Did you know that an estimated 106 million people in the United States of America have some level of interest in sports gambling? Sports betting is a great way to make some additional pocket cash while following your favorite sports, teams, and athletes. If you think that you’re familiar with the league and the teams in it then sports betting for beginners might be a good fit for you.
Large areas of the United States allow sports betting with zero legal ramifications, making it easier than ever to participate in this form of gambling. If you want to get the best returns on your betting investments then it’s important that you learn from a sports betting guide.
The good news is that you’ve found the perfect sports gambling guide to help you start your sports betting career. Keep reading to learn more today!
How Do Sports Betting Odds Work?
Any time that you get ready to place bets on a sports team or a sporting event it’s a good idea to understand how betting odds work. The bookmaker will determine which team is the favorite and which team is the underdog based on previous records and injuries to key players.
The team that has a minus sign next to it is the designated favorite. You’ll need to risk more money betting on that team in order to make a profit. The underdog, on the other hand, has a plus sign next to it which designates that they’re expected to lose the matchup.
How Are Betting Odds Determined?
Most of the odds are created and released by oddsmakers that are based out of Las Vegas. Many bookies will have similar odds, though taking the time to shop around will help you find other lines that might give you a better chance to win some money. Keep in mind that the lines can change based on which teams the public is betting the most money on.
If you plan on getting into sports betting then it’s best to track the movement of the betting line. Your bet on the underdog could quickly turn into a bet on the favorite if the public piles money into betting on the same team that you did. Factors like the weather and injuries to star players could result in the odds changing during the buildup of the game.
How Do the Betting Odds Impact Money?
The betting odds determine how much you’ll win based on making a $100 bet. If the favorite is designated with odds of -300 from the bookmaker then you’ll need to risk betting $300 in order to make a $100 profit from the game. You’d get all of the money that you’ve bet back along with the winnings from the bet itself.
If you place a bet on the underdog then you’ll want to pay attention to the number next to the plus sign. If the Jaguars are underdogs with odds of +150 then you’ll have an easy time determining how much money you’ll win if they pull off the upset. Betting $100 on the Jaguars would result in total winnings of $250.
Tips for Sports Betting
Learning more about sports betting for beginners revolves around learning from the mistakes of others and doing your own research. Finding a helpful sports betting guide is a great start, but you need to learn and then implement the best betting tips if you want sustained success. Here’s a closer look at the best tips to apply to your betting career.
1. Practice Reading the Odds
You’ll have a much easier time placing wise bets when you know what you’re looking at with betting odds and matchups. The majority of bookkeepers will allow you to choose the type of bet that you want to use for the upcoming matchup. The two most common odds that people choose to use are decimal odds and American odds.
America odds revolve around the use of a $100 bet to determine your winnings if the bet hits. A decimal odd calculates your bet and helps you determine what the payout is should you win. For example, a decimal odds bet with 4.0 would result in winning $40 if you placed a $10 bet on a game’s outcome.
The most common option when it comes to gambling on sports is the American odds option. Beginners might find decimal odds easier to read, but it’s best to learn both odds options for a stress-free sports betting experience.
2. Learn About Moneyline Bets
Moneyline bets are another common option that you can use when placing bets on sporting events. You’ll have a hard time finding a more basic betting option than a moneyline bet. It’s a basic bet that allows you to bet on which team you believe will win the game.
In a competition like The Masters, the person that is favored to win the tournament will have the lowest payout while others in the field will result in more winnings if the bet hits.
The same principle applies to placing bets on two teams that are playing each other. The moneyline bet requires you to simply bet on the team that you think will win the matchup. The score doesn’t matter as long as your team wins, especially when placing bets at https://www.therx.com/sportsbooks/betmgm/.
3. Use Spread Bets
Another great option that you can use to increase your money by betting on sports is making use of spread bets. Spread bets are radically different from moneyline bets since you can bet on the losing team and still win the bet.
Spread bets involve betting on the margin of victory rather than the team that you think will win. It’s a great betting option if you expect a team to underperform or to surprise their opponents. Rivalry games are a great way to make some extra cash with sports betting since the underdog is more likely to play a good game.
If the Chiefs were favored by 13 points then they’d show up in your sportsbook as (-13). In this instance, you’d need the Chiefs to win their matchup with the Raiders by more than 13 points in order to make money off of the bet. If the Raiders play a good game and lose by only three points then you’d lose the bet, and if the scoring margin is 13 points then the bet is a push and you get your money back.
4. Consider Using Over/Under Bets
Over/under bets are popular with sports that feature lower scores like baseball, soccer, and hockey. The most common way to use an over/under bet is to estimate the total scoring from both teams. If Liverpool FC was gearing up to face Everton at Anfield, it’s possible that the oddsmakers set the over/under for goals at 4.5.
If you don’t think that Liverpool and Everton will combine for at least five goals in the matchup then it’s best to place your money on the “under”. Confidence in the home-field advantage could make it a good bet to take the over, especially if Liverpool has been in great form.
You could also encounter over/under bets for individual performers. This is a common option with pitchers in Major League Baseball with strikeouts in a game.
5. Explore Live Sports Betting
It might be a bit intimidating at first if you’re learning sports betting for beginners, but live sports betting gives you another great option for placing bets on the biggest matchups. The most common form of betting is pre-match betting, which allows you to place bets in the time leading up to the game’s start time.
Live betting is a betting option that is growing in popularity since you get to place a bet after the game has begun. Odds before the game starts are usually more stable, but in-game betting can become volatile. It’s best to monitor the game if you plan on making the most of live betting.
6. Take Advantage of Bonuses
Many online sports betting sites will use welcome bonuses and discounts to get more people to place bets with them. Don’t be afraid to take advantage of these opportunities as you’ll earn more when you win and get money to bet with on the house.
7. Find a Great Betting Platform
You’ll need to decide if you prefer online sports betting or finding a local bookie to work with. No matter what you choose, don’t be afraid to shop around for the best odds and lines before placing your bets. Make sure that the bookie has a valid license to take bets if you want the best results from your sports betting career.
Now You’re an Expert on Sports Betting for Beginners
Sports betting for beginners is an overwhelming experience, but finding the right sports betting guide is a great way to get yourself up to speed when placing bets. It’s important to understand the different types of bets and the ways in which they pay out. Don’t be afraid to shop around for betting platforms that offer convenience, security, and plenty of bonuses.
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