Are you looking to capitalize on the exciting world of sports betting but don’t know where to begin?
If so, you’ve come to the right place!
In this article, we’ll teach you the essentials of betting on sports, including how to make the right wagers, read football results, and understand sports betting odds. We’ll also discuss some of the more popular sports to bet on, such as the NFL, the NCAA, and the NBA.
The Essentials Of Sports Betting
To start, let’s review the basics of sports betting, including terminology and how to place wagers.
Although any game may be subject to change, betting refers to the act of placing a wager or bets on the outcome of an event (such as a sports game). When placing a wager, you are making a commitment to risk money on the outcome of an event. For example, if you wager $100 on an NBA game and the spread is -3 points, you are committing to losing $3 if the game ends in a tie.
The American Gaming Association (4A’s) estimates that 10.4 million US adults gamble on sports. This is compared to 8.9 million adults who play video or computer games and 7.2 million who go to the movies. So, it’s clear that more and more people are getting involved in sports betting every day.
To make a wager, you will need to have money in your account. You can utilize sportsbooks, which are locations where you can place your wagers, to do this. When it comes to sportsbooks, you have two options: physical locations and online sportsbooks. We’ll discuss each type of establishment in more detail below.
Types Of Sportsbooks
There are two types of sportsbooks: physical and online.
A physical sportsbook is one where you can go in person and place your wagers. Most companies that offer sports betting also have physical sportsbooks, so you can bet on games in person. As an added bonus, these types of locations are usually open to the general public, and you don’t need to be a member of a bookmaker’s club to utilize them.
An online sportsbook, as the name implies, is one where you can make your wagers from the comfort of your home or office. You will need an internet connection to do this, so make sure that your device is compatible with online gaming sessions. If you are looking for a sportsbook that is open 24/7, or if you’re a frequent casino traveler, then online sportsbooks are the perfect solution. They are also great for those who want to bet on sports from a mobile device. Not all sportsbooks are created equal, however, and it’s important to do your research before committing.
Terminology
In addition to reviewing the basics of sports betting, let’s now discuss some of the common terminology used when placing wagers. First, let’s discuss what the terms ‘line’ and’spread’ mean.
A line, sometimes referred to as a point-spread, is the betting line set by the bookmakers for a specific game. The line may be based on public opinion or just a guess about what will happen in the game. For example, the line for the Oakland Raiders vs. New York Giants game might be as follows:
- NYG (-3.5) over OAK
- Raiders (-7) over NYG
This means that the bookmakers are giving the NYG a 3.5 point spread and the Raiders are 7 points behind. The closer the spread is to 0, the more popular the game. The further it is from 0, the less popular the game. For example, a -400 line on a game means that the bettor will win $400 if his team wins and he loses $400 if his team loses. A -500 line on the same game means that the bettor will win $500 if his team wins and he loses $500 if his team loses.
It is vitally important to note here that when calculating winnings and losses, you must use the winning margin for the team you’re backing. For example, if your team wins by 2 points, you will need to add 2 points to your overall winning sum (if it’s a $100 bet, you’ll need to add $102 to your winnings). In the case of a loss, you will need to subtract the losing margin from your overall losing sum. For example, if your team loses by 1 point, you will need to subtract 1 point from your overall losing sum ($100 bet results in a $99 loss).
The second important term to know is ‘over/under’. With an over/under bet, you are betting whether the total number of points scored by both teams will be higher or lower than a certain number. For example, you might want to bet on whether the total number of points scored by both the Giants and the Raiders this season will be greater than or equal to 39 points (the sum of their current point totals, including any future games). In this case, you are betting on the over, or if the total points scored will be higher than 39, you are winning.
The key points to keep in mind when placing bets are:
- The line, also known as the point spread, is the amount of money you’re committing to wager on the game. Lines are usually very close to 0 in college and professional football and basketball, as you can see in the example above, but can be much more popular in baseball. Typically, the further the line is from 0, the more interest the game will have
- The over/under is a type of wager where you are betting on whether the total number of points scored by both teams will be higher or lower than a certain number
- The money line is an option where you are betting on whether your team will win or lose the game
- The time of day and venue, as these will determine whether you can find a seat or not and whether there will be other people there to bother you
- The temperature is important, as you want to avoid sweating while placing your wager
With practice, learning how to bet effectively is not that difficult; it just takes some time to get used to the idea that you’re committing money to lose or win. Once you are fully aware of the risks, however, it’s an exciting world of sports betting!