Many people are familiar with sports betting, especially in the U.S where sportsbooks are accessible and legal. For those who aren’t though, betting on sports can seem a bit intimidating. What is betting anyway? Why does one team always seem to win? What are the odds? What makes some games more interesting than others?
If you’re looking to get into sports betting but aren’t exactly sure where to start, this article is for you. We’ll discuss what exactly is betting and how you can get started. We’ll also cover the different types of betting available and which one you should avoid if you’re new to the game.
What Is Betting?
Betting is the act of agreeing to take (or possibly give) something of value upon the outcome of a particular event. For example, you might bet money on a football game knowing that the winner will get some kind of financial reward. In this case, you’re not actually betting on the sport itself but on the outcome of the game. This type of bet is called a “parlay” and it’s typically placed on a sporting event like a horse race or a football game.
Other types of betting involve placing a bet on the outcome of an event that is within the scope of your personal knowledge. For example, you might bet on the weather in Phoenix this coming winter knowing that you’ll either get your money back or win twice the amount you placed. This type of bet is called an “under/over” in casino gambling and it’s perfectly legal. It’s also possible to bet on the color of someone’s shoes or the fashion house they work for (assuming you’re aware of their shoe size or style). These types of bets are typically considered “side bets” by the casinos and are often denied to those who are underage or from a different jurisdiction.
Where Can I Bet?
The main place that most people familiar with sports betting will turn to is their local bookmaker. Most of these companies also have websites which make it super convenient for remote betting from any location. Some of the more popular bookmakers include 5Dimes, BetOnline, and BetCraze.
Many major sports organizations also have their own websites where you can place bets. This is especially convenient if you’re a fan of a certain team and want to follow their schedule or watch their games online without needing to log off and back on again. Popular sports betting websites include NFL.com, BasketballReference.com, and TennisChannel.com. You’ll generally need to create an account on one of these websites before you can place a bet.
Types Of Betting
There are several different types of bets that one can make. Some of the more popular ones include:
- Match betting: this involves placing a wager on the outcome of an event. For example, you might bet on whether a certain celebrity will land a certain celebrity weight loss surgery or whether a certain team will win a particular championship. In these types of bets, you’re not selecting or deselecting an athlete or a football team you know nothing about, you’re simply picking winners based on their performance in a particular event. Match betting is pretty popular due to its simplicity and the number of markets available. Some bookmakers will allow you to bet on any sport, any event, or any team.
- Team betting: this is pretty self-explanatory! You’re essentially placing a wager on which team will win a particular sporting event. Since the teams are already known to you and your odds are already set, this is often a favorite among beginners. Plus, it’s a lot easier to keep track of as there’s only one team you’re looking at at any given time.
- Race betting: this is where you’re placing a wager on the outcome of a horse race. Just like with team betting, you’re simply picking a winner based on their performance in a particular event. One of the main differences between race betting and other types of betting is the number of markets and the time-frame in which you can place your bets. You can typically place bets on races as early as three months out and there will be plenty of markets available. This is great if you’re looking for an easy way to make money but don’t have the time to follow sports all year long.
- Surfing the odds: this is a fancy phrase for when you’re looking for the best odds possible on an event or a team. When you surf the odds, you’re essentially looking at all the information that is available about an event and deciding which one has the best odds. For example, if you want to know what are the best odds for the New York Jets to win the Super Bowl this coming winter, you would go to Vegas and place a bet on them. You would then take that same money and place a different bet on the Saints. This is generally considered an effective way of accumulating winnings, especially if you’re new to sports betting. You can’t really go wrong with it as long as you’re keeping track of what you’ve done. It’s also a great way to learn more about odds and what makes some events more profitable than others.
- Combination betting: this is when you’re trying to achieve a specific goal and that’s what drives your selection. For example, you might want to bet on the New York Jets to win the Super Bowl this winter in order to make a lot of money on a parlay or to even the score against your buddies who always laugh at your sports betting picks. In this type of bet, you’re not necessarily selecting winners based on their performance in a particular event, you’re simply using them as a tool to help you achieve a desired result. This is a type of betting that can be very effective if done correctly. If you’re looking for a new way to make money or even the score, combination betting is something to consider. It’s also a great way to learn more about probability if you’re not exactly sure what that is.
- Future betting: this is when you’re placing a wager on the outcome of an event that hasn’t happened yet. It’s like betting on the weather! Since the odds are generally set already and the time-frame is known, this is typically a popular choice among fans who want to have some fun with their money ahead of an upcoming event. Just remember that if the event you’re betting on is within the scope of your personal knowledge, you’re basically picking an “educated guess” as to the outcome. This means that you’re not really betting on the actual event but you’re betting on how you think the event will unfold. If you’re not sure whether or not this is an appropriate way to make money, then try out some of the simpler types of bets first. It’s a lot more fun if you win because you’re following a game you know and love rather than because you’re trying to beat the odds every time.
- Pro-rata betting: this is when you’re placing a wager on the outcome of an event and, at the same time, offering another wager that is based on the same event but with different odds. For example, let’s say you want to make some money ahead of the NFL Draft this coming winter. You could place a pro-rata bet on the Cleveland Browns selecting first overall knowing that there is a 15% chance they will. At the same time, you could make another wager with SportsBetting.com that states the exact opposite, the Houston Texans are the clear-cut favorites to pick first overall. This is how pro-rata betting gets its name; it is “pro-rate” because, essentially, you are computing the percentage of chance that the first wager you made will pay off. This is a type of betting that is similar to futures betting but it has a longer time-frame and there is usually more information available about the event. Just remember that if you’re combining different types of wagers, it’s usually best to include all the facts in your wager, including the odds and the time-frame in which you want to see the outcome. This will help make sure that everything is recorded accurately. It’s also very important to keep track of what you’ve done so far; this will help you keep track of your goals and ensure that you don’t place the same wager twice. This is why it’s important to enter all your sports betting information, including the odds, into your account on a daily basis. Not doing this can lead to serious problems, especially if you’re serious about winning. Luckily for you, we’re here to help with a step-by-step guide on how to place your first bet in order to make sure that you’re entering all the correct information and doing everything correctly. This is so you can get the most out of your sports betting experience and ultimately win a lot of money.