You have recently discovered all the thrills and the adrenaline rush that comes with sports betting and you got hooked on this feeling. If this description fits you perfectly and you want to continue betting on your favorite sports events, we have prepared a betting guide that will usher you to the lucrative betting market and help you win some money while supporting your favorite team or athlete.
1. Understand the Common Terms
Whether you decide to place your bet in a real Las Vegas sportsbook or you opt for an online betting site you will encounter the same system bookies use to determine the favorites and the underdogs, to give the odds, and so on. All of this information will be presented as numbers or marks. All of this can be totally baffling for sports bettors that enter a sportsbook for the first time.
For example, you have to know who the favorites and the underdogs are whether you decide to bet on a college football game or you want to put your money on horse racing. Before they “open” the game for betting, bookmakers determine the favorite and the underdog of that sporting event. The favorites are teams or individuals believed to win, while the underdogs are expected to lose the game. Once this decision is made, the bookies attach the odds to each team respectively.
2. Understand the Odds
The odds are the key to sports betting. The higher the chances of a particular team winning, the better the odds. Favorites always carry the best odds of winning, and you should always begin with the safe bets before you learn the ropes of the trade. If the probability of a certain outcome is highly unlikely to happen the odds for that bet will be higher.
For example, if Barcelona and Ajax end up in the Champions League final, Barcelona will be the favorite here and the odds will be on their side. So it would be reasonable enough to bet on them. However, if you want to risk it and put all your money on Ajax, you can expect a more generous payout in the case that they do win.
3. What Is the Point Spread?
This is but one of many betting options bookies have on offer. While it is quite simple once you get familiar with it, the term point spread can be puzzling for betting rookies.
In essence, a point spread shows the difference between the favorite and the underdog by dedicating a certain number of points to the favorite, because it is expected they will “cover” the spread.
For example, when you want to bet on a basketball game between the Denver Nuggets and the Knicks, the favorites (the Denver Nuggets) will have -7 points to their name. This means that it is expected for the Nuggets to win this game by more than 7 points. If they fail to do this, everyone who bet on them will lose money. On the other hand, the Knicks will have +7 points on the spread, which means that if you bet on them and they lose by six or less, you win the bet.
4. Moneylines Are Important
You can always opt for betting on the outcome. This is known as the classic win-lose bet. In this case, the favorites will carry a − mark, and the underdogs a + mark. Let’s take the example of the Denver Nuggets versus Knicks again. The Nuggets will have −150 points next to their name, as the clear favorite. This means that you will have to invest $150 to get a $100. On the other hand, the Knicks, as the underdogs, will have +150 points to their name; which will net you $150 for a $100 bet in case they win. This way, sportsbooks “reward” all those who decide to bet on the underdogs because they are expected to lose.
5. What Is Betting on the Total?
Some sportsbooks may offer bets connected to the (total) number of points scored during a game, by adding their predictions to the betting line. You can then choose to either bet over or under the estimated total points score.
For example, the predicted total of the Nuggets-Knicks game is 195. If you choose to go “over” and they score 196 points in total, you win this bet. If they fail to score the assigned number of points, you lose your money.
6. Do Your Homework Before Betting
While many people believe that winning at online sportsbooks is pure luck, there are a number of reasons why you should use valuable info or statistics you can find on the Internet. Even sportsbooks rely on the odds they assign to teams on essential things like statistics and performances. They can also take the weather conditions and the advantage of the home field into consideration. If they think all of these factors are important when making a bet, why should you ignore them?
Being well-informed nowadays is a must in the world of online gambling and betting.
7. Place Your Bets Wisely
However confident you may be, don’t rush into splurging your bankroll all over the place. The general rule for beginners is to apply flat betting. This term means that you should invest an equal amount of money on each game of your selection and that this should range from 1%–5% of your bankroll per game. Sports betting is a long term adventure, and just like any other form of gambling, it is a wild rollercoaster ride where one minute you can be winning big and the next one you can hit rock bottom. So, take care of your bankroll.
8. Keep Track of Your Bets
This tip is closely related to taking care of your bankroll. Use a pen and paper, or an Excell sheet and start writing down your bets and outcomes. This way, you will have control over your money and your game. Remember, you will need time and experience to become a successful sports bettor that wins every time. Your betting records may help you learn from your decisions and devise a winning strategy and increase your chances of winning.
9. Profit from Generous Bonus Offers
All the sportsbooks offer generous deposit bonuses and free bets to attract new bettors. This may sound amazing, but not everything turns out as promising as it seemed so in the beginning. You should always check what the terms and conditions for using these welcome bonuses are. The wagering requirement is pretty important for all bettors because it shows you how much money you would have to spend betting before you can get hold of your winnings.
10. Control Your Temper
This can be a general “how to live a life” tip, but keeping cool when placing a bet is essential. Whatever the course of events may be, whether you are winning or losing, try to stay collected. Don’t complicate. If you are on a losing streak just stop betting and don’t try to regain your losses at all costs. On the other hand, don’t get too carried away with a couple of winning bets, because everything can turn upside-down in seconds.
We hope that you’ll find all these tips helpful. The next time you hit any kind of sportsbook, we are sure you will win big if you stick to the advice from this list.