Sports betting is a wonderful way to make sports more interesting, but it can be perplexing and difficult to understand how to wager on sports. Don’t worry, though; our sports betting for dummies tutorial will walk you through the basics of sports betting and get you started as a bettor!
How to read sports betting odds
In this case, the probability or chance of one outcome compared to the other is indicated by betting odds. Odds are most often presented in a numerical or fractional format, although there are alternative methods.
Everything is based on 100 bets in numerical form. -125 or +125 are two examples: the negative numbers suggest that they are the favorites, whereas the positive numbers imply that they are underdogs. When the odds read -125, it means you must risk $ 125 to win $100; when the odds read +125, you will be risking
In fractional form, you’ll encounter something like 1/3 or 3/1. The lower number on top (1/3) indicates that the team is expected to win by three times more than they are to lose. The higher number on top (3/1) suggests that the team is three times more likely to lose than win.
Types of sports betting
There are many different types of sports bets that you can make. In this tutorial, we will go over the most common types of sports bets and help you understand how to place each type of bet.
What does moneyline mean?
When you make a moneyline bet, you are betting on one team to win the game. The moneyline odds show how likely it is that the team will win. So, for example, if the Atlanta Braves are -165 favorites to win, that means you have to risk $165 in order to win $100. But if you bet on the Miami Marlins, who are +140 underdogs to win, then you would win $140 by risking $100.
How spread betting works
When you bet on the spread, you’re betting that the favorite or underdog will cover the points spread. The point spread is the number of points sportsbooks believe the favorite to better than the underdog.
So, for example, if you bet $100 on the favorite (Las Vegas Raiders) to cover the spread at -9.5, they would need to win by 10 points or more to win your bet. If you bet $100 on the underdog (Philadelphia Eagles) to cover the spread at +9.5, they can win, draw or lose by less than 10 points and you would still win your bet.
How to bet on over/under
Over/under betting, or totals betting, is based on the number of points, goals, or runs that will be scored in a game. The bettor bets on whether the total will be over or under a certain number. If the total is 43.5 points and 44 or more points are scored, the over bet is successful. If 43 or fewer points are scored, the under bet is successful. If the total is 50 points and exactly 50 points are scored, the bet is a push and the bettor gets their original investment back.
Points betting for dummies
Points betting is a new and innovative way of betting on sports. In points betting, the bettor is rewarded for how right they are. For instance, let’s say you’re betting on basketball where the Brooklyn Nets and New York Knicks are playing. If you bet $10 on the Nets and they win by seven points, you will have won $40 because they covered the spread by four points.
How to bet on futures
When wagering on futures, there are a variety of options to choose from. The most popular futures bets are on teams to win championships. Other options include betting on teams to win a specific conference or division, betting on teams to reach a certain number of wins or betting on players to win individual accolades.
Futures bets generally require a larger wager than other types of bets, but they also offer the potential for a much higher payout. When placing a futures bet, it is important to do your research and choose a bet that you feel confident in.
With careful consideration and research, betting on futures can be a fun and profitable way to enjoy your favorite sports.
How to parlay bet
A parlay bet is a type of wager that combines multiple bets into one. If all the bets in the parlay are successful, then the payout is higher than if each bet were placed separately. However, if any of the individual bets fail, then the entire parlay fails and the bettor loses money. Parlay betting is often used in sports betting, but can be applied to other types of gambling as well. For example, a parlay bet could be placed on the outcomes of multiple horse races or casino games.
Parlay betting can be a risky proposition, but can also lead to large payouts if all the bets in the parlay win. Because of this, it is important for bettors to carefully consider the individual bets that are being placed in a parlay.
In general, parlay bets are more likely to lose than to win. However, the potential payouts from a successful parlay bet can be much higher than the payouts from individual bets. For this reason, parlay betting can be an attractive option for risk-tolerant bettors who are looking for the chance to win big.
When placing a parlay bet, it is important to remember that all of the bets in the parlay must be successful in order for the bet to win. This means that choosing safe bets with a high likelihood of winning is often more important than choosing bets with high payouts.
What is a teaser bet?
A teaser bet is a type of bet in which the point-spreads and totals are adjusted to lower the bettor’s risk. In a teaser bet, if any of the teams or totals you picked lose, the bet is still considered a loss. However, teaser bets offer a more favorable point spread and total, making it less risky for the bettor. The drawback to teaser bets is that they typically require a larger wager in order to win, and if the teaser bet loses, it can be a significant financial loss.
How to bet on props
A prop bet is a type of wager that is based on a proposition, or a novel event that will not affect the outcome of the game. Examples of prop bets include asking whether Todd Gurley will rush for more or less than 1.5 touchdowns, or whether Tom Brady will throw for more or less than 315.5 yards.
In-game/live sports betting for Dummies
In-game or live sports betting is the ability to place wagers on sporting events as they are taking place. This can be a more exciting option for some bettors, as they can see how the action is unfolding and make decisions accordingly. There are a few things to keep in mind when betting on live sports:
- The lines may change as the game goes on, so be sure to check them regularly.
- You may not have as much time to make your bet, so be quick!
- Pay attention to how the teams are performing and make adjustments to your bets accordingly.
Bet responsibly
When gambling, it is important to bet responsibly and stay in control. This means betting what you can afford to lose and not chasing losses. Gambling should be fun, so always remember to have fun while betting! If you feel like you are losing control, seek help at 800-GAMBLER.
Value bets and how to identify them
One of the most important skills for any sports bettor is the ability to identify value bets. This means finding lines where the sportsbook has miscalculated and offering odds that are too high or too low.
There are a few ways to identify value bets:
- Look for mismatches in team strengths and weaknesses. For example, a team that is strong at home but weak on the road may be a good bet when they are playing away from home.
- Pay attention to how teams perform against each other. Certain matchups may favor one team over the other, giving you an opportunity to bet on the underdog at a value price.
- Keep up with news and injuries. A team that is missing key players may be undervalued by the sportsbook.
- Use computer picks to help you find the best value bets.
By following these tips, you can increase your chances of finding value bets and winning big!
Cash-out sports betting for dummies
When it comes to cashing out sports betting, there are a few things to remember. First, not all sportsbooks offer the cash-out feature, so be sure to check with your book before placing any bets. Second, the size of the payout is determined at the time of cashing out and depends on the likelihood of the bet winning. Finally, cash-out is a way for both bettors and sportsbooks to minimize their losses.
Summary of sports betting for dummies
Now that you’ve read through the basics of our sports betting for dummies guide. You should now understand the main types of sports bets, as well as the idea of value bets and how to bet responsibly.
