How to Bet On Sports – For Beginners
Are you new to betting on sports? You are in the right place to find everything you need to know about sports betting before you put your money into it. Here is how to bet on sports – for beginners.
How Money Line Betting Works
Moneyline betting is the simplest bet, even for a new bettor. It only requires you to predict the winner of a match. It requires no precision, such as the margin of victory or scores.
What are Positive American Odds?
Odds that start with a positive sign reflect the amount of money a player can win on a bet of ₹8000. For instance, American odds of +100 would give a win of ₹8000 for a ₹8000 wager, which means you get a ₹16000 return on your bet.
What are Negative American Odds?
Odds with a negative sign show the amount a player must wager to win ₹8000. Therefore, if you wager on a team with American odds of -110, you must bet ₹9000 to win ₹8000. If your prediction is correct, you get ₹17000, your initial bet, and the profit.
Differentiating between Money Line and Point Spread or Run Line and Money Line can confuse beginners. You do not have to worry. This post offers everything you need to know. By the way, a Run Line is a combination of the Money line and Point Spread in baseball.
What are Decimal Odds?
These are another set of odds formats used outside of the United States. Decimal odds are popular across South America, Australia, Africa, and Europe. These types of odds are easy to understand because they reflect the specific amount you will win for a unit bet.
So, let us say the decimal odds for the NFC Championship to win the Tampa Bay Buccaneers are 4.00. It means that if you bet ₹80 and it is successful, it will return ₹300.
Therefore, if your wager is ₹800, it means you will receive ₹3000, if your prediction is correct. You simply multiply your wager by the decimal odds number you have to calculate your potential winning.
Juice or Vig in Sports Bettings
Juice or Vig means the same thing, and the terms are used mostly in US sports betting. It refers to the money or commission a bookie gets for taking a bet. Higher juice or Vig often results in poor profits for the player. Meanwhile, lower Juice delivers better returns.
Point Spread Betting: What to Know
Also known as Run Line in baseball and Puck Line in hockey, point spread betting is a theoretical victory margin for the favorite team or player in a sports event. The point spread is determined and set by the bookmaker. Point spread betting is considered an element that evens up the competition where one team is expected to win.
It makes the betting odds on both teams a potentially attractive proposition. This type of bet requires that you choose a team that will win more than the specified score or loses by less than the specified score. Your prediction must be correct to win your wager.
Examples of Point Spread Betting
Let us say we have an NFL Point Spread where you predict that the New England Patriots will win with a point spread of -3.5 against the Los Angeles Rams. It means the New England Patriots must win the match by at least 4 points for your wager to win.
On the other hand, if you choose the Los Angeles Rams with a +3.5 point spread, it means the team must win the game. If they lose, they must lose by a maximum of 3 points for your wager to win.
If the outcome of the match has a difference in points equal to the Point Spread, your selection is marked as a push/void. Note that the Run Line in baseball betting is set at 1.5. That means the bettor can wager on the favored team to win by at least two runs or the underdog team to win the game or lose by one run.
What is Totals Betting?
Also known as Over/Under betting, Totals refer to when a bettor has to predict the total number of combined goals scored or points in a game. The concept also covers whether or not the predicted number will go over or under the number the sportsbook set.
The outcome of the wager is not determined by who wins or loses the game. For instance, the sportsbook can decide that the Total Points scored in an NBA basketball match will be 215.5.
If the punter believes that at least 216 points would be scored in the game, they can bet on the Over market. However, if they think the point would be fewer than 215, they will wager on the “Under” market.
What is Parlay Betting?
Parlay betting features multiple selections where the winning on a selection is rolled on to the next. For the wager to pay out, all selections must win. The major attraction of parlay bets is the possibility of winning big for smaller stakes.
It is worth mentioning that the more selections a player has and the higher the odds they include in their parlay bet, the harder it becomes to win. One thing to know about how to bet on sports – for beginners is that related events are restricted from parlay bets.
That means if the outcome of one selection in a parlay bet contributes to the outcome of another, it will not be allowed.
What are Prop Bets (Props)
These are wagers on outcomes, such as the color of clothing the person selected to sing the National Anthem will be wearing. These bets are used for different events not directly associated with the match. For instance, you can place prop bets on the number of songs they will sing by the headline act during half-time. There are various possibilities covered with prop bets.
What are Teasers?
Teasers are similar to parlay bets because they are both made by predicting two or more events will occur during the game. Each selection of a teaser bet must win for the wager to pay out. Compared to parlay, teaser bets are easier to win, but the odds are reduced.
What is Round Robin Betting?
Round Robin betting is a method of wagering multiple parlays in one wager. This bet type makes it easy for punters to place parlay bets consisting of 2-6 teams and 3-8 lines. Punters can cover bases and bet on all possible combinations with a Round Robin. You can select from 3-8 teams to wager on when betting on Round Robin.
Odds Calculator & Converter: How they Work
The odds calculator explains the process of converting and interpreting odds. This works regardless of whether they are fractional, decimal, or American odds.
