An Informative Guide to Sports Betting for Beginners

Sports has always been one of America’s favorite pastimes. And it’s also been a place where gambling was normal.

Even though sports betting was largely illegal, many people still engaged in the practice. Luckily today, online sports betting is legal in many states. And in many states where it isn’t yet legal, legislation is in the works to help change that.

Are you looking for a new way to enjoy your favorite sports? Then you should be in sports. Our sports betting for beginners guide down below will provide the sports betting tips you need to get started. 

How Sports Betting Works

So how do sports betting platforms work? There are many websites and mobile apps you can download that allow you to place sports bets (as long as you live in a state where it’s legal).

Many of them offer sign-up bonuses for creating and funding a new account. 

Once you are ready to place a bet, you are essentially betting against other people. The app, or the platform you use (known as the bookie), simply facilitates the bet.

The goal of the bookie is to keep their books balanced. That means they need an equal amount of people placing bets on both sides of a sporting event.

If one team is favored to win the match, most people will want to bet on that team. This can create very one-sided bets, which wouldn’t allow winners to receive a payout.

To offset this, bookies create odds. If odds state a team is likely to win, the payout will be lower.

On the other end, those who bet on the underdog will receive a much higher payout if that team were to win.

With the hopes of a larger payout, bettors are incentivized to bet against the odds, creating balanced books. Balanced books ensure whoever is on the winning side of the bet gets the payout promised. 

Sports to Bet On

You can technically bet on any sporting event in the world. But it really comes down to the betting platform you use.

Popular platforms will have access to most events. That will include major American sports, like the NBA, NFL, MLB, and so forth. Baseball betting is often the first step for new American bettors. 

They usually provide access to major international sports as well, like the Premier League, cricket, tennis, and the World Cup. 

While you can bet on nearly any sport, it’s best to choose just one or two sports to focus on. The more you can pay attention to a single sport, the more you can learn the nuances that affect betting odds.

Ultimately, the more focused you are, the higher your chances of success. Sports betting is gambling, but it’s a form of gambling where the more effort you put into it, the more you can skew the odds in your favor. 

Reading Sports Odds

When you get into online sports betting for the first time, one of the first things you’ll notice is a bunch of numbers and fractions. These are betting odds.

These simple numbers tell you most of what you need to know in order to place a bet. They tell you which team is favored to win, and how much your payout will be if that happens.

But there are a few different sports odds you might encounter. Here are the most common.

American Betting Odds

If you’re using an American-based platform or betting on an American sporting event like the NFL, you’ll see odds displayed in the American format. It will look something like this; Tampa Bay Buccanneers +200, Los Angeles Rams -150. 

These odds immediately tell you the favored team, the underdog, and the payout.

The negative number shows the favored team. The positive number is the underdog or the team most people expect to lose. So in this example, the Rams are expected to win.

For the favored team, the number shows you how much you would have to bet in order to win a payout of $100. So in this case, if you bet $150, and the Rams won, you would win a $100 profit.

The number for the underdog shows you how much you will win if you bet $100. So if you bet $100 on the Bucs, and they manage to win, you would win a profit of $200. 

UK Betting Odds

UK betting odds are very common, especially for those who watch soccer. Odds are displayed as fractions, such as Chelsea 1/8 and Tottenham 4/1.

The smaller number in front (in our case, Chelsea), shows them as favorites to win. For every $8 you bet on Chelsea, you would win $1 (low payout).

On the other hand, for every $1 you bet on Tottenham, you would win $4, if they manage to get a win. 

European Betting Odds

If you watch any sporting events around the rest of Europe, you’ll likely see decimal odds, such as Bayern Munich at 0.5 and Borussia Dortmund at 3.0.

These numbers tell you how much you will win based on your wager. So if you bet $100 on Bayern Munich, you would win $50 ($100 x 0.5). If you bet $100 on Dortmund, you would win $300 ($100 x 3.0), if they manage to win. 

What Are Sports Betting Picks?

As a new bettor, you’re going to need all the help you can get. Making successful sports bets is harder than you think. There are countless factors that impact the outcome of a sporting event, and it can be hard for the average fan to follow along.

Betting picks are essentially betting recommendations by experts. They might be experts in analyzing pregame information. As a result, they might be better equipped to actually predict the outcome of an event.

You can find free betting picks on sites like DocSports. There are also many places where you can pay and subscribe to get access to more exclusive betting picks. 

In either case, make sure you only use betting picks if the “expert” has supplied statistics that back up their case. 

Sports Betting for Beginners

Sports betting is a fun way to engage with your favorite sports. It gives you skin in the game and watching each match becomes that much more exciting.

As you get started, keep in mind the sports betting for beginners tips mentioned above, and you’ll do well to start winning some wagers.

Looking for more tips like this? Visit our blog now to keep reading.