The best sports betting guide for beginners
Compared to other countries, South Korea is fairly new to sports betting games, having only legalised all forms of it, including online sports betting, in the late ‘90s. That’s why you can trust its regulations to be updated with players’ safety and well-being in mind.
Having regulations keeps all establishments in line and protects Korean players from fraud and addiction.
If you’re only stumbling into this world, know all things sports betting in Korea here at Stake Casino. Trust this guide to tell you all about odds, online betting and sports betting bonuses to help you make the most of your bets!
What is sports betting?
Sports betting is the act of placing bets and risking money on the outcome of any sports event. When you place a bet, only one of two results are possible with the exemption of spread betting, you lose everything you wagered, or you make a profit based on the odds set by the bookmaker.
You can bet on a team or individual sports like basketball or tennis, respectively. It’s not just limited to traditional sports, however. Esports gambling, as well as virtual sports betting, are also available now.
While the former is a bit more straightforward—you just place bets on an esports team—the latter may be new to you. Essentially, virtual sports betting is when you place wagers on a game run by a random number generator (RNG). The game ‘plays’ in front of you, and your goal is to correctly predict the game's outcome for you to claim your prize.
How does sports betting work?
Sports betting comes in many different forms, each with varying sets of rules. However, the mechanics stay the same regardless of the sport. During a sports event, bookmakers decide the odds of certain events, and you bet on whichever event you think will happen. If it turns out to be true, you win based on the set odds.
You can bet on several different aspects of a game, including, but not limited to, the winners of a match, the total number of points scored by a team, or even the statistical performance of a player.
When betting online, you have to carefully choose which sports betting site you want to play on. These act as the bookmakers who decide the odds, dictating how much you win or lose.
Here is a quick guide on betting on a sports match online:
- Choose an online sports betting site like Stake Casino.
- Pick a sport and match you want to bet on. Browse through the live events or those that are starting soon.
- You’ll find the available bets beside each event. Click which you want to wager.
- Check your bet slip to confirm your bet and place it.
- Wait for the event to end to know if you’ve won or lost.
The most popular games for sports betting in Korea
Sports events are a big part of South Korean culture. Korean sports fans are relentless in supporting their favourite teams no matter what games they watch. Each sports event will have different sports betting types they follow, so if you’re interested in trying, read up on the event’s mechanics.
Below are three of the most popular sports in South Korea, each one you can expect to see in the biggest leagues:
Baseball
Baseball is the most popular sport in South Korea, with about 62% of the population claiming it’s their favourite sport to play or spectate. The Korea Baseball Organisation (KBO) League is widely beloved within the country, with 10 franchised baseball teams.
Because of its massive popularity in the country, baseball is the most common sporting event for Korean sports bettors to participate in. There are three main options for betting in baseball in Korea: money line betting, run line betting and the game’s total.
Football
Football is the second most popular sport in South Korea, with almost 41% of the population enjoying the sport. South Korean teams and players thrive internationally and can compete with the biggest league’s top players.
2002 saw the FIFA World Cup co-hosted between Japan and South Korea, which ended up being the latter’s most successful season, with the national team finishing in fourth place.
Sports betting for football events has become very popular online for South Korean fans. Because of the sport's local and overseas success within the country, fans can bet on the local and international levels.
Basketball
Basketball is the third most popular sport in South Korea. Although its reach does not extend as far as baseball or football, it still manages to be one of the biggest sports in the country. On the international stage, the South Korean National Basketball team has won 25 medals at the Asian Basketball Championships, cementing their title as the best team in Asia.
The sports betting scene for basketball events continues to draw in sports fans, especially thanks to how easy it is to bet on these events.
Sports betting types to choose from
There are several different types of betting. Each one is used for specific events and requires different strategies for you to maximise your wins and minimise your losses whenever you make a wager.
The main key is to pay attention to the betting lines set by the sportsbook and place a bet based on what you think will benefit you the most. Here, we’ll discuss the three most common types of sports betting:
Moneyline betting
The most common type of sports betting is moneyline betting. This is the easiest to understand because it only focuses on the outcome of the game. The bottom line here is that if your team or player wins, so do you. All you need to do is make an informed prediction and place your wager on the team you think is more likely to win.
Point spread betting
Point spread betting is common in basketball and football games. A point spread bet is when you wager on the margin of victory between two teams. It depends on how many points your team scored by the end of the game and how close the game was.
Essentially, the favourite must win by a certain amount of points for you to make a profit. The underdog will have to lose by fewer points or win the game.
Parlay betting
Parlay betting is when a bettor makes multiple bets and combines all of them into one wager. It’s a risky form of betting since all of your bets must win for you to win a parlay bet. Just one loss will lose everything else. The catch is that most sportsbooks will reward you with a higher payout if you win a parlay bet.
Sports betting guide: Tips and strategies for new players
Understanding how sports betting works is the easy part. The challenging part is making sure each bet you make goes in your favour. When betting on sports events, it helps to follow these sports betting tips and strategies to increase your bankroll:
Pick the sport you’re most knowledgeable about
If you’re only starting in the field, choose the sport you’re already familiar with. This gives you a headstart with learning the ropes and which bets to place. For example, if you’re already familiar with football, start betting moneyline bets first for better odds. If you want better winning chances, place your money on the favourite.
This helps you make accurate predictions since you already know what to look for. Master all you can about this sport before moving on to another and trying your luck there.
Gather information about the team/player you’re betting on
Sports betting is all about understanding the odds and relying on statistics to make an informed decision on what team you should bet on. You can rely on sports betting odds to tell you the favourites and the underdogs and which teams to pay attention to.
Then, look at previous games for the team you want to bet on and use their overall performance to arrive at a decision. You can learn more about the team dynamics, their history, coach etc., to get vital information that can affect the game’s outcome
Build experience with small bets
A tried and tested sports betting strategy is simply learning through experience over time. No matter how much research you’ve done, you won’t retain anything if you don’t apply them in sports betting. So place your small bets, see where those take you and analyse why they worked or didn’t.
Once you have first-hand experience, you can learn about advanced sports betting strategies and even create your own. You’ll then be on your way to becoming a better punter.
Betting online: Why choose online sports betting?
There’s no easier way to bet on sports now than through online sports betting sites. Here’s why:
Accessible and convenient
Online gambling has been around for a long time, and its best feature is how easily accessible it is. Having an online platform is just more convenient since you can play from anywhere and still have the same thrilling experience you can get from playing at a traditional establishment.
Various payment methods
Online sportsbooks don’t limit your form of payment. You can use real money or cryptocurrency to make your payments, depending on what you prefer. Trust a sports betting site that supports a wide range of fiat and digital currencies.
Exclusive promotions and rewards
The best part about online gambling is the sheer amount of sports betting promotions and rewards that online casinos and sportsbooks offer. You will have several opportunities to enhance your gameplay thanks to the bonuses you can earn.
Stake Casino: Bet wisely using your sports betting guide!
If you’re interested in starting your sports betting career, look no further than Stake Casino! You can rely on the best odds on our reputable sports betting site. Thanks to our several payment methods, we make transactions quick and simple for you.
Register an account and deposit now at Stake sports betting to start winning with your favourite teams!
Frequently asked questions
What is sports betting?
A sports betting game involves wagering on the performance of a team or individual athlete and predicting the outcome of any sporting event. You have numerous betting options in one tournament or match, such as the winners of a match, the margin of victory between teams, or the statistics of a game.
How does sports betting work?
You place a wager on the team you think will win or give you the outcome that you think will happen. If your team wins, you make a profit, and if they lose, so do you. The sportsbook predetermined the odds based on each team's performance and can change as the game progresses.
Can I place bets on my mobile device?
Yes, you can! Stake Casino has a handy mobile app for you to download and make bets from the palm of your hand!
What is the most profitable sport to bet on?
South Korea’s three most popular sports are baseball, football and basketball. We recommend you bet on these three sports to make the most profit. Its popularity also helps with making sports betting predictions because of the amount of resources you can find online.
How to bet on sports?
You can bet on any sportsbook, such as our very own Stake sports betting platform. Just create an account, make your first deposit and begin making wagers!
