Do you want to learn sports betting right now? Then, you have come to the right place! In this sports betting blog, we will guide you on how to place sports wagers in no time. Are you serious to earn some money by placing a bet on your favorite sporting event? Then, let us focus on what you need to know.
As a complete beginner, it is so much easy to getting started in sports betting. You do not need to know that much. There are steps that you need to follow. However, before anything else, what does sports betting mean?
What are sports betting?
It is a form of gambling wherein you are placing a wager (bet) on the outcomes of a sporting event. In sports betting, you are primarily aiming to win additional money. Moreover, you are betting on two possible outcomes. It is either you win based on the bookies’ odds or you will lose your bet. To bet on sports, you must place your stake through a bookmaker or Sportsbook.
What is a bookmaker?
Also known as Bookie, Sportsbook, betting agency, or bookmaker. A bookmaker is a company that provides sports betting services to sports bettors or punters. When you are wagering on an outcome, then, are also supporting that outcome.
Let us say you are betting on Arsenal to beat Manchester United. It means that you are backing on Arsenal as well.
In this sports betting blog, we will later discuss the different types of bets. Nevertheless, before that, let us discuss the different steps you need to follow when betting on sports.
Learn Sports Betting Online: Five Easy Steps That You Should Know
Step 1: You need to set a budget
Setting a budget is very important if you want to learn sports betting online. So, before you start wagering on sports, set how much money you are willing to put at risk.
Do you want to bet on sports regularly?
Then, you should also set a weekly or monthly budget that you will spend on sports betting. Moreover, make sure that you will stick to this budget.
Notably, there is a fat chance that you are going to lose most especially that you are a beginner. So, the money you are willing to risk must be extra money outside your financial needs. It means that you should not gamble the money you do not afford to lose.
What is the best sports betting strategy for a beginner?
As you are just starting to learn sports betting, we do recommend that you start betting on a small budget. Thus, we are not going to tell you how much money you should risk. Truth is, there is no point in risking a huge amount of money when you are just started to learn the sports betting process.
Even if there is a chance that you might get lucky and win, still, the odds of losing are far more likely to happen. Regardless of how wealthy you are, it is still disheartening to lose a lot of money.
As a beginner, it is very sensible to set aside a modest amount of money first. Then, see how things will go as you learn each process of sports betting. Therefore, when you finally gained some experience betting on sports, that is the time you can increase your bet.
Then again, it is important to consider the amount of money you are willing to stake per wager. However, it does not mean you need to be very overly cautious when setting a budget. What we are saying is that by betting too much then it is most likely you will be busted quickly.
As a beginner, a good rule of thumb is to place a bet that is equivalent to 2% of your overall betting budget. Anywhere between 1-5% of your betting budget is fine as well.
To be successful in sports betting, you must learn how to budget and manage your money.
Step 2: Decide What Sporting Event to Bet On
Back in the day, sports betting are only limited to mainstream sports events. With the increasing popularity of sports betting online, you can easily bet on almost any sport. Today, many sports betting sites and bookmakers are offering their players many options on how to bet virtually on every league, competition, and tournament.
Despite the many options available, you cannot realistically bet on everything. You must decide which sports you are going to focus on. Although you can always change your mind, you should plan what sports you will bet on. We recommend that you bet on sports that you already know.
Different sporting events at both amateur and professional levels:
- American Football
- Track Cycling
- Auto Racing
- Mixed Martial Arts
Furthermore, your betting can also extend to non-athletic events like:
- Horse racing
- Greyhound Racing
In sports betting, it does not necessary that you bet on too many sports. Moreover, some sporting events are not played all year round. That is why; you need to take time which sport will suit your needs.
If you are not a huge fan of sports, then sports betting will be more difficult for you. You need to read different sports betting blog sites to gain insights and knowledge. Likewise, you can experiment with popular sports to see which one you will enjoy.
Learn about sports betting Step 3 – Register to a Betting Site
There are various ways to place a bet on a sporting event. This includes:
- Betting on a bookmaking shop
- Placing a bet over the phone
- Wagering at a casino Sportsbook
Today, the easiest way to place a wager on sports is over the internet. This is also the reason why online betting is widely prepared by most punters. It is also a recommended option for beginners like you because of the various betting available.
Joining a betting site is so much easy and simple. The registration process can be done within a couple of minutes. All you have to do is sign up an account on a sports betting site. Then, enter your details such as:
- Date of Birth
- Email Address
The only difficulty you will face is picking which sports betting site to join. Notably, you are going to deposit real money on this site. So, make sure that the bookmaker you choose is a reputable and trustworthy one. To make sure that your first betting experience is the best, join the sites that provide the best sports betting service.
Sportsbook betting in Singapore is widely popular. In fact, there are hundreds of sites that you will come across to. Therefore, you must make a background check before registering an account.
Best Sports Betting Strategy Step 4 – Learn About Odds
The sports betting odds play a very important role when betting on sport. As you go deeper into sports betting, you will learn about them. For now, we will just discuss the three key points of sports betting odds.
The sports betting odds can be expressed in three different formats. You can use the odds to calculate the payout from a winning stake. In addition, it indicates how likely your bet is going to win.
The three different sports betting odds formats are:
- Decimal Odds
- Moneyline Odds
- Fractional Odds
The decimal odds are becoming the “Global Standard” in online sports betting. Still, you will come across different sports betting odds, most especially if you are betting on an Asian Sportsbook. Therefore, we recommend that you must at least get familiar with each one.
Learn Sports Betting: The Decimal Odds
This is the simplest and easy-to-understand format for sports betting odds. The odds are displayed in a single number with two decimal places or more.
Example of decimal odds
Furthermore, you can calculate your potential winnings by multiplying your bet by this number. Therefore, the potential payout for your $10 bet at 1.50 would be $15. This payout also includes your initial bet, so, your profit would be $5.
About Sports Betting Moneyline Odds
Also known as American odds. The Moneyline odds are often displayed as a single number and preceded by either “+” or “-” symbol.
- +200 (Odds against)
- -150 (Odds on)
Odds against shown how much you stand to win based on a $100 bet. If you win, your $100 stake would win $300. Thus, you win $200 plus your initial stake of $100.
Odds on the show how much you need to bet to win $100. If the odds are -150, then you need to stake $150 to win $100. Therefore, your total payout would be $250.
Learn Sports Betting Online: The Fractional Odds
Fractional odds are much more complicated among the three main sports betting odds. Here are some of the examples of fractional odds along with their equivalent sports betting format. You can read the best sports blogs to learn more:
Example of Fractional Odds
- 2/1 (+200, 3.00)
- 3/1 (+300, 4.00)
- 1/3 (-300, 1.33)
Blog Sports Betting Step 5: Learn the Simple Bets
When you want to learn sports betting online, and then familiarize yourself with the different sports betting to choose from. In this sports betting blog, you do not need to know about each type. We recommend that you keep your betting as straightforward as possible.
Straightforward bets include:
- Win bet/Moneyline bet – you are betting on each team that will win a game.
- The point spread – commonly used in football. Here, the odds are displayed with a + or – symbol. In a point spread, if you bet on the favorites (+3), then, their score will be deducted by 3 points. Likewise, the underdogs’ score will be given an additional 3 points.
- Totals – In total wagers, you simply have to bet on the actual total in a game or event. Then wager whether it will be lower or higher than the estimated total given by the sports betting site.
- Futures/outrights – here you are betting on the winner of the entire tournament or league. Thus, you are placing your bet before the game starts.
Learn Sports Betting FAQs:
What type of sport is easiest to win betting?
Tennis sporting events offer the best odds among the others. Thus, it is one of the easiest games to win in sports betting. Moreover, even beginners can choose the games that offer the best odds. In addition, your winnings will depend on how much you are willing to bet.
Why do most punters lose?
Most punters often lose in sports betting because of poor money management. Even seasoned bettors get busted because they are not good at handling their money.
In sports betting, what is the hardest sport to bet on?
Baseball is probably one of the hardest sports to bet on. Each game is very unpredictable. Even if the team has the best player, still, there is no guarantee that they will win the game.