1st Nov 2019

How to Gamble: Sports Betting

People have been betting on the outcome of sports events since the earliest organized sports, and these days, it’s a huge business. Sports betting naturally carries some of the risks of other forms of gambling, but many now see it as an acceptable activity, and several states have legalized sports betting since the federal ban was lifted in 2018. Some bet on sports as a hobby, while others take sportsbetting seriously and put in a significant amount of effort to make money. Sports betting in some states is regulated, and all bets are placed with licensed bookmakers. 

There are some risks with sports betting that are impossible to avoid. For starters, there’s really no such thing as a “safe bet.” Sports betters will lose, and many will lose often. Secondly, it’s possible to become addicted to sports betting, and losing bets can build negative emotions. Still, rewards like money, entertainment, and personal satisfaction make the risks worthwhile for many. The following are some basics you’ll need to understand to get started.

Reading odds

Understanding the odds for different bets is one of the most basic principles you’ll need to master to make sports bets successfully. Betting boards can be confusing, and you’ll likely want to stick with moneyline bets in the beginning. With these bets, you’re simply betting on who will win the game.

With all bets, you’ll see a plus or minus before the numbers on the board. In a moneyline bet, a minus sign indicates the favorite team to win, and a plus sign indicates the underdog. Betting on an underdog gives you a higher payout if you win the bet, whereas betting on the favorite results in a lower payout but gives more favorable odds for victory. In fights, moneyline bets are the primary option, and there are many team sports where moneyline betting is prioritized over other forms.

Things get more complicated in point spread bets where you’ll have to specify the amount of points a team will win by. If they score above your bet, you’ll still win the bet, but you’ll lose your wager otherwise.

Understanding payouts

Generally speaking, the boards are set up in such a way so you can understand the odds and payouts in increments of $100. Let’s say you’re betting on a basketball game between the Milwaukee Bucks and the Denver Nuggets. In this scenario, the moneyline reads as follows.

Milwaukee Bucks -120

Denver Nuggets +140

Here, the Bucks are favored to win, and it would require a bet of $120 to receive a $100 payout upon their victory. The Nuggets are the underdogs, and you would only need to bet $100 to receive a $140 payout on their victory. There’s no need to actually bet in increments of $100, though. Once you understand the format, you can insert whatever numbers you want and bet based on your budget.

Choosing where to bet

Finding a good place to bet shouldn’t be too challenging, but it’s worth doing some homework to make sure you find a sportsbook that matches your goals. You can start with a rating guide and find a high-rated site that caters to your area. One of the most important things to look for is a good reputation. If you can’t find any information about a site, or if they’re getting negative press, you’ll likely want to avoid them as they may have questionable service or may make it a hassle to retrieve funds. There are plenty of high rated sportsbooks with well-established reputations that you’re best off dealing with. It may seem obvious, but you’ll also want to ensure the books you're dealing with have convenient banking methods or if they offer multiple options.

If you want to start your gambling journey online but aren’t sure where to begin, sister sites might be your best option. By relying on a casino news site, you can have access to recommendations about the top casinos and gambling sites from users and industry leaders. Whether you prefer to gamble on sports or make gambling your very own sport, there are options out there, and you should consider them all.

Other things you should consider include how much commission you’re expected to pay on successful bets, the variety of sports and events you can bet on, and whether or not live betting is supported.