Placing bets online is a great way to make your favorite sports even more exciting. Betting can be great fun, and if you’re smart and a little bit lucky, you can even potentially win big. If you’re new to online betting, it can be difficult to know where to start. There are so many different options out there, and some terms can be a bit confusing at first.
To make things easier for you to get started with betting online, we’ve put together this handy guide. In it, we’ll discuss the simple ways you can improve your online bets and have better luck with sportsbook betting.
Understanding Odds
Betting odds are the first thing you’ll need to understand before placing any bets online. Odds are a simple way of representing the chance of an event to happen. Sportsbooks use them to show you how much you can win from placing a bet.
At US sportsbooks, the odds you’ll see are known as moneyline odds. These use a number with either a plus (+) or minus (-) sign in front. Odds with a minus sign in front indicate that this option is more likely to happen and is the favorite. If the number has a minus sign, it has a lower chance of happening.
If you want to bet on moneyline odds, you’ll need to know how much you can win from looking at the numbers. Odds with a plus sign in front show you how much you’ll win by betting $100. So if you see odds of +250, you know you’ll win $250 from betting $100. If the odds have a minus sign in front, however, they show you how much you’ll need to bet to win $100. So odds of -250 will pay $100 if you bet $250.
Picking the Best Sportsbook for You
Once you’ve got to grips with the basics of betting odds, it’s time to choose an ideal sportsbook site. You’ll want to pick a site that’s got great options for betting, and most importantly, is safe and legal to use. Be sure to use a site that’s legal to use in your state and check your state laws before playing online.
Another important factor to consider before signing up is the welcome bonus on offer. Most online sportsbooks offer some kind of incentive for new players. You’ll be able to collect free bets or a cash bonus just for signing up and making a deposit. Make sure you check the full terms of the bonus before joining.
Choosing a Sport
Picking a sport that you know well is important if you want to do well when betting online. You’ll need to have a reasonable knowledge of the sport you’re betting on. Even if you’re not an expert, you should at least research key games and information to help place smart bets.
Depending on the sport you choose, there’ll be different amounts of options available to you. Some sportsbooks offer better odds or markets on certain sports than others, so be sure to factor that into your decision when choosing a sport. You’ll want a sport that’s popular enough to have a good range of fair and reasonable odds to bet on.
Placing Your Bets
Finally, you’re ready to get started picking your bets. When you’re first starting out in the world of online betting, it pays to go slow. Start off with a relatively small bankroll and just make one or two bets per game. You should look for value in the odds, that is, odds that you feel aren’t a good reflection of how likely the event is to happen.
Choose your bets carefully, making sure to research the game before you bet. Your research should look into recent form, statistics, and important team news that could affect the outcome of the game. Once you’ve found a good option to bet on, place a small percentage of your bankroll. Base your bet amounts on the probability of the event. Use larger amounts for events you think are more likely, and smaller amounts for events you think have an outside chance of happening.
