Sports betting is great to earn a little cash if you know what you’re doing. But if you dive in headfirst without thinking, it’s probably going to cost you a pretty penny.
So put aside your fears and apprehensions, and get the knowledge. It’s easier than you think. Keep reading to learn more about sports betting.
Know Your Budget
Sports betting for beginners is daunting and thrilling at the same time, but beginner’s luck will only get you so far.
Before anything else, you need to budget. Betting on live sports makes for an exhilarating rush when your underdog clinches a win at the last moment.
But if you don’t budget, you may spend more than you’d planned. Knowing how much you’re willing to lose is your first step in going from beginner to expert.
Learn the Odds
To win big, you need to understand the odds, the bets, and how they’re set. Then you can read up on pro sports betting tips for insider knowledge.
In any game, there are underdogs and favorites. As the names imply, the favorite is the stronger team expected to win the match, and the underdog is the weaker one.
Odds are set by the oddsmakers and are fluid at all times. They’re calculated with a mix of computer algorithms, extensive experience, and a lot of statistics. Odds are very reliable – otherwise, the oddsmakers would all end up broke.
Develop Your Strategy
There are many ways to bet. First off, you’ll need to understand the types of bets you can place.
Moneylines
These are the simplest bets, based on who wins the game. A favorite has a negative declaration next to it. This is the amount you’ll need to bet in order to win $100.
For instance, if a Moneyline has -300 next to it, you’ll need to bet $300 to win $100. Underdogs have a positive declaration, which means you’ll earn over your bet. Bet $100 on a +200 Moneyline, and you’ll walk away with $200.
Point Spreads
Point Spreads require a number of points to be gotten by the favorite, or for the underdog to lose by a margin, for you to get a payout. For instance, a 5-point favorite bet will need your favorite to win by 5 points or more.
Totals
Totals mean the total number of points scored in the whole game. You can bet whether the total will go “Over” or “Under” the wager.
Check Out Sports Betting Websites
Sports betting websites are great for getting your feet wet. And if you’re looking for a comprehensive list of options, check out Dimers MLS picks and parlays.
What’s great about online sports betting is that most outlets offer sign-up bonuses and free bets for newcomers. You can’t really go wrong, so it pays to shop around and find your preferred platform.
Plus, you don’t need to put on pants.
Give It a Chance
Sports betting isn’t rocket science, even if the odds seem intimidating. It’s a great way to spend an evening with a cold one and a rush of adrenaline. And if you do it right, you might wind up with a tidy sum at the end of the night.
If you enjoyed our article, be sure to check out others in our sports and entertainment categories.