Sports betting has come out of the shadows and into the open during the last four years. The long-standing taboo against gambling swiftly vanished from American popular culture, creating the conditions for the vast, multibillion-dollar legal sports betting market.
Millions of sports fans will be looking to enter the betting industry for the first time now that sports betting is legal in several areas.
Here are 12 things every new sports bettor needs to know as an introduction to the sport.
The Best Way to Bet
Almost all sportsbooks make it simple.
- Go to the game and wager type you want to place.
- On the “bet cell,” click
- The wager will appear on your betting slip.
- Enter your wager.
- Place a wager
To place a bet, you need to know what each wager means.
Let’s gear up!!!
Favorites vs. Underdogs:
Decide which team should be the favorite and which should be the underdog before oddsmakers post a betting line for a game.
The team with the lowest odds is the favorite since it has a higher chance of winning the game. Conversely, the underdog receives a plus sign because it is predicted to lose.
Spreads:
There are two ways to bet on a favorite or an underdog. The first is a bet on the winner’s margin, known as the point spread.
In Week 1, the Eagles are a -4.5 favorite over the Lions. As a result, anyone placing a wager on Philadelphia must expect the Eagles to win by at least five points. Conversely, any wagers on Detroit require the Lions to either win or suffer a loss of 1-4 points.
Those who gambled on the Eagles and won by 7 do so.
Lion’s bettor wins after Eagles win by three
Those who bet on the Lions win by three:
For team talent and various other considerations, point spreads are modified. Because of this, the Colts are an 8-point road favorite against the inferior Texans, and the Eagles are a smaller favorite versus the Lions.
Although spreads are available in all sports, they are particularly popular in high-scoring ones like football and basketball.
Moneylines:
The Moneyline is the second option to wager on a favorite or an underdog. A Moneyline bet employs American odds to determine the payout and only requires you to select the game’s winner.
In America, the odds are primarily based on earning $100.
Therefore, if you bet on a favorite that is a -200 underdog, you must risk $200 to win $100 or any percentage of that amount, such as $20 to win $10, $2 to win $1, etc.
If you wager on an underdog (+200), you will receive a return on your investment of two times your stake ($100 to win $200, $10 to win $20, $1 to win $2, etc.).
Revisiting the Colts-Texans, Indianapolis is considered to be a significantly stronger squad by oddsmakers. Consequently, you must take a big financial risk if you bet on the Colts simply to win the game.
The Colts are -375, which indicates that you must wager $375 to win $100 or $37.50 to win $10.
Texas is plus 300. You’ll win $300 if you wager $100. You may also win $15 if you wager $5.
Over/Unders:
The number of points scored by both sides in a game will also be determined by oddsmakers and lines for the favorite and underdog. The total or over/under for this is.
Then, bettors can place a wager on whether the total will be exceeded or not in the game. Again, you’re not attempting to estimate the exact result (though that bet is available, too).
The total for Eagles-Lions is 46, which is around normal for an NFL game.
You need 47+ points to win if you bet the over.
Forty-five points or fewer are required if you wager on the under.
Bets are reimbursed if it lands exactly on 46, which is considered a push.
What Does the Number -110 Next to My Bet Mean?
With many bets, you might see two numbers: a spread, such as -4.5, and odds, such as -110, underneath it.
The spread is the amount by which your side must win to cover.
To wager on that spread, you must pay the -110 odds.
Say you’re placing a wager at DraftKings on the Colts.
- Given the -8 line, Indianapolis must win by at least 9 points to cover your wager.
- The juice is 110 minus. To win $100 on that spread, you would have to wager $110 or $11 to win $10.
- If the Colts win by 14 and you bet $11 to win $10, you would win $10. You would lose $11 if the Colts won by three.
NFL betting lines are typically -110 on both sides.
However, the juice will change depending on the disparity in skill levels between the two teams for something like an MLB spread, where the line is nearly always -1.5 for the favorite and +1.5 for the underdog.
How much to bet?
You ultimately decide how much money you want to spend on a game, but a good rule is never to risk more than you can afford to lose. Gambling in sports is a marathon, not a sprint. There will be happy and unhappy days. Therefore, we advise using a flat-betting strategy.
This entails placing a fixed wager on each game and putting only 1% to 5% of your bankroll in danger with each play (the bankroll is the starting amount you have at your disposal to bet with). So, for instance, if your starting bankroll is $100, you shouldn’t wager more than $5 per game.
By using a flat-betting strategy, gamblers protect themselves from blowing their whole bankroll during a bad run while simultaneously positioning themselves for a profitable return on investment (ROI) during good runs.
Parlays:
A parlay is also a type of wager in which two or more wagers are combined into one wager with a higher reward, but all the wagers must succeed.
You can place a $10 wager that will pay out more if all three teams win instead of placing three $10 wagers on separate games. But you forfeit your $10 if even one loses.
Different payouts will result depending on the number and cost of the bets you include.
This MLB parlays with the Marlins and Marlins -134, Mariners +114, and Mets -220 pays +443.
The same game parlay, invented by FanDuel and now provided by almost every sportsbook, is even more popular than conventional parlays comprising multiple games.
With the correlation of each event priced in, you can parlay numerous bets from the same game using this tool. For example, because those two events are more likely to occur together, you won’t receive the full parlay payoff if you wager over 51 on the Rams-Bengals and Matthew Stafford to pass for over 2.5 touchdowns.
Same-game parlays are extremely common for stand-alone NBA and NFL games.
Props:
For most people, betting on spreads and totals is no longer sufficient.
Any wager that is not a typical point spread, Moneyline, or total is considered a prop bet.
However, when individuals discuss props, they frequently mean player props like:
Over or under Steph Curry’s 5.5 assists
Over or under 7.5 strikeouts for Max Scherzer
Derrick Henry is the first TD favourite at +500.
You frequently have to pay the associated cost with props, just like with point spreads.
In this instance, Scherzer had 7.5 strikeouts against the Reds. FanDuel’s lines indicate that he will most likely go under. Therefore, betting the under is more expensive than betting the over.
Shop for the best lines:
Because different sportsbooks serve different customers, lines might change depending on the sportsbook. For example, the Cavaliers can be given a score of -8 in one book but -7.5 in another.
Having access to multiple sportsbooks enables you to compare odds. For example, gaining a half-point more might not seem like much, but over time, it adds up and improves your chances of winning.
The best line for each game will be displayed automatically on our live odds website.
Conclusion:
You need to be certain that you are monitoring your progress because this is not Monopoly money. The simplest way to accomplish that is using our award-winning (and free!) app, which allows you to manage your wagers across almost every sport and includes fantastic features like live bet cover probability and odds shopping.
And that’s useful because you can see your advantages and disadvantages before betting. For example, do you have more luck placing bets on the NBA than the NFL? Do you do well with player props or over/under wagers? Knowing all of these is beneficial and can help you increase your profits.
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