Are you looking to make some extra money while enjoying the thrill of sports? Betting on sports can be an incredibly exciting way to make money, but it pays to know the basics before diving in headfirst. This beginner’s guide to sports betting is designed to help you understand the fundamentals of placing a bet and developing an effective strategy for becoming a successful sports bettor.

We’ll cover the basics of how to bet on sports, the different types of bets you can make, and the best strategies for winning big. With the right knowledge, you’ll be ready to place your bets with confidence and start winning today!

Overview of Sports Betting

Let’s start with the basics of how sports betting works. At its heart, it’s simply a way to bet on the outcome of a sporting event. You have two options when you place a bet: win or lose. If you bet on a team to win, you’ll win your bet if the team wins the game. If you bet on a team to lose, you’ll lose your bet regardless of how the game ends.

Beyond simply whether a team wins or loses, there are a number of factors you can bet on when placing a wager. These factors can include the result of an individual matchup, the total number of points scored by each team, which team will win the coin toss, or even the first letter of which team will score the first basket. There are also wagers that take into account what team will win each quarter, will score the next two goals, or will score the first goal of the game. And, of course, if a game ends in a tie, there are additional wagers you can place.

Betting Strategies


Now that you’ve learned the basics of how sports betting works and have some of the factors you can bet on when placing a wager on, let’s talk about betting strategies. There are many different betting strategies you can use when betting on sports, and knowing how and when to use each one will help you win more often.

1. Value betting

Value betting is when you try to find under-valued bets to make. You want to bet on bets that are less likely to pay off, betting on the underdog.

2. Margin betting

Margin betting is when you want to bet enough money to earn a certain return on your investment. This is usually a 10% return or more, so it’s best reserved for larger bets.

3. Market betting

Market betting is when you try to determine what the odds will be in the future. Market betting is often done by professionals, and it’s generally not recommended for amateurs. Betting on games where your team is expected to win often falls under this category. These may be the best types of bets as they are generally safe while also allowing you to make some money.

Understanding the Odds


An often-overlooked but critical part of sports betting is the odds. The odds are the amount of money you need to bet to win back your bet if your team loses (the return) and the amount of money you need to stake if your team wins (the stake) – the return and the stake. When placing an individual wager, ensure that the odds are in your favor.

When you’re betting on a team, you’ll generally be betting on one team against another. The odds for that game will usually be posted on any given sportsbook’s website. As you can see from the chart above, the favorite team is usually expected to win. If you bet on the favorite team, you’ll win back your stake if the favorite loses.

Use Tips from Experts

Many new sports bettors think that they can rely solely on luck to make profitable bets. While luck may help you in the short-term, long-term success requires knowledge and strategy. It is always beneficial to listen to tips from experienced experts when starting your sports betting journey.

These professionals have seen it all before and are better placed than anyone else to provide insight into potential markets and outcomes. They will be able to advise on which games offer the best opportunities for profit and how best to approach them. Moreover, they will know the ins and outs of most bookmaker’s services, allowing you to get the most out of their offerings.

If you don’t know any professional bettors personally, there are plenty of resources available online like the Dunkel Index. Reading up on forums, blogs, and publications written by these experts will give you a great start in regards to sowing up your own betting strategy. Additionally, following live streams or podcasts featuring these professionals can be immensely helpful in understanding winning strategies as well as giving instant feedback on your decisions as you progress towards becoming an expert yourself.

Money Management Strategies

Bets and plays are meant to be enjoyed in moderation. However, once you begin to win consistently, the urge to bet even larger amounts will likely begin to grow. It’s important to remember that winning big won’t happen overnight. Instead, it takes consistent and calculated betting over time to become a winner in the sports betting world.

To prevent betting too much, you need to set stakes that are too high. When you’re betting smaller amounts on a regular basis, you have a better chance of winning without gambling too much money.

Live Betting Strategy


Live betting is a relatively new way to bet on sports that takes advantage of new technology. Live betting allows you to bet on sports games that are currently being played, which can give you an advantage over competitors. Because the games are taking place at that moment, you can get an up-to-the-second look at how the game is progressing and who the key players are.

Live betting has become a popular way to bet on sports because the odds are more accurate than their traditional counterparts. This is because the odds are calculated from statistics that are updated in real-time, so you know exactly how likely it is that your team will win.


Sports betting can be a lot of fun, but it’s important to know the basics before diving in headfirst. If you take the time to learn the fundamentals, you’ll be able to place a variety of bets on the outcomes of games and develop a winning betting strategy. With the right knowledge, you’ll be ready to place your bets with confidence and start winning today!