Betting is an agreement between two parties in which wager is paid by a party and the other party claims to reward the first party increasingly for predicting correctly, the outcome of a scenario. The rewarder of the outcome is called bettor. Betting since the 1960s has always been associated to sports and activities that warrants a loser and a winner.
Football betting can be described as the operation of predicting the outcome of a football match within 90 minutes of play. There is a slight frequency in football betting, some prefer live bet; a live bet involves predicting the outcome of a match while the match is on; others might want to predict the outcome of the before the match is being played or kick-off, but the fate of both types of player depends on the outcome of the match.
Pool betting is a form of gambling in the sense that predictions are made by people and a fixed amount is paid for entry, once a tax is deducted the remaining amount is shared among those who have made the predictions (Colossusbets, 2016). One of the enticing attributes of pool betting is the chance to win greater sum of money compared to the very sum of amount used to stake. In pool betting the odds are not a factor of consideration, and the prize is distributed among the players. Staking in pool betting involves a high level of risk as it can shrink a man’s wealth or asset. In uncommon terms, desperate players also bet with assets and belongings.
Generally, gambling is one of those things many people will try at least once in their lifetime as most people view it as a quick means of making money or earning extra income. In this our modern day, the process of placing a bet is as easy as taking a glass of water, all you need is a mobile device or a personal computer (PC) connected to the internet, login to a betting site, predict the outcome of a game or match, and wait for the result of your prediction.
Pool betting in a relational sense is similar to football betting in a few ways:
- Stake before profit: Both football and pool betting demands that a player stakes a sum of money before being qualified to partake in a bet.
- Dependency on outcome: In football betting, the outcome of an event is important to the player, as it is what will determine the player’s profit or loss. This is also the same in pool betting.
- Involvement of risk: They are both highly risk involved, a slight change in outcome of the event relative to the prediction might lead to the doom of a personality.
There are also few differences in the mode of operations of football betting and pool betting. To mention but few:
- Football betting does not necessarily need a pool of people before the prediction is made, while pool betting involves more than one person’s participation.
- Money is shared among winners in pool betting, but football betting doesn’t involve a pool of individuals, so there can only be a player and a winner.
Reference
Colossusbets. (2016).How does pool betting works? Retrieved from https://blog.colossusbets.com/pools-betting/
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