Sports play a major role in the lives of millennials and Gen Z. Whether it’s playing them or watching them on television, sports are among the most popular and favorite pastimes of Americans and people across the world.
Since the legalization of online sports betting, the betting market has become more innovative and engaging. Bettors can now place bets from the comfort of their homes without having to travel to states where betting is legal. Unlike land-based casinos, where bettors wait long hours for a table, all online punters need is a stable Wi-Fi connection and a device to access sports betting apps.
Through online devices, punters can easily increase their engagement while exploring the risks and financial benefits of online betting. There are hundreds and thousands of online sportsbooks that provide countless gambling opportunities. Betting has become a fun way to socialize and earn money.
With increasing demand, the regulations and bookies’ accountability have also been increased by state authorities. With so much risk and new innovative features, it’s surely not easy for a beginner bettor to keep up with everything. This is why we’ve created this short guide that will help you get started in the online sports market. Read on to learn how to bet on sports online.
The Mechanics of Sports Betting
Online sportsbooks help you place bets on real sports events like football, NBL, or cricket. If your bet predictions are correct, you win money, and if not, you’ll lose it to online bookies.
For instance, if you think that Chicago Bears will win the NFL playoff tournament, you can put money on the team. A bookmaker will then present betting odds of 9.00, which means that if you place $1000 of Bears and they win, you’ll get $9000.
Sports betting is nothing new. It has been around for centuries. Online bookies operate almost the same way as land-based bookmakers. The only difference is that you can place as many bets on as many sports as you like using your cell phone. There are many betting markets available with just a few clicks.
If a sport exists, chances are you can find an online sportsbook where you can place a bet on it. The majority of online bookies offer all the major sports betting and a few other local ones.
Sports like football, basketball, ice hockey, tennis, cricket, poker, snooker, and horse racing are offered by almost all major sports betting sites.
There are different types of wagers you can choose from. Here are a few most common categories of sports gambling:
- Betting on the winning team
- Betting on a player to win a match
- Betting on a certain amount of score
- Betting on the number of goals a team or player will score
- Total number of scores
Several more options are available in the market. However, the above are some of the most common ways to bet on a sport of your choice.
Choosing a Betting Site
Before anything else, the first step you need to take is to find a reliable and trustworthy betting site. Many websites offer great rewards and promotions. A few only offer the bare minimum. Additionally, the number of online sportsbooks available makes it difficult to find a betting website that is credible enough to invest your hard-earned money.
Here’s what you need to know about choosing a gambling site:
· Legal License
The most important factor you need to learn about is whether the online bookie of your choice has a legal license. Licensed betting sites provide bettors with more security and safety.
Check the license and permits uploaded on sportsbook websites in the region where they operate. This way, you’ll know that all your bank details and other confidential information are safe.
· Payment Options
Payment options are another important factor that you must consider. Betting websites today have many deposit and payout options, whether it’s a credit card, bank transfer, cryptocurrency, bitcoins, PayPal, etc.
Make sure that the website of your choice has the payment option of your choice.
· Betting Options
Another thing you must check for in the top gambling site of your choice is whether it offers the betting option you’re looking for or not. There are more betting options other than a betting line; this is why you need to explore it thoroughly before you settle for an online sportsbook.
Sports Gambling Laws
As a professional sports bettor, you should always have extensive knowledge about the sports betting laws of your region, even though they can be confusing at times.
In the US, the following two rules apply in online sports betting:
The Biggest Challenges Of Sports Betting
The online sports betting market also presents many challenges, especially for beginner bettors. If you wish to be a professional sports bettor, you will encounter these challenges. To overcome them, you can use the following expert advice:
- Developing the right mindset
- Researching and gaining knowledge
- Accurately assessing the sports betting probability
- Keeping your emotions in check
- Staying unbiased
- Picking the right betting sites and apps
How to Bet on Sports?
Opening a Betting Account
The first step of betting online is opening an account. Signing up for a betting website is fairly easy. All you need to do is sign up and fill in your details. Make sure that the website is safe and trustworthy. Fill out the basic information and receive your welcome reward.
Before depositing your money into the account, check out the bookie’s reviews, bonuses, and other policies. Customer service is also an important factor. You need a betting site where you can access customer service whenever you need it. Otherwise, you may lose money if you don’t get urgent help.
Different Types Of Wagers
Another benefit of online betting websites is that there are many betting options that you can choose from, depending on the type of bet you want to place.
Some betting types are easier than others, so we’d recommend beginner bettors start with them. Other betting types are more complex because it requires a lot of knowledge and experience to make the right decision.
Here are a few common betting types. Learn about them to determine which betting type you want to use:
If you want to go for a high-paying betting type, the parlay is for you. This type of betting is also complicated as it requires punters to roll out several bets in one. To win, all your bets must be 100 percent accurate; otherwise, you lose all your money.
The point spread is another type of betting used for popular sports games like football and basketball. Point spreads give punters the chance to use their sports knowledge and place bets on players or teams they believe can win the match or the tournament.
In this bet, bettors either expect the players to win or lose the game to win money. It’s an easy type of bet that beginners can also benefit from.
Moneyline is one of the easiest and most common types of betting that is the most suitable for beginner bettors. Moneyline bets are among the most popular betting types for major sports leagues like football, basketball, ice hockey, etc.
Moneyline betting refers to placing bets on players you think will perform better in matches or tournaments. You either bet that a player or a team will win or lose. Once the game ends, you can collect your prize money.
Total betting is also known as under- or over-betting. This type of betting is also great for novices. In this type of betting, punters place money on the total points. You either bet on total runs or score points above or below the decided number.
A future bet is also known as outright betting. Future betting allows punters to place bets even before the sporting event. Futures offer great betting odds to punters. If you’re good at predicting the ending of a game, you can try this type of wager.
Reverse bets are among the most complicated betting types, most suited for a professional with a lot of betting knowledge and experience. The reverse bet means you need to place two bets. The second bet will be placed if the first bet is won; otherwise, the additional bet won’t be placed.
Teaser bets are another advanced bet that a beginner shouldn’t try. A teaser bet requires betting knowledge and is one of the common types of betting among professionals.
As the name entails, live bets mean betting on a sports game as it takes place. It’s a risky bet, yet many players opt for this option because it doubles the thrill and excitement of the game.
Prop bet is a type of bet where punters bet on the final outcome of the match or tournament. Prop bets are high-risk and high-reward bets most popular in sports events like Super Bowl.
Pleasers is another advanced bet that is very difficult to win. The rules of this betting type are the opposite of teaser betting. If won, bettors can make a high profit through this bet.
Understanding Betting Odds
Betting strategically and studying betting odds increases the chances of winning a bet. If you’re struggling with understanding betting odds, this can help you:
A sportsbook evaluates the likelihood of a team or a player winning a game and reflects it through betting odds.
Betting on the outcome that is the most favored wouldn’t earn you a lot of money, as would betting on a player or team that is less likely to win the game. It’s impossible to win a game without learning how to read sports betting odds.
Betting odds are presented in the following ways:
- Fractional odds that look like this: 3/10
- Decimal odds look like this: 2.380
- American odds are presented like this: -110 +280
This is one of the most straightforward steps of online sports betting. We’d recommend choosing a sports game that you have some experience with or are familiar with its rules. The reason is that most betting sportsbooks are designed for professional bettors who know how betting odds and placing bets work.
While sports betting is all about luck, it’s possible to win the game by strategizing and researching the players and teams ahead of the event. This will improve a punter’s chances of winning the game and beating the sportsbook.
Now that you are equipped with all the information that you need to start betting online, here are a few pro tips for you to use:
Once you enter the market, start slowly. Don’t deposit all your money at once and risk losing it all. Use rewards and bonuses to familiarize yourself with the policies and rules before you start betting.
Manage your Expectations
Keep in mind that sports bets online wouldn’t make you rich overnight. It will take a lot of hard work and practice before making an actual profit.
Steer clear of alcohol or other intoxicating substances while betting. You need to stay focused and organized while placing your bets.
Recording Every Move
Don’t forget to record your every move so you can go back and check your notes to make improvements in your betting moves.
Bankroll management is money management without which you will lose everything and go bankrupt.
If you’re a beginner online sports gambler who is just getting started, Betting Sites Ranking should be your first step. They offer comprehensive reviews, comparisons, and listings of the top online gambling sites in over 100 countries worldwide.
Not just that, they also have informative blogs on different topics, including betting odds, NBA picks, blackjack strategies, World Cup betting research, and all the other latest news in the sports world.