Have you ever wondered what it would be like to place a bet on your favorite sports team? As sports betting becomes legal in more states, novice bettors are entering the arena. Moreover, today there are a huge number of online sportsbooks and even virtual casinos such as BetandPlay where you can bet on sporting events. While the thrill of winning is enticing, it’s wise to learn the ropes before risking your hard-earned money. This beginner’s guide will walk you through the basics so you can enjoy online sports betting as a savvy player.
The Rise of Legal Sports Betting
For decades, Las Vegas was the only place in America where you could legally place a sports wager. But in 2018, a Supreme Court ruling opened the door for states to legalize sports betting. States like New Jersey quickly set up legal frameworks, and today over 30 states allow some form of sports wagering.
As laws relax, sportsbooks are popping up online and in casinos across the country. Major sports leagues that once opposed betting are now embracing it. They’re even partnering with sportsbooks in sponsorship deals.
This new era gives rookie bettors access to the action like never before. But diving in without an understanding of the basics is a surefire way to lose your bankroll. Let’s walk through the fundamentals so you can enjoy online sports betting as a savvy player.
Choosing an Online Sportsbook
Your first step is picking a trustworthy, legal online sportsbook. Look for books affiliated with major casinos like MGM, Caesars or WynnBET. Their brands offer security and oversight.
Also ensure the sportsbook is licensed and regulated in your state. Most states require them to undergo strict compliance audits on things like geolocation, identity verification and responsible gaming. Regulations protect you as a consumer.
You’ll also want to compare odds and prop bets across a few sites. Shopping lines allows you to find the best values. And a wide variety of prop bets – like how many touchdowns a player will score – increases your chances to win.
Finally, choose a sportsbook with a slick mobile app. The top sites make it easy to sign up, deposit and place your bets with just a few taps on your phone.
Understanding the Betting Lines
The next key lesson is deciphering those betting lines full of numbers and symbols. Sportsbooks let you wager against the spread, on moneylines, or on over/under totals. Here’s what each means:
- Spread – This is the number of points by which a team must win or lose by. If the Patriots are the -7.5 point favorite against the Jets, they must win by 8 or more to cover the spread. If you bet the Jets +7.5, they can lose by up to 7 points and still cover.
- Moneyline – Here you simply pick the outright winner. Odds are adjusted based on each team’s probability to win. For example, the favored Patriots may be -250, meaning you’d risk $250 to win $100. The underdog Jets might be +180, so a $100 bet could return $180.
- Over/Under – Also called the total, this is the combined number of points scored by both teams. Let’s say the over/under for Patriots-Jets is set at 42.5 points. Bet the over if you predict 43 or more total points, or the under if you think 42 or fewer points will be scored.
In addition to these traditional wagers, online sportsbooks now offer an endless array of prop bets. These allow you to wager on outcomes like how many passing yards a quarterback will tally or whether a baseball player will homer.
Managing Your Bankroll
Seasoned sports bettors caution novices to start small. Decide how much you can afford to lose for entertainment, and stick to a budget. Don’t chase losses or double down trying to get even – this is a recipe for disaster.
Show restraint and remember that sports betting is just for fun. Take a long-term view. There will always be another game or match to bet on tomorrow.
Many experts recommend wagering just 1-2% of your bankroll on each bet. For a $1,000 budget, that means betting $10 to $20 per thereviewscasino com. This protects you from the natural variance of sports while stretching your bankroll over the long run.
An alternative is to follow a unit-based system. Assign a value like $10 as one unit. Then scale your bet size based on the strength of the wager – say one unit on mild leans, two units for more confident picks. This allows you to be more aggressive when you spot a sure thing.
Either way, proper bankroll management is key. Don’t risk the rent payment on the big game. With reasonable stakes, you can enjoy online sports betting as an entertainment expense rather than a financial risk.
Doing Your Homework
To bet on sports profitably over time requires research and homework. While luck plays a role, knowledge is power when it comes to sports betting.
First, follow injury reports leading up to games. If a star quarterback is out, that will impact how you handicap a matchup. Home and away records are also telling. Some teams play far better at home versus on the road.
Head-to-head results reveal a lot about team styles and matchups. Some opponents give certain teams fits while others match up well across seasons. Recent trends and momentum also carry real weight in sports.
Statistical models that account for factors like efficiency ratings, pace of play and shooting percentages can help identify value. But there are no shortcuts. Combining analytics with a gut feel for teams and matchups takes time.
Resources like Covers and OddsShark offer breaking line movements, expert picks and detailed team and game analysis. Consuming as much information as possible is critical for any sports bettor.
The Thrill of Victory, Agony of Defeat
Part of sports betting’s appeal is the emotional thrill of victory and agony of defeat. Staking real money adds a rush absent from fantasy sports or pools with friends. But don’t let emotions cloud sound judgment.
Staying disciplined, doing your homework and always shopping for the best lines will make you a winning bettor over the long haul. Remember that even the pros have long losing streaks. Slumps and bad beats happen. Just stick to your budget and bankroll rules.
Now that you understand the basics, it’s time to sign up at a top-rated online sportsbook. Many offer signup bonuses and free bets to new users. There’s never been a better time to put your sports knowledge to the test.
Just take it slow, bet responsibly and enjoy the games a bit more thanks to action on the line. In no time you’ll go from betting rookie to savvy pro.
Facebook Comments