Sports betting is a popular activity and a growing market. Bookmakers and online sites offer betting opportunities for many of the most renowned sports across the world, such as football, American football, and basketball. Running has not yet gained any notoriety in this department. It seems that people like to bet on horses running around a track, but not humans.
It’s interesting that the all-time high for bets taken at a Super Bowl event is well over $150 million. That’s huge for a single event. Running has not gathered the same pace in this area. Let’s take a look at the reasons why the races you can bet on and the strategies you can use to get ahead.
Sports Betting and Running Market
Running would actually provide an exciting outlet for punting, especially long distance trail and marathon runs. It involves constantly pushing the limits of the body and mind, individuals competing with each other and for their own personal bests, most of whom have true love and passion for the sport.
In reality, betting on running races is quite obscure and not widely available. It’s rare and difficult for betting fans to get to grips with the running world, and bookmakers do not facilitate bets often.
Most of the bets for running races are taken for major televised sporting events such as the Olympics and London Marathon, which was won this year by Eliud Kipchoge. In Europe, there are some running tracks that take bets at kiosks for customers within the facility, and you are more likely to find sports betting markets. The US market is even more stifled when it comes to betting on running races. Up until recently, Las Vegas was the only state in which sports betting was permitted. Following 2019 changes, the market will open up to more states, and US punters will be able to use apps such as Fox Bet. This should introduce more options to the maturing space, though it is yet unclear whether running will be on the list.
Betting On Running
So far then, betting is mostly restricted to the major televised running events, and when available the betting options themselves are usually limited to picking the overall winner, and maybe first three places.
Aside from this, betting on running is strategically very similar to betting on other sports. Research and preparation are the keys to finding the right selections and odds. You should study the competition thoroughly to find front runners and worthy underdogs, and then fine-tune your selections.
Study the competition, their strengths and weaknesses, suitability for the course, previous track records, scores and times, and any recent illnesses or injuries. Even running with a cold can reduce a frontrunner’s chances. In a typical race, there may be thousands of runners. If you could bet on each runner’s individual times and whether they will achieve their personal bests, then this would get complicated, but as you can only currently bet on the winner or top three, it’s fairly simple to make your shortlist of possible winners. Of course, running trails or marathons can be very unpredictable, and a lot can happen in a long distance race, but this only makes betting more exciting.
Popularity and Suitability
As discussed, running typically has little or no TV or media coverage. This means there is a lack of awareness in the minds of the general public. It also makes betting a little less exhilarating, as it can be difficult to actually watch the race that you have bet on, and nearly impossible to find relevant stats and information during the build up. This lack of information and coverage creates a certain amount of inaccessibility.
Adding to this is the fact that other sports have games on a regular basis, perhaps several per week during their season to keep regulars happy, as well as major events and finals that pull in the crowds. This means that casual punters can make more frequent bets as a hobby, while serious betters can be more selective and find their perfect selections.
This is simply not the case for sports betting, at least not at the moment. There are only a handful of international races, though there are many local events. Until coverage is gained and the number of events increases, it’s unlikely bookies will show an interest. For now, we can enjoy trails and marathons for what they should be. A sport for individuals who love to push themselves to the limit simply for the love of running.