This sports betting guide begins with the basics of sports betting online and then dives into strategies designed to win money betting on sports. Here’s what you’ll learn:
You have 3 options for placing bets on sports – take a trip to one of the Las Vegas sportsbooks, find a local bookie, or sign up at an online sportsbook. Of the three options, online betting sites are definitely the easiest and most convenient way to bet money on sports.
Betting real money on sports is one of the world’s favorite pastimes. By some estimates people wager over $250 billion a year on online sports betting, with $100 million bet on the Super Bowl alone.
The reason for the exponentially increasing popularity of the sports betting industry in the United States? Not only does online sports betting provide an extra layer of excitement while watching sports, but it can also be a lucrative pursuit for those who take time to learn about odds, picking winners, line shopping and how to use online bonuses profitably.
There are a massive number of scams on the net, so please do your homework before joining any online sportsbook. Rest assured, however, that the online betting sites mentioned above are all highly reputable. Our list of trustworthy sportsbooks will subsequently help you avoid the time consuming and confusing process of comparing the various sportsbooks against each other in order to match yourself with the best online sportsbook for you.
Gamble Online reviews are thoroughly researched, detailed and provide excellent information on the overall benefits that each reviewed sportsbooks has to offer. Before diving into a sportsbook or betting site, however, here are a few additional online betting tips to help you get started:
Read everything you can about the sports betting platform, the betting opportunities it offers, all available sports betting promotions, and its various payment options. You should also take time to check out its customer service options, as well as familiarize yourself with the ease of its user interface.
Furthermore, you should read through the terms and conditions of the betting site, especially as regards the various bonuses in offers in order to avoid any unwelcome surprises. Most bonuses and site offers, for example, have a wagering requirement (sometimes called a rollover requirement), so it’s therefore smart and prudent to find out exactly how much you need to wager before being able to cash out your bonus money.
Also, be sure to check the minimum and maximum deposit and withdrawal limits to ensure that they fit your bankroll.
If you are a complete novice and wish to learn how to place bets, plenty of betting sites will provide you a step by step guide to betting. These are generally very useful and will help you start betting quickly, whether its betting on the Super Bowl, March Madness, Stanley Cup, World Series, Kentucky Derby or any other sports event.
When learning how to bet on sports online, start with small stake bets and gradually increase the amount only after you understand how that particular bet works. In other words, manage your bankroll wisely. After all, it is your hard earned money that is at stake here. Moreover, only bet the amount you can afford to lose, which should be funds that you have left over after you have met your other regular expenses.
Keeping this in mind, you can now begin looking for online sportsbooks or other betting platforms and products that make online betting for beginners easy.
Three of the most popular forms of online sports bets are moneyline, point spreads and totals (over/under). The information below explains each of these bets offered at the sportsbook in simple to understand terms.
A money line bet is a sports wager on which team will win a particular game. The money line wager is the most popular way to bet on hockey and baseball, but exists also for basketball, football and other sports. In this type of bet, the payout is the same regardless of how many runs or points scored by the team you wagered on.
Placing money line bets requires that you first understand the American odds system, which always uses a 3 or more digit whole number expressed as either positive or negative. The reason there are positive and negative money lines is that the two teams are often not equally matched.
A negative money line, for instance, represents how much a bettor must stake to win $100, with a line of -180 requiring a $180 bet in order to win $100. Therefore, if your bet is successful you keep the $180 you staked plus the extra $100 in winnings. Meanwhile, a positive money line is how much a $100 stake will pay. For example, if you stake $100 on a line of +160, if your bet wins you keep the $100 you staked plus an extra$160 in winnings.
Point spread betting is the most popular way to bet on the two most frequently wagered upon sports in the United States, namely football and basketball. The basic idea behind a point spread betting is to make the sports game closer to a 50/50 proposition by adding a handicap.
The opening round of the 2011/12 NFL playoffs, for instance, had Detroit Lions +10.5 / New Orleans Saints -10.5. How this works is that the favorite team always has a – value alongside it, and the underdogs a + value. In our example, New Orleans Saints are the favorites to win by 10.5 points in this game. Meanwhile, the underdog in this game are the Detroit Lions which have a +10.5 value, meaning online sports bettors profit if the Detroit Lions win the game outright or lose by 10.5 points or less.
All point spread wagers also have a price or commission, which otherwise not stated by the bookies or Las Vegas sports books is assumed to be -110. In other words, risk $110 to win $100, or if simplified, every dollar bet you bet, the sportsbook receives 10 cents. This extra price you’re charged is referred to as vig or juice and is how the betting sites and bookies make their profit.
When sports betting online, you’ll sometimes find point spreads that have half points involved (example -2.5 / +2.5), thus ensuring there is no way for a sports bettors wager to be tied.
Totals betting is the easiest sports bet to understand. Here you bet on whether the total number of points scored by both teams during a game will be over or under the posted betting total.
For example, this bet might be over/under 8.5 runs in baseball; over/under 5.5 scores in hockey; over/under 40.5 points in football; over/under 200 points in basketball, etc. Similar to point spread betting, unless otherwise stated these bets are assumed to be offered at -110 (risk $110 to win $100). Also similar to point spread betting, it’s also quite common in totals betting to see each option have a different price, such as over 5.5 -130 / under 5.5 +110.
This sports betting guide is meant to help you understand the basics of the sports betting industry. However, you can learn more in-depth information about sports betting by reading books such as Weighing the Odds in Sports Betting by King Yao, and Sharp Sports Betting by Stanford Wong.
Just know that sports betting is extremely competitive, and people often beat the odds by exploiting leaks presented by online betting sites and local bookies. Nevertheless, this is in an industry where it is hard to be profitable in the long-run,and not everyone is destined to make a living betting at high limit sportsbooks. In fact, the majority of sports bettors tend to be what we call recreational bettors.
On the plus side, there are tons of good bonus offers and promotions available with online betting sites that can make your sports betting hobby +EV. Just be sure to stay disciplined, though, and never risk any more than a couple percent of your bankroll on any given game.
The sports betting industry continues to grow across the United States, with an increasing number of states offering legal, regulated sports betting. This includes Pennsylvania, West Virginia, New Jersey, Delaware, Rhode Island, Mississippi and New Mexico. Meanwhile, more than a dozen more states have legislation pending, including New York and New Hampshire, while California also is taking strides towards setting up its own legal sports betting market.
If you’re not a resident or visiting one of the legal sports betting states, or are not comfortable using online gambling sites, you could always use either a Las Vegas sportsbook or alternatively a local sportsbook to take your sports betting action.
Nevada has legalized sports betting, with a few things to consider when choosing a Vegas sportsbook as follows:
If you’re looking for the most popular sportsbooks in Las Vegas, here’s a few to start with:
On arrival, simply approach the sportsbook and ask one of the attendants for help placing a bet. Once you’re ready, give the attendant the amount of money you want to wager, tell them what type of bet you would like to place, and on which team. They will subsequently give you a betting slip that has all the relevant information regarding your bet.
To find a local bookies, visit a sports bar, casino, racetracks or other gaming venue and find out if anyone is using a reputable bookie to place sports bets. Benefits of using a local bookie include building a personal relationship with someone and dealing in cash. Needless to say, it’s important to find a trustworthy bookie with a good reputation. Remember, the bookie’s reputation is both yours and their protection, because if they are not honorable then this gets exposed to their client base and soon they have no customers left.
This concludes our introduction to sports betting. Please let us know if you have any sports betting questions. And with that, we wish you the absolute best of luck.
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