Greetings to all sports fans! Do you want to become a sports betting enthusiast? Great choice! Placing a wager can add an extra level of excitement to any game. Isn’t that, right?
When you’re just getting started, it’s natural to feel a little overwhelmed. After all, this industry spans the globe and involves billions of dollars. But don’t worry, we’re here to help! We will explain all the basics of sports betting that you need to know.
What is Sports Betting?
At its core, sports betting is pretty simple. You are essentially wagering on the outcome of a sporting event. But like we said, things can get a bit more complicated than that. You can play all types of different bets, and each one comes with its own set of risks and rewards. So it’s essential to understand what you’re getting into before placing any bets.
Where Can I Bet?
That’s a valid question! However, it’s always safe to do your research. Luckily for you, there are plenty of sportsbooks with a good reputation in the industry. These days among the most popular and reliable sites include USLeaguesBetting, where you’ll find reviews for online sportsbooks.
Types of Bets
Moneyline bets, point spread bets, and parlay wagers are the three most common types of sports wagers. Let’s have a look at each one in further detail:
Moneyline Bets: A Moneyline bet is simply a wager on who will win a game. The Moneyline bet is not based on the score. You can place it on any team or outcome in the match.
For example, if you place a $100 bet on Team A and have odds of +150, then Team B would have to lose for you to win the bet. However, it’s important to note that these bets come with higher risks because they have a high payout potential.
Point Spread Bets: Today, point spread bets are among the most common kinds of sports betting. In point-spread betting, odds-makers set an estimated number of points by which one team will beat another in a given contest – usually by a touchdown or three points. On the other hand, if you bet on the underdog, they will have to win by more than this number for your wager to payout.
For example, let’s say that Team A has odds of -110 and is favored over Team B, with odds of +100. If you place a $100 bet on Team A and beat Team B 23-17 in the game, you’ll get your money back plus an additional $90 because they won by six points (23-17 = six).
Parlay Bets: Parlay bets are also popular sports betting options among rookie players due to their high payout potential. In parlay bets, you combine two or more bets into one, and if all of them win, you’ll get a much bigger payout than if you’d placed those bets separately. However, the downside to parlay betting is that you lose the entire bet if just one of your wagers loses.
How Do I Place a Bet?
Placing an online bet is more straightforward than ordering pizza! It really only takes five minutes or less once you get used to it – though getting back, you might win a different story!
Here’s how you do it:
Step One – Select the Sport You Want to Bet On
First things first, select which sport you want to bet on. If there are multiple sports available in your online sportsbook, simply click on the one that interests you most or where you feel like making some cash.
Remember that you can only bet on games available in your sportsbook. So, don’t expect to find a live cricket match between India and Sri Lanka if your online bookmaker doesn’t have the right to offer bets for this game.
Step Two – Choose the Type of Bet You Want to Place
Second, you need to decide which type of bet you want to place. We have already highlighted the most common types of bets above.
All you have to remember is to place the bet smartly, and you can be a winner. The bookmaker always has the advantage; therefore, you must learn how to make smart bets to win against them.
Step Three – Decide How Much You Want to Bet
Third, you have to decide how much money you want to bet with. You should know that most online sportsbooks have minimum amounts for placing bets set up by default (they usually start from $1 or one euro).
However, some sites may allow lower deposits, so keep your eyes peeled! Check out the FAQ section if there isn’t any information on site pages about this issue.
Step Four – Choose a Betting Category
Now that you know what sport you are betting on, it is time to choose the right category of bets.
There are three major categories: single bets, multiple bets, and system bets. In the single bet (or the straight bet), players only place one bet, whereas, in both numerous systems, they have more than one option at their disposal.
A specific type of system betting is called combination, where all your selections need to win for you to get paid out by your bookmaker (because there will be fewer winning combinations). Of course, this means a bigger payout and higher risk so keep that in mind when making your choice!
Step Five – Selecting Your Bets and Placing Them
Now that you know the different types of bets and what to look for when choosing a bookmaker, it’s time to place those bets!
When placing your bet, you’ll need to decide on the following:
- Which market do you want to bet on? (e.g., Match Winner, Handicap, etc.)
- What type of bet would you like to make? (e.g., Win Single, Double, etc.)
- How much are you willing to risk?
Once you’ve decided all that, it’s just a matter of putting in the details and clicking “Place Bet.” You can also use your mobile device these days, which is great if you’re out and about and spot a good betting opportunity.
Avoid These Common Rookie Mistakes:
Betting on too many markets can lead to confusion and increase the chances of making mistakes. Stick to betting on one or two markets only.
- Not researching your bets enough – don’t just bet on a team because you like them, do some research into their form, recent results, etc.
- Bets for fun – remember that sports betting should be seen as an investment and not just for entertainment purposes.
All the Best, Player!
So, do you think you’ve got this figured out? Well done! Betting on sports is a thrilling experience, and it may be quite profitable if done correctly. Rookie, make some money!