Different forms of gambling exist, and one of the most popular in the US is sports betting. The global gambling industry is filled with offline and online sportsbooks covering numerous sports, such as soccer, football, basketball, and hockey.
It may feel overwhelming for new players to understand sports betting terminologies like odds, markets, in-play wagering, and pre-game betting. However, this comprehensive guide provides essential information to help players understand these terms and get started.
One of the prestigious sporting events is The Master's Tournament. Every year in April, the best golfers compete at Augusta National Golf Course for a chance to put on the iconic green jacket. This event is one of the most bet-on sporting events there is, and we'll go over the best ways to bet on it, along with our picks for the event every year.
Although American football still runs the market in the U.S., soccer has continued to grow in popularity. A big reason for that growth is the improvement of the MLS. The league is now up to 29 teams, which span across the U.S. and Canada, and with the quality of play increasing, the need to bet on the league has been amplified.
Since boxing is one of the oldest and most traditional sports, it's no wonder that the sport still has a solid and passionate fan base. From the very beginning, boxing has been linked heavily to the betting scene. Especially in the online era, the sport has enjoyed quite a recognition among the bettors and sportsbooks worldwide.
While cricket may not be the most familiar sport for casual US bettors, it certainly isn't a small fry in the global gambling scene. The cricket betting market is currently valued at over $90 billion. And consequently, the sport is widely available for wagering on almost all top sportsbook apps.
In 2021, the total viewership of Formula 1 races was around 450 million. Because it is such a popular sport, it experiences a high volume of betting action. As a result, plenty of sportsbooks offer Formula One bets.
The National Association for Stock Car Auto Racing, known as NASCAR, has a massive following in North America. In terms of popularity, it is right there with superior motorsport competitions such as IndyCar Series and Formula One. If you want to learn about NASCAR betting, you have arrived in the right place.
Before staking real money, new players need to understand all the basics of online sports betting. First, they need to understand that different sports are available to bet on, such as soccer, football, basketball, and hockey.
While some bettors love betting on multiple sporting events, starting with a sport a player is familiar with would be good. Beginners can then narrow the sports to specific competitions and leagues. Once they've identified the sport, choosing the top sportsbook apps is the next step. The truth is that there are tens of sports betting sites in the US gambling market. However, it is possible to spot the best ones without going through several trial and error phases.
When selecting a sportsbook, first consider its licensing. Ensure the platform operates legally and has a license from an authorized regulatory body. After that, check the sports selection to see if those preferred are listed. Check how good the odds are, the betting markets, bonuses, and payment methods. A simple way of knowing what bonuses are available at what betting site is to check the promotions page. Good bonuses usually include competitive amounts and attainable wagering requirements.
Once new players set up their betting account, claim the welcome offer, and have everything in order, they can start placing their favorite bets. However, they need to understand the different bet types available, starting with regular bet types like Moneylines and totals under/over. For beginners, moneylines are the most straightforward bets since they only have to choose a team or individual to win the match.
The next section of this betting guide will explain different bet types.
In sports betting, players can place pre-game bets on events which refers to any bet placed on a sporting game yet to kickoff. Pre-game betting is probably the most common form of sports wagering, and every sportsbook offers it. One advantage is that the odds are usually high since the game is yet to be determined.
However, incidents like player injuries and weather conditions cannot be planned for, affecting the odds of winning. Bettors can place all kinds of pre-game wagers at the best sportsbooks worldwide, including moneylines, totals under/over, point spread bets, correct scores, and props.
They can even read online sports betting guides discussing the different pre-game bets available and possible predictions.
Consider this example to understand better how pre-game bet works in this guide. Suppose Heats will play the 76ers in the NBA on 30th, and a player placed a bet a day before. That bet is referred to as a pre-game bet since the game hasn't started yet. The amount the bettor stands to win will depend on the market's odds.
For instance, if the bet is $100 on totals over 155.5 points at a sportsbook offering it at -125 odds, the expected amount to win is $80, excluding the wager amount. The total potential payout will be $180 based on odds calculation.
Sporting events usually last for a certain period before the winner is determined. In-game wagering, also known as live betting, involves wagering money on sporting events already in play. Some players prefer placing this type of bet since they can decide what markets or predictions to go for depending on what is happening. Live betting can likewise be useful for those that intend to bet on a game but didn't have the time to do so before the game started.
Like pre-game betting, bettors can choose from numerous markets. These include Moneyline, point spread, totals under/over, and props. However, the availability of these markets will depend on the current result of the game and the bookie.
Let's look into how in-game betting works in the next section of this betting guide.
As explained in this guide, in-game betting is all about wagering on sporting events that have already kicked off. Ideally, almost every online sportsbook offers in-game bets. To place such bets, click on the Live section or similar button, which will display all the current in-play events. From the list, select the preferred event and choose a betting market.
The amount winnable depends on the event's odds. Suppose a player wagers $100 on Toronto to win Orlando City in an in-play MLS game with odds of +160. The expected potential winning is $160, excluding the wager. But note that odds in in-play events change quickly.
Even those who claim to be experts use strategies to improve their chances when betting on sports. A sports betting strategy is a structured approach to wagering on sports. Instead of wagering money on sporting events in a haphazard style or based on emotions, following a plan helps players become disciplined. New players should pick a strategy and stick with it.
Betting strategies work over a duration, and they can understand one when they focus on it instead of mumbling everything together. In the long run, they can become successful sports bettors with the help of strategies.
It is important to note that no approach offers a 100% winning rate, and most strategies only work where there is an infinite stream of money to bet with. Since it's almost impossible to have an endless stream of money to gamble, this guide will give some bankroll management tips later on.
There is also a massive difference between betting for fun and profit. When betting for fun, the goal is not to profit. Players betting as a recreational only want to enjoy the thrill of gambling, and some sportsbook platforms allow punters to predict games for free.
On the other hand, betting for money means that bettors wager their hard-earned money and want to win money back, which is why most bettors wager on sports. But it is crucial to understand the challenges of profiting from sports betting. These challenges include money management, unrealistic expectations, and betting without research or analysis.
To tackle such challenges, bettors must put a lot of thought into each wager by identifying value bets. This includes assessing the probability of each outcome. Furthermore, understanding the fundamentals of making profits in sports betting puts punters at an advantage. They can quickly identify favorable odds to make accurate predictions.
Strategies are part of what pro players use when betting on sports. Online sportsbooks are known to offer bonuses to new players, and in most cases, these bonuses include free bets. For instance, an operator may offer a $20 bonus for a bet of $5 to players when they sign up.
The idea behind matched betting is to take advantage of this offer on multiple sportsbooks. So when it comes to betting their money and the bonus, they match it by placing opposing bets on two sportsbooks. The goal is that while some bets will lose, the opposite won't. At the end of the day, the player beats the bookies and always wins.
A matched benefit includes risk-free bets, all completely legal, with plenty of advice and free access to a dedicated matched betting calculator. Drawbacks for such bets are usually associated with misunderstanding the offers, thus losing money.
The next section of this guide will show some examples of matched betting to help readers better understand how it works.
Assuming bettors sign up on two sportsbooks, each offering a $20 bonus for a bet of $5, punters can use the matched betting principle to improve their chances of winning. In this situation, their own money to wager will be $10 ($5 x 2), and they will get a free bet of $40 ($20 x 2).
Now to where the strategy comes to play. Say they choose to bet on Celtic vs. Bucks in an NBA game. They can bet on Celtic to win at sportsbook A and bet the reverse, Bucks to win, at sportsbook B. While they might not win anything from their actual deposited money, they can use the same tactics for the free bets to get a profit.
Let's take a look at other valuable betting tips in this guide.
If you are looking to become a successful sports bettor, one of the most vital aspects of this success is managing the funds used for wagering. Bankroll management involves carefully planning the amount of money one has to bet.
Gamblers should let their bankroll dictate the stakes, which is vital because it helps avoid becoming greedy and increasing wagers beyond the budget. Without proper bankroll management, one can quickly lose money in a bid to recoup losses. Nearly every bettor with bad bankroll management will burst out at some point, and the odds of making money become low in the long run.
Players should always ensure they don't bet all their money in one go. Instead, they should split their bankroll to cover a range of bets. On a losing streak, learn to take a break and stick to a strategy. Similarly, players can set limits on winning streaks to protect their bankroll since there is a likely chance of losing in the long run.
If new players can follow the tips stated in this guide, they will surely enjoy a better gambling experience and stand a chance of winning.
While betting on sports is fun, it can get frustrating, especially on a losing streak. And this can cause bettors to tilt. In gambling, tilt refers to a state of frustration and mental or emotional confusion that leads players to start adopting a less efficient strategy to recoup losses.
Responsible gambler exercises control and makes informed choices to ensure that bets are within the bankroll limits and avoid harm from betting. Most times, players can get aggressive when they start tilting, which puts them at a disadvantage. A gambler must keep a level head to be a successful bettor.
Avoid intoxication when betting on sports, which can lead to poor decision-making. Maintaining a calm head can help bettors identify what they are doing wrong, regroup, and develop a better strategy. Now let's talk about shopping betting lines in the next section of this guide.
Going for the best odds is essential in sports betting, and for obvious reasons. The odds of an outcome play a massive role in a bettor's potential payout. For instance, if a player places a $100 bet on a particular game at a sportsbook with odds of -125, the potential payout to expect is $180.
However, if the player places the same bet at another sportsbook offering the odds at +100, the total potential payout is $200. So the higher the odds, the better the possible win.
One should consider shopping betting lines and using various sportsbooks to enjoy the best odds. Line shopping refers to finding the best value odds for a bet. And the good thing is that it is perfectly legal to have an account with multiple online sports wagering platforms, so long they are licensed by the appropriate regulatory body. So before placing a bet, check the odds offered by all the bookmakers and settle for the best offer.
The following subheading of this guide will discuss the importance of betting bonuses.
It is common for online sportsbooks to offer bettors different betting bonuses. New players can take advantage of these bonuses and win real money, as explained with matched betting. Since there is no rule against players joining multiple sports wagering platforms, they can claim different betting offers and promotions on numerous online sportsbooks.
With betting bonuses and a good guide, they will have a boosted bankroll to employ strategies to win more. Furthermore, if punters are betting for fun, using rewards allows them to enjoy more games for free. Likewise, this can also benefit those who bet for profits, giving them the chance to earn more.
However, note that these bonuses often have terms and conditions, including rollover requirements to fulfill. Nevertheless, it is possible to find wager-free sportsbook bonuses to play with fewer risks.
Beginners in sports betting should bet only on sports that they know and follow. This makes things much easier as they are familiar with how the sport is played, factors influencing teams' performances, etc. Besides, betting on sports they know also means they will be well aware of the teams involved, their strengths, and possible outcomes.
Furthermore, new players should bet on familiar markets. If betting on moneylines is a particular player's strength, it won't make sense to jump into props betting without understanding how it works or going through a guide.
Bettors should stay up-to-date with the sports, teams, and events they are betting on. Check the team news, injury reports, and every aspect that can influence the outcomes.
Several essential topics on becoming a successful bettor as a newbie have been discussed throughout this guide. However, true success in sports betting means continuous learning, and bettors need to continue finding ways to improve themselves and take in as much useful information about sports betting.
All the information bettors need are available on different channels, and they can watch games, read news, follow team reports, or go through sports betting guides online.
According to the information in this guide, no betting strategy offers a 100% success rate. Most strategies will win at the end of the day if there is an endless stream of money to bet.
Some experienced bettors record as much as an 80% success rate. By following the tips provided in this guide, players may be lucky enough to make some pretty decent wins betting on sports although it is not guaranteed.
As discussed in this guide, it all comes down to what each player is comfortable with. However, new players should start by wagering on a sport they understand and go for simple bet types like Moneylines.