony, sportsbooks like Betway found a way to make sports betting more enticing for you. These variations are based on several factors. Here are some of these sports bet variations.
Moneyline
Moneylines or straight bets are the most common types, and you may have made one, too. These kinds depend on a single game outcome. Say you are a fan of the Malawi national team in the 2026 FIFA World Cup qualification match, and they are playing against Equatorial Guinea.
You could opt for malawi betting to support your team, only for them to get a thrashing. A win would mean you receive the price, while a loss would take a stab at your bankroll.
Spread
Unlike betting on a single outcome, spreads allow you to extend your odds. This type relies on giving or taking a certain number of points, goals, or metrics unique to the game. If the Cleveland Browns (-5.5) are taking on the Baltimore Ravens (+5.5).
If you think the first team will win, you’ll give 5.5 points. It’s that simple unless you are arranging a multi belt. These are just a few of them. These variations generally make wagering more interesting, while others factor in more crucial factors like your bankroll.
Prediction Markets
Prediction markets are different types of wagering that are not necessarily restricted to sports and depend on future outcomes. A great example would be during voting. Remember when Donald Trump was vying?
The odds of Trump winning at the time were trading for $0.68. This statistic would suggest that he had a 68% chance of winning as opposed to his contestant Mike Pence, whose odds traded at $0.11.
So, if you were to follow this analysis, you’d bet on Trump. To do so, you would have to buy shares. These shares traded between $0.01-$0.99. If you were right and Trump won, you would get a dollar for all your shares. If you lose, you’ll get nothing.
Final Thoughts
Wagering has given us a different way to relate to the future. We can now predict specific outcomes, and if we are correct, we get rewarded for it. In the case of sports, betting gives us a whole new experience related to enjoying the game.
