Getting Started With Sports Betting
Sports Betting is a particular and ample world as it can bring together various aspects of gaming, gambling, and sports in a unique manner. With multiple faces that range from betting markets, bet types, sports selections, and processes to placing a wager on sports, new users can find sports betting overwhelming.
This “How to bet on sports” piece aims to provide a simplified perspective of sports betting to new users and fans looking to explore a new facet of the gaming industry.
Sports Betting 101
Sports betting 101 works in a unique way. Sportsbooks will allow new users and fans to register and fully use their sports betting services. Once a bettor picks a game, they must settle for a specific type of bet from the provider’s available betting market. For example, if a bettor opts for moneyline and decides to bet on the Green Bay Packers to win over New York Giants, they might do so once the sportsbook has established the Packers as the favorite.
That means that the moneyline for the Packers might be set at -120. Negative odds indicate the favorite team to win the game. If Green Bay wins the game, the bettor will record a $100 win for every $120 wager.
Sportsbooks run numbers through a process where various pieces of stats and data are considered. Sportsbooks will record a win if the bettor loses. However, the house will always calculate the vig or the juice, which is a portion of the earnings a bettor gets if they nail the winning bet and which the house keeps as part of their cut for providing the service.
Sports Betting Odds
Sports betting odds might strike as confusing initially, yet once bettors get the hang of it, they become easy to read. Bettors can start exploring the world of sports wagering with some of the simplest examples. The Green Bay Packers might be the favorite team to win in an upcoming matchup against the New York Giants to pick up on the example mentioned before.
If a bettor wagers on the moneyline set at -120 in favor of the Packers, they are favoring the top team to win the game. Negative odds will always favor the top team. This also implies that for every $120 wagered on the Packers, the bettor will earn a $100 profit.
If the bettor decides to wager on the Giants as the underdog on a +130 moneyline wager, the bettor will make a $130 profit for every $100 bet. This is because favorable odds are linked to the underdog.
That is why reading American odds might strike as challenging in the beginning. Also, starting with a simple bet type such as a moneyline will always help bettors better understand how odds and bets work. For expert bettors, it’s all about gradually exploring the world of sports betting and understanding each step of the way as much as possible.
Getting started might seem a bit overwhelming. Yet, picking up on specific tips such as how moneylines work, how odds function, and how to successfully record a win will allow bettors to become better at their own game.
Here are some of the most common bet types most fans and users might find when exploring the world of sports betting:
Points spread represents the number of points by which a team will successfully pull a win. For example, if DraftKings sets the Los Angeles Rams to beat the Buffalo Bills by eight points, bettors can wager on the Rams to win by more than that amount.
This implies that if the Rams win by nine points or more, the bettor will record a win. Any point difference below that will not allow the bettor to make a profit.
Considered the simplest and easiest bet type in the market, moneylines allows users to wager on which team they believe easily will take a win. For example, if DraftKings has also set the Los Angeles Rams to take an easy win over the Buffalo Bills in the upcoming season, then a 120-dollar wager on the Rams to win at a -120 Moneyline will allow the bettor to make a $100 profit if the Los Angeles team wins the game.
Since bettors pick between the top and bottom teams, moneylines simplify the betting process and reduce it to just a couple of choices. This allows bettors to gradually get into their betting streak and will enable them to approach the world of sports betting.
In terms of totals, bettors will be placing a wager on the total sum of the points scored during a game. For example, say DraftKings has the Rams favored to beat the Bills, and the total sum of the scores is set at 35 points. Then, bettors can wager on whether the game’s final score will hit over or under 35 points, which is the number assigned by the sportsbook.
Parlays are unique and quite diverse. Sportsbooks such as DraftKings will allow fans to link various bets to a single wager. If done correctly, bettors can multiply their earnings if each pick is successful. Conversely, if just one bet comes up short, the bettor will lose the parlay.
Sportsbooks such as DraftKings and BetRivers will set some teams and players as the favorites to conquer a specific championship title in future betting. If so, for instance, bettors could wager on the LA Rams to repeat as Super Bowl championships for the upcoming season on +300 odds. If the Rams win the next Super Bowl, bettors will make a $300 profit for every $100 wager.
Live betting allows fans to wager on a play-by-play basis. Sportsbooks such as DraftKings will allow bettors to wager on the outcome of an upcoming play or result. For instance, DraftKings might enable bettors to keep a close eye every step of the way during the Rams’ first season-opening game to see if they will successfully turn out with a first and ten or whether they will score a touchdown. Live betting allows users to make multiple bets instantly throughout the entire game.