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Sports Betting Basics
Bree Estabrooke
Created on December 7, 2022
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Sports Betting Basics
Risk
Events
Market Selection
Odds
Stake
Use this training to learn more about the elements of Sports Betting. Click each element to dive deeper
Exploring the Basics of Sports Betting
Element: Event
Event
Every event has common elements:
A Beginning and an End
To bet on something, there needs to be something happening to bet on! That something is known as the event. Click on the common elements on the right to learn more!
Results
Unpredictable Outcome
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Element: Market Selection
Market Selection
Market Selection Steps:
Event
The term Market Selection refers to the selections a player makes when placing a bet. A player must select an Event and a Bet Type. Click the Bet Type button to learn more!
Bet Type
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Element: Odds
Odds
Hard Rock Sportsbook uses American Odds, but there are 2 other types of odds used around the world. Click the odds to learn more about them and how they work.
American Odds
Decimal Odds
Fractional Odds
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Element: Stake
Something to remember:The level of a stake is relative to the bettor. It's best never to comment on a stake being either high or low.
A stake is the money a player risks when placing a bet. If the bet wins, the player will receive a payout based on the initial stake. If the bet loses, the player will lose their initial stake.
Stake
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Element: Risk
Risk
The element of risk is the exciting part of betting. This is what brings most players to bet with us! The possibility to win big off of long odds or lose everything on a sure thing is what drives the thrilling experience that Hard Rock Sportsbook offers. No favorite is 100% to win, and no underdog is guaranteed to lose. This risk is reflected in the odds, as well as the payout.
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You now know the elements of a bet