Learning how to bet on sports may seem easy as selecting a bookmaker, offer, putting your stake and then seeing your profits.
But…Easier said than done!
Don’t believe me? Keep reading, and I’ll tell you how to bet on sports and what it actually takes to profit from a sports bet.
How to Bet on Sports
We all know that betting is done to make money from your stake. However, it actually involves risk, learning, patience, and experience until you can finally profit from your bets.
You might be lucky to hit a home run in your first stake but to increase the odds of winning every time, you need to learn and implement proper strategies.
Also, it must be noted that sports betting is different from traditional gambling. That’s something which involves very high risk, whereas, in sports bet, you learn through the odds and increase your chances of winning in the game.
Basics of Betting Odds
You should focus on betting on point spreads. This way, you’ll balance out the odds of each team winning.
You might have heard people talking about betting odds like +4, -3.5, etc.
Let us say, Chicago Bears (+5) and Green Bay Packers (-5) are playing each other on a particular day, let us say, Monday. Suppose that Bears have less chance to win, so we simply add 5 points to their final score.
Now for the Bay Packers to win, they must beat Bears by at least 6 points for the individuals who are betting them to win.
However, if Packers beat Bears by 5 points or less, in this case, individuals betting on Packers have to cover the spread will lose money.
In simple, your betting team must cover the spread of underperforming. Moreover, if your team wind up meeting the spread, then there is no winning and losing.
How to Place A Bet on Money Spread?
No brainer…You simply bet on the team which you believe would win the game. Let us say that Chicago Cubs and Pittsburgh are playing and you highly believe that Chicago Cubs would win, so you place a bet on them.
A smart stake would be to understand the point spread of the game. This is something you’ll find with your bookmaker. For example, the Chicago Cubs have a very large point spread, say -5. This means, their chances of winning are very high.
On the other hand, if the point spread is like -0.5 and +0.5, it means that there would be a 50/50 matchup.
• If you see that point spread is way too high like -7.5, you should place your money down on the point spread
• If point spread is even like -1 and +1, opt for money spread
Bet Money Down on Totals
The word totals here mean over/under. Your bookmaker will give you a number like 9, 5, 10, 175, etc. It represents the total number of points scored by both the teams and you are to place the bet based on whether or not the teams combined score will go below or above that number.
So far we’ve seen the point spread, money spread, and totals. The decimal odds are also important in sports bet and is usually represented as positive numbers or negative numbers.
Let say the next to New England Patriots point spread is -8.5 with a decimal figure of 2.789 and you bet like 0.2 bitcoins on Patriots point spread. Simply multiply the stake (0.2 btc) with the decimal figure and this is the amount you will win if the bet is correct.
In this case 0.2 * 2.789= 0.5578 and less the initial stake.
Betting on Sports
Now that you have understood the sports betting odds and other rules, the next thing to do is betting on sports, and you can do this by searching for various sportsbook online. This is a platform where you go, sign up, find games and then place bets.
While there are some spam websites as well and you should be alert all the time, some like Bovada or Bet365 are top performing.
Simply Google “online sportsbook” and the first ones are the most reliable. A good way to spot a fake sportsbook site is the one which has overrun ads and is begging you for money. Bounce back from such websites.
Learning About The Sportsbook
Once you have signed up for a reliable sportsbook platform, the next thing to do is learn about it in detail. Get familiar with its interface and go through the about and terms and conditions section on the site. Don’t scroll them down like software agreements; they have some real value inside.
Some websites require putting money up front, in that case, it should be clearly mentioned (the amount). Also, this money is usually refundable and is based on a specific eligibility criterion.
Go through the minimum withdrawal and deposit limits.
Finally, scan the FAQs section of the website.
Choosing A Bookie
Whether in US or UK, you can find numerous local bookies. When choosing a bookie, you should check out his reviews and see how many people are using him already. If there is a huge number of endorsements, he is safe and trustworthy.
Also, choosing a bookie must be done carefully, especially if you are living in an area where sports gambling is illegal. Ensure that your bookie pays you on time and always start with small amounts so you can trust his abilities.
Earning & Learning
Finally, once you get into the sports betting, you should earn and learn. You may not win always. There will be setbacks, and you should learn from them. Study what went wrong and how you can improve it the next time.
Also, bet the amount which you can afford to lose. Don’t go crazy and bet an insane number and go broke full time.
Make connections with some big gamblers who already have the experience.
I hope this guide was helpful.
This post is also available in: English