Sports betting is becoming increasing popular, so much so that people of all age groups, except kids and adolescents, are trying to make money out of it.
To a layman, sports betting involves placing a bet on the outcome of a game. If your bet is correct, you attain the sum that you wagered, if not, you lose that amount.
It is estimated that people from the US spend around US$30 billion on sports betting. Their favourite sports to bet on are the football and the Super Bowl.
But, sports betting is becoming a global phenomenon, which is not restricted to the USA alone.
In the capital of Zimbabwe, Harare, a popular shop that allows one to bet on various sports is jam-packed in the evenings.
One of the very few sports betting outlet that opened there, it has, in a very short span of time, gathered an audience among players!
One might spot many investors and stock brokers who bet on sports well. They may have a lot in common.
Both investors and gamblers think that they can predict the future. While betting on the stock market is a more serious affair as it is considered a profession, on the contrary, sports betting is considered to be more leisurely, and is carried out in a more relaxed environment.
There are several types of bets. Some of them include the following.
- Straight bets
- Proposition bets
- Progressive parlays
- Future wagers
- Head to head
Like the stock market, there is some amount of risk attached to placing bets online, so you need to be aware of that.
Two of the junctions that have set the wheels of sports betting in the country on fire are SoccerShop and Supabets.
It is a sad fact that almost half of the country’s population is unemployed.
People have taken the entire episode of sports gambling in a very positive light. It is also said that many youth in the country have opted for gambling as a way of economic survival.
From the beginning of the year till now, almost 1,011 people have lost their jobs according to the data provided by the Zimbabwe’s Retrenchment Board.
The most popular betting game among the people is football, which is followed by tennis and cricket.
It is also said that a significant number of betting websites have opened their businesses in the Central Business District (CBD).
According to Peter Barr, who is the chairman of bookmaker, Mashonaland Bookmakers Association, business in CBD is almost saturated now.
He also said that they may not even issue licenses anymore because it is not viable any longer.
The government in the country had put a stop to giving licenses to limit sports betting. Many punters wait for the major football leagues such as the La Liga, Barclays English Premier and the Serie A to bet.
People also bet at the Wimbledon Championships. Women also comprise 5% of the clientele in a betting shop. Their favourite sport to bet on is dog racing.