Did you come to know that your friend/relative won a huge amount through online sports betting? Are you inspired and wish to test your betting skills? Don’t know where to start? Well, just follow this guide and understand everything about online betting in Philippines.
Nowadays, sports betting is becoming increasingly popular, especially in Asian countries including the Philippines. Many sports enthusiasts of the Philippines have earned a fortune from sports betting. You can also join the league and who knows, you might land with huge winnings within a few bets!
Before understanding where and how to bet, first, let’s look into the legal status of betting in the country.
Is sports betting legitimate in the Philippines?
Yes, online sports betting is legal in the Philippines. Looking at the interests of citizens, the Philippines has its organization named Philippines Amusement and Gambling Corporation (PAGCOR), which regulates gambling in the country. Furthermore, it is the only nation in entire Asia to license online casinos. Those looking to start online betting in the Philippines, can choose from several international and national betting sites.
What is sports betting?
Well, it is a form of gambling that involves placing a bet (also known as a wager) on the result of a sporting event. You can bet on different sports from football, basketball to boxing. The main purpose of the betting is to win extra cash. Unlike casino betting, sports betting is not purely based on luck. You need to apply your skills and sporting knowledge to place a winning bet on different sports.
Types of sports betting
In the case of sports betting, you can choose a suitable sport and then pick an event to bet on. Generally, individuals bet on the outcome of the match. In addition to that, you can also bet on other aspects of the match like runs, wickets, goals, players, etc.
Now, let’s have a look at the style of betting that you can choose from.
- Live Betting
It is a popular form of betting and usually involves betting on live events i.e., placing a bet during the game. This style of betting is gaining popularity because it allows bettors to take benefit of high odds. Since odds keep on changing with the events of the match, a sharp bettor can capitalize at the right moment when the odds are high.
- Pre-match Betting
Unlike live betting, the pre-match betting involves betting on an event before it starts. This kind of betting is quite popular among bettors who don’t want to sit for long hours in anticipating the outcome of match.
- Exchange Betting
This kind of betting usually involves betting against your family/friends or other bettors. Here, you don’t bet against the sportsbook (usually referred to as the betting exchange).
In case of exchange betting, you can choose a side to bet on and then another person comes in and bets on another team. Hence, if you win, you will get cash excluding the betting exchange’s fee. If your opponent wins, then he’ll take the entire winning amount.
This is quite interesting…isn’t it!! But, if you want to make a significant amount out of it, you need to fully understand the concept properly.
- Matched Betting
This is another popular yet common form of betting that involves placing risk-free bets in return for small wins. Yes, you heard it right- “Risk-Free”!!
In this style of betting, you will use the incentive offered by the bookmaker in making smaller bets. You can place multiple bets on the same sporting event and consequently, you’ll end up earning profits.
Getting Started With Online Betting
If you’re an experienced bettor, then wagering might not be a big deal for you! But for beginners, it could be a bit complicated. However, after reading this post, it won’t be difficult for you!!
Now that you’ve gone through the style of online betting, you need to understand how you can place your first bet.
How to Place a Bet Online
The following are the steps to place a bet online;
Step 1: Firstly, you need to select a sportsbook. If you have no idea how to pick one, read the next section first and then come back.
Step 2: Create an account with the chosen sportsbook
Step 3: You need to deposit some amount in the wallet to place bets. You can select a suitable payment method (bank transfer, credit/debit card, e-wallets) for the same.
Step 4: After that, you need to visit the betting section, pick a sport, and choose the event. Once you’ve done all this, this would be automatically added to your bet slip.
Step 5: At last, you need to enter the amount you can invest and confirm to place your bet.
What to look for in a sportsbook?
Here are things to consider while choosing a gambling site.
- Excellent Security
When it comes to gambling sites, it’s incredibly important to be safe online, especially when your money and personal information are at stake. That’s the reason, you should consider licensed betting sites as they use advanced encryption and firewall security to keep their players safe.
Because these sites are licensed, you don’t need to worry about security as you can enjoy placing bet knowing you’re 100% safe. It also guarantees payments.
- Free Bets and Bonuses
There are many bookmakers that offer bonuses and rewards to new users as a part of promotional offers. You can look out for these offers and make the most out of them. However, you shouldn’t simply fall for the offers.
It is advised to check the terms and wagering requirements associated with the free bets and bonuses. You should finally choose a bookmaker that offers good bonuses along with decent (viable) terms.
- Great Reputation
There’s no denying that everybody likes to bet with a site that their family or friends are using.
And when it comes to reputation, you should choose bookmakers that are known for their millions of satisfied customers. You can go through reviews and ratings of the sportsbook to find the most reputable ones.
Sports betting, unarguably, can be both potentially daunting and exciting!!
If done right, it can turn out to be highly rewarding. Hopefully, this guide has shown you the way to care-free betting. Don’t forget to apply the tips shared above and you’ll get exceptional results in no time.