Do You Know Everything About Sports Betting?
Sports betting is easily one of the biggest and oldest forms of gambling with some of the bettors on sports noting that something that started out as a fun pass time activity is now a source of their livelihood. People have been betting on outcomes of sporting events for centuries. This means that even with the changes in the gambling scene, the basic concept of betting on sports remains the same – you put your money on a predicted outcome and you when the prediction is accurate. You lose if your prediction is incorrect.
So, does this mean that you should venture into sports betting? Should the allure of the sport be your source of motivation? In online gaming, the house always has the winning hand, and you are certain they have to gain as much as you lose. And, the house edge is not all you have to worry about. Numerous factors determine your winning and losing chances.
In this article, we’ll reveal all there is to know about sports betting. Betting on sports and winning has little to do with luck, and whether you are new to the game or not, understanding the betting process when it comes to sports is crucial. At Betting Eagle you will always find the most comprehensive guide and most of the information shared will be beneficial to rookies and the experienced betters.
Note, however, that this article will not turn you into an overnight success and you will still win some and lose some.
Why bet on sports?
Before we look at how and other details in sports betting, it makes sense to look at why you’d want to venture into betting on sports.
The top reasons include
- It’s simple to learn: at first glance, those digits are intimidating, but once you understand what they mean, the betting process is very straightforward.
- It’s fun: if you’d ask a serious bettor why they bet or why they started, they will always point to the fun bit of the game. You will get hooked in testing your sports knowledge against a bookmaker.
- There’s money: first, we do not encourage you to get into gambling full time or to spend all your savings on an uncertain situation. All we are saying is that when you know what you are doing, you can make pretty good sums of money while betting.
- Placing bets is easy: the online gambling sites have made it easier, now more than ever, for you to place your sports bets. All you have to do is to log into your account on your smartphone, computer or tablet, and start betting.
- In play and live betting: the latest best trend in sports betting is inplay betting or live betting. The technology now allows you to make super fast decisions and bet on the outcome of the match or certain events in the game you are watching.
Looks like a shiny stone waiting to be picked? Well, not so much, and you shouldn’t rush into it. Even with these potential benefits, you should know this:
- You will lose money
- The bookmakers are skilled, and the house always has an edge.
Sports Betting Mechanics
Never bet on a sport, regardless of your love for the game, before you study the mechanism of the game.
Note: in its simplest form, betting involves placing a wage on an outcome of a specific sporting event. You win if you are right or lose. But, assuming that this is all you need to win is simply burying your head in the sand.
There are three essential components to every sports game: Selection, Stake, and the Odds.
Selection: This is where you choose what you will bet on or your expected outcome. Note that the selections you make represent the different types of bets you make.
Stake: A stake is an amount you bet on a game. If you place $10, your stake is $10. What about high stakes? The term high stakes refers to the people who bet a lot of money on a sporting event. So, high is their level of betting while stakes represents the amount bet. Note that some sportsbooks impose a minimum stake, others will impose a minimum stake.
Odds: An odds is the likelihood that something will happen. The odds determine how the sportsbooks pay bettors for the won wagers. This means that if the likelihood of something happening is low, the sportsbook will pay more if you win and vice versa.
In both casinos and online sportbooks, odds are written as a decimal, fraction or in the form of a moneyline (how the odds are favored). An example of a fractional odd would be 10/1 and the moneyline odd +1 000. Moneyline odds are the favoured on the US betting market.
Confused? Well, what this means is that in a perfect vacuum, you’ll lose a bet 10 times before winning. When this happens, you are a huge underdog – you’ll lose the bet a lot more times than you will win. But, should you win, you will be paid a lot more.
These are the most common types of bets, and a straight bet is also called a side bet because you pick the winning team in advance. The selection of such a bet will be your predicted winner. In this case, the payout and odds are dependent on the sporting event you are betting on.
No Point Spreads
When betting on sports like boxing, baseball, and UFC, there are no obvious spreads. A point spread is the number of points the sportsbook thinks a team will win by. So, it doesn’t apply to sports like UFC and boxing where bettors only care about the winner or baseball where you bet on the winning team.
In sports like basketball, point spreads apply. The sportsbooks will figure out the number of points they anticipate a team will win by. The prediction is depicted by +/- sign and also a point total. It’s also called the spread. For underdogs, a plus sign is applied, and for favorite teams, a minus sign is applied. In this case, an underdog could lose a game, but you can still win a bet as long as the underdogs lose by less than expected.
How to Place a Bet
To place a bet, you need first to make a selection and choose your stake.
You can place your bet in different ways including:
- Telephone betting services – make a call to a bookmaker and tell them you wager details
- Bookmaking shops
- Casino sports books
- Online bookmakers, which is the new biggest thing in the US
Principle of bookmaking
The bookmaker will take money when they lay bet on customers, and they pay money out when customers win. The bookmaker cannot control a sport’s outcome, but they can control how much they stand to lose on a specific result.
Main types of bets
- Moneyline or win bets
- Totals and Under/ Over bets
- Handicap and Point Spread betting
- Outright and Futures bets
- Parlays and Accumulators
- Permutation betting
- Reverse and If bets
- Teasers and Pleasers
Top Tips for Beginners
- Don’t be in a rush
- Learn all the basics of the betting process before you put in big money
- Bet with a realistic goal in mind
- Don’t bet when inebriated
- Have a bankroll management plan and maintain proper records
- Only bet on a sport you understand
- Keep your disciplined
- Bet on a trustworthy and secure site. For this information, research widely.
- Don’t chase your losses
Tips on sports betting
Sports betting can be exciting as it can become quite a source of extra funds for you but how well do you know sports betting? Even as a veteran or as a beginner, here are tips on sport betting that possess the abilities to help your game become even better.
Gambling has its risks- risks that could make you want to give up totally on the whole idea, but have you ever wondered why those who do not give up seem to win? They understand the method, they get the movement, and they win.
The idea of sports betting is a lot of sense and a dash of luck and there you have it, a guaranteed success. To get through your online betting, here are few tips you need to know.
Some betting tips
- Have knowledge on the sport: It is pointless to bet on football when you know nothing about it. See games, read about the games, follow up on news and transfer updates, it might be that the highest goal scorer for a team was sold out, and you unknowingly placed a bet on that team to win, and they lost, so you lose. Failing at betting is most times due to a gross lack of knowledge. It will help you to have information of the sport you are about to put your money into.
- Try out different bookmarkers: it is okay to want to be loyal to one bookmarker, but often there will arise different bookmarkers with better deals, and well, betting is not barbing, you do not have to stay loyal to one bookmarker, if you see a better deal, go for it. Sportsbooks have news on different bookmarkers with new awesome deals that should be mouthwatering enough to pull you closer.
- Less is more: This is a basic betting rule people fail to pay attention to because they always want more. Do not make a long list of selections always keep it few. It is easier to have one game ruining 46 good games, than it is to have one game ruining 10.
Sport betting is as invigorating as it is risky, it can also make you a millionaire in few hours, but just like everything else, there is a ‘know how’ situation with sport betting. One you need to pay good attention and und
Sports Betting Conclusion
Understanding all the elements of sports betting is the secret to winning and enjoying the game. Your knowledge is your power! You have big chances on winning on the online US sports betting market. But you need to understand what you are doing. There are many people living of being professional sports bettors, but we at Betting Eagle always recommend people to play for fun and never for money that you cannot lose. However, if you apply the strategies we share at our site, you will increase your chances of winning while betting on sports.