Two: The type of bet you want to place
Three: What are the odds being offered?
The places to go to begin sports betting are called Sportsbooks in the United States and Bookmakers in the United Kingdom. People interested in gambling can place bets on baseball, basketball, snooker, hockey, soccer, American football, tennis and many other sports and events. Before betting on anything, you need to understand how it all works. A sportsbook accepts bets on sports. The oddsmaker sets the odds on any particular wager. Click here for a list of the internet's best online sportsbooks.
Betting Based on the Odds
The first step to placing a bit involves choosing the type of bet and how much money you want to risk. This all should depend on the odds offered. Studying the range of odds offered helps you place a bet with a more impressive, and likely, outcome.
In order for any bet to be worth your time, the odds must be in at least a 2-to-1 ratio. Before you lay down your money, also check to see what percentage the sportsbook commission is. You do not want your winnings to all go to someone else.
Common Types of Bets
Straight or Single Bet. The most basic form of betting which allows you to bet on the winner of any sports or other competition.
Point Spread. The gambler can place a bet on the outcome based on a system of creating a balance through points. The favored winner gets a + sign next to its allocated points, and the expected loser gets a – sign. A successful bet is determined by the favored team winning by more than the point spread. Gamblers can also bet on the underdog, who will have to lose by less than the point spread in order to win their bet.
Buy Points. In this type of bet, the person placing it can manipulate the point spread by paying money. It is usually advised to buy points when their is a "hook" in the spread you are interested in. For example, if you were interested in betting on the Baltimore Ravens at home, and the line was "Baltimore -7.5" or "Baltimore -10.5", it would be wise to remove the ".5" by buying it down to Baltimore -7 or Baltimore -10. The reason being is that the numbers "7" and "10" are significant in football betting because they are common margins between final scores. Thus the extra 1/2 point is considered a hook, and bookies make tons of money by placing them on a spread.
The Money Line. This form is the opposite of the point spread bet, and uses a – for the favorite and a + for the underdog. It establishes odds on who will win, but the outcome is determined by the team that just wins the match or game.
Total Bet. A bet on the total points scored during the game or match.
Over / Under Bet. The total number of points scored by both teams in the game determine who will win this bet. The person placing the bet can wager on any number they think will be above or below the points scored.
Parlay of Accumulator. A system of multiple bets based on the point spreads for more than one sporting event. The payoffs can be huge if your teams or players win, but the risks are greater as well. If one outcome is not a win, the entire bet is lost.
Teaser. In this bet, the odds depend on movement of the points spread and the number of games or matches being bet upon. It is similar to the Parlay form of betting mentioned above, in that multiple events are included in the entire bet.
Futures. This is a sports betting method used in the case of championship games, where more than two teams are possible winners.
Buying Half a Point. Much like the Buy Points bet, this involves paying to move the point spread half a point. It is especially useful in games like football where the end score difference is set to a possible 3 or 7 points. The half point can turn a loss or tie into a win.
The majority of sports betters do not try all types of bets. The most popular three are the straight bet, the doubles and the future. These are most simple to understand for casual gambling fans and have a better chance at winning with less risk.
Before you place any bet, it is vital to have the information you need to make an informed choice. Below are some tips to help you place the best bets for big wins.
One: Use your head. Analyze odds and offers intelligently before placing a bet.
Two: Stick to straight bets. They are less complicated and may have a great chance at winning.
Three: Limit your options when it comes to bets. Being a die-hard fan of one team is great, but makes little sense if your goal is to gamble and win. Don't let favoritism dictate your wagers.
Four: Future bets can yield great wins, but are only ideal for people with extensive knowledge of the sport, the teams and the players involved.
Five: Regular, controlled betting can increase your knowledge of the process and improve judgment about which bets are good and which are for suckers.
Six: Don't let gambling become a problem. Do not bet all your winnings right away. Set a limit and a budget and stick to it.
Seven: Know your sportsbook. He should be a member of the Gambling Association, and be well known for quick payouts and contacts. Always read the fine print.
Eight: Keep learning and researching value odds and types of bets. More knowledge can result in great wins.
Nine: When faced with a bet for two equal choices, learn to trust your own judgment. If in doubt, pick the team with the higher risk and higher expectation of winnings.
Ten: Find the sportsbook with the lowest commission for each sport of event you want to bet on. This will undoubtedly be the one he does most of his business around. Feel free to use multiple sportsbooks for multiple bets.
Sports betting can be an exciting and lucrative hobby, but it requires more knowledge and research if you want to increase your chances of winning regularly. Know the type of bets to place and always use a reputable bookmaker if you want to stay on top of the game.