When it comes to online gambling, sports betting is one of the most popular things to bet on. To bet on sports, however, you do not need to be an experienced bettor, and you only need to know a few fundamentals to get started. This is your ultimate beginner's guide to all things related to online sports betting which will help you get started.
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In This Guide
It is not a secret that sports betting is one of the most profitable and fastest-growing industries in the world. According to the latest financial reports we were able to find, the global sports betting market was valued at over $83 billion back in 2022 and most expect to see its revenues rising quite significantly in the years to come.
The global sports betting industry has made many punters very rich and this should not come up as a surprise considering all the different sports events and activities punters can bet on daily. The popularity of sports betting compares with drinking beer and sports betting is also a very popular topic at different social gatherings since most are huge sports fans.
If you enjoy watching sports, you should be knowledgeable enough to place bets on them. Knowing the sport, teams, and players is a good starting point for becoming a successful sports bettor. Avid sports betting fans know their teams, they invest time and effort to examine the industry, and they test different sports betting strategies to boost their winning odds.
Unlike some other gambling activities you have at your disposal, sports betting has more to do with knowledge and less with luck and this is yet another factor that adds to the activity's overall popularity. Essentially, the more you know about your favorite sports teams, the luckier you may get and the bigger profits you can collect. Essentially, if you enjoy watching sports, trying your luck at sports betting is definitely something to consider.
As you probably know, the iGaming industry houses hundreds of reputable sports betting sites and bookmakers, so you should not have any issues with finding a good place to get started. The best sports betting sites have competitive betting odds and cover a whole range of sports markets, so the options are limitless.
The best sports betting sites also run regular bonuses and promotions in different forms, such as reload bonuses, cashback offers, odds boosts, and free bet bonuses. With this being said, you can enrich your bankroll by taking advantage of these offers and adding more value to your gaming sessions.
The popularity of sports betting has been on the rise even though sports betting in some or all forms is not legal in all parts of the world. Hence, before you start your sports betting sessions, we advise you to familiarize yourself with the local sports betting laws and regulations. Our beginner’s guide to sports betting provides answers to all questions you may have and covers all the basics related to one of the most popular gambling activities.
Below, we take a look at the most popular sports events you can place real money wagers on at a number of reputable online bookmakers. As briefly discussed at the beginning, all of the most renowned sports betting sites cover a huge variety of sports markets, including:
In the sections that follow, we take a look at different types of bets you can place on your favorite sports and winning odds, so make sure you stay tuned.
In sports betting, betting odds specify the probability of a sports outcome coming true and the potential profits, so examining odds is crucial no matter which sports betting activity you want to engage in. In the sports betting industry, betting odds are generally displayed as European or decimal, British or fractional, or American, depending on what you choose or your chosen online sports betting sites.
While the odds are displayed differently, they are the same thing. In American odds, you will see minus and plus signs. In spread betting, plus American odds refers to the favorite, while minus refers to the underdog and this is the most important thing to remember about American odds.
Decimal or British odds are mostly used by bookmakers catering to sports betting fans in New Zealand, Canada, and Europe. Just by looking at the numbers, you see which teams are favored and which are considered underdogs. Underdogs are always listed with the higher of the two numbers. To calculate your potential return, multiply your stake with the listed decimal odds.
Then, there are European or fractional odds which are widely used in Ireland and the United Kingdom. To calculate your return, you multiply the odds with the stake. A 3/5 favorite has American odds of -167 and decimal odds of 1.6. Now, let’s examine the different types of bets you can place.
There are quite a few different types of sports bets you can place, but the main are:
Engaging in mobile sports betting activities has become increasingly popular and this should not come up as a surprise considering the fact that many sports betting sites have dedicated iOS and Android sports betting apps to accommodate mobile bettors. Speaking of mobile sports betting apps, they have been designed to offer a high-quality sports betting experience on the go to all mobile bettors.
The apps are generally free to download and easy to install and the selection of sports markets is the same as the selection accessible on desktop devices. Mobile bettors can also benefit from generous bonuses and promotions when betting on the go, alongside enjoying all other sports betting perks and benefits as presented to desktop users.
The best sports betting mobile apps work on a wide range of mobile devices that run on Android and iOS operating systems. If you do not want to deal with the hassle of downloading and installing mobile sports betting apps, you can always engage in mobile sports betting sessions directly at the website using your mobile device’s browser.
Below, we cover some of the most popular terms used by sports betting fans and enthusiasts. Learn these and you will be betting like a pro in no time.
Betting wisely is essential, and we believe that these pointers will help you place a more successful wager, regardless of the sport. Here's how you can get more bang for your buck in the long run.
Before you start your real money sports betting journey, make sure you learn the basics. In other words, learn how different betting odds are presented and what they mean. Learn the basic betting options as well.
You also want to set a budget and stick to it. We cannot stress enough the importance of good bankroll management skills.
If you are just starting your online sports betting journey, we recommend you start with simpler bets, such as moneylines, and avoid parlays.
To beginner bettors, we also recommend focusing on one team or sport at a time. In the long run, it is far better to be an expert in one team or sport than to have a decent knowledge about sports in general-
Whichever sport or team you focus on, you want to study its records and statistics. Knowing these things will help you in the long run as well.
As a beginner, you may require some direction to get started. Here's a step-by-step guide to getting started with sports betting:
You want to start by looking into our selection of the top-rated sports betting sites before you choose your gambling operator.
Once you have found a site that aligns with your betting preferences, follow the presented instructions to register for an account.
Next, you need to fund your newly created account to be able to make real money wagers. Choose your preferred deposit option, enter the amount you want to deposit, and confirm your deposit request.
The next step is to examine your site’s betting lobby. Look into all the different sports markets covered and examine betting odds on the sports events you are interested in.
Once you have found an interesting sports event, place your wager and wait for the game to finish.
If you are new to sports betting, it iseasy to get lost, especially if you're not sure what certain terms mean. But do not worry; we have got you covered with all the jargon you need to know. For more complicated sports betting jargon, please see our glossary section.Click Here to Learn More
When betting on sports, the key is to understand a few factors: your sport, the odds, and the type of bet that works for you in terms of how much you can afford to lose. Many betting options can make you feel overwhelmed. Below, we briefly examine the most popular sports bets you can place online and offline.
A flat stake is typically defined as a single bet with a small portion of your budget. Hence, playing flat stakes is usually recommended to beginner bettors.
Parlay Betting involves combining multiple wagers into one and this is why we recommend beginner players to avoid these types of bets at the start of their sports betting journey.
Sure betting, also known as arbitrage, is a strategy that generates guaranteed profits by betting on all possible outcomes of an event. Needless to say, this requires a big budget.
Matched betting is a betting strategy used by individuals to profit from free bets and other incentives provided by sports betting sites.
Spread betting refers to any of several types of wagering on the outcome of an event in which the payout is based on the bet’s accuracy rather than a simple final outcome of the game.
A lay bet is when you bet against an outcome. For example, if you bet Milan to win the Champions League, your lay bet wins if no one else wins, and you lose if Milan wins.
When you bet on the outcome of a sporting event, you are said to be backing that outcome. In most sports, you only have two teams to choose from.
Punters are sports bettors or people who place real money sports wagers.
Bookmakers are places offering sports betting activities. Bookmakers also are called bookies or sportsbooks.
Another type of gambling is sports betting, which involves placing a wager on the outcome of a sporting event. Sports betting has only two outcomes: you either profit based on the bookmaker's odds or you lose your entire wager.
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