There are many ways to skin a cat, but if you want to be successful at betting on sports then there’s no better place than the basics.
Professional sports bettors are brilliant at the basics
It’s important to learn the basics of betting, because bettors can make one big mistake if they don’t. This is why I have created this whole page, where you can find important betting principles and first steps into the world of successful betting.
Betting terms can be confusing, but once you understand them it will be much easier to place bets and track your progress.
As someone who is passionate about sports betting, I am excited to share these 14 sports betting tips with you. So let’s get started!
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Table of contents
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Table of contents
What is betting?
Betting is the activity of placing wagers on events with two or more possible outcomes. This is an agreement between two or more parties. In most cases this is a sports bettor and a bookmaker.
The party that made a correct prediction about an uncertain outcome wins the prize based on wager and the risk(chance). And the party that made an incorrect prediction will forfeit something to the other (to the winning party).
A straight bet, or single bet is a bet on a single outcome of an event. This is the most basic type of bet, and it is perhaps the easiest to understand. You simply choose what you think will happen, and if you’re correct, you win!
Single bets can be made on a variety of outcomes, including who will win a particular game or match, whether a certain team will score more or less than a certain number of points, and much more.
If you’re new to betting, single bets are a great way to start. They’re simple and straightforward, and they give you the chance to get used to the basics of betting before moving on to more complex types of bets.
A parlay bet is a single bet that links together two or more individual wagers. The benefit of a parlay bet is that it offers the potential for a much higher payout than if you were to place each of the individual wagers separately.
The downside of a parlay bet is that all of the wagers in the parlay must win in order for the bettor to receive a payout. If even one of the wagers loses, the entire parlay bet is lost.
Parlay bets are popular among sports bettors because they offer the chance to win a large amount of money from a small investment. However, they can be risky because all of the wagers must hit in order for the parlay to payout.
If you’re thinking about placing a parlay bet, be sure to do your research and understand the risks involved before putting down any money.
A moneyline bet is a type of wager where the bettor picks a team or individual to win an event outright. The odds for moneyline bets are usually expressed as a negative number (-110, for example) or as a positive number (+120) next to the team. This type of betting can also be expressed with other type of odds, like decimal odds, fractional odds or any other.
The favorite in a moneyline bet will have odds expressed as a negative number. The underdog will have odds expressed as a positive number.
For example, in a moneyline bet for an NFL game where Jacksonville Jaguars are playing Atlanta Falcons, the Falcons might be -200 and the Jaguars might be +170.
This means that if you bet $100 on the Falcons to win, you would need to bet $200 to win $100. If you bet $100 on the Jaguars to win, you would stand to win $170.
Point Spread Betting
Points spread betting is a type of wagering where the point spread – the margin of victory for the favored team – is used to handicap the bet. The sportsbook will set a line, and bettors can either select the favorite to win by more points than the line, or the underdog to lose by less points than the line. For an underdog straight win also counts as a winning bet in this case.
For example, let’s say that the Baltimore Ravens are playing the Washington Commanders, and the Ravens are favored to win by 6.5 points. In this case, a bettor who selects the Ravens to win would need them to win by 7 or more points in order for the bet to pay out, while a bettor who selects the Commanders would need them to lose by less than 7 points (or simply straight win).
Spreads variations and the impact on the outcome of a bet
The spreads can be presented in three ways:
- Spread with half point (-6.5 vs +6.5): Bet on favorite wins if teams win by 7 or more points. An underdog bet wins if the team lose by 6 or less points (or if they win the game).
- Spread without half point (-6 vs +6): Bet on favorite wins if teams win by 7 or more points. An underdog bet wins if the team lose by 6 or less points (or if they win the game).
- Pk spread: Neither team is getting any spread points (also shown as +0 or -0). A winning bet is a bet on a winning team, but if the regular game ends in a draw, your bet is refunded.
Point spread betting is a popular ay to bet in games with more points scored. Like NBA, NFL, NCAAF, NCAAB, or any other similar league.
There are other variations of point spreads, like run line in baseball, puck line in hockey or asian handicaps, that is very popular in the soccer betting market.
Asian handicaps are very similar to point spreads, where we don’t bet exactly on the side, but on the side with some added points and some rules.
There are many variations of Asian Handicaps and it is very popular, especially among soccer bettors.
Every Asian handicap comes with the odds – for example:
- [Barcelona -0.25 ] -110
- [Real Madrid +0.25] -110
Asian Handicap table: Here is the table of Asian handicap variations from 0 to 1.
Totals betting also called over under betting is not betting on the outcome of the game or any spread variations, but on points that will be scored in that game.
With this type of bet, the bettor is wagering on whether the total number of points scored in a game will be higher or lower than the amount set by the sportsbook.
For example, let’s say that the Jaguars are playing the Falcons. The sportsbook sets the total at 37 points. Betters can then choose to wager that the final score will be over 45 points, or under 45 points.
If the final total points in this game is 37 (example: 27-10) the bet is refunded. If the total points scored is above 37 (example: 29-16), then betting on the OVER 37 is a winning bet. But if the total points scored in this game are below 37 (17-3), then the winning bet is UNDER 37.
Live betting is a type of sports betting that allows you to place bets on sporting events as they are happening. This means that you can bet on things like how many points will be scored in a basketball game, who will win a tennis match, or even who will get the next yellow card in a soccer game.
If you want to try live betting, there are a few things you should keep in mind. First, live betting is usually only available for the more popular sports. This means that you might not be able to find live betting options for some of the less popular sports.
Second, live betting can be a bit more expensive than other types of sports betting. This is because the bookmakers need to make sure that they are making enough money to cover their costs.
And third, live betting can be a bit more risky than other types of sports betting. This is because you are placing your bet after the event has already started, which means that anything can happen.
Live betting is a great way to get more involved in the games you are watching, and it can also be a lot of fun. It can also be a great way to make some money if you know what you are doing.
Futures bets are essentially wagers on future events. In the world of sports betting, this typically refers to bets made on events that will take place at a later date. For example, you might place a bet on which team will win the World Series months before the event actually takes place.
Futures bets can be placed on a variety of different events, including which team will win a particular championship, who will take home an MVP award, and more.
There are a few things to keep in mind when placing futures bets. First, odds can change over time, so it’s important to stay up-to-date on the latest information. Second, it’s important to be aware of any potential injuries that could impact the outcome of the event you’re betting on.
What is a prop bet?
A prop bet, short for “proposition bet,” is a wager on something that’s not directly related to the outcome of a game. Prop bets can be made on anything from which team will score first to how many yards a player will run for.
Sportsbooks offer all sorts of prop bets to try and attract bets from as many people as possible. Some of the more popular prop bets are on things like how many points a certain player will score, or how many yards a running back will rushed for.
Prop bets can be made on just about anything, and the possibilities are endless. If there’s something you want to bet on, chances are there’s a prop bet for it.
Prop bets are a great way to add an extra level of excitement to a game. If you’re looking to spice up your sports betting, consider placing a prop bet or two.
- [Will Yankees score a home run – YES] +105
- [Will Yankees score a home run – NO] -120
Players Propositions Example: How hits will Mike Trout have today
- [Over 3.5 hits] +105
- [Under 3.5 hits] -120
How to start betting
Here are some tips to help you get started:
Choose a sport that you are familiar with. This will help you understand the odds and bet types better at the start. Find a reputable sportsbook and make sure that the sportsbook offers fair odds and lines. Set a budget for your sports betting, because this will help you avoid chasing losses and prevent you from going into debt.
Learn how to bet properly and stick to your betting strategy. Don’t let emotions dictate your bets. Keep track of your winnings and losses. This will help you identify which sports and bet types are more profitable for you. And don’t forget to have fun!
How much to wager?
When it comes to sports betting, there is no one-size-fits-all answer to the question of how much to bet. The amount you should wager on a given game depends on a number of factors, including your overall bankroll, your level of comfort with risk, and the type of bet you’re placing.
If you’re new to sports betting, it’s generally advisable to start small and slowly increase your bets as you become more comfortable with the process. As a general rule of thumb, you should never bet more than 1-5% of your overall bankroll on any one game. For example, if you have a $500 bankroll, you should never bet more than $25 on a single game.
Focus on the odds, not on winners
Sports betting is all about odds, not who will win the game. Because odds represent the probabilities and to win you must beat them. Nobody can predict the winner of the game for sure, and if sportsbook offer some game, this means that any team can win or any outcome is possible. Keep this in mind. There are no guaranteed winners in sports betting. Simply focus on the price (odds) you are paying.
Overall, self-awareness is key to success in sports betting. Knowing your own strengths and weaknesses will help you to make better decisions and avoid costly mistakes. If you take the time to learn about betting and track your performance, you’ll be more likely to come out on top in the long run.