Sports betting has become big news lately with the massive growth of online gambling. But did you know that sports betting dates back to the Roman era? Many societies since have developed a culture of sports betting.
But if you are new to the gambling world, you might ask, how does sports betting Work? Well, you are in luck with this sports betting guide.
Keep reading to learn about the fundamentals of sports betting and the types of wagers you can make. These sports betting tips will give your favorite game a boost of excitement with a chance to cash in.
What Is Sports Betting?
Over the years, sports betting has become more than predicting the winners of games. Today, wagers can involve any part of the action surrounding a contest. In addition, handicappers today provide odds for more complicated sports betting.
For example, gamblers use a combined wager to include the top three runners in horse racing. Selecting more than one outcome with a single bet increases the payout odds.
Yet many turn to sports betting advice as wagering becomes more complicated. For example, there are several ways to wager on sports contests without predicting the winner. In addition, sports betting now includes player performances and game statistics.
Learning the cost of sports betting is essential when getting sports betting advice. Modern sportsbooks offer betting lines for sporting events with attached fees. These fees get called juice or vigorish in gambling circles.
Every bookie will attach the juice or vigorish to either side of your bet. So knowing the vig cost is an essential part of the sports betting guide for increasing profits.
Most sportsbooks charge a 10% fee on sports betting with their site. However, several reduce the vig to 5%, which may make a significant profit difference if you shop for better values.
How Does Sports betting Work?
Your first look at sports betting lines may seem confusing. But all sportsbooks show odds on matches with a simple sports betting guide. You can choose to have odds appear in fractions, decimals, or American odds formats.
American odds are the most common way to look at sports betting lines. So when you look at the odds for one game, the line will provide odds for three betting styles. Money lines, point spreads, and totals give bettors different ways to wager on the same event.
It’s critical to note that betting odds for these types get based on a $100 wager. Of course, you don’t have to bet that amount, but it will help you understand the possible payouts for each bet.
If you bet on a favorite with -125 odds, you must bet $125 to earn a $100 profit. But with the underdog at +125, your $100 bet will pay $125 in profit.
In both scenarios, your original bet gets returned with your winnings. So, in this case, either bet pays back $225 for a winning pick. The minus sign indicates the favorite, and plus signs will show the underdog.
For example, you might see odds for a game between the Buffalo Bills vs. New England Patriots that look like this:
- Buffalo Bills (-130) -4.5 (-120) O/U 46.5 – 110
- New England (+175) +4.5 (+125) O/U 46.5 – 110
Each number shows the odds of betting spreads, straight bets, and game totals. Starting from left to right, each set of odds determines the favorite, the underdog, and the possible payout.
The money line is a straight bet on which side will win the contest regardless of the score. So you only need to determine which team will win the game to win your sports bet.
But notice the difference in what the oddsmakers think the outcome will be for this game. A $100 wager on the New England Patriots at +175 will pay a $175 profit. On the other hand, you must bet $130 to earn a $100 profit on the Bills.
This type of sports betting asks gamblers to predict the possible scoring outcome. You can find sports betting tips to help you determine which team has a better chance to succeed. Of course, researching the teams’ tendencies will help you make informed decisions.
In the above example, oddsmakers favor the Buffalo Bills to win the game by 4.5 points. If you think Buffalo can win by five points or more, your $120 will earn a $100 profit.
Yet, if you choose the underdog Patriots, they don’t have to win the game for your bet to win. New England can still lose by four points or less for your $100 wager to pay $125.
This type of bet involves game totals rather than predicting who will win. However, if you study both teams’ scoring trends and defenses, you can predict the final combined score to win. Oddsmakers will choose numbers based on careful analysis.
Most times, the odds will be equal for the Over and Under bet. In the example, the odds are -110 for sports betting on either outcome. Choose whether you think the total score will go over 46.5 points or under.
So if Buffalo wins 20-16, the under bet will pay $100 on a $110 wager. The two teams must score 47 points or more for the over to pay out. With this type of sports betting, it doesn’t matter which team wins as long as you choose the correct outcome.
Other Sports Betting Options
There are several other wagers available that get you deeper into the game. For example, prop bets allow you to make wagers on player performances or types of scoring. For example, in football, it’s possible to choose which player might score the first touchdown.
Parlay betting lets gamblers combine outcomes into one wager for higher odds. Also, futures betting provides odds on which team might win the championship at the end of the season.
A Complete Sports Betting Guide
Once you have answered the question, how does sports betting work, it’s easy to see how to add excitement to the game. Yet, with all the available options, getting the best sports betting advice is crucial.
Picking game winners brings an extra layer of thrills to watching the game. So elevate your action and visit our website today for the best sports betting tips and news.