Your guide to sports betting: for beginners

Your guide to sports betting: for beginners

Since the Supreme Court overturned a federal ban on sports betting in 2018, the industry has exploded in popularity, with the American Gaming Association projecting it will generate $53.03 billion in 2021, up 21.5 percent from 2019, the last year with a non-pandemic sports schedule. While many fans have jumped right in, others may be curious about getting into sports gambling as a hobby, but unsure of where to begin.

This primer is for you if you’ve never bet on a sporting event before. To get you started, we’ve put together this primer on the basics sports betting.

If you want to bet on sports, you can do it in a physical location, on your mobile device or at home on your computer. To place a bet at a sportsbook, you must first stand in line, then pay for your bet with cash and receive a paper slip as proof of your transaction. In countries where it is legal, you can fund your online betting account with a credit card or online money transfer.

Another difference is the convenience of live betting (placing a bet on a game after it has already started) via the Internet.


The moneyline bet
The simplest type of bet is to pick a winner in a sporting event. Who wins and who loses is all that matters, regardless of the final result. All bets are considered winners if the selected team ends up winning.

Point spread bet
A bet where the winner must win by a given margin or the loser must not lose by more than a set margin. Week 1 of the NFL season sees the Washington Commanders with a four-point advantage over the Jacksonville Jaguars. It takes a win by at least five points for the Commanders to pay for a bet on them. You will lose if they win by less than three points or if they don’t win.

The juice
When you place a bet on the Moneyline, the Point Spread or the Over/Under, the winnings are juiced before they are distributed. Refer to the numbers -115 and -105 that follow the previous example’s point spread to see what they mean.

An underdog receives a positive number on a moneyline bet and a negative number on a favorite bet. Right now, the Jags are a -180 underdog to Washington.

In other words, if you want to make $100 betting on Commanders, you have to risk $180 (or $18 for a $10 payout or $1.80 for a $1 bet). The Jaguars are also underdogs with a spread of +155. To clarify, a $100 bet on Jacksonville will win $155 ($15.50 for a $10 bet, $1.55 for a $1 bet).

Bets in multiples of 100 and 10 are the simplest to calculate, but feel free to use any whole number. No matter how much you bet, the potential reward will be determined automatically.

The juice is a percentage of the total stake allocated to a team in a point spread bet to ensure a profit for the sportsbook. It’s kind of like paying taxes on your efforts. This example shows that the standard practice of giving each side of a point-spread bet -110 odds is only sometimes followed.

Remember that in sports betting you not only earn back what you bet, but the odds determine the payout. If you bet $105 on Washington covering the -4 spread and it does, you will receive a total of $205 (your original bet of $105 plus the $100 you won on the bet paid out at odds of -105).

A single bet consists of two or more bets, with the payout increasing with the number of bets, or “legs”. All possible combinations of moneylines, point spreads and totals are available for parlays. Every bet within it must come out on top for your parlay bet to pay off.

If you think Washington and Kansas City will both win, you can place a bet on the Commander’s Moneyline (-180) with a bet on the Chief’s Moneyline (-155).

Let’s say you’re interested in a parlay including the Commanders (-180), Chiefs (-155) and Cowboys (+110), who are all underdogs on the moneyline. Including a second leg in the parlay and an underdog to start, the payout on a $100 bet increases to $437.43.

Parlays are risky for players, especially newcomers, as The Post’s Neil Greenberg pointed out.

At its core, a teaser is a parlay: when you make a parlay, you’re betting on the outcome of two or more separate events, or “plays,” and you can only win if each of those outcomes occurs. You can “buy” points on the spread or total for a teaser, often six for football games and four for basketball games.

Consider the first week of the NFL season again. In their respective games against the Rams and Dolphins, the Bills and Patriots are underdogs by one and 2.5 points, respectively.

When betting on a game involving two teams, most sportsbooks add a spread of about -120 to the total.

Like traditional parlays, NFL teasers can get rookies in trouble if they need to be more careful, but there is a method to playing them smart.

The Prop Bet
A prop bet often refers to a bet on the outcome of a single player’s performance. A bet on whether a player will score a touchdown or how many yards he will gain (often broken down into rushing, receiving and passing) is common in American football.

Futures Bet
Futures betting involves betting on a club to either achieve or not achieve a predetermined win total for the upcoming season or to win their respective league, conference or division. Futures betting also allows you to bet on whether or not a player will win a specific postseason award or surpass a certain statistical standard. However, be aware that “subjective trophy awards” such as the league MVP or the Heisman Trophy in college football, where the winner is determined by a vote of the players and coaches, are not legal betting options in all states.

There are plenty of scammers in the sports betting market. Therefore, you should refrain from paying someone to make choices for you. Anyone who boasts an unbeatable gambling record or foolproof technique is at best exaggerating their abilities and at worst faking them. To be safe and secure, you can check which sites are listed above Casino reviewers. They ensure to rank only legitimate sports betting and casino sites online.

It is in your best interest to shop around for the most incredible odds on your bets, especially with the abundance of online sportsbooks available in many states.

Source: The Nordic Page




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