Last Updated on 12 November 2024 by Nicholas Lim
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Sports betting is here since there have been athletic competitions there have been people determined to bet on the result. Both the ancient Greek and Romans were engaged in this practice. In the last two centuries, the most favored game to bet on was harness racing. Usually these events were reserved to the upper classes of society. But once with the introduction of TVs and sports magazines it soon became a favorite of everyone.
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How to play Sport Setting in Singapore
The practice soon became a multi-billion dollar industry. Whether it’s horse racing, boxing, basketball, tennis, soccer, or any other sport you can think of, betting on athletic events has exploded all over the world.
Popular Singapore Sports Betting
Internet Sports Betting
While traditional bookmakers are still extremely popular, more and more people are switching over to internet-based sports bookies. In short, online sports betting is the act of placing bets on certain sport events over the internet at so-called online betting sites or online bookmakers.
Online sports betting was amongst the first gaming activities to be introduced to the internet due to the fact that real life sports betting is extremely popular in Singapore. The first companies to offer internet sports betting services were the large land-based sports betting companies that realized the huge potential in this type of gaming.
Online sports betting offers a large number of advantages over sports betting in traditional betting shops. In online betting, bettors will have the opportunity to bet from home while watching games and checking results in real time. Betting shops are usually overcrowded making it difficult for the bettors to conduct real time research.
Live Sports Betting
Online betting is capable of providing something that “real life” betting cannot, which is real-time live betting. Live betting offers bettors the opportunity to bet on certain betting options while a game in question is happening in real time. In traditional betting, bets must be placed before the start of the games that are being selected.
Live betting can be extremely profitable because the bettor is able to watch a game in real time and based on each team’s performance, he or she can take real time – often very accurate – decisions. Latest statistics reveal that live betting generates the most revenues in sports betting.
Betting over the internet offers more betting possibilities than betting in traditional betting shops. Most online sportsbooks offer betting possibilities on almost every single sports event taking place on the planet. Due to technical challenges traditional betting shops are not able to offer such services.
How Sports Betting Works
A typical betting ticket on a sports event usually presents three options: Team A wins, draw or Team B wins (depending on the type of sport activity in question). Each of these options has a quota or winning probability attached to it. If the bettor’s prediction turns out to be correct, then the bet placed on the respective sports event will be multiplied with the related quota.
The betting quota that’s displayed for a certain option is decided using multiple factors. Most commonly the winning multiplier is based on the amounts of bets placed by bettors on each option. The bookmaker’s goal is always to establish the payout multipliers in such a way that at the end of the day the money paid out to winners will be covered by the money lost by the losers.
In online sports betting bettors will notice the “line” or the betting odds shifting in real time based on the bets placed by other bettors in real time. This is why timing is essential and can ensure substantial winnings. This is yet another reason why online betting is more advantageous than traditional sports betting.
Is Sports Betting Based on Luck or on Strategy?
People without any experience in sports betting will say that sports betting is based on luck and is the same as gambling. In reality sports betting cannot be called gambling because it mostly depends on strategy and insight into the sport event at hand.
There are many sports bettors who just bet for fun and don’t have the necessary insight into sports to generate consistent winnings. The existence of these players is extremely beneficial because they are the ones generating the money the bookmaker will pay out to those people who are able to generate consistent winnings.
Managing to accurately predict the result of a sports event is not easy but those who have a good insight and are genuinely passionate about sports are perfectly able to generate consistent winnings. Naturally “luck” will also play an important role because it’s never possible to 100% accurately predict what team will win. However, most of the time experienced bettors are perfectly able to accurately predict their bets.
Mobile Sports Betting
A new trend that’s catching on is mobile sports betting. Modern technology permits bookmakers to develop and offer apps that can be installed on smartphones and tablets that allow people to bet on sports events from their mobile devices.
This way bettors may even bet on a sports event right from a stadium where the game is actually taking place in real time. The only disadvantage of regular online sports betting is that it’s confined to people’s living rooms. Mobile sports betting is capable of eliminating this limitation.
Newest statistics point out that in most countries mobile sports betting is more popular than both traditional betting and traditional PC online betting. It’s believed that mobile sports betting will in a few years be the biggest revenue generator in the online gaming industry.
HOW SPORTS BETTING WORKS
If you’ve always wanted to bet on sports events but never knew how this works or how the betting odds are set, then this guide will clear all doubts and give you an excellent insight into everything related to sports betting.
How to Bet on Sports Events
First of all, we need to make clear that in sports betting it’s not uncommon to see much more betting possibilities than just that on game results. In fact, the high paying bets are those that give you the opportunity to guess half time results, scores and even player achievements. But in this guide we will focus on an ordinary game’s result bets only, because they are the base for all other bets.
As you know, if you bet on a game’s result you will have three options available, namely that team 1 wins (marked as “1” on the ticket), that the game ends with a draw (marked as “x” on the ticket) and that team 2 wins (marked as “2” on the ticket).
Understanding Betting Odds
If you guess the outcome right, you’ll win. The amount of money you’ll win will be calculated taking in consideration the quota related to your pick. What is the quota you ask? This is actually the most noteworthy thing you need to remember as it both indicates the amount you’re supposed to win, but also the possibility for your pick to be correct.
The quotas or betting odds are determined by the bookmaker in advance, depending on the performance of each team, the expected results and many more. The rule is that if a team is more likely to win, then the quota attached to that pick will be less profitable.
Let’s see an example
Assume that Team A is playing against Team B. A classic sports betting ticket would look like this:
| Team: | 1. Team A | X | 2. Team B |
| Odds: | 1.2 | 6 | 2.8 |
Now, you’ll have the opportunity to either choose “1”, “X”, or “2”. As you see, “X”, meaning draw has the best betting payouts, but usually draw games are pretty rare and should only be chosen if you’re totally sure what you’re doing and are optimistic about this result. Team 1 is the favorite to win the game, so the number will be lower in its case. Team 2 is likely to lose and, therefore offers a better paying bet.
To understand the whole system you need to know that your money will be paid out according to your bet multiplied with the quota of your pick. If you bet $10 and chose option “1” and guessed it right, you’ll be paid out $12. If you chose “2” and that was the correct pick, you’ll win $28.
Advice: In the end, you should always base your decisions on your knowledge. Even if, the odds are against you, you need to remember that sports betting has nothing to do with luck. Bet according to your sports expertise.
What Determines the Betting Odds?
Like we mentioned, the odds or the quotas are determined by the bookmaker according to the likely outcome of a game. But sportsbooks also change these odds – or also called the line – according to the number of bets for each pick. They do this because they earn money from the small commission charged on placing a bet. Obviously they want to make sure that the money they’re giving out for the winners will be covered with the money paid in by the losers.
Tip: In the case of online sports betting you’ll have the chance to see the line (or the odds) being changed in real time, even during an on-going game. This gives you the opportunity to take some last-minute decisions that have the potential to reward you with a huge sum of cash.
The things described in this article gave you a lot of excellent advice if you aren’t already familiar with sports betting. If you want to learn more, like how live betting or more exotic bets work, then read our other articles, as well.
Sports Betting FAQs
In 2014 Singapore passed the Remote Gambling Act to regulate online gambling in Singapore. Currently if you live in Singapore, you can only place bets on either Singapore Turf Club or Singapore Pools websites. These 2 sites which are regulated by the government allow you to win real cash money which you can later withdraw.
Since the law was changed in 2014 the only way for people living in Singapore to currently place bets on sporting events is by either signing up to Singapore Turf Club or Singapore Pools websites. Both of these sites are regulated by the government. Registering and depositing on other sites located in the country or outside Singapore are considered illegal and can land you a fine of $5,000 and possibly six months jail time.
Gamblers and betting enthusiasts in Singapore can only place bets on sporting events on one of the two legal sites Singapore Turf Club or Singapore Pools. Besides this limitation there are currently no limits to the amount you can bet on any soccer match, horse racing event, formula one event and a few other additional sports. Players can decide the amounts based on the money they have available to spend. Each player should bet responsibly and within their current means.
There is no one sporting event or type of sport that is preferred to over any other. However, with that being said most sports betting fans in Singapore prefer to place bets on football matches. In fact, a recent study showed roughly 70% of all bets placed on sports in Singapore were placed on football matches. The next most popular sports included horse racing, cricket, rugby and basketball. There is no denying people in Singapore love their football.
Although some gamblers may be new to the world of sports betting there is no secret sauce to winning. If you follow one sport and have some knowledge and experience it’s best to stick with betting on these sports. That being said we have all seen one team upset another during a big football match such as the Euro or the world cup. Even horse racing has seen a horse that was given low odds to win come from behind and win the race. You can always do some research but avoid spending money on tips.
It can be a big help if you are familiar with a sport and their teams and players. This can help give you an edge when placing your bets on upcoming sporting events like football matches or horse races. With that being said there are no guarantees your knowledge will help you place the winning bets. Unforeseen events can happen including injuries, red cards and lucky shots. Even the best teams can have an off day and the worst teams can surprise everyone.
Although most players will place their bets before the start of the match or race some events do allow you to place bets after the event has started. However, it’s important to note that the odds and the payout will be affected once the match has begun. There is also a cutoff point where players will no longer be allowed to make bets on live events. You won’t be able to place a bet on a football match which is about to end, and one team is completely dominating the other. You can get live updates while the match is being played in real time.
Gamblers and sports betting lovers in Singapore can only place bets on 2 official sites however there is a wide selection of sports to bet on. The most popular sport gamblers like to bet on is football, but they can also place bets on horse racing, cricket, basketball, rugby and racing events like formula one. The odds and payouts will vary based on the sporting event you place your bets on.
Prior to 2014 gamblers could place bets on multiple sites from around the world. Since the government passed the Remote Gambling Act in 2014 there are only two official sites. These two government regulated sites include Singapore Turf Club or Singapore Pools. Although there maybe many options available online it’s best to avoid taking the chance of betting on other sites. This is considering illegal can land players a fine of $5,000 and a potential jail sentence of 6 months. Better to stay safe and play on one of the two regulated sites.
Since the Remote Gambling Act in 2014 was passed only licensed and regulated sports betting sites are allowed to accept money and players. Currently there are two sites that are legal and safe to play on as they are owned and operated by the government of Singapore. In the future there may be more sites added to the list but for now gamblers in Singapore have only 2 options for legal sports betting online.