Depending on the game being played, there are a variety of ways to bet on it. There are basic bets that can be made, as well as spread betting and proposition betting. These types of bets can be made at any site.
Legality of sports betting in Australia
Whether or not sports betting is legal in Australia depends on the laws of each state and territory. The federal government regulates money and money laundering, as well as competition protections, while the states are responsible for land-based sports wagering.
The laws in each state and territory are often relatively lax, making it possible for sportsbooks to operate without much oversight. In 2001, the Interactive Gambling Act was introduced to restrict online gambling activity. Online sports betting is now legal in Australia, as long as it is done at a licensed operator.
Spread betting vs proposition betting
Despite their differences, both spread betting and proposition betting are widely accepted as the most popular ways to bet on sports. Both are designed to offer a level playing field for potential bettors. While spread betting can offer great payouts, it can also lead to large losses.
The most common type of spread bet is the money line. In this type of wager, you bet that a team will win the game by a certain amount of points. For example, a team that is favored by three points is expected to win the game.
Futures/Outrights and Over/Under or Totals
OVER/UNDER or Totals in sports betting is a type of betting that requires you to predict the total points scored by both teams. The odds will be set by the oddsmakers and you will need to decide whether the total will be under or over the predicted number. This is the most popular type of wager and is a lot of fun.
In sports betting, a total is usually a half or a full number. A team is considered to be the favorite if there is no minus number and the underdog if there is a plus number.
Palmerbet
Founded by the Palmer family, Palmerbet is a sports betting website that caters to Australian punters. Although the website is relatively new, it’s already establishing itself as a reliable bookmaker. Known for their sports betting service and exemplary customer service, Palmerbet has become a trusted name among Australian punters.
The Palmerbet website is relatively straightforward to navigate. It offers users easy access to betting odds on virtually every sporting event. It’s simple to deposit and withdraw money. The website also offers a convenient mobile betting app. It has a wide range of payment options, which include credit cards and PayPal.
Luxbet
Founded in 2008, Luxbet Sports Betting Australia was launched by Tabcorp Holdings Limited. Tabcorp is one of Australia’s leading gaming and wagering companies. It owns Sky Racing, Sky Sports Radio and Tabcorp Gaming Solutions.
Luxbet offers betting markets on major sports as well as racing. It is licensed by the Northern Territory Racing Commission. In addition, Luxbet has additional licensing with the UK Gambling Commission. It has an affiliate program, which provides high-quality marketing materials and commissions up to 30% of monthly net revenue.
MatchBook
During the online gambling boom, Matchbook was among the first betting exchanges to pop up. While it’s no longer a standalone company, Matchbook has remained in business since 2005, and it still offers sports betting in a variety of markets.
Matchbook is best known for its odds, which are often the best in the industry. They cover a wide range of sports and competitions, and are particularly strong in football. They also offer odds on global tournaments like the World Cup.
Blue Bet
Whether you’re an avid sports bettor or you’re a casual punter, you’ll find something for you at BlueBet Sports Betting Australia. It’s a 100% Australian-owned bookmaker that offers a wide range of betting products and competitive odds.
One of the first bookmakers to release odds on big Group 1 races, BlueBet is known for its wide array of horse racing markets, including thoroughbred, harness and greyhound markets. It also offers extensive coverage of popular international leagues and betting markets, as well as local Australian horse racing.
