How to Bet on Sports – The Basics
Sports betting has emerged from the shadows of illegal gambling to become a multibillion-dollar industry. It has also changed the way Americans view and watch sports. The anti-gambling stigma that once surrounded it has faded, and millions of fans are now considering entering the market for the first time. But how do you start? This How to Bet On Sports guide will walk you through the basics of this new and exciting world.
The Basics
Sports wagering involves predicting that something will happen during a game or event and then risking money on the chances that it will. Sportsbooks set odds on these occurrences based on their probability of occurring, which allows you to place a bet on the side you believe will win. The higher the probability, the lower the risk, and the larger the reward.
In a game of football, for example, the odds on a team winning are often determined by how many points it will win by and how wide the margin will be. This is called the “point spread.” The favorite will be listed with a minus sign in front of its odds, while the underdog will have a plus sign. If the point spread is equal, it’s a push, and most sportsbooks will refund all bets on pushes (though some will count them as losses).
The second type of bet you can place is a totals bet. This is a bet on the combined score of both teams. The Over/Under number is calculated by adding the total number of points scored in the game and then subtracting the sum of each team’s individual scores. If the total is exactly what was predicted, it’s a push. If the total is more than what was predicted, it’s a loss. The Over/Under bets are typically offered in increments of a half point to avoid ties.
There are a lot of different strategies that can be used in sports betting, but there’s no one-size-fits-all solution. The best approach depends on your knowledge of the sport and how much time you have to spend studying it. You’ll also need to be willing to take some risks and accept losses from time to time.
If you’re serious about making money from sports betting, it’s important to treat it like a business. This means setting aside a bankroll and creating unit sizes that you can consistently bet with. It’s also important to know your limits and never bet more than you can afford to lose. A good rule of thumb is to bet 1-2% of your total bankroll on each play, which will allow you to weather a bad run without going broke. It’s also a good idea to bet only when you have positive Expected Value, or EV, on your plays. This will help ensure that your long-term profits outweigh your short-term losses. EV betting isn’t a get-rich-quick scheme, and it takes a lot of work to make a living from it.