Many people believe that sports betting is at its peak, and going by some of the statistics, it’s hard to argue with that notion. People have always been opportunistic and sought ways to make money, and if there’s an element of fun without too much effort in the mix, why wouldn’t they opt for it?
It’s one of the fundamental reasons why sports betting has taken off. Even in Ancient Greece, sports betting was enjoyed, and they would bet on the Olympics and other events. Instead of being there in Athens to bet on their champions, people in the modern era rely on the best sports gambling sites, trying their luck and dropping money on their best teams.
Many veteran bettors are skeptical of the online betting scene, but that can be attributed to their familiarity with the Vegas experience or in-person gambling in general. But industry experts are on board with the idea of online sports betting, considering many of the genre’s advantages. Whether you’re entirely new to sports betting or you’re an experienced professional with some years under your belt looking to start your betting sports journey online, here’s all you need to know:
Why Bet Online?
According to various resources, online gambling skyrocketed during the pandemic. When driving to Vegas or going to the local betting pub wasn’t an option, people had no choice but to check out that betting site online that they’d heard of. Online betting became the only option for people to bet on sports and gamble on casino games and the best bets today.
At the same time, people had exposure to all the great features that are restricted to online betting, along with various elements that were only available through web and mobile betting, such as the scope of live betting. More people became aware of these elements, which has led to a steady user base for these online platforms even after the pandemic has settled down in various parts of the globe for the most part.
Getting Started
Transferring Cash
The first question on anyone’s mind if they’re betting online for the first time is where do they put their cash for the wager? It’s the top question on FAQ lists across many betting sites, and the answer is fairly simple. Betting and gambling websites have their dedicated balance sections where you can keep your money for wagering on sports and casino games. You can wire money into this account using your bank account or various other payment methods.
Different websites have different payment methods. You’d want to opt for a website that offers the payment methods that you trust to be safe. The more options that are accessible for you and provided by that platform, the better. In such a case, you will have the option to mix and match depending on your needs. If one payment method isn’t working or has terms and conditions you’re not fond of, you could use another instead.
How A Wager Works
Two teams, Team A and Team B, will participate in a fixture that you will wager on. The oddsmaker sets the odds for the game, which consist of numbers with a positive or negative symbol that indicates either the winning or losing odds of a team. As a general rule, a positive sign means the team is favored to win the fixture and negative means that the team is the underdog in the game.
While these odds aren’t always set in stone as the truth, they will indicate the public opinion on the game. As a bettor, your goal is to figure out when the opinion is being swayed and bet smartly based on your knowledge. The money that you wager on a particular bet is called the stake, and the money you get in addition to your stake is your total payout.
The Numbers
Many people get scared by the number of numbers on the screen, a plethora of symbols, and jargon that can seem downright terrifying. The truth is, once you break down what means and the implication a particular number has, a realm of possibilities opens up and makes a lot more sense.
The Moneyline
The Moneyline is often the first number that you’ll be taught about, and once you get the hang of it, you’ll start to understand the others shortly. A Moneyline is a three-digit number with a positive or negative sign before it. If the number’s got a plus preceding it, the team that it’s next to is considered the underdog in that fixture. You’ll see a negative sign for the favorite, implying that they’re likely to win.
Take a look at this practical example. For a fixture, you have -200 for FC Barcelona, which means that for $200 that you wager on them, you’ll win $100 if FC Barcelona wins. Betting $20 means you net $10, and that’s how the scheme works. This is known as an odds-on strategy, which will be explained in more detail later on. The opposing team, having +200, for every $100 that you wager on them, you win $200 if they end up winning the fixture.
The Spread
Many people tend to mistake the spread for the Moneyline. Instead of focusing on the eventual outcome of the game, spread betting is about the margin by which a team will win or lose. Here, the number might generally be single or double-digit. Like the Moneyline, the favorites and underdogs are associated with minus and plus, respectively.
Covering the Spread
The favorites have to be successful in the fixture by more points in the spread, and the underdogs have to lose the game by more points, as the spread indicates, covering the spread. People that bet on college football and NFL games will already be aware of this, and considering that they’re some of the most popular markets for sports betting, you should learn about spreads.
They’re considered the most common option for betting in the genre. The spread never stays constant, so it’s important to know how it develops and changes over time.
Totals Betting
Totals betting is another unique market, as it focuses on the game’s outcome concerning both teams’ scores instead of one particular event. Rather than pay attention t who wins, you only associate yourself with the final score combined from both teams. For this example, let’s focus on a high number like 225.
The Pistons and Celtics are engaging in a high-scoring game with a lot on the line, so they are expected to try to go above and beyond. In such a case, it’s likely that 225 will be crossed, so that’ll be the right wager. On the contrary, if it’s a defensive game and both teams are playing it safe, you’ll bet under it, knowing that less than 225 will be scored in that particular fixture.
Parlay
A parlay is when you make more than a single bet to accumulate multiple wagers, each being correct for it to be a successful parlay. It’s natural for a bettor to bet on more than one game on one particular aspect in a parlay. If you get even one bet wrong, you lose the whole parlay. Parlays are considered high risk; high reward odds, but people enjoy them for that aspect as well.
What You Can and Can’t Do
Depending on the platform that you’re using, you might notice variable conditions for the parlay. You can’t predict the spread AND the Moneyline of a single game. Instead, you’re focusing on the spread of game A, the Moneyline of game B, or game B’s spread as well. Parlays generally have variable payout rates and don’t operate the same way as other options do. But here, you can make the most money if your predictions work out.
What do The Smart Bettors do?
Beating Out the Public
You don’t need to be a genius to figure out whom the public is rooting for. If social media or the pundits don’t spell it out for you, just look at any game’s betting odds. If you notice any major deviations, you’ll know who the public’s money is on. In most cases, this is crowd mentality and the people can’t be blamed for focusing on the basic facts and rooting for the crowd favorite. In betting terminology, the crowd is called the square or while the house and professional bettors are called sharps.
Sharps look for any opportunity to fade (bet against the public). Sharps tend to have a better analysis of the game than the average Joe, which allows them to hand pick certain games where there might be an upset, and going against the public could help them make more money. For example, a team might have a game against a weaker team but struggle with team politics or excessive traveling, likely losing out. Betting for the home team is also a common strategy for fading the public.
Money Management Strategies
Now that you’re aware of how some of the fundamentals of a wager operate along with some examples of how you’ll be betting in real life, it’s necessary to get your money management right. Considering you’re dealing with limited resources in a genre where it’s easy to lose out on everything, you’d want to be proactive in your money management. Here’s how you can achieve that:
Fixed Stake
The common approach for betting in sports is the fixed staking strategy. People tend to calculate their bankroll in units. Here’s how units operate for each stake. Essentially, you place the same number of units on the bet each time that you opt for a bet with fixed stakes. A practical example would be ten bets across two sessions, where you spend only five units of the total bankroll on every bet. No more, no less.
This strategy is excellent for keeping track of your finances, and many people still opt for it.
Profits with Fixed Stakes
Odds (In Decimals) X Stake = Winnings
Here are some typical situations that you’ll observe when you’re opting for fixed stakes.
1. Odds-On
An odds-on stake is when you opt for the favorites. Essentially, you’re winning less than your original stake. While it’s not the most profitable, it’s safe and can be the right option if the odds are too skewed for the team with the upper hand.
2. Odds-Even
These odds are more favorable, and you have a chance of making slightly more than the odds-on wager.
3. Odds-Against
When it comes to monetary value, these are the best options. You’re generally playing against the public opinion, with odds like 5/1. You can make a solid profit with these wagers, but they require you to take on a great deal of risk.
Variable Stake
Having a fixed stake is excellent for keeping a conscious track of how your bets are working. But it’s a lower-risk, lower-reward strategy. When you don’t scale up your bets, you won’t end up winning anymore. In some cases, you have a lot of evidence that suggests it’s better to go deeper for a bigger cut but fixed stakes prevent you from capitalizing on that potential. That’s where variable stakes come in.
Here, you’re more inclined on calculating the value in bets. If you feel that a particular wage has a lot more value, you should wager appropriately on that bet.
Which One Should You Go With?
The truth is that there are pros and cons to each of them. It depends on your style of gambling. Considering your play style might be different, one approach might be better than the others. Fixed stakes are easier to track but don’t net you the big profits that one comes to expect from sports betting, while variable stakes take a bit more research and help you accumulate more profit if you call the right shot.
Many bettors will recommend that you mix and match both strategies to figure out which one works better for you and stick with them.
Finding the Right Betting Site
With your hard-earned money on the line, you will likely pour through every article and ESPN report on the game to ensure you make the right call. Similarly, you want to always use a website that’s got positive reviews from the community and has a good user experience that you can rely on. While there are many online websites for sports betting, and you can also find numerous review portals to help you stay informed, there are equally high volumes of fraud and scams.
It’s recommended that people don’t experiment with any new and untested platform unless you’re aware of what they’re getting into. Similarly, you shouldn’t opt for a site that lacks the basics like a license from a reliable entity. No amount of research and the right strategy for betting is worth it if you’re investing it on a platform that won’t give you your winnings.
Some Essentials to Be Aware Of
If you’re looking to make money online, it’s necessary that you follow all the rules to ensure that you get your dues. Accounts that tend to rake in cash are also monitored closely, so you don’t want to end up on the bad side of the oddsmaker:
- In most countries of the world, you need to be 18 to participate in online sports betting.
- You can start betting once the oddsmaker platform confirms that they’ve received the funds and they’re in your account.
- The money you use for betting should be yours alone. Taking out loans or third-party funding on most betting platforms is discouraged and prohibited. It’s done to promote responsible gambling.
- All accounts are private, secure, and confidential. If the platform collects any data regarding the user, it’s all within the Privacy Policy and Terms and Conditions.
- Various platforms are fairly strict about their cash withdrawal policy. They will investigate thoroughly to ensure that the account owner is withdrawing cash.
- Be aware that sportsbooks have the right to block any activity within their domain if they believe that you’ve taken on any illicit approach. The platforms reserve the right to do so without offering any explanation.
- Before you make any wagers, you’re advised to thoroughly go over your decisions. If you change your mind, you will not get your money back.
- You can’t make a wager that’s larger than the total cash in your account at the given time.
The Advantages for People Betting Online
Bet from Anywhere
One of the biggest advantages of online betting is that you can bet from anywhere. You don’t have to head to a gambling den or a casino to engage in betting. You have the Vegas experience from the comfort of your home. Mobile betting is legal in many parts of the world, so you can engage in online gambling when you’re on the go.
Online betting has made the industry more accessible to various countries that don’t have local support for casinos and gambling in their area. They can use betting sites online.
Payment Options
Most brick-and-mortar sports betting places need you to deal in cash, which can mean a lot of problems. You could always drop the cash or have it stolen, possibly in crowded places where multiple bettors and gamblers could be out for the money. Online gambling sends money through your bank accounts into a safe, reliable trading account. The best part is that many of these transaction methods are extremely fast, making the process easy for anyone looking to bet regularly and aggressively.
Select Multiple Games
Bettors are always recommended to pick from a multitude of options but not get too carried away. With online sports betting, you have people from all over the globe engaging, which gives the platform an incentive to offer mainstream and niche options to the public. You have dedicated betting sites for tennis, football, cricket, and more. You’ve got the freedom to go wild, and these sites generally act as casinos online so you can gamble with other players or play fun digital games and still make money.
Conclusion
Online betting is a great way to get started in sports betting, especially if you want to make some money. They offer a variety of features and options that regular betting doesn’t have on the table. The number of options only sweetens the deal, and the market is more accessible than ever. Bettors in countries with legal sports betting have options for sports betting site reviews to begin their betting journey. Make sure you choose a safe, tried, and tested platform that professionals recommend.
How Betting Sites Ranking Helps
For those in search of a curated database with reviews for the world’s top betting sites offering options for numerous sports betting legal countries, Betting Sites Ranking will be your guide to all the options. Begin your betting journey with the top 10 betting sites in the world, choices in abundance for picks and parlays for college football, football match predictions, and much more. The site also focuses on a variety of exclusive promotions, such as the 1xbet official website, letting users take advantage of our 1xbet registration link to benefit in the long run.
