Quick Beginner’s Guide: Betting On Sports Online

Everyone seems to be talking about sports betting these days but many have never tried retail or online betting before. If this sounds like you or you simply would like to take sports wagering a bit more seriously and start earning some extra bucks then this brief 101 sports betting guide should come in handy. Without further ado, let's dig right in!

Tips For Reading and Calculating Sports Betting Oddssports betting

Getting a good understanding of betting odds on sports means knowing which bets are worth your time, effort, and money and which bets you should stay away from. 

For starters, know that the odds are normally found in a rich plethora of formats, but this does not make them hard to decipher or work with. These odds can be used to calculate the probability of an outcome during a sports event and they are normally displayed in decimal, fractional, and American formats. Each of these odds will not only show you how much you can expect to win while placing a bet on the respective outcome but also tell you which is the implied probability of the said outcome they are tied to.

Odds depend on a variety of factors and they should not be the only things to rely on when assessing the probability of a certain event happening. Sportsbooks constantly manipulate these odds in order to create incentives for certain bets on one side or the other. The sum of all probabilities for just one sports event will go over 100% since bookmakers will always grab a slice that is always part of the odds. 

These odds will show you how much will the book be charging in order to accept your bet and the term is colloquially known as a cut, juice, or vig.

+ and – Signs When Betting On Sports

Seeing the plus and minus signs on betting lines means you are looking at the prospective payout as well as knowing if you will be betting on the underdog or the favorite. A negative number will represent the favorite and it will tell you the amount you will need to bet in order to win $100.

A positive number will tell you that you will be betting on the underdog, while letting you know how much you should expect to win if you will bet $100.

How Moneyline Bets Work

The most popular, go-to type of sports bet that probably comes to mind when thinking about sports bets is the moneyline. This is the simplest wagers referring to the team or player you believe will win a game, match, or fight, depending on the sport you are interested in wagering on. In other words, you will need to focus on choosing the team you think will win the game by selecting the outright winner. 

The numbers you will see showing up next to each of the teams part of a moneyline bet are called American odds and they will tell you the implied winning probability of each of the participating teams. They will also help you understand the amount you could win, based on the exact wager you will choose.

The underdog is the team featuring a + sign next to the odds. The favorite is the team displaying a – next to the odds number. At times, both participating teams will display a minus sign next to their odds, which means that the team that has the odds number that is farther from zero will be the favorite. Such a bet is more difficult to win, which means you can expect to be given a higher payout when betting the underdog. 

Against the Spread Bets 

The majority of sporting events have their own favorite, which means the bookie applying a certain spread to the respective event is a means of creating an even field of play. NFL and NBA bets are some of the most common types of bets where point spreads are seen most often. betting against the spread means not only rooting for the favorite team to win, but also for them to win by more than a certain amount, which is the point spread in question. this will help the bettor cover the spread. This bet is also referred to as the great equalizer since it has the power to turn every matchup into an event with fifty-fifty odds. 

Most sportsbooks online will include detailed instructions and information on the terms used on their platforms and the way their bets work. Opt for a reliable mobile online sports betting site or dedicated app and start placing our best on the gom straight from your smartphone, for even more convenience.