How to Bet on Sports

Beginners Guide on How to Bet on Sports

Sports betting refers to wagering money on sports such as football, basketball, baseball, or other sporting events with two or more teams competing against each other.

Ultimate Sports Betting Tips That Every Beginner Should Master

For those die-hard fans that want to get into the sports betting without any experience, these tips will help you get started.

Understand Moneylines

One way to bet on sports is to use the moneylines, also called American odds. When betting with moneylines, you are betting on a team without a point spread involved. The proposition is all about the win or loss. Here is an example of how it works.

Team A vs. Team B Game: Team A at +120

Just like in the stock market, odds are quoted against you. So in this example, you will win $120 for every $100 you bet. If you want to go the other way, these odds would be -150. In this case, you would have to bet $150 and hope your team wins.

If a line is at +100, this means that the team's odds are even money to win. On the other hand, if it is at -120, then it means that the team has a 20% chance of winning or losing.

Favorites vs. underdogs

Favorites are the more heavily bet option. This means that the payout is higher, and it also means that your odds are better. Here is an example of how this works.

Team A at +140

A favorite is a team that will win the game by a difference of 28 points or more. In other words, if Team A scores 34-22, you will win $140 for every $100 you bet.

Now, you might wonder which team to bet on with a favorite. Well, the simple answer is your team's opponent. A favorite will always be in favor of your opponent. If Team A is playing against Team B, you will always make more money betting against them than on them.

Over/Under

Another way to gamble is over/under, just like moneylines. But instead of betting on a team, win or lose, you are betting on points. In this case, the proposition is about the number of points scored by your team. For instance, team A has 50 points for an NFL game. If you wager over, you need 51 points. If you bet under, you need 49 points.

Point Spreads

Point spreads is also another great way of betting on sports. With point spreads, the game hinges on the event of the number of points that each team will score. If a team blows by its opponent and wins, you win.

But if you bet on the point spread, then this tells you how many points your team will win by. So for every $100 in your bankroll, you will win $10 for every point it wins over/exceeds what was written in the line.

Understand How to Place a Bet

It is crucial to know how you place a bet. You need to know how to choose your lines, use the betting calculator, and the overall procedure. Thankfully, many sportsbooks make it straightforward. All you need is to browse your favorite game, click the bet cell, enter the amount, and submit.

Shop for Lines

Different bookies offer different lines. Some offer low, while others are high. So, do your research and choose the one with the best lines. This will increase the odds of winning.

Know Parlays

The parlay is a bet on multiple sports events on the same ticket. It is like making one bet, but since you combine various teams into the same final total score that you will win, it is like betting all of them at once. Sometimes the payoff is astronomical compared to what you bet, depending on how many teams are in your lineup.

Where to Place a Bet?

It is up to you where you would like to place a bet. If you want a safe and secure place, you can use online bookies such as BetMGM, Caesars, and PointsBet because they are government regulated and offer good payouts.

Props

A prop bet is a non-runner and non-canceller type of wager made on a specific outcome in an event. These are based on the player's performance such as scoring points, hitting a three-pointer, or even getting scored upon.

How Much To Bet?

The last thing you will need to know is how much to bet. It all depends on what your bankroll can handle. You don't want to be over/under betting and losing your entire bankroll. Here is a general rule of thumb: start with a minimum stake for the first day or week. After that, you can begin betting again with more money.

How do Online Sports Betting Odds Work in the US?

If you intend to start betting, you must understand the odds. There are three types of betting odds - Moneyline odds, decimal odds, and fractional odds. Moneyline odds rely on the positive or the negative sign. Therefore, these odds either indicate the amount a player needs to wager to win $100 or the amount they would win after staking $100. Decimal odds, on the other hand, represent the amount the player wins for every $1 they wagered. Fractional odds represent the ratio of the profit the player wins to the stake.

How to Read American Sports Betting Odds?

Fractional odds are displayed as fractions. To know how much profit you will make, you can multiply the bet amount by the fraction. For instance, if you bet $10 with 7 – 4 odds, you will get a $17.5 profit plus your initial $10 back. Decimal odds are portrayed as one number, and this is the amount a winning bet would collect on a bet of $1. Any number between 1 and 2 is a favorite bet, and 2 represents an even money bet. For moneyline odds, if the odds are +200, the book is giving you the odds that the bet will come in a third of the time.

How Do Point Spread Betting Odds Work?

Point spreads necessitate a winning margin. This means if you bet on a favorite, they must win by more than the allocated spread. For instance, if a spread is (-6.5) points, your team must win by seven or more. On the other hand, if you bet on an underdog, your team can win entirely or lose by fewer than the allocated spread. For example, if a spread is (+7.7) points, your team can win, lose by seven or fewer, or win entirely.

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How to Read Moneyline Sports Betting Odds?

A moneyline bet is defined as a basic wager in sports betting as it is a bet on which team will win a game. For instance, if the odds are -350, a bettor must bet $350 to win $100. If a major team A plays against an amateur team B, a bettor on team B will make $245 in profit if they bet $100. If a bettor put $100 on team A, they would win a profit of $28.57. In moneyline bets, instead of picking two teams, the possibility of a draw is included.

What Are Point Spread Betting Odds and How to Read Them?

When you gamble on a point spread, you wager on how many points a team will win or lose by. Point spreads are mainly popular when betting on football or basketball. For instance, if a strong NFL team is playing against a sub-standard team, the second team will be listed as the underdog. This is indicated with a “+” sign and the amount the bettor assumes they might lose. The NFL team would be recorded with a “-” sign and the number of points the bettor hopes they might win by.

How to Read Over/Under Sports Betting Odds?

Over/under odds are known as the total number of bets on a game between two teams. This total mainly focuses on how much or how little scoring happened between the two teams. When looking at listed odds for a game, there will be a number listed, for instance, 47 for an NFL game. This number is the line for over/under bets, known as the total. A bet on the over means you assume both teams will merge to score more goals. Conversely, an under bet means the player assumes there will be less than the total listed.

American Sports Betting Odds Examples

American odds are a bit confusing because they aren’t straightforward like decimal and fractional odds. American odds are based around $100. However, how they relate to that amount depends on whether the bet is favored or not. When the bets are favored, the odds will start with a negative number like -110, and they will indicate how much you need to bet to win $100. If the odds are -110, the player would need to bet $110 to win $100.

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Some Common Frequently Ask Questions on How to Bet on Sports

How Do Plus Minus Betting Odds Work?

Odds are usually expressed in terms of money, with $100 being the standard. If the odds are minus, then that amount of money must be wagered so as to win $100. For instance, -200 means you must bet $200 to win $100. If the odds are plus, the amount of money will be won on a successful $100 wager. For instance, +200 will make you $200 on a $100 wager. The standard number is usually -110, meaning a bet of $110 would net a profit of $100.

Why Would You Bet On Negative Odds?

Gambling on a team with negative odds is safer because these odds signify the favorite on the betting line. However, you will have to spend more, and the returns translate to a lesser profit. The negative number usually indicates how much you should bet to win $100.

How to Calculate Betting Odds?

Sports betting odds are calculated with the goal of receiving money on both sides of a bet. For instance, if team A is a -10 favorite against team B and is getting 90% of the money, the book would adjust their line, so they don’t finish in the negative if team A cover that spread. The book will continue to increase the line until the other side starts receiving the action.

How Are Sports Odds Payout Calculated?

If you make a bet of $10 at 3.5 odds, your total return for winning that wager would be $35. The profit is $25, with the other $10 being the return of the stake. If you are using fractional odds, you can receive the total payout from your bet because fractional odds calculate the winnings only. For instance, if you bet $20 at 9/2 odds, you will make $90.

What Are Decimal and Fractional Odds?

Determining your payout is straightforward when using decimal odds. You multiply your wager by the odds of the team you are betting on. To calculate how much you will win, subtract the original wager from the payout. The fractional odds are weird-looking odds that look like 9/5 or 2/3. The number on the left (2) indicates how many times the book expects the relevant outcome to fail. The number on the right (3) indicates how many times the outcome is expected to win.

How do you bet on sports online?

Easy-peasy. Open an account with a reputable bookmaker and deposit some funds. Choose games to bet on and determine your amount to place a bet.

Which sport is best to bet on?

It depends on which sport you understand well and predict correctly. It can be football, racing or racing. All of them are profitable if you make correct predictions.

Can I gamble safely?

Yes, as long as you choose a reliable and licensed sportsbook. Read reviews online for safety.

Can I earn money in sports betting?

Yes. You can make money from betting on sports. But also, you should plan your bankroll carefully and make correct predictions.

What are betting odds?

Betting odds are a way to provide insight into the probability of an event happening. This is done by giving numerical values to possibilities in terms of likelihoods, percentages, or fractions.