How to Win at Sports Betting

Not everyone has the same approach to sports betting. Most people are just casually in the niche, looking for entertainment more than anything else.

What is Sports Betting?

How to Win at Sports Betting. Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels. Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as horse racing, greyhound racing, and illegal, underground cockfighting. It is not uncommon for sports betting websites to offer wagers for entertainment events such as the Grammy Awards, the Oscars, and the Emmy Awards.

History of Sports Betting

The first record of sports betting dates back more than 2,000 years ago. The Greeks’ love of sports led them to introduce the Olympics to the world as well as the earliest records of betting on athletic competitions.

From the Greeks, sports betting spread to ancient Rome where it was eventually accepted even legalized. In particular, Romans bet on the gladiator games, and even when this ancient sporting event eventually came to a stop, gambling survived and continued to spread to other kingdoms.

During medieval times, some religious leaders tried to make laws forbidding it. This forced sports betting underground, where it continued to exist and even grow as new sporting events were introduced to the world.

Later in history, gambling became very popular in England in the form of horse race betting. The English spread the practice to the rest of the world, particularly the US, where it quickly became a favorite pastime for many people.

Overall, gambling has continued to grow worldwide and is very popular today, especially throughout Europe which has become the biggest sports betting market.

Online Sports Betting

No other single factor has increased the growth of sports betting more than the advent of the internet. Before the internet, sports betting, though popular, was nowhere near as widespread as it is today. With the internet, people could place bets anytime from anywhere, on any device. As a result, sports betting has exploded ever since and continue to grow year after year.

No longer was there a need to visit a bookmaker to place your bets, or even attend the sporting events yourself in order to enjoy sports betting. From the comfort of your couch, you can now place bets as you watch the events live on your television.

With online betting, you can also see the betting lines change and this means you can find the best betting opportunities as the event unfolds, especially when betting on live sporting events.

Its now possible to bet on practically any event in the world. And why stop with sporting events? You can also bet on politics, entertainment shows, movie box office opening weekend numbers, eSports and much more.

Understanding of Sports Betting

One of the first revelations anyone new to sports betting has is that you can bet on a lot more than the winner of a game. This typically engages a rush of excitement quickly followed by an even bigger rush of confusion. New bettors are excited at how expansive their new landscape is, but then quickly realize that they have no idea what they are doing. This usually results in new bettors running from the book with their tails between their legs because they’re lost and not sure how to proceed.

Thankfully, we’re here to help untuck your tail, clear up the confusion, and send you back to the sportsbook radiating with confidence. Whether you’re brand new to betting or just someone looking for a refresher course, you’re in good hands. We’re going to take the time to walk you through every type of sports bet that is available to you. We’ll tell you how the bets work, tips and strategies you need to know for each, and how you can utilize them in your sports betting strategy.

We’ll then walk you through some additional need-to-know tips and strategies to help you utilize this new information properly. Ideally, when you get done with this guide, you’ll have full command of the different types of sports bets at your disposal. You’ll know how they work, the advantages and disadvantages of each, and most importantly when and how to use each type.

Types of Sports Betting

When most people first get started in sports betting, they usually think it’s only about picking the winner of a game. Most of them don’t realize that that is only a small portion of the betting options you have. Nowadays, thanks to the growth of the industry, you can bet on pretty much any aspect of a game or sport that is measurable. This betting flexibility is not only awesome from an entertainment standpoint, but it provides a lot of great opportunities for you to make more money with all of your predictions.

To help get you started, we’ve compiled a list below of all of the types of sports bets that you need to know. Take the time to read through each of these guides and make sure you fully understand each bet type that is available to you. Whether you choose to use all of these or not, it’s important to know what exists in case you run into some knowledge that can make you some money with a bet type you don’t normally make.

Straight Bets

Most sports fans are probably familiar with the most basic bet in sports, the straight bet. It is also the most common wager placed by sports bettors especially when it comes to sports such as football and basketball. A betting line is set, which is often referred to as a point spread, and you can either bet on the favorite and give-up the points or place a bet on the underdog and get the points. The favorite has to win the game by more than the set point spread in order to cash-in. The underdog has to win outright or lose by less than the point spread to “cover” and win the bet. Ties in this situation are known as a “push” and no money is lost or won.

Total Line Bets

The second-most popular bet in many sports is on the total line. In this type of sports bet, a number is set for the combined final score of both teams and you then bet on the actual score staying “under” that total or going “over” the set number. Often times you can bet on a total line by each half of a game when it comes to football and in basketball.

Money Line Bets

A money line bet is a straight-forward way to place a bet for a match. For this type of bet, you’ll be predicting on which team will be winning without a point spread. This is commonly placed for sports events like baseball and hockey matches. You can also easily notice or see the difference between the amount of the minimum bet you’re allowed to place for the favorites and the underdogs. This way, you can easily see how risky your bet could be.

Parlay Bets

This is also called as an accumulator, combo, or a multi bet. This is a single bet that links two or more individual wagers and the chances of you winning will depend on all those wagers winning together or as a whole. This means that if any of your bets lose, you lose the entire thing. Bookies would usually need you to have 10 to 12 picks for this and again, all these picks should be perfect for you to win. It’s kind of like having to win the lottery with a combination of numbers.

With this, placing parlay bets can be very risky. However, this is also a great way to earn high rewards or bigger amounts of money. This is something you should do if you’re feeling very sure about your predictions and you’re after big profits from betting.

Exchange betting

This is a relatively new type of betting introduced in sports betting. This type of betting is practiced by many people these days. This type of betting is similar to traditional sports betting. The odds are set at the time of wagering. But the main thing to note here is that it doesn’t involve any bookmaker. In other words, all wagers are placed between bettors. This means you are gambling with other players.

Head-to-Head Bets

This is typically offered on competitions with just two competitors and what you do here is to predict which competitor will be finishing the race or tournament first. Basically, you have to pick a winner and if that team or athlete wins, you also win. It’s a very direct and upfront type of bet. There are times that money lines are included in each competitor for the bookies to place a handicap on the match.

Teaser Bets

Also called as a two-team teaser, a teaser bet allows you to combine your bets on two different matches. For this, you can adjust the point spreads for the two games. This is basically a twist on parlay bets as you’re grouping two picks together for a single bet. This may not be a type of bet that everyone is comfortable with because it is really hard to hit.

These are the different types of bets that you can place for different sports events. When looking for the right bookie, you should also consider whether you’ll be able to place the type of bet that you are aiming for as each bookie would offer different odds and types of bets.

Handicap Betting

A handicap bet is a form of wager that tries to level the playing field, much like in golf. In handicap betting, the odds account for the difference in perceived strength of each opponent.

Now that you know the different types of bets, you’re ready to take the plunge and start winning some money!

Live betting

Live betting is a type of fixed-odds betting. It has its own set of rules that needs to be followed. In this type of betting, you can place a wager any time during the game. Although this is a new betting type, it is already very popular. You should be informed that this type of betting is only available online.

Live betting is offered by many of the gambling sites. The good thing is that they cover a large variety of sports. In live betting, you can find many types of wagers, but the odds changes as the game progress. One advantage of live betting is that you can place your bet after analyzing how the game is progressing. This makes it a bit easier for you to decide on your wagers.

Sports betting is a vast world. It not only involves a wide variety of ports, but also different types of betting. These are a few of the most common types of betting that is practiced by most players.

Play at The Online Casino Sports
Play at The Online Casino Sports

Sports Betting Odds

Sports betting odds are designed to, at a glance, give readers an idea of how likely it is that each team/competitor will win as well as how much money you could make with a successful bet on that outcome. In other words, you can use them to get a quick idea of the underdog and the favorite.

To decide what odds they offer, bookmakers look at a range of factors. This might include everything from what other sportsbooks are offering through to the results of previous matchups. They’ll adjust those odds in real time, based on factors like injuries and the weather, as well as the amount of money staked by bettors on each outcome.

How to Read The Odds

Understanding betting odds is key to enjoying the experience of betting online and essential to learn before you start placing a bet online. We’ll go through the various kinds of gambling odds new players might see as they flick through the various online providers, detailing how to understand betting odds, the pillars of how sports betting works and fully prepare our readers for the start of their betting journey!

Readers often ask “how do vegas odds work?” Sports odds, whether you’re in a land-based casino or reading your favorite online sportsbook. Understanding sports betting is integral for beginners and here we will provide a comprehensive understanding of all that encompasses betting odds.

We understand what it’s like for new bettors, who are intimidated by the new interface and the various options available to them, wondering “how do odds work in football?” and “how to spot value in sportsbook odds.”Well, fortunately, we have a broad range of guides available, offering guidance on betting 101 essentials, such as single bets, multiple-bets, as well as a great glossary of sports betting terms.

The first thing is to decide which oddsmaker you want to play, once you’ve established that you can start understanding sport betting principles!

Reading Different Types of Odds

Depending on which country your sportsbook operates out of, the odds will be listed in one of three different formats: decimal, American, or fractional. However, whatever the default format, you will always have the option to switch the odds to your preferred format. The place to change the format is usually in a scroll-down box at the top of the screen.

Decimal odds

Of all the options, this one is the easiest to calculate your potential payout. Simply multiply your risk against the decimal number. That indicates how much your return will be if the bet wins. So, if you risk $100 on an event that offers 1.50 odds, you will get £150 in total (100 x 1.5). That £150 is comprised of your initial £100 stake and £50 in winnings. Needless to say, the larger the number, the bigger the potential payout.

American odds

Also known as moneyline odds, this format puts every bet relative to £100. If an outcome has a negative number (e.g. -125), that’s how much money you have to bet to win £100 (e.g. a wager of £125). If the number is positive, that’s how much a bet of £100 will pay out. E.g. a £100 bet on odds of +250 carries potential winnings of £250.

Fraction odds

Fractional odds don’t operate like fractions, they’re ratios. A team that is listed at 1/2 odds doesn’t have a 50-percent chance at winning. It is really a 66-percent chance. The best way to look at fractional odds is that the number on the right is the amount you wager, and the number on the left is what that stake will payout in winnings. So for those 1/2 odds, every £2 you wager will win you £1. And for 7/2 odds, every £1 wagered would payout £3.5.

The favorite is always the team with the smaller number. The underdog is the team with longer odds and therefore a greater payout.

How Do You Figure Out Which Team Has Positive Expected Value?

Most successful sports bettors use extremely complex prediction models to calculate how often certain events should occur – in this instance, how often The Patriots would beat The Ravens if they played multiple times.

These models generally input thousands of data points, everything from recent team and player performance to the weather to the track record of referees/umpires. If you want to get into the technical side of things, a great place to start is learning what is a unit in sports betting. It’s arduous work, and it’s why the world is not filled with millions of professional sports bettors.

Five key betting principles you need to remember :

  • Remember the end goal
  • Know your competition
  • It’s not always about winning
  • Look after your money

Tips and Strategies of Sports Betting

When it comes to how to bet on sports, everyone has their own opinion on which is the best sports strategy to use. How to bet effectively is down to individual preferences and what betting methods they choose to employ.

Whatever gambling strategies are used, bettors should always make sure they research the sport they’re betting on and stay conscious of their bankroll to ensure they’re playing within their own means.

Well-informed players are always going to be more fruitful in gambling. Taking calculated risks is the name of the game, sticking to a smart betting strategy will pay off in the end.

Why do People Use Betting Strategies?

From the poker tables to the racebook, wherever the bettors play they’ll need to be backed by sports betting stats and gambling strategies. No betting strategy is perfect, but players must tailor one to suit their preferences.

Find a strategy and stick to it. Turning a profit is what all bettors look for, consistency in all aspects of betting will help to achieve this. Giving yourself the best opportunity to win, even with the slightest of edges, is always the key. Incremental betting, managing bankroll and having the knowledge to back your estimations are all common among successful bettors.

Sporadically betting on your gut instinct is unlikely to bring the big payouts, although it’s not to be dismissed – there is a time and place for this kind of betting. True sports fans will recognize the fact sports can turn in a second, so be smart.

Fixed Wager Betting

Fixed wager betting is very popular and commonly used among players of all levels, even those learning from the basics. A straightforward approach that requires bettors to wager the same amount regardless of whether they win or lose.

Using this method minimizes the chance of blowing a bettors bankroll. It also means bettors won’t win big on single bets, as usually, this method uses smaller stakes (but not always).

Fixed wagers are quite restrictive, but they offer another level of security when betting. For casuals, this equates to laying down small bets, £5-10, on any bets they want.

Low Percentage Bankroll

Low percentage bankroll involves a bettor wagering a low percentage of their bankroll in relation to the odds. Often considered a poor betting strategy among sports bet expert opinions, yet it can be quite effective. Bettors may place 1-2% of their bankroll, which will yield a low amount.

However, the conservative nature of the betting allows for bettors to play without being conscious of depleting funds. Sports betting 101 knowledge says that betting is about peaks and troughs. Managing these highs and lows with a solid sports betting strategy will prevent disaster for players.

All In Betting

Many readers will recognise this term “all in,” simply meaning betting one’s’ entire betting budget in one go. This betting rate is far too high and any sharps giving out betting advice will tell you this is best avoided.

Sometimes when there’s a good multiple bet and it feels like an opportunity to bet big, this can work. But, not an all in bet. Running out of funds all in one moment never feels good and leaves you with nothing else to play with that day.

Strategy Based on Winning Streaks

This is a great strategy that we’ve had plenty of success with over the years. While we use a pretty advanced version of it, a simpler form of it can also be effective. What makes this strategy different than other strategies is that it’s based entirely on form and momentum. These are two important betting factors that can be very useful indicators of future performances.

At a basic level, this strategy involves looking for teams and players that are on lengthy winning streaks. If a team or player is on a lengthy winning streak, then we back them to win their next game. The theory is that they’ll probably win due to being in good form and having momentum.

We can use this strategy in reverse too, and look for teams and players that are on lengthy losing steaks. We then back their OPPONENTS to win in the next game, with the expectation that the losing streak will continue.

In our experience, this strategy is effective even at a very basic level. Obviously there are times when a streak comes to an end unexpectedly, so it doesn’t work ALL the time. Overall, though, betting on streaks to continue can definitely be profitable.

It can be even more profitable when combined with the basic value betting strategy we discussed earlier. This means not automatically betting on a streak to continue, but assessing each situation independently. You only bet after you’ve identified value.

To do this effectively, it helps if you know how to properly analyze the impact of form and momentum in sports. This is something we discuss in the following article.

Top Sports Betting Tips From a Professional

Here are ten sports betting tips from a professional sports bettor:

  • Have Correct Expectations
  • Don’t Show up Late to Class
  • Use Proper Bank Roll Management
  • Know Your Key Numbers
  • Know Your Expected Values
  • Have a System
  • Don’t Get Sucked Into Stupid Plays With Bad EVs
  • Is it Okay to Buy a Half Point
  • Timing is Everything
  • Remember to Have Fun
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