Betting Guide Advanced Betting Guide - Betting Explained In Easy To Follow....

Exploring The Different Types Of Betting - Betting Terms Explained....



To get a good appreciation of the different forms of betting - and which ones will suit you best to give you the best chances of making winning bets - we need to break it down and look at it from a handful of different  perspectives. All of the sections below cover one or more different aspects, but first let's take a look specifically at the some of the terms and types you're likely to come across.

The list is not exhaustive (our subject is a massive one) but it's a good starting point:

Online Betting - Doesn't need much explaining. This is a general term covering all forms of online  gambling.

Sportsbetting - A term generally applied to gambling on the outcome of any sporting event. Examples would include tennis, cricket, hockey, basketball, baseball, horse racing, soccer, greyhound
racing

Fixed Odds - Fixed Odds are the odds you'll see at many traditional sportsbetting or bookmaker sites. They're the odds that are put up before and after the event, normally in the form of a fraction (eg 5-2) or expressed as a decimal (eg 2.5 to 1). Normally they'll be available right up to the start of an event, and then become fixed (see also live betting below)

Asian Handicap Betting - This is a relatively new form of betting - mainly applied to football - where a handicap given to one or the other team in a match effectively means you're only placing bets on a win or lose result. It's covered in greater depth on the dedicated page.

Exchange Betting - Betting exchanges have become extremely popular. These operate differently from traditional fixed odds betting in that you're wagering against other punters. This often means you get much better odds because you're working against people who hold many different views on potential outcomes.

Live Betting - This term is used in different ways. It can be applied to casino or poker games where you're playing in real time with a live dealer or opponents, or it could mean you're placing bets during an event while it's being played.The odds will change during the event depending on the changing fortunes of competitors.


Telephone Betting - Pretty straightforward, calling in by phone to place your bets. You'll need to have a telephone account set up in advance.

Win/Place - Betting on a competitor being first or finishing in the places (normally anywhere in the first 2, 3, or 4 depending on the type of event and how many competitors there are.

Lay Betting - Betting on an outcome for a selection to lose. One of the reasons why exchanges (see above) have become popular.

Arbitrage - Placing a bet on two different outcomes in the same event where whatever happens you make a profit or guarantee not having a loss. Sounds simple, but actually it's not easy to achieve and takes considerable effort, knowledge, and that all important element of long term luck to pull off successfully. Arbitrage betting is more simply know as no lose betting.

Spread Betting - This is where it gets a little more complex. Spread betting is where you bet on an outcome to lose or to win, but in a range of odds either side of a set starting figure. I'm aware that's not a fantastic explanation so here's a link to the 'spread betting explained' page at a well known spread operator.


Match Betting - Placing bets of the outcome between two teams, An example in a soccer match would be on selecting team A to beat team B.


As I said earlier, this is only meant to be a high level attempt to cover some of the terms. Within each type of gaming there will be dozens of game specific terms which you'd need to understand. Don't worry though, it's not as difficult as it sounds. Check out the different types of winning money options for more info on dedicated terms for those options.

If you want to read more about betting terms try this site.



Betting On Games Of Chance Or Skill



One of the main elements of betting that you'll need to understand is the difference between betting on games of chance or on games where skill has an appreciable impact on the outcome.

Chance-based betting is completely random and generally you cannot influence whether you will win or lose by using skill or strategy. All players have an equal chance of winning.

Good examples of pure chance games include lotteries, scratchcards, bingo, plus most of the casino games such as roulette, blackjack, slots - though it's worth noting the subtle differences that playing strategy can make to your chances of success in some of these. If you're keen on learning more about casino gaming in particular, a good place to start is by reading the play casino games page right here on winmoney101 or if you're already a casino regular you may want to read about some of the more unusual innovations in casino gaming that have hit the headlines in recent years.

Where the odds begin to fall (potentially) into your favour is when we look at games where skill has an impact, including sportsbetting, skill games for money, and the most well known of all which is of course playing in poker games.

Of these, playing skill games for money is perhaps the one with the most potential for profit - but recent developments in cash prize video games could well push that option into a close second.

In skill-based betting, your ability and knowledge can influence whether you will win or lose. Although chance is involved, the odds of winning are not the same among all players because technique, knowledge or strategy can give you an advantage over others.


 
Betting Online Or Live - What's Best?



Until the explosion of online betting in recent years, you'd need to place bets by attending the actual event. Horse racing, greyhound racing, bingo halls, and live casinos and poker rooms are all great examples. There's no real debate that betting in live events when you're actually a spectator or participant at the event is a huge source of entertainment. The adrenalin levels can go much higher in live events, where you're fully caught up in the action.

But of course betting online does have some major benefits too, and of course video or TV coverage of live sporting events plus the latest developments in live casino games brings you much closer to the feel of a real event even when you’re just sitting in front of a TV or computer.

Other benefits you get when placing a bet online include the comfort factor of being in your own home, no travelling or entry fees, and last but not least you're likely to get better odds with the ability to shop around.

The conclusion is that there is no best. Each to their own , and if you're interested in any type of sport or gaming you're going to get benefits in different ways whether you site at home in front of a display or you're there in real life.



Spotlight On The 10 Key Ways To Bet Online



This is the focus of the home page here on WinMoney101.com, however I'll quickly reproduce them here : Read more about each opportunity on the individual pages.














How Easy Is It To Place A Bet Online?


It is easy, for sure.

Finding somewhere to bet is easy, opening an account is easy, depositing money is easy, and placing a bet is easy.

But lets prove it with a look at each one.



Finding Somewhere To Bet



This does of course depend on what type of betting opportunity you're interested in. There are hundreds of options, maybe thousands.

You can just click through any of the links at the top of this page and get my recommendations (which will be trusted, well known operators where your money - and winnings - will be as safe as possible). Or you can search on Google or any other search engine and you'll get results returned that will give you dozens of choices.


Opening an account



This is usually an easy process, taking around 5 minutes. Every betting operator has a vested interest in making the registration process as easy as possible. Normal stuff like name, address, username and password is pretty much all that's required. Often you can open an account without depositing any money, certainly that's the case when you find free no deposit opportunities.



Depositing Money Into Your Account



Again this is designed to be easy. Or at least the process is. The betting operators want your money. They need to make it easy for you to deposit.

Having said that, it does become more difficult in regions where gambling has been restricted by in country laws and regulations. The US is a great example, where although gambling itself is not illegal the transfer of money for gambling purposes is. This has been big news for a couple of years in the US, provoking much debate. The laws are changing slowly, but this is one of the main reasons why Bitcoin betting is becoming increasingly popular.



Placing Bets

Again, once you have an account set up and some money to play with, actually putting money on an event or game to win is fairly straightforward.

All websites will have carefully explained sections which tell you how to place a bet, and the different types of bet open to you. You just need to look for the 'rules' section on the site you're working with.

Where it becomes a little more complex is that different types of gambling options or sports betting have different types of bet with their own specific terminology. This will be fairly obvious to fans who know and understand what's happening, but won't be so clear to someone new and betting on that event for the first time.

If you're in that position don't worry. The most popular websites - in fact any that you'll find listed here - will almost always have sections that explain all of the different types of bets.



4 Reasons Why Online Betting Has Become So Popular



1. Ease Of Access



Take a look at the section above on how easy it is to place a bet online.

2. Transparency, Trust, & Reliability

Checking the credentials of any website is fairly straightforward if you know what you're looking for. Generally any popular betting sites can be fully trusted.

3  Choice, Choices, Options, & Choices

Thousands of places to bet and types of event to bet on.

4. Anonymity

Many people are nervous about going to a casino or betting shop for the first time, and for some there is a stigma attached. The internet lets you do pretty much what you want and when you want to do it.

 
 

How To

Improve Your Chances - Betting Strategies & Tips For Getting An Edge


 
Each type of successful betting venture, whether in poker games, casino games, or sports, entails using strategies specific to individual games.

But they also involve some higher level strategies that work to help you whatever the circumstances.

And when I talk about strategies I don't necessarily mean on how to play or how to pick selections in certain circumstances.

The strategies specific to each type of opportunity are covered in my dedicated sections, here I'm going to cover those at a higher level that will help make the most of your winning opportunities:

 

Study, study, and learn

If you're trying to win money by playing on any games of pure chance, there's not a great deal to learn. You just need to know how to play, sit back, enjoy it, and take your chances.

As soon as any form of skill or choice is required it gets more interesting, and there are ways to get an edge by building up knowledge. Poker is a great example, where experience and strong attention to strategy really can hugely increase your chances of successful play. Horse racing is another where understanding that individual horses can run well in specific circumstances (and run badly in circumstances that don't suit them) is one of the keys to long term profits.

The importance of study (and experience) cannot be underestimated.




Understand the types of bets



Understand the types of bets available in your chosen betting events. Calculate in advance how much you can win relevant to the amount you’re betting. You (nearly) always need to know what the risk level is, and how much you're likely to win for the amounts that you're risking on the bet.

When the rewards are potentially life changing that's not so important of course, but it's certainly true in any betting ventures that are designed to get you a longer term steady income.


 

Use information

Information which can help you comes in many forms, from free or paid betting tips or selections, through to forums, magazines, and dedicated sports websites. You can get a lot of valuable advice and suggestions by reading through various online betting websites.

 

Manage your bankroll effectively



This is one of the most critical factors for betting successfully, especially in games of skill where you're searching for a long term profit. The point to remember is - if you're following a system or strategy that you know should make you a long term profit, then the way to maximise that profit or in fact realise it will be by careful management of your bankroll. There are many facets to bankroll management, way too many too mention here, but I will write a dedicated page on it later when time allows.


Wherever possible, bet against other people



Betting against other people gives the maximum chances of winning (see the page on betting exchanges). Partly this is because you're backing against human frailties - greed, fear, over confidence, lack of confidence, and ignorance too.

With the correct knowledge and strategies you can position yourself above many other punters. Where they make mistakes, you can capitulate on them.

Nowhere is this more obvious than in poker, where strategy plays a huge part in winning or losing. But you can clearly see that playing poker against a machine - that is most of the casino poker games - is different from playing against other players just like you.


 

Use the free money offers



Make the most of bonus and promotional offers. Virtually all poker, casino, and other betting operators give valuable free money bonuses either as additional bankroll added to a first deposit, or in some cases as free no deposit bonuses which give you a chance to try out games for no outlay. There are very few reasons why you wouldn't want to take advantage of this - if only to use free betting money to learn and gain experence.

 

Shop around



Use every option available to choose where to bet and who with. Competition between the betting operators is fierce, and you can get better odds, payout options, or bonuses by shopping around.

There are a number of odds comparison websites which will show you all of the odds available from different operators for the same events. While odds are generally fairly close within ranges, it's surprising at times just how much they can differ. Why take 14-1 about an outcome when you can get 18-1 somewhere else?


Keep a record of your bets, losses, and winnings.



You'll find that errors are very rare with online bookmakers or other gaming rooms. But they do happen occasionally. If you have good records it's much easier to show what happened if a complaint becomes necessary.One good way to lower the risk of this is to make sure you're only betting on websites which are of course reputable and store histories of bets placed.

The other key reason for keeping records is that it'll show you which types of your bets are most profitable over a period of time. None of us can be jack of all trades (and hope to do it supremely well), so knowing what works for you and what doesn't will show you where to concentrate efforts.



Don't give in.

I say don't give in. But of course I don't mean 'don't give in' if you're clearly going to keep losing and/or can't afford it.

What I mean is - as long as you know that you have found a situation that sooner or later will result in a winning result for one of your bets - then don't let that potential winning situation go by without having the bet.

This reinforces the importance of bankroll management - making sure you have enough money to make the bet when the situation is right. It also brings into play the importance of patience. Good things come to those who wait, and holding on till you get the right opportunity can be a very successful strategy.

The problem is that emotion also comes into play.


Let's take horse racing as an example. This is a simplistic example but does work as an illustration.

You know that a certain horse wins one in every five of its races that are run on soft ground over 3 miles. Every time it runs in those circumstances its odds are 10-1. Clearly if you bet it for the same amount (known as level stakes) every time it runs you will make an overall profit as long as it keeps winning at the same rate.


BUT what happens is you have to place 4 losing bets. You know that statistically the next race might be a winning one, but you know from experience that it doesn't always come out that way. So emotion and doubt starts to creep in, you pull the bet just before the races, and watch your selection run first at 20-1!!

The point I'm making here is - if you have identified a set of circumstances that throws up winning bets with any reasonable regularity, you need to have the patience, commitment, strength, and bankroll to let you place losing bets and accept them as part of the strategy, while keeping faith that the one winner that clears all previous losses and gets you an overall profit is waiting to happen.

And don't think these opportunities are impossible to find.They DO happen, and they ARE there. You just have to find them!


Two's better than one - Betting Syndicates

Syndicates have a useful place in the betting world. They're perhaps best known as a way of groups of friends or colleagues playing the lottery to increase winning chances. Of course a win would mean splitting the prize, but who wouldn't want a share of $10 million on a series of numbers that someone else picked?

Lotteries are not the only example. Syndicates are often put together where there are big prizes at stake, but need a lot of permutations or entries to increase the chances of collecting a prize.



A good example is in UK based horse racing. Every week there is a jackpot where you need to pick winners of six races. If it's not won on any particular Saturday the fund rolls up to the following week. Each week the prize grows exponentially as more people get interested in the growing prize.
Ultimately there will be a number of big syndicates laying out many thousands of pounds on different permutations to try and get a good cut.




Competition Among Betting Operators - & How It Increases Your Chance Of Winning

With the option for any visitor to a website to click away in a few seconds if the don't find quickly what they're looking for and find somewhere else to place a bet, operators have realised that they need to compete with each other to give the best, easiest to use, and most rewarding experiences.
Which leads us on to the next section showing how and where to find the best betting websites.




10 Key Elements To Look For In A Strong, Reliable & Trustworthy Betting Website



As I've already noted above there are hundreds of betting sites - either offering opportunities to place bets on every event imaginable, or providing information which is designed to improve your chances of winning.

Some of these focus on specific areas such as poker, casino games, bingo, or sportsbetting. Some are centred on providing ways to bet by playing skillgames, lotteries, or sweepstakes. Recently there's been increased interest in betting to win by playing instant win scratchcards, and the latest breakthroughs in online gaming to win money are coming from console gaming - playing Xbox and PS3 games against opponents for cash prizes.

But what makes a good site? Let's take a look at some of the areas it's worth looking into:


1. Ease Of Use



Watch out for a well laid out website with a clear, straightforward user interface. It needs to show any bonuses or promotions on offer in simple terms, with any limitations or requirements clearly explained.

2. A Wide Range Of Betting Options



For a general sportsbetting site this is going to mean a wide and varied range of sports. If it's casino focussed it'll mean a good range of casino games. Poker likewise should cover many different types of poker games, with options for tournaments or cash/ring games.

3. Easy To Use And Varied Deposit Options - And Ways To Get Your Winnings



What use is a betting site if you can't actually deposit money to bet with? - and get hold of your cash easily and quickly when you do win.


4.The Best Odds



The odds you can get against various sporting outcomes (and this extends to payout percentages at online casinos as well) vary from site to site. It's not always easy to state that a certain site has better odds, because these will vary from event to event as well. But there are one or two that do consistently give better odds than others, including VCBet.com, Sporting Odds, and Bet 365.

Nothing can touch Betfair in this area though, with odds available there sometimes double or more what's on offer elsewhere particularly on the longer priced opportunities.


5. Multiple & Varied Promotions & Bonuses

Promotions and bonuses are seen as the lifeblood of any big betting site. They're used to entice new sign ups, and reward regular players for loyalty. Choosing a site with the biggest bonuses is not always a good idea, as there are often terms and conditions attached which vary from site to site. Most often these mean that you can't withdraw winnings till you've met the conditions. It's all designed so that you'll lose the free money - and any winnings that you've derived from it - before you get to the point where you can withdraw.

Even so, if you find a strong reputable site with good bonuses and promotions you have very little to lose by taking advantage.


6. Little Extras - VIP Programmes, Contests, & Competitions

Extra such as VIP programmes and member competitions are always worth looking out for. At a minimum they add extra fun and an additional interest to the betting experience. For heavy hitting bettors VIP programmes in particular can deliver valuable extra benefits.


7. Trust



Trust levels are not always easy to quantify. Generally as long as you're betting with a well known operator you - and your money - are going to be safe. Some pointers to watch out for are :


Does the site have clear and concise terms and conditions?

Check out the small print.


Do they operate fairly and transparently?

Worth looking out for external auditors here.


Do they reside or operate from a regulated jurisdiction?

If the sit openly states where they operate from and where they are licenced that's a good sign. If there's any doubt, or this s not spelled out clearly, it may pay to go elsewhere.



8. Easily Accessible Support Teams



All of us need some form of support at times. If you've ever had to contact support for an IT problem or an issue with a home appliance you've probably encountered frustrating experiences at times. Most well know betting operators have excellent 24 hour support teams, contactable by phone, email, or live operator.



9. Newsletters & Promotions Updates




Gamers who want to stay on top of their game love learning new ways to do so. Provide newsletters, blogs, tweets, articles, etc., that address gaming strategies and how your players can improve their technique. This will not only benefit your players, but if the information you provide is really good, it’s likely to be shared-increasing traffic back to your site.


10. Popularity



Popularity in any field is a good indicator. We've already talked about trust issues, extra stuff like bonuses etc. Almost certainly if you find a popular site there are going to be very good reasons for that popularity.

Popular sites look after their visitors with valuable content. The betting industry is no different.

In any games where you're playing against other players, popularity gets to be even more important of course. High numbers of players or participants increases liquidity, increases the chances of good winning opportunities.




The Downsides & Risks Of Betting To Win Money

1. Psychological Aspects


There have been a number of studies looking at the reasons why we bet. As you'd expect, mainly those reasons are either entertainment or cash based. But betting does involve changes in our physiological state, particularly when we're waiting or close to the outcome of any bet we've struck. Excitement and anticipation takes over, and this produces chemicals in our brains which can help to form addictive behaviours. The act of betting also becomes by its nature a kind of subconscious reinforcement, where we keep going back for more even though it may be harmful.

Apart from losing money, addiction is the biggest danger.

Many (actually most) of the ways to win money involve the risk of losing some of your own, and I (and you) don't want that to happen to an extent where it's a problem for you or those around you. Try and remember at all times - it needs to be fun. If it hurts, if you're losing money that you can't afford, my advice is always going to be to stop and get out.

What can happen - and has to many people the world over - is that the allure of winning becomes addictive. You cannot stop - and ultimately that leads to behaviours that you wouldn't normally find acceptable in yourself. Fortunately there are a number of organisations set up to help people in that situation, but prevention is the best course of action. Be self aware, know your limitations, understand how your mind works and whether you might be prone to becoming addicted.



2. The Key Risks In

Choosing

Where To Bet



As long as you're working with a trusted, well known operator then the risks involved with betting online are minimal. That includes the risk of not being able to withdraw winnings, or the risks of any security issues, or the risks of any cheating taking place. Especially with the worry of security issues and the potential for cheating or unfair systems, you can be confident that major operators use highly secure systems to protect their clients and working with them should be as secure as buying a TV online from an online electrical retailer.


Quick Links & Betting Resources



I'm going to end up this page on betting with a look at some external websites that provide useful information. I'll try to make these focussed on the subject in general - if you want more specific info then please visit the individual pages on each type of opportunity. You can find a list of these here.


Let's start as always with Wikipedia. The internet's most popular information site has a highly informative guide to betting and gambling.

Betting.co is a useful all in one betting guide covering poker, bingo, casino, and various types of sports.

BettingAdvice.com looks to be growing into a high value site on different aspects of placing bets online.



DMOZ is one of the oldest and most respected internet directories, carrying links to high quality and information rich websites. The betting search returns some interesting results with great reading material.

Technorati.com is a highly respected blog directory which lets you search either for blog posts or for website information. Techorati is a hugely valuable information source containing comprehensive betting related info.

About.com carries an in depth section on various aspects of betting to win money.

Delicious.com is a popular website sharing site. Here are some of the pages on betting that have been shared by members.

Tumblr.com is a hugely popular blog platform where a search for betting related blogs returns a number of useful pages.

Topsy.com is a curator or collector of recent popular news and tweets - the betting search on Topsy gets you some valuable perspectives on recent news on different betting events

The internet news website Reddit is a useful online resource where you'll find dozens of betting news releases and articles as they're released - a great resource for up to date information.

Squidoo lenses are often a useful source of extra information and some of the Squidoo lenses on betting subjects are well worth a look.





I'd like to think that this page is all you need to give you a good grounding in the different forms of betting and which ones are most likely to work for you and your situation, but in case all this information isn't enough, let's finish up with some links to other winning money articles here on WinMoney101.com. You'll find them just below the next video.

The video itself is one I found on Youtube, which of course carries a whole series of betting videos.
For the first few seconds you might think it's serious, but the subtle humour soon kicks in.

Enjoy the video, and remember - make sure you enjoy your betting.
**
 
 
 
 
 
 
 
 
 
 
 
 
 





WinMoney101 Betting Guide - Bets Explained

Betting is a huge subject. You'll see just by taking a look at just some of the different elements of it to the right.

The key point to be aware of first is that it essentially means 'trying to win money by risking money you already have'.

There are some exceptions to this - namely when you find chances for free betting. I've covered this in depth on the 'how to win free money' page.

So you can see that there are risks. You are placing a bet on the outcome of an event, and if you're right then you win. If you're wrong, you lose.

And losing a lot of money can be painful.

You need to be careful, and studying a good betting guide is the first step on a long road.

Betting Introduction

Explore The Different Types Of Betting - Understanding Betting Terms

The Key Differences Between Games Of Chance & Games Of Skill

What's Best? Betting Online Or Live?

Spotlight On The 10 Key Ways To Bet On Line

How Easy Is It To Place A Bet Online?

4 Reasons Why Betting Online Will Work For You

10 Ways To Improve Your Chances - Strategies & Tips For Getting An Edge

Focus On Using Competition To Secure The Best Odds Of Winning

10 Key Elements To Watch For In A Valuable Betting Website

Get A Heads Up On The Risks Of Betting To Win Money

Valuable Guides & Resources
But being careful does not mean you have to avoid betting altogether. There are ways to enjoy it, there are ways prevent it becoming a problem, and there are possibilities it presents for winning money. Small amounts or big amounts.

There are also ways to be prepared to lose money in the pursuit of winning it...and actually still enjoy the experience. Well, maybe enjoy is a strong word. Perhaps I should say 'accept and not let it hurt'. You can even learn how to place bets that can't lose.

On this page I'm going to explain as many of the different aspects of betting as is practical, starting from a beginners perspective and touching on some higher level concepts along the way.

Video Guide To Betting

We start with an interesting video that gives some insight into the possibilities for winning money with betting. It's specifically around sports betting - just one of a hundred different subjects on which to place bets.

But there's a reason why the central character in this video does report a lot of success - sports betting does offer good chances for a clever bettor (that's someone who bets!) to make profits. We'll examine why later, but take a look first. To the right you'll some other useful betting related articles on this website.....
Betting Explained - Understanding How Betting Works

I could not run a website about winning money without covering the subject of betting in some depth. Making the attempt to win money almost exclusively means risking your own by placing bets on the outcomes of events, and those events - and the ways to bet on them - are almost endless.

As we've already noted - the subject of betting therefore becomes a huge one.

In this section of the site and its associated pages I'm going to examine a number of different aspects of our subject. The enormity of the task means that I could write hundreds, maybe thousands of pages and still not cover every aspect.

My target though is to share enough of the knowledge I've built up over 30 odd years to give you a chance of choosing some winning bets, and placing them on events, games, or sports that you will get a good level of enjoyment from. Over time, I'm confident we can build this section up to be a truly comprehensive betting guide resource.



So where to start?

To the top right you'll find the menu describing the subjects we'll be covering. On first glance it may seem as if we'll never get through it, but each one takes us closer to a deep understanding of what betting is and how it works.

So we'll start at the beginning by exploring a little history, and by the end we'll have completed a valuable guide to betting that will have explained enough about it for you to get involved without any real fears.....

.....And it may well set you on the path to winning long term with your betting selections.



How Did It All Begin? - A Potted History Of Betting



First off, let's look deep into the past to see how we've arrived with betting as the popular pastime we now know. It has a long history as a form of entertainment with the first known records of bets being struck first appearing in records from ancient China and Rome. Ever since then people through the ages have been placing bets as a means of winning prizes such as money or goods.

In recent years the continued expansion in the reach of the internet - and the increasing ease with which it's accessible - has led to an explosion in the number of gambling related sites.

This has opened up opportunities for placing a bet online, whether on games of skill such as poker, games of chance like many of the casino based games or the ever popular bingo, or on those that fall somewhere in the middle such as sports betting where your knowledge - and sometimes inside information - can give you increased chances to beat the odds.



So What Actually Is Betting?



Most people think of betting as an activity which involves money, and of course in most cases it is - but did you know that every time you make a choice between two or more courses of action (that are either uncertain or unpredictable and can either benefit you in some way or not) you're actually betting that you've made the right choice and will get the result you want?

There may or may not be money riding on the outcome, you're betting that you'll achieve the 'right' result. Understanding that betting essentially involves choices is one of the keys to making it fun and enjoyable.

As an example of betting without money, you could make a choice to leave home to catch the bus to work 5 minutes later than normal - in this case you're betting that you'll still get to the bus on time or that it'll be late, or that a later bus will still get you to your destination on time. If you make it, then you've got the bus and that's your desired outcome. If you don't, you're most likely going to be late and you lost the bet.

Conversely there are hundreds of examples I could give of betting to win money, and many are detailed throughout this website, but in both cases you either win by choosing correctly and get the result you want - or lose but don't.

Recognising that choice is at the core of betting principles will ensure that you keep your betting activities under control, and let you play responsibly without causing problems.

So you can see that the 'losing or winning money' element of betting can be a misconception, and this is where the subtle differences between betting and gambling come into play.

When you're playing free games which have an outcome of winning or not winning, then you're still betting, all be it with a free money bankroll.

When you're wagering money on the outcome of a game or event, sure you're betting with that money, but you can see that the choices on whether to bet are always there and under your control, and that placing your bets dependent on the relative merits of these choices should be at the core of your betting strategies.

Of course, betting activity is normally associated with the risk of losing money to win money. This is where the terms 'gambling' and 'betting' become interchangeable.



The Difference Between Gambling, Gaming, & Betting



Gambling is sometimes seen as a harsh and distasteful activity (and for good reasons from a number of perspectives), while betting can often be accepted more lightly. Particularly in the US, both actvities can fall under the umbrella of 'gaming'.

Ironic isn't it. All three - for the intents and purposes of our subject -mean the same thing? But each one resonates differently when you say or hear it.

Here at WinMoney101.com I want you to bet as successfully as possible, and do it carefully.

I want you to enjoy it, get some fun from it, and get the chance to win some money. We can call it gambling, betting, or gaming. Whatever you like.

But there are choices always open to you on how you're going to try to win money, where you're going to bet, and most importantly of all on whether the odds of winning are in your favour relevant to the risk to your cash balance (and most importantly the amount of entertainment you'll get for that risk).

Betting online can be great fun. It can also lead you into problems which become difficult to extract yourself from. Always remember that there is a possibility to lose, and play appropriately with your money. You'll be on a good footing to keep it enjoyable and avoid excessive losses. That's the point that sits at the centre of responsible gaming.
 
Now that we've covered the principle of choice in betting, and how to be careful with our choices, we can move on to look at cash betting and how to bet to win money, including the different types of betting and the best strategies to use for the chance of maximum playing time and profit.
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''Understanding that betting essentially involves choices - that you may or not get right - is one of the keys to making it enjoyable and maybe profitable....''
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