|How to Bet On Sports: Sports Bets & Sportsbetting Explained
Joined: 11 Mar 2006
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Learn How Bet on Sports! Sportsbook Bets Explained By Chris Watford for NoLuckNeeded.com
Sportsbook wagering, also known as sports betting, is a fantastic way to make a little bit of extra cash and can even help you connect with your favorite team a little better. Football games are always more exciting when there’s something on the line. But, before you start putting your money on the line, you need to know the basics of sportsbook wagering. More importantly, you need to be sure to stay responsible with gambling! With that said, let’s get to it.
There used to be only one state that has licensed sportsbooks: Nevada. However, there is this little thing called the internet where you can use dozens of online licensed sportsbooks.
Let’s say that you’re kicking back after a long week, sitting on your favorite spot on the couch, beer in hand and the game is almost on. You’ve decided that you KNOW the Colts are going to win, how do you go about putting money on the game?
Step One: Research! Research! Research!
You don’t want to start betting on a game when you have no idea who plays for either team. The most crucial part about sportsbook wagering is making sure you do your research. This goes for all sports: MLB, NBA, NFL, and nearly every sport you can imagine. There are hundreds of tools out there that you can use to see how players or teams performed against certain QB’s, how many 3 pointers a team can make against lock-down defenders, or how well a batter can hit against a left handed pitcher. There’s so many tools out there at your disposal. If you’re going to start wagering with sportsbooks: utilize those tools.
Step Two: Choosing A Sportsbook
This is just as crucial of a step as researching. If you don’t do enough research, you can lose money, and the same thing is true with choosing the right sportsbook. You wouldn’t go to a back alley and give a sketchy guy your money to bet on a game, would you? So, why would you treat sports booking any differently? Ask yourself a few questions before you settle on the first sportsbook you find: is this sportsbook safe? Is this sportsbook licensed in a reputable country? What are the odds? These are the questions you need to ask yourself before you start throwing money at your computer. Compare sportsbooks and sportsbook reviews. Do your research (again). And be smart about it! Once you’ve done all of this you can move on to…
Step Three: Understanding the Terms
Gambling terms can be confusing for a newcomer, so let’s cover those before we go any further. Let’s start with an easy one: the spread. The spread is a simple way of saying how many points a team will win or lose by, and it is indicated by a plus sign (+) or a negative sign (-). In football, a touchdown is worth seven points and if the Colts are expected to win by seven points, the spread would be -7. If you bet on the Colts to win by seven, in sportsbook terms you are wagering that the Colts will “cover” or “beat the spread.” Once again, if the odds are -7 and the Colts win by MORE than 7 points, you win, and if they win by less than 7, you lose. Confusing? Don’t worry, you’ll get the hang of things pretty quickly.
Step Four: Different Types Of Bets
There are many different types of bets that you can place when you’re wagering on sports. Some are a little bit more complicated than others, so let’s go over the different types of bets that you can place on sportsbook sites.
Straight bets are the most simple wager that you can place on any sport; no matter what, straight bets are always an option. Straight bets are simply a wager of which team or person will win. Often times, straight bets might be the only type of wager that you’re able to place. Most notably in single winner sports such as boxing or NASCAR.
Proposition bets (“prop bets”) are a little bit riskier, but they can some of the most profitable wagers that you can place. Prop bets are simply a wager of “what if x team does y during z” (props also apply to single-player sports). Prop bets cover pretty much anything that you can imagine. How many runs will the Cubs score in the 3rd inning? Will Saul Alverez knockout Gennady Golovkin in the third round? These are all prop bets. While they’re much more difficult bets to statistically place, they can be incredibly profitable. Be safe when you’re placing proposition bets!
Moneyline wagers are commonly used in low scoring games such as baseball or hockey. The way that moneyline wagers work is on a plus (+) minus (-) system. For example, if the Blue Jays are -160, you would need to bet $160 to WIN $100. If the Astros are +165 you would bet $100 to win $165. Moneyline wagering is more common in hockey and baseball, meaning you don’t have to try and “cover” the spread like you do in higher scoring sports such as basketball or football.
Sometimes a matchup is too close to call for your liking and you have no clue who will win. This is when an over/under wager comes in handy. To wager using over/under all you have to do is decide if the score will be OVER or UNDER a certain score. For example, if the over/under for the Warriors-Cavs is 210.5, you will often see two examples: 210.5 o -110 and 210.5 u +125. Similar to moneyline wagering, you would wager $110 on the “over” to win $100. To wager for the under, you would bet $100 to win $125. Over/Under can also be used to cover entire seasons! For example, you can bet on the over/under of how many games the Pelicans will win in an entire season.
Now that you know the basics of sportsbook wagering and all of the terms, you’re set! Just remember to do your research and be responsible!