It is no surprise that sports betting is integrated online. It has made it possible for many people to wager even in the comfort of their homes. Truly, technology has made it easier for many to participate in the fun and thrill of the betting world.
Sports betting is also a chance for you to support your team while earning. If you are a newbie in this area, it can be a bit difficult to navigate your way through the rules and jargon. So, if your interest is spiking and you’re itching to play, here are simple steps to cast a bet on your favorite sports.
Choose A Bookmaker
A bookmaker is a site or company that is legally regulated under the law to accept wagers placed by sports bettors. They facilitate, place the bets, and payout the bettors if they win. Moreover, bookmakers are legal. They are licensed to modulate sports betting.
In choosing a bookmaker, know that you can’t trust every single one you find on the internet. Hence, you must first look for online reviews and past customers’ experiences to guarantee their services. Since they are the ones that will accept your money, and the ones who are responsible for paying you, then it would be best to choose the most reliable one available.
Pick A Sports Event
Now that you know where to place your bets, you need to decide which sports and sports event you will be betting on. Depending on your bookmaker, most sites accept bets for many sports. That is why it would be best that while you are deciding on what bookmaker to partner with, you must also first choose what sports to bet on.
For instance, college football leagues have popular matches, but not all bookmakers cover this sport. For example, one of the most visited online bookmakers, the FanDuel Sportsbook, caters bets for NBA, MLB, NHL, PGA Tour, and a lot more. That is why it is essential to properly decide what bookmaker to sign up for.
Decide The Type Of Bet
Next, after picking a sport, you will now decide what type of bet you will be getting. This part is the most exciting bit of sports betting. It is where all the fun begins.
So, a sportsbook is the one that offers different types of bets on various sports. Depending on your bet, you can get varying amounts of payouts. Similar to sports, not all sportsbooks offer the same type of bet. To get you started, here are a few of the most popular types of bets you can place for sports:
- Totals. For this type of bet, the bookmaker will present a predicted total score of both teams or players. You will only need to choose whether the final total score will be more or less than the bookmaker. However, if the bookmaker predicts the exact score, the bets will be refunded to people.
- Spread. Spread betting is almost similar to Moneyline, except that the favored team must win a particular total gap against its opponent for you to payout. On the other hand, if you bet for the underdog, the team must score more than their odds or just win against the favorites.
- Parlay. This type involves betting on numerous independent events. So when betting parlays, if you placed a wager on three unrelated matches of that particular sport, all three teams or players must win on their events. If not, you lose your bet. If only a team or two wins, you still lose your chances. Again, parlays require you to predict the winners of several independent matches to win.
- Futures. Futures give you the chance to bet on matches that will take place sooner. It is usually the sports kickoffs, championships, and the like. This type of bet is usually available during the start of the season and will take place throughout the season.
Understand The Odds
After settling for the type of bets to get, you must then understand the odds. It is crucial because the numbers in odds will tell you whether you will win the bet or lose it. Above else, off it would present you the odds of that team winning the sport and the amount of money you can probably payout if you win your bet.
- Fractional. You can distinguish fractional odds with a hyphen or a slash. The odds with a bigger numerator is the favorite. This type of odds presents you with the profit ratio with the initial bet.
- Decimal. This type of odd is more popular outside of America. The decimal odds will present you with the total profit you will get if you win.
- American. This type of odds is also called Moneyline odds. All the odds in American odds are accompanied by a plus or minus sign. Plus signs are for the underdogs, while minus signs are for favorites of matches.
Always Bet Within Your Means
Most importantly, place a wager on sports betting only if it is within your means. As fun as it sounds, sports betting is accompanied by risks. Still, the higher the risk, the higher the payout would be.
Keep in mind that what makes sports betting all fun is its opportunity to earn, but there would be no fun if you end up having so much debt. So, always remember, only spend on amounts within your budget.
Final Thoughts
These steps and guidelines are the first steps for sports betting. The ultimate decision will still come from you and the bets you will stake. Also, ensure that sports betting is legal in your state so that you can have fun and continue playing as much as you like!
