bettingsports.com > Sports Betting Basics
Let’s be honest, placing your first bet on a sporting event can be a daunting task. At most sportsbooks, you are left in awe of the hundreds of options available and it can often be overpowering for those who don’t gamble regularly.
One of the most important things for a novice gambler to remember is that you simply shouldn’t rush into placing a bet because of pressure. Take your time, conduct some thorough research and make sure you’ve chosen the right market.
Ultimately, you need to figure out what each of the different types of bets mean. Whether that’s from an outright win to handicap betting or over/under points margins, you need to be aware of your chances of success.
For example, there’s no point betting on over 6.5 goals to be scored in a soccer game – it’s just too unrealistic to happen regularly. Do your research and develop a firm grasp of sports betting techniques and advice before diving into the markets. After all, it can be exciting and entertaining once you get the hang of it.
As previously mentioned, perhaps the most important thing is to be able to distinguish between different types of bet – mainly moneylines and spreads. The moneyline essentially informs the bettor about the amount of money that you’ll be paid back if your bet wins. For example, let’s say you’ve placed a bet on the Chicago Cubs to beat the New York Yankees with a moneyline of -180.
The moneyline, which can usually be found at websites such as ESPN, shows that you need to bet $180 to earn $100 in profit. This is consistent across most sportsbooks when placing wagers on favorites. Conversely, a moneyline of +180 means you will receive $180 for each $100 bet when betting on an underdog.
So they just switch around – the easiest way to remember is simply by staking even sums of money; whether that’s $5, $50 or $500 to make your calculations for winnings that little bit easier.
In addition, the spread refers to how many points the favorite needs to win by in order to cover a bet. For instance, if the Atlanta Falcons were facing the New York Giants and the Falcons were valued at -5.5 favorites, they would have to win by six or more points to win the bet.
By the same token, the Giants would probably be valued at +5.5 and that means they could win outright, or lose by less than 6 points to win the bet. Ultimately, this gives another dimension to the world of betting and offers people the chance to boost value in tight games.
When it comes to placing a bet, it varies depending on the method and whether you’re at an online or offline establishment. At a Las Vegas sportsbook, you have to literally hand money over to a cashier who will give you a betting slip with a wager on it. If it wins, you return that wager to the sportsbook who will then pay out.
If you prefer to do your betting online, you have to set up an online account and deposit funds via the bank. From there, you can place bets easily from the comfort of your own home and cash out most bets at any given time – one of the perks of online betting.