Sports Betting Basics

Betting on sports can add excitement to your day. Taking some time to research and make a wager gives you a real stake in the game. And it makes every bad call or mistake by the players that much gut wrenching.

Know what to Bet:
Sports betting includes a fair amount of vocabulary which you will learn over time. But of most importance are the common bet types. There are side wagers where you bet on one of two teams directly competing. There are total wagers where you bet on a certain score to be reached (adding the teams score together). There are also future wagers which involve more than two competitors – for example, “Who will win the Superbowl” or “Who will win the US Open.”

Reading the Line – Spreads and Moneylines:
There are two components to a spread betting side wager, the spread and the moneyline. The spread is subtracted from the favorite or added to the underdog to determine the final outcome of the bet. The moneyline indicates how much the bet pays. If the moneyline is negative, you must wager the value to win $100. If it is positive, you win the value if you bet $100. For example, you want to try your hand at football betting. The NY Giants are 3 point favorites over Philadelphia Eagles. The moneyline for both teams is -110. You bet on the Eagles who lost 21-20. However, the Eagles were getting 3 points, so the score becomes 21-23. The sportsbook considers the Eagles a winner. You bet $100 on the game. But to win $100, you would have to bet $110. So the $100 bet pays out 100/110 = $90.91, plus your $100 stake back. Had you bet on the Giants, you would have lost your $100. It sounds complicated, but it becomes much clearer after just a few wagers.

Try Future Wagering:
When you bet a future, realize your stake will not be available until the bet settles. For example, if you bet on the Superbowl winner in August, that money will not be available for betting during all of football season. But, since these wagers involve more than two competitors the odds can provide for a big payday, especially if you correctly identify a dark horse early in the season. Some sports, like golf, rely almost exclusively on the future lines to bet on a tournament champion.

How to Get Started:
Getting started is easy. Find a sportsbook that works for you. That can take some research. None offer everything so be honest with yourself. Do you want the best line prices? The best new deposit bonus? Tournaments? Availability of poker, casino,
and a racebook? Once you have your account setup, only bet one or two games per day. Stick to teams you know well and only make small wagers, say $10-$25. Once you are comfortable, establish your strategy, bankroll, and conditions for making bets.

Have realistic expectations:
Even the best handicappers only win about 60% of their bets – and even they go through losing streaks. Never bet a huge amount of your bankroll on any one bet – nothing is a sure thing. Never chase a string of losses – take a break from betting if you are mired
in a slump. Keep an eye on what expert handicappers are saying – they can give you an alternative viewpoint. You can always make pretend wagers to get your confidence back. Remember to have fun – treat your gambling funds as a recreational expense.

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