SPORTS BETTING FOR BEGINNERS
Please don’t place any bet without reading till the end.
Sports betting is the act of placing a wager on the outcome of a sports game. Sports betting is increasingly gaining popularity across the entire globe. This is partly because of the availability of the internet which makes sports betting convenient since bettors can bet in the comfort of their homes.
BENEFITS OF SPORT BETTING
The growth of the betting industry has seen several betting sites such as Betway sports rise giving users various sites to bet on. The most popular sports betting is football, basketball, boxing, and hockey. The following are some of the benefits of sports betting.
1. Entertainment value
The reason many people get involved in sports betting is because of the entertainment value it offers. Watching a live game is fun, it even gets interesting if there is some money involved. Watching your team play can be really interesting, but the problem is that your team may not play daily or weekly, and this is where sports betting comes in.
When you place a wager in a team even if it is not your team, you will support that team throughout the game. There will be some excitement. Just remember that when betting, don’t let your emotions determine how you bet.
2. A Chance to make money
One of the best things about sports betting is that you get the chance to make some money. It doesn’t matter how much money you bet with, what matters is that at the end of the day, you can win some bets and get some money.
Winning a few bets doesn’t mean that you stop at that, you can train yourself to become a professional bettor. Becoming a professional doesn’t happen overnight, it takes some time; you just have to be patient, consistent, and don’t let your emotions come in the way while betting.
Becoming a professional bettor is also a big challenge. And that’s why you are advised not to quit your job immediately to start betting on every game. You should only wager what you are willing to lose. If things go well, then you can start thinking of quitting your job to take the hobby a notch high. For many people, sports betting will always be just a form of entertainment; only the lucky ones can make a consistent living out of it.
3. Cheap Fun
When it comes to paying for entertainment, sports betting is way cheaper than bowling or other activities. You get more money especially on those days that you win your bet. The fun in sports betting becomes even more when you make a correct pick.
The fun doesn’t just end in making a correct pick, but it also entails researching on the teams and watching the live game. When you think about it, sports betting is the cheapest hobby that delivers plenty of entertainment value.
There are a lot of favorite hobbies that are great, but you can’t play them every day, maybe because they are too expensive or they are too tiring, and so you cannot play them every day. But with sports betting, it is an affordable hobby that you can play or watch and enjoy every day.
You can also enjoy sports betting anywhere or anytime for example, from the comfort of your home. This is because you can bet online or at a land-based casino and still enjoy the excitement that the game offers.
Other games like bowling require you to be at the bowling alley, and they may also be operating at certain hours. All of these can inconvenience you. But with sports betting, especially if you choose to bet online, you can do so in your home in a pair of pajamas or any other clothing of your choice; this makes convenience to get better.
5. Easy to get started
Some hobbies require so much regarding the equipment to be used, rules that you have to follow, and time for you to participate in them. This can be challenging especially if you don’t have the time and resources to commit to it.
But with sports betting, it’s easy to get started with because it doesn’t require any equipment or financial commitment for you to get started. With just $5 you can start betting on a game. Then another good thing with sports betting is that you can bet with the same amount over and over again even if it is $5 because you are not required to bet more than the amount you want to bet with.
And because of the plenty of sports betting sites, you can start betting any time you feel like. You’re no longer required to search for a casino to bet, you can start betting wherever you are whenever you want.
TIPS FOR BEGINNERS
Betting on sports comes with a steep learning curve. The sheer size of the gambling market, which includes professional and amateur leagues from all over the world, is intimidating to most bettors. Combine that with a wide variety of ways to wager on different sports and it’s easy to see why many beginning sports betting customers make mistakes. These are the top ten sports betting tips for novice gamblers. Apply these ten tips and you’ll be better prepared to start gambling on sporting events.
1. Bet What You Know
Not all bettors are sports fans; some sportsbook customers are gamblers first and fans second. But if you’re like most first-time bettors, you probably bring a little bit of knowledge with you. Each of us has our library of sports knowledge and our preferences in terms of what sports we watch. The first tip for beginners is to start gambling on sports you know something about it. If you’ve followed a particular baseball team for years, begin your career as a gambler with wagers on Major League Baseball. If you stay in-the-know about high school football prospects and, start with bets on NAACP gridiron games. You may learn more about other sports in the future, but in the beginning, stick to games that you already have an understanding of.
2. Consider the Timing of Your Wagers
Odds fluctuate over time. News about player injuries, breakthrough performances, and even the action of other gamblers all influence the odds offered by a sportsbook. Deciding when to bet can be just as important as deciding how to bet. In most sports, prices are fluid; a heavy favorite’s odds may shorten the closer you get to the opening play, while a wager on an underdog can cost less if you bet far in advance than if you wait until game day.
3. Open Accounts with More than One Bookmaker
Online sportsbooks have different specialties – one book may focus heavily on European soccer leagues while another specializes in the NFL. Opening accounts with multiple books give you more options in terms of odds and the number of games available for betting, and the widespread use of book-to-book funds transfers makes it easy to shift your bankroll between books if you need to.
4. Ignore Your Heart
We started by telling newcomers to the world of sports gambling to stick to what they know. But there’s a difference between placing wagers on sports you’re familiar with and betting with your heart. Just because you attended a certain university or have followed an NBA team your entire life doesn’t mean wagers on those teams are the best move. It’s one thing to be a sports fan, another to be a sports gambler. Avoid wagering based on your allegiance to a particular sports club.
5. Understand the Impact of Downtime
Every team faces downtime, no matter the sport. Downtime affects different sporting leagues in different ways. For example, in the NFL and college football, a bye week gives a team time to rest and plan for an upcoming opponent. On the other hand, baseball clubs that finish a playoff series early and have to wait for their opponent’s series to finish are often out of shape or out of practice. You need to understand how downtime affects the teams you wager on, and consider how much time has passed between your team’s last game and the contest you’re betting on.
6. Hit the Books
Investing in a few books about the world of sports wagering will make you a more informed customer and can steer you towards strategies and concepts that increase your chances of winning. Plenty of good books on the world of sports gambling exist; look for titles written by experts in the field or authors with an understanding of mathematics, such as Sharp Sports Betting by Stanford Wong. Avoid the slush pile of eBooks that promise “can’t miss” picks or books written by people with no obvious experience in the field.
7. Establish – and Follow – a Budget
Determine how much money you can afford to lose and wager within that range. Various bankroll strategies exist to help people manage their gambling money – some will tell you to wager no more than 5% of your entire gambling budget on a single game, others may raise that number to 10%. Find a bankroll management system and stick to it, otherwise, you run the risk of betting too much per game.
8. Utilize Customer Service
Any legitimate online bookmaker has a staff of people trained in customer service. Utilize customer service advice to get answers to any basic questions that you have. Don’t be afraid to ask what may seem like a dumb question. For newcomers to the world of sports gambling, selecting an online sportsbook with an easy-to-contact customer service staff is of the utmost importance. Look for live chat options and toll-free phone numbers staffed twenty-four hours a day.
9. Start with Simple Bets
Between props, parlays, teasers, and The Grand Salami, sports gambling can get complex. As a newcomer to the world of wagering on sporting events, you should stick to the basics. That means placing wagers on the outcome of games you’re familiar with, and starting with just a couple of bets to get your feet wet.
10. Participate in Sports Betting Forums & Message Boards
Locating a community of like-minded bettors is important, especially when you’re just beginning to gamble on sports. Forums and message boards where sports bettors get together to discuss their hobby are easy to find. As you look for a forum to call home, make sure the board is active and caters to your favorite sports and wagering types. As far as topics for discussion go, look for advice given by veteran bettors, an active back-and-forth between members, and in-depth discussion of odds and the pros and cons of different online books. Talking to your bookmaker’s customer service department will help a little, but your new message board friends will be there to fill in the blanks, and for the most part veteran gamblers are happy to share advice with newcomers.
Give yourself time to get used to the way bookmakers lay odds, the actual interface used to place your bets and to understand the ebb and flow of sports betting profits. The ten tips above should help even the least-experienced gambler start his betting career at an advantage.
SPORTS BETTING GLOSSARY
To help understand the gambling lingo and betting slang, we’ve defined the most common gambling phrases used in sports betting.
The act of placing a bet or having an active wager on a sporting event. (e.g. “I have action on this game.” Or “Do you want to get in on this sweet action?”)
An international phrase for what is more commonly known as “money line” in America. Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. (e.g. –150 means you must bet $150 to win $100.) If the odds are plus (+), that amount of money would be earned on a successful $100 wager. (e.g. +150 means you make $150 on a $100 wager.)
Acronym meaning “Against the Spread.” Betting on the outcome of a sporting event as it relates to the point spread, as opposed to betting “straight up.”
Winning despite seemingly insurmountable odds against the bet, often with a late score in a sporting event whose outcome had already been decided. (e.g. “I won my bet on a backdoor cover because Stephen Curry hit a 3-pointer at the buzzer, even though the game was already out of reach.”)
Losing despite seemingly insurmountable odds in your favor, often with a late score in a sporting event whose outcome had already been decided. (e.g. “I lost my bet on a bad beat because Stephen Curry hit a 3-pointer at the buzzer, even though the game was already out of reach.”)
To gamble or wager on the outcome of a sporting event, most often within the parameters of agreed-upon odds.
The entity or establishment accepting wagers on sporting events. Also known as the “sportsbook” in a casino setting.
A $100 bet. Also known as a “dollar” bet.
To take a less favored return on investment to increase the odds of winning, usually by improving the point-spread advantage or money line.
The odds-on favorite to win a sporting event. (e.g. “John’s NCAA Tournament bracket is all chalk; he has all No. 1 seeds making it to the Final Four.”)
The final odds on a sporting event before pregame bets stop being accepted. As a general rule, the line will move up or down, depending on which side is receiving the most money wagered or an unforeseen change in the matchup (injury, suspension, etc.). The closing line often differs from the opening line, as a result.
To correctly pick the winning side of a point-spread bet. (e.g. “Alabama was favored by 10 points and won by 11, I covered.”)
A $1,000 bet.
Popular slang for “underdog” or the side not expected to win against the “favorite.”
A 50-50 wager, where neither side lays odds or has a perceived advantage.
Wagering on the first three finishers of a race predicted in the correct order.
Any bet that isn’t a straight bet. A term most often used in horse racing, regarding exactas, trifectas, and superfecta bets. In team sports, often referred to as a “proposition,” “prop” or “special” bet.
The side expected to win a sporting event, with odds reflecting perceived confidence in favored team/person.
A wager on the first half of a sporting event only, and not the outcome.
Wagering on a long-term winner, usually on the champion of a sports league (i.e. NFL’s Super Bowl winner, MLB’s World Series winner, etc.)
To bet or wager on the outcome of a sporting event, most often within the parameters of agreed-upon odds.
The entity, person, or establishment that decides the given odds or betting line of a sporting event.
A half-point on a betting spread. (i.e. “10 and a hook” is 10.5 points.)
The sportsbook taking the bet or wager.
Laying the Points
Betting on the favorite but sacrificing points on the spread or money line.
The maximum wager allowed by a sportsbook or establishment.
Betting line or odds used to determine the gambling margin between the favorite and underdog.
Live to bet
Wagering on a sporting event already in progress, with fluctuating odds in real-time.
The term for a “sure thing” or “can’t miss” bet. (e.g. “The Golden State Warriors are a lock to win the NBA title.”)
An unlikely winner with improbable odds that will pay off big.
Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. (e.g. –150 means you must bet $150 to win $100.) If the odds are plus (+), that amount of money would be earned on a successful $100 wager. (e.g. +150 means you make $150 on a $100 wager.) The money line is also sometimes referred to as “American Odds.”
The spread or odds or betting line. (e.g. “What’s the number on the USC-Notre Dame game?”)
Off the Board
A sporting event on which bets are no longer being accepted, usually due to controversy, injury, or other unusual circumstances.
The initial odds on a sporting event. As a general rule, the line will move up or down, depending on which side is receiving the most money wagered or an unforeseen change in the matchup (injury, suspension, etc.). The closing line often differs from the opening line, as a result.
The betting line on the total number of points or goals scored in a sporting event, with an action taken on whether there will be more (the over) or fewer (the under) points or goals scored.
A series of bets in which the original stake plus winnings are wagered on successive bets. In most cases, all bets must win to payout. To make it easy, try a parlay calculator.
An even-money bet in which there are no odds, only the “pick” of the winning side.
Commonly referred to as just the “spread.” Betting line or odds used to determine favorite and underdog.
A proposition or exotic bet, sometimes only tangentially related to the sporting event. (e.g. Popular Super Bowl prop bets include winner of the coin toss, over/under on time of national anthem singing, the color of liquid dumped on winning coach, etc.)
When the final score or number falls exactly on the betting line, spread or over/under. In which case, the house usually wins. (e.g. Alabama is favored by 10 and wins by exactly 10 points.)
To take a more favored return on investment by decreasing the odds of winning, usually by lowering the point-spread advantage or money line.
A professional bettor, often mistakenly called “shark.”
Betting line or odds used to determine the gambling margin between the favorite and underdog.
The money or collateral wagered on the outcome of a sporting event.
Acronym meaning “Straight Up.” Betting on either a winner or loser, without point spread taken into consideration.
Wagering on the first four finishers of a race predicted in the correct order.
Taking the Points
Betting on the underdog and accepting points on the spread or money line, which can result in a gambling win despite a technical on-field loss. (e.g. “Louisville lost to Kentucky by 2, but I ‘took the points’ on a 3-point spread and won big.”)
Multiple wagers in which the bettor can manipulate the odds or point spreads by combining the games. All bets must be winners to payout.
The receipt of a confirmed wager, either in physical “ticket” form or online confirmation.
Wagering on the first three finishers of a race predicted in the correct order.
The side expected to lose a sporting event, with odds reflecting perceived lack of confidence in team/person.
To bet or gamble on the outcome of a sporting event, most often within the parameters of agreed-upon odds.
A bettor with advantageous insider information.
HOW TO PLACE SPORT BET
1. Bet on point spreads.
Point spreads help to balance out the odds of each team winning. When people bet on point spreads, they usually talk about (+3.5), (-7.5), (+4), etc. This is how many points are added or subtracted from a team’s final score. Take, for example, the Chicago Bears (+5), and the Green Bay Packers (-5) are playing each other this Sunday. The Bears are less likely to win, so 5 points are added to their final score.
In this example, the Packers will have to beat the Bears by at least 6 points for people who bet on them to win. If the Packers beat the Bears by 5 points or less, people who bet on the Packers to cover the spread will lose money.
The basic premise is that you need your betting team to either cover the spread or underperform. In the same example, if you think the Packers will win but won’t cover the spread, put money down on them to do so. If the Packers win by less than 5 points, you will win money.
If teams wind up meeting the spread (not under or over) then you neither win nor lose money. In the same example, if the Packers beat the Bears by exactly 5 points, no one wins or loses. When point spreads are (+7.5), (-4.5), (-8.5), (+1.5), etc. they are much more dangerous bets. This is because teams don’t score half points, so you will either win or lose.
2. Place a bet on the money spread.
This is a very simple method. You are betting on who will win the game outright. If you think the Chicago Cubs will beat the Pittsburgh Pirates, you will bet on them, and vice versa. The key here is to look at the point spread of the game. If the Chicago Cubs are given a large point spread (-5) then they are seen as more likely to win. If the spreads are pretty even (-0.5)(+0.5) then the game is largely seen as a 50/50 matchup.
Look at the point spread first before you move onto the money spread. If the point spread seems way too high (-8.5) it is best to place your money down on the point spread.
If the point spreads are fairly even (-1)(+1) then move on to the money spread. You will be much more likely to win covering a tight money spread.
If there is inclement weather, that also is a heavy factor in money spreads. Snow, rain, sleet, fog, etc. can rapidly even the playing field between the two teams, and therefore even up the point spread. The worse the weather, the more random the outcome, and therefore the more money you should put down on the money spread.
3. Put your money down on the totals.
Totals are commonly referred to as the over/under. This is where the betting organization will give you a number (9), (4), (10), (175), etc. The number they give you represents the total number of points scored by both teams combined. You have to place a bet as to whether or not the teams combined will score below or above that number.
Take for example the Los Angeles Lakers playing against the Oklahoma City Thunder. The total over/under will be 215. You have to bet whether the Lakers and Thunder will score combined over or under 215 points.
Factor in different circumstances. If superstars are hurt on both teams, and the over/under seems pretty high, you might place your bets on “under.” If superstars are playing lights-out of late, and the over/under seems too low, you might place your bets on “over.”
4. Take decimal odds into account.
Besides every point spread, money spread, and total (over/under) is a number in decimal form. Decimal odds are always written as positive numbers, never negative. For example, next to the New England Patriots point spread (-8.5) is a decimal figure of 2.798. Then imagine that you bet 0.1 bitcoins (BTC) on the Patriots point spread that week on an online website. Multiply the bitcoins you bet by the decimal figure, and that is how many bitcoins you will win if you bet correctly.
- So for this example, 0.1 X 2.798 is 0.2798. This would most likely be rounded up to 0.28 bitcoins on most websites. You will earn 0.28 bitcoins if you bet correctly.
- It is important to remember that decimal odds include your initial stake. So, for this example, you will not get 0.28 plus your initial stake. The stake is already included in the 0.28 bitcoin winnings.
Bitcoins are a form of specialized online currency.
5. Use American odds.
Next to every decimal odds number is either a positive or negative number in parentheses. If the number is positive, this is how much money you will make on a standard 100 bitcoin stake win. For example, American odds are (+170) for the money spread on the Miami Marlins this week. This means that for every 100 bitcoin stake, you will receive 170 bitcoins back. If you put up 0.1 bitcoins as your stake, you will get 0.17 bitcoins back.
The great thing about American odds is that you get your initial stake back. So if you bet 1 bitcoin, and receive 2 bitcoins as your winnings, you will get 3 bitcoins back in total.
If the American odds number is negative, this is how many bitcoins you have to produce as your initial stake to get 100 bitcoins back. So if the odds are (-105) you will have to produce at least 105 bitcoins as your initial stake to get 100 bitcoins back.
- Bitcoins are a form of online currency.
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