Your regular trips to the casino (online or land-based) must also include glances at the sports betting section especially if you have a thing for sports, right?
With the football and cricket season in full swing, a couple of bets on your favourite players or teams will serve as a great adrenaline rush and make the game 10x times more enjoyable, right?
If an uncertainty regarding the betting procedure is all that is holding you back from participating in this immensely popular activity, then you need not worry. We have your back and this article will help you get the best deal there is when it comes to sports betting!
What is Sports Betting?
Sports betting is exactly what the meaning the two words convey. While a sports championship takes place, there are several criteria on which you can place a bet. If the bet pans out, then you win a pre-decided amount of money. If your bet does not play out, then you lose the amount of money you wagered. It is as simple as that.
With the global sports betting market increasing in value exponentially (around 3 trillion this year), it is not a surprise that people engage in this activity for not just the adrenaline rush, but also for the joy of making some easy cash. Note that this is not a steady income though!
How Does Betting on Sports Work?
Sports betting is simple enough to understand. As a matter of fact, betting on sports is facilitated via bookies, although nowadays with the advent of the latest technologies and some of the best sports books and online websites, bookies have taken a back seat (especially when it comes to illegal bookies).
In order to learn about sports betting, the first thing to have an idea about is where to place the bets. There are leading and trustworthy sports books and online websites such as Bet365, Betway and more that are licensed and ensure fair sports betting.
The next step is to know how to place bets and how the sports betting you are involved in works in the first place. The basics of sports betting is quite easy to grasp. Two or more groups of people decide on whether an event will take place or not, that is, they bet on the probability of an event occurring or not. A decided amount is wagered. There are odds involved in both sides. The side with the greater probability has lesser odds than the side with the lower probability. Less odds means that the amount to win will be greater and vice versa.
The party which wins the bet gets the wagered money.
Plus and Minus in Betting
Plus and minus in betting are usually involved only when the style of betting involved American style odds. It is used to decided the amount of money that a $100 wager will pay out if the bet wins (this is the plus side in betting) or how much money has to be wagered in order to win $100 (this is the minus side in betting). Plus and minus are also necessary when it comes to point spreads.
Over/Under or Totals Betting
This type of betting is team-based. Here, you have to bet based on the total score of the teams involved in a sports game. There will be a pre-set combined score (say 48.5). You have to bet whether the total score of the combined teams will be more than the pre-set number or less than it. This bet is a particularly good starting point for beginners who are just venturing into the world of sports betting for the first time.
Moneylines
In order to bet well, you need to know what moneylines are. Moneylines are bets where you wager your money on who is going to win a particular event. Here, there is no need to check the number of runs or points scored by the winning team or individual, as long as the one you pick wins.
There is a plus and minus attached to the moneylines bet. The underdog is the plus and the favourite gets the minus. These denote the odds.
How Sportsbooks Make Money?
Sportsbooks usually make their money using the wagering fees you pay them while you place your bets. The fee is usually included in the moneyline bets. Here, the area of profit for the sportsbook is created between what you could win and what you need to wager to win it.
How to Place Bets?
Follow the steps below to place bets:
- Look at the lines provided and choose the team to wager on.
- Decide whether you want to bet over/under, on the moneylines or via the point spreads.
- Choose an online sportsbook or go to a land-based one and make a deposit.
- You will get a betting slip.
- Now wait for the game to be over.
Going from a Novice to a Pro in Sports Betting
This guide provided above is all you need to know when it comes to sports betting for beginners. For more thorough information, a more detailed analysis will be required. However, following the steps given above can make you bet like a professional for sure!
Where to Bet on Sports?
Betting on sports online or live can be a wonderful pastime. Choose sportsbooks which are safe and trustworthy, have plenty of payment methods and are licensed and registered. Check user reviews before venturing further. Bonuses are also important.
F.A.Q.s
How do you actually win in sports betting?
To actually win in sports betting, know the breakeven rate, avoid parlays and place your wagers early.
How do you place a sports bet?
Find a trustworthy site or bookie and make your decisions before placing a sports bet.
Is sport betting profitable?
Sports betting is not a steady income, but if you understand the odds, lines and bets, then small profits can be made.
Why would you bet on negative odds?
Negative odds carry a greater amount as a win so you could bet on negative odds.