Sports betting is everywhere. Online, at the corner bookie, wherever – people are betting on sports all the time. It’s so common that if one person isn’t doing it, their next-door neighbour probably is. For this reason alone you should begin exploring the possibility of how you can join the party and enjoy some of these winnings for yourself. Sports betting is a lot like playing video games – you sit down, put your money on the line and hope to win big. For this reason, it’s also very exciting. Here’s a helpful guide for beginners.
Online Betting v Bookie
There are two main ways to bet on sports – through an online bookmaker or at a brick-and-mortar bookie’s shop. The difference between the two is that online betting is convenient, fast and you can usually bet from anywhere, whether it’s DC betting sites or NY betting sites while visiting a bookie requires more time due to travel and you might not have as much choice. But if you have the time and desire to visit a bookie, it might be worth it because then you can also enjoy some of the atmospheres that comes with being in a physical space where people are betting on sports.
These two types of sports betting are actually very different. If you’re new, it’s best to start off with the convenience of internet betting for this reason.
Different Types of Sports That Can Be Bet On
There are thousands of different types of sports that can be bet on. This is good news for you because even if your favourite sport isn’t listed, or it’s not in season at the time you’re reading this, there will probably be something available. But to get started, here’s what you should know.
- American Football Betting: This is one of the most popular sports in America and therefore, it’s also one of the most popular to bet on. Football games take place weekly and they last for four quarters. It’s a full-day event and you can bet on everything from who will win to how many yards each player will run.
- Horse Racing Betting: Horse racing is one of the most popular sports in the UK, Ireland and Australia. The sport can be viewed globally but it’s most popular where it originated. There are many different horse races that you can bet on each day, for example including which horses will finish in first or second place.
- Cricket Betting: This is mostly popular in the UK, India and Australia with many different types of bets that each have their own strategies.
- Golf Betting: This is an up-and-coming sport to bet on because it has very little physical involvement with most sports betting taking place on the PGA Tour. You can also bet weekly on the shadow tour where you can learn all about golf betting and start getting involved.
- Rugby Betting: This is also popular in Europe, Australia and New Zealand with many different markets to choose from so whether you’re looking at who will win, which team will score the most points or how long the half-time break will be, there are always options available.
- MMA Betting: Mixed martial arts has become popular in the last ten years with many different types of bets that can be placed on this sport. You can bet on who will win or how long a round lasts for just to name a few.
- Hockey Betting: The ice hockey season usually lasts for six months and betting on games can be done through two different types of bets. If you bet on who will win, this is called the money line while if you bet on how many goals or points each team scores, it’s called the puck line.
- Tennis Betting: This is one of the most popular sports to bet on in the UK and Australia with many different bets that you can place each day. There are often long wait times in between matches so it’s best to be organised in advance in order to make the most out of this sport.
Types of Bets
There are two types of bets – Straight Bets and Parlays. A straight bet is a bet on one outcome and if that team or player wins, you win the bet. A parlay is multiple bets placed on two or more outcomes but as long as at least one of those bets wins, you’ll still receive your payout.
Then, the odds represent how likely it is for an outcome to happen with the payout representing how much you’ll win if your prediction is correct.
Let’s say that Team A has a 50% chance of winning and they’re playing against Team B who only has a 30% chance of winning. If you were to bet on Team A, the odds would be -150 which means a $150 bet would earn a total of $100 (the winnings). If you were to bet on Team B, the odds would be +125 which means that a $125 bet would earn a total of $250 (the winnings).
The payout is represented as [+150] or [-150] and it’s calculated by multiplying your bet by the odds. If you won a straight bet, the payout would be [+/−] what you bet.
You can do the same calculation if you win a parlay.
Take the following example: If you bet $100 on Team A and they win, your payout would be $150 – so if you won a straight bet, your profit is $50. However, if you parlayed Team A with another team playing at another time slot and they also won, the payout would be $600 – so if you won a parlay, your profit is $500. As you can see, parlay bets can be much more profitable but they also carry a much higher risk.
Selecting Your Bets
The first question you need to ask yourself is whether or not you’re betting for fun or for profit. If your intention is to just have some fun and spend some time watching sports, then you can place any bet that takes your fancy. However, if you’re looking at making money, selecting the bets requires a bit more thought.
When making bets, you need to be aware of the current situation in each game and also who is likely to win. While there are many different types of bets that you can place on sports, not every bet will be available in every game or match so it’s best to learn about all the different options before moving forward with any bets.
Once you’ve selected an outcome and placed your bet, it’s time to sit back and enjoy the game. Remember that while some sports allow you to change your bet after placing one, not all of them do so check before betting on anything!
Sports betting can seem complicated so if you’re new to sports betting, it’s best to start slowly. Decide what sport you want to bet on and how much money you would like to put into the bet before picking an outcome. Once that is done, start learning about all the different types of bets that are available in that sport before placing any money down.
