How to Get Started With Sports Betting: An Overview
Did you know that close to 45 million people in the United States of America will place a bet on a National Football League game each year? Sports betting is a hugely popular industry that ties in the adrenaline of watching your favorite athletic or sporting events with the adrenaline rush of winning potential money. There are several great ways that you can win money through online sports betting, like signing up to use the best sports betting app on your mobile device or tablet.
There are also many great options when you look at sports betting sites for placing wagers on different sporting events.
If you’ve always wanted to learn more about sports betting but didn’t know where to start, then today is your lucky day. You’ve come to the perfect place to learn about the best sports betting sites and strategies to increase your winnings.
Keep reading this article to learn more today.
Understand Favorites and Underdogs
The first thing you need to learn about sports betting is the differences between favorites and underdogs. Favorites are expected by the bookie to win the match or the game, which means you don’t stand to gain much by betting on them. A favorite will have a number with a “minus” sign next to it.
If a team is an underdog then they’ll get that same number, but instead of a minus sign, there will be a plus sign. Sometimes the two teams are evenly matched. When that happens, the person setting the odds for the game will put it as a “pick’em” matchup.
Understand Points Spreads
Another big thing to grasp is the point spreads that the oddsmakers set for different games or matchups. These point spreads are the primary way to go about betting on a team that is the favorite or the underdog. When you bet on a point spread, you’re betting on how much you think a team will win or lose.
If the Chiefs are playing the Steelers and the Chiefs are 14-point favorites, then the point spread will get listed as -14. Choosing to bet on the Chiefs means that you won’t win the bet unless the Chiefs beat the Steelers by more than 14 points. If the Chiefs win by 17 points, you’d cover your bet and receive your winnings.
If the Chiefs struggle in this game and only win by 14 points, your bet would “push,” which means you get your money back. Think of it as tying when it comes to sports betting.
If the Chiefs win by less than 14 points or lose the game to the Steelers, you’d lose any money you bet on the game.
Betting on the underdog is different. If you were to bet on the Steelers, you would win the bet as long as the Steelers lost by less than 14 points. You’d also win the bet if the Steelers won the game against the Chiefs. Since you bet on the underdog, your winnings will be much larger.
Learn About Moneylines
Moneylines are also important when you’re getting started with sports betting. It is another option you have when you’re betting on an outcome of a sporting event. The Moneyline is a bet on which team you think will win.
The odds for Moneyline are displayed similarly to point spreads in that they use a minus sign or a plus sign to indicate which team is the favorite and which team is the underdog. If the Chiefs are listed at -150, you’d need to bet $150 for each $100 that you’d win should the Chiefs beat the Steelers.
If the Chiefs win the game by any score, you’d win the $100 and get all of the $150 you bet on the game. Should the Chiefs lose, you’d kiss the $150 you bet on the game goodbye.
Betting on underdogs goes the opposite way. If the Steelers are +200 underdogs and you bet $100 on the Steelers winning, you’ll get $200 in addition to your $100 bet back. If you bet on the Steelers and they lose, you’d only lose $100.
Moneylines are a popular option throughout sports betting, but there are certain sports where they are more prevalent. The most common sports that use the Moneyline are baseball, hockey, and soccer though they’re also popular for use with NFL and NCAA football.
Some oddsmakers will also list an option for you to bet on the over/under of a game. The over/under is based on the predicted amount of points that both teams will combine to score in the game. You’ll have the chance to bet on whether or not the points totals will amount to higher than the set number.
It is another way that you can bet on your favorite sporting events. You can even take steps to become a bookie and set your odds as a second career if you want.
Learn How to Place Sports Bets
Once you understand the things you can bet on and where to make these bets, you can start picking sporting events and teams to bet on. Sports betting is getting legalized all across the country though you should still ensure that you’re betting in states with legal sports betting to be safe.
There has never been a time when you have more options to choose from when you start online sports betting. It is important that you do your research and read online views as a way to find the best sports betting app on the market.
Decide How Much to Bet
You’ll also need to learn more about how much to bet when you start your sports betting career. It is up to you to decide how much money you wish to bet on a sporting event, but you should never bet more money than you can afford to lose. When considering sports betting, viewing it as a marathon rather than a sprint is best.
You should never risk losing more than 5 percent of your bankroll on any bet or sporting event. If you have $1,000 to bet on sporting events, you should never bet more than $50 on any matchup. Sports betting comes with hot streaks and cold stretches, and betting too much at once will make you lose a large chunk of your bankroll in a flash.
Track the Betting Lines
Betting lines regarding sports betting are similar to the New York Stock Exchange stock prices. They both change in real time, and it is up to you to monitor them to get the most favorable price possible. The oddsmakers are always looking for news surrounding a matchup that might change the odds.
Things like injuries to key players and changes in the weather will change the betting lines and make things more favorable for you. Ensure you track betting lines when you’re ready to place your bets.
There are tons of sports betting sites and sports betting apps to choose from when you decide to start your sports betting career. Make use of all of these options. Shopping around is the best way to get odds that will provide you with the biggest payout at the least risk.
You’ll get different lines from different oddsmakers, but you’ll never know that if you don’t explore all of your options before placing your bets. Do your due diligence to get the most favorable lines.
Find Your Strengths
It is important to remember that you’re risking your hard-earned money each time you place a bet on a sporting event. Make sure you track your progress and find the areas you’re strongest in regarding sports betting. Tracking your progress will help you find patterns and locate the sports leagues that you have the most successful betting on.
If you have a great track record for betting on Major League Baseball games, you should focus more of your time and bankroll on betting on baseball games. If you notice that you almost never win your bets on NFL games, you should avoid betting on NFL matchups.
Start Your Sports Betting Career Today
Getting started with sports betting is as easy as taking the time to learn the terminology and finding the best online sports betting apps and websites. It is important that you shop around for the best betting lines and keep tabs on things like key injuries and changes in the weather forecast. You should also track your progress and find your strengths as a sports bettor.
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