Gaining money without working is called betting. Betting is the process of selecting an event which occurs first compared to all other event. Betting is an approach of gambling that is making profit without work. To be successful the gambler must overcome from the event to be occurred at last. A bookmaker is a person who is in charge for conducting betting. A bookmaker is also called as turf accountant or bookie. Bookmakers take a range of bet for the sports event. Bookmaker mostly bets on the event horse racing and football. And also bookmakers bet on the event such as award winning ceremony and election. Mostly in United States America the bookmakers bets on the event horse and football. In some countries betting is legally permitted by the government. The countries that allow betting to occur are Canada, Japan, Sweden and Singapore. In some countries the betting is strictly forbidden. If the bookmakers runs betting organization without government knowledge then is called as illegal act. There are many betting strategies to be followed while betting. The types of betting strategy is fixed odd betting, pari-mutuel betting, sports betting and arbitrage betting.
Fixed odd betting is similar to the pari-mutuel betting. The fixed odd betting occurs in the sports event. The fixed odd betting is the form of betting where the bookmakers offers odd betting. Fixed odd betting is the betting on the event like reality shows in television channel sometimes may occur on election event. Pari-mutuel betting is the process of betting on the event horse racing. Pari-mutuel pools are the place where the pari-mutuel betting takes place. Consider if a person A bets on the horse A and person B bets on horse B when the race start if the horse B wins the race then person B takes the money from the opponent. If the person C bets on the winning horse B then person B and person shares the money. Horse race betting had become popular among the gamblers. Sports betting are the process of betting on the sport event such as football and basketball. The gamblers in United Kingdom mostly bet on football event. There are many types of bet includes on the united state of America is money line bet, spread bet, proposition bet, parlays, and teasers are the common types.
Arbitrage betting is the betting on trading and gambling. Bookmakers create large organization in the marketing for betting on the trading is called arbitrage betting. Other types of betting is the statement betting means person A says the event will occur and person B says the event will not occur. If the person a statement is true then A wins else B wins. The statement betting is true or false betting. True statement is called back bet and false statement is called lay bet. The widely used betting strategy may include split martingale, anti martingale, Kelly criterion card game, sports, roulette and martingale. Betting should be played legally with the knowledge of government. Be aware of betting else it leads to loss of wealth.