If you’re new to sports betting, then it’s always fundamental to start with the basics. And there is no better starting point than learning how to place a sports bet. In this guide, we will take you through some of the sports betting basics, including a step-by-step on how to place a sports bet.
There are multiple markets you can place a bet on. We will go through them, while also explaining odds in sports betting and how they work. Once you have everything down pat, it will finally be time to move on and learn how to place a sports bet.
The Basics of Sports Betting
Whether you are new to sports betting or an experienced bettor, the goal is very much the same in both cases: winning. While there are professional bettors out there, the majority usually bets for fun. That, however, doesn’t mean that you won’t be able to make a profit.
The basics of sports betting can also apply to both professional and amateurs, to experienced and new bettors. You will be wagering money from your account balance on the outcome of a match or tournament. This isn’t restricted to the final result either. There are multiple options available, called betting markets, which include many other outcomes such as individual stats, handicaps, and more.
Understanding Odds in Sports Betting
Odds are, by far, the most important factor to take into account when betting. But what are the odds in sports betting, and how do sports betting odds work?
How much money you make depends on the odds set by the sportsbooks. In sports betting, just as we mentioned earlier, you will be placing wagers on potential outcomes. These outcomes carry odds, which indicate how probable it is for the outcome to take place. Shorter odds mean that the outcome is very likely to happen, while longer odds indicate the opposite.
Shorter odds also mean a smaller return, which is quite logical. After all, it makes no sense from the operator’s perspective to offer a high payout on a safe bet. Longer odds offer a better return but also come with a much higher risk. There is no right or wrong here – it is all about finding the right opportunities and knowing which odds to pick.
Odds can be shown in three different formats
The payout is always going to be the same for all three. This is simply a convenient feature that allows users to choose whatever odds format they feel more comfortable with.
Also learn about Point Spreads Betting Tips and Tricks
Sports Betting Markets
Now that you already have an understanding of how odds work, the next step is to learn about betting markets.
The most common bet is the moneyline, which is simply wagering on the result of a match. Future bets -such as picking the tournament winner- are also relatively common. But what most newcomers to sports betting probably don’t know is that there are many other markets available.
Before you move on to place your first bet, it’s always nice to have a few more alternatives available. Future bets can be a bit risky, and one-sided matchups usually offer uninspiring moneyline odds. And that’s why other betting markets exist. You can always look for different ways to profit.
Here are some examples of betting markets:
Over/Under:
Points Spread:
Prop Bets:
Tips on How To Place a Sports Bet
There are a few things to watch out for when placing a bet.
Make sure you are using a legal online sportsbook. Legal operators must provide their license information, which ensures that you are using a trusted website. Licensed sportsbooks employ all necessary internet security measures to protect their users’ information.
Examples of How to Place a Sports Bet
Now that you know the basics, it’s time to place a bet. The whole process of placing your first bet is actually quite simple:
| Choose the betting market | click on the odds you want to bet on | Finally, click on the button to confirm and that’s it |
|---|---|---|
Future bet, prop bet, points spread, or any other market you want. After choosing your market, click on it. The site will show the odds available. | The site will then open up your betting slip. Fill your betting slip with the amount you want to wager. The site will show your potential return. | You’ve successfully placed your bet! Now you can just sit back and wait for the result. |
Pros vs Cons
🔷 Pros:
🔹 Have Fun: Whether you are doing it professionally or simply as a hobby, betting is about adding even more excitement to sports.
🔹 Profit: These two aren’t mutually exclusive. You can bet for fun and still make a hefty profit.
🔶 Cons:
🔸 Risk vs. Reward: There are no guarantees in betting. Even a heavily-favored team is still susceptible to suffering an upset.
🔸 Losing Control of Your Bankroll: Trying to chase losses in betting is never a good idea. You can easily lose track of your spending and end up digging an even bigger hole.
Summary
Placing bets is very simple and straightforward. Sooner than later, it will become second nature to you, as well as figuring out the best odds and betting markets for each game and tournament.
Getting started always seems daunting at first, but once you get the hang of it, you will find out how fun and rewarding betting can get. Again, understanding how odds and betting markets work is a good starting point. Only place your first bet once you are absolutely confident.
