Anybody can become an intelligent sports bettor if they have the correct information. That’s why we created this review about Sports Betting 101 which is an educational series aimed at beginner bettors.
Become familiar with the different types of sports bets you can make, how to interpret odds, and how to manage your bankroll to maximize your returns.
We’ll explain some of the more obscure phrases you’ll encounter as you get started, and we’ll give you some advice on what to keep in mind when placing a sports bet over the internet.
Table of Contents
How To Pick a Good Online Sportsbook
All of the legal mobile sports betting applications and websites available provide a wide variety of sports and betting options to users. Furthermore, bookmakers offer a variety of welcome incentives and different betting markets. In order to entice new customers, several bookmakers provide free bets, matched deposits, or a combination of both.
Ever wondered “do all sportsbooks have promo codes”, we ask ourselves that question all the time. The answer is possible. You should investigate each sportsbook and select the ones that offer you the bonuses, promo codes, and betting markets you desire.
Beware of the Location
Online sports betting is legal in a number of jurisdictions, but in order to place a wager, a bettor must be physically situated within the state’s borders. Geolocation technology is used by all licensed online sportsbooks to verify a user’s location when they attempt to place a bet.
To be able to place a wager at Caesars Michigan, you must be physically present in the state of Michigan. It’s possible that geolocation services could mistakenly determine that you’re outside of a state if you’re near one. Relocating farther onshore generally resolves the problem.
Creating a Brand-New Online Account
Creating an account with an online sportsbook normally only takes a few minutes. A valid email address is required, along with your first and last name, social security number, and last four digits.
Once the sportsbook verifies your personal information, you can make your initial deposit and begin placing bets.
Putting Down Your First Down Payment
Navigate to the “Cashier” or “Add Funds” tab, which is normally located at the top right of the lobby at most online sportsbooks, after signing up for a new account. Deposits can be made using ACH/eCheck, credit/debit card, PayPal, and Play+, all of which can be found under this heading.
Before you can make your initial deposit, you may be required to upload a digital copy of your driver’s license or state ID. Deposits are instantly credited to players’ accounts when they make their initial deposit.
ACH/eCheck and credit/debit card deposits can be rejected by the issuing bank at times. In general, PayPal and Play+ are 100 percent reliable.
Placing Bets Through A Sportsbook Website
When it comes to online sportsbooks, you’ll find a wide variety of sports to wager on. To see all of the sports available at DraftKings Sportsbook, for example, click on the “A-Z Sports” option on the left-hand side of the main lobby.
Click on the sport you’d want to wager on, and all of the betting options will be displayed. In order to place a bet, all you have to do is click on a line.
Next, the bet sheet will urge you to enter your wager amount and display the potential payment for winning. To submit your wager to the sportsbook, click “Confirm” (or a similar button) after entering your stake amount.
Every sportsbook has these basic bets:
- Futures Bets
- Straight Bets
- Parlay Bet
- Prop Bets
To be a great sports bettor, you need to know how to place these types of wagers, which is easier said than done.
Straight bets are the fundamentals of sports betting and are the most common type of bet. Betting on a single game is all there is to it. Among them:
Seasonal outcomes are the focus of these high-risk, high-reward betting on the future. The list goes on and on, from champions to award recipients. A future bet on the Packers to win the Super Bowl would be considered a gamble. A bet on Aaron Rogers winning the NFL’s Most Valuable Player award would also be interesting. Even with advanced statistical models, it is difficult to precisely predict the outcome of a bet. However, the benefits for bettors who correctly place their bets are enormous. Because of this, high-risk gamblers who have a strong opinion on a particular topic may be tempted to this type of wager
Betting on the Patriots’ victory over the Titans, for example, might be done by placing a moneyline wager on the Patriots. It’s a single wager on a single result. This bet would win or lose on its own terms, regardless of any other bets.
Wagers Placed in Combination/ Parlay bets
For a parlay bet to win, all of the bets must be correct. It’s possible to make a parlay bet on both the Broncos and Notre Dame winning their games. In order for the parlay to win, both bets must win. You can’t get credit for part of it. Even though it’s hazardous, it raises the chances of winning and the amount you’ll get paid.
Proposition bets, commonly known as “fun bets,” are also referred to as such. They are bets that have no bearing on the outcome of a game. During the game, they appear at random times. For example, a team that scores a certain number of touchdowns in a given time period could be eligible for a prize. They’re fantastic for gatherings because they’re entertaining and random wagers.
What Is It That Makes A Sports Betting Winner?
Examine your motivations for getting involved in sports gambling and be truthful with yourself. It’s not uncommon for people to fantasize about making a living betting on sports. In all honesty, that’s a difficult putt to sink. At ordinary odds of -110 and a vigorish of 4.76 percent, winning 52.4 percent of your bets is the magic number for a successful sports bettor. A sportsbook’s “vigorish” is the fee it charges to process your wager. Keep in mind that winning 52.4 percent of the time isn’t going to make you rich; you’re simply barely breaking even.
Recreational sports bettors are not uncommon, and you may be one of them. You appreciate the thrill of placing a little or moderate bet on a game. As the old adage goes, you should wager with your mind, not your heart. Players of this category will have a better time with the game.