Betting on sports is quite simple once you do it the first couple times. It is like they say, “practice makes perfect”. Obviously, we are not encouraging betting, but we do want to explain it, and hope that you make the wise choice of whether to get involved in this activity or not. If you do, we hope you do it with responsibility, and with a proper system – just enough to make the experience a fun one, casual hobby, and not a full-time addiction.
Just in case you think you might have a gambling problem, we highly recommend getting some advice and help, which never is a bad idea to have on the side for anything – Gamblers Anonymous.
Where were we? – Oh right…. How to bet on sports?
There is both offline and online options, which we suggest you research about, such as the best options, and in regards to your local governing laws on the subject too. Vegas and Delaware are some states that have legal sports betting going on.
The online bets are quite similar to offline in the action of betting, but before you get there, you will need to: open a betting account, deposit your money online or by phone and make your bets (keep safe your account number and password in order to login again in the future).
One word you might want to learn and might see or hear around is the “Juice”, “Vig” or “Vigorish”, which is usually around 10% of all the bets charged and feed by all the bookies and/or sportsbooks.
One big mistake is betting on sports you have never seen, or at least, know nothing about, such as the players, the stats, rankings, skills, etc… Beware though, just reading up on the above is not good enough… how many teams perfect on paper have turned out to be such a disappointment and upsets?… endless. So the best position to be on is watching the teams play, as it will allow you to learn what they will be capable of with the next game – the above though does help too.
Set-up your budget and never go beyond your limits – this will only end-up in greed and losing your money. For instance, set-up a limit you can deposit for a season or sporting event, divide it well on the games you wish to bet on for sure or divide it well in order to make 1 bet per week, per day or per game – your choice. If you lose it or win it, don’t go betting on something else or increasing your betting amounts per… you have reached the limit and that is what will keep you in order from losing it all. Hopefully by the end, you will come out on the positive end with extra excitement on the games, but if you lost it… at least it was just the amount you were willing to play with from the start. Remember, set your budget and limits per game, per day, per season, per sport – have fun, but be responsible at the same time.
That covered, there are a good number of points that we will cover separately – thankfully they are quite simple, so lets begin by just name-dropping these:
Quite the list huh? – But it is not as intimidating as it seems.
These are mainly different ways to bet or see what you are betting on.
The standard is basically the “single bet” – which is betting on 1 outcome of a game. The most known is the “Money Line odds”, which is betting on whether team ‘a’ wins over team ‘b’. There is a bit more to the money line, which is basically what the bettor will win or will have to bet to win ‘x’ amount (this will be talked in further details in the money line page).
With a basic idea of sports betting now, you are ready to go forward with sportsbooks as well as to read more details on the points above, which will expand your betting options and risks.