Go to Head Wagering Explained. Gamble Sorts
Head to Head gambling is a form of fixed odds betting, where you can wager on the result of a specific event or a number of events.
The first set of betting markets, known as “set-based”, were developed in Japan and were called “telex”.
Telex betting still exists in a form in which traders purchase shares and wager on the stock’s share price increasing or decreasing in value.
Advantages of this form of betting include high liquidity and low volatility; however, problems occur with the randomness of the events.
In 1985 the term betting markets was coined to refer to those markets which deal with multiple events and offer a wider range of values than telex.
Virtually all sports betting uses bet types other than telex, although telex betting is still common in horse racing.
Another variation of bet types is combined (or “permutations”) bet type.
Combinations of bet types are created by splitting a single bet into multiple bet types by choosing an odd or even numbers for a single bet, or by choosing a numbered group of bet types, such as doubles or triples.
Some bookmakers use this type of betting to exploit their customers with multiple bets, as the bookmaker will lower odds if each bet type loses.
For example, to win £20 on a two-team handicap cricket match the bettor has to win on two teams to gain £20; this is the same as if the bettor had put £20 on each team, such as £20 on England and £20 on Pakistan.
However, if the England team lost, the bet would be deducted from the bettor’s wager, as if each player on the team lost the bet would be reduced.
These “advantages” can have a negative impact on bookmakers, however.
This form of betting was introduced in the USA in the early 1970s to capitalize on a prohibition of greyhound racing, which meant it could be conducted on Sundays.
The bettor’s limit must be at least three and no more than seven.
In the US, the largest bookmaking operation is the Caesars Palace sports book in Las Vegas, Nevada.
Within Caesars Palace, the sports book takes in more money per year than any casino on the Las Vegas Strip.
In the United Kingdom, betting shops such as William Hill Bookmakers, Betfred and Bet365 are a common sight.
Bets on sports including football, horse racing, darts and greyhound racing are popular, although it is more popular to gamble on games in which a team from an ethnic minority or lower social group can win, such as football.
Some UK betting shops are open 24 hours a day and others allow customers to gamble in the car park.
Online bookmakers such as Unibet, William Hill, Ladbrokes and Betfair are also very popular.
With the increasing availability of mobile betting, there are increasing numbers of people who choose to play casino games on the go.
Casino games such as blackjack, roulette, baccarat, and craps, as well as video slot machines, are available as downloadable apps, which allow players to play these games at any time.