Online sports betting can grow by 40% over the next ten years. It’s an exciting time as states finally legalize sports betting and apps make it easy to place bets on sports.
The world of sports betting might seem foreign if you’re new to betting on sports. Do you want to know how to bet on sports and increase your chances of winning?
Check out these sports betting tips to find out how.
1. Know the Basics
Sports betting can seem a bit confusing to new bettors. It’s not as simple as picking a winner and a loser. There are numbers after the teams and you might not know what they mean.
Here’s the lowdown. The numbers after a team are either the point spread or the money line. The betting site will specify if the bet is a point spread bet or a money line bet.
A money line bet has a number to indicate the favorite and the underdog. You might see a game listed at New York Giants (+200) at Philadelphia Eagles (-150).
In this instance, the Eagles are the favorite (favorites always have a minus sign) and you have to bet $150 to win $100.
The Giants are the underdog. You win $200 if you bet $100 and the Giants win.
A point spread shows the number of points that get added to the underdog’s score. It looks like this: New York Giants (+13) at Philadelphia Eagles (-13).
The Eagles are a 13-point favorite. They have to beat the Giants by more than 13 points in order to win that bet.
2. Don’t Bet the Mortgage
Sports betting is convenient because you can place bets while sitting on your couch. All you need is a smartphone and an internet connection.
That can make sports betting all too easy. The next thing you know, you bet too much money.
Create a budget for sports betting. Deposit funds into your account once a month and don’t top it off for a month.
3. You’re Betting on Probability
This is one of the most valuable sports betting tips you’ll find anywhere. That’s because most people don’t realize what they’re really betting on.
Sports betting is all about predicting the probability of a certain outcome. It doesn’t matter if you’re placing a futures bet or a soccer match outcome.
Keeping that in mind, you can guess the probability of something happening or you can do your research to back up your bet.
How can you research? It depends on the sport. For most sports, a top-down approach works well. This is where you take the team information, such as recent wins or streaks.
See if the game has meaning. In soccer season, teams are either fighting relegation or for a valuable European spot. If the game has a lot of meaning for one team, the final result should favor that team.
You’ll then look at scores and offensive and defensive statistics. Work your way down to player statistics.
Notice the trends and injury reports. The weather might play a significant role as well.
If you’re betting on horse racing, look at the racing program for that track. You’ll find the jockey, trainer, and results from previous races listed.
The race times listed will tell you if a horse opens fast and fades or starts from the back and closes late.
With the data you’ve collected, you’ll be able to understand what the most likely outcome is. It doesn’t guarantee a win, but it does improve your chances.
4. Diversify Your Bets
Do you find yourself betting on a single sport? That’s not a bad strategy to use when you’re just starting out. That allows you to get comfortable with sports betting.
You can diversify your bets by going deeper in your current sport or broadening the sports you bet on.
There are so many more options to bet on sports now. You’re not stuck with betting on football, baseball, and basketball.
You can bet on cricket, horse racing, auto sports like Formula One, golf, MMA, tennis, and rugby.
That gives you more chances to win, but you also learn more about other sports in the process. You can also mix up your bets between futures bets and individual games.
What if you want to stick to one sport? You can go deeper and place sophisticated bets in your sport. In football, you can do a parlay. That’s where you bet on the outcome of several games.
Win all of those games, and you’ll win big. These tend to be high-risk, high-reward bets.
In horse racing, you can do a Pick-5 or Pick-6. This is where you pick the winners of 5 or 6 races at a given track.
5. Compare Sportsbooks for the Best Lines
Did you know that you can shop around for sportsbooks? You might have signed up for an account with a sportsbook long ago. You don’t have to be stuck with that one.
Sportsbooks offer different odds on the same event. You can shop around to see which sportsbook offers the best odds.
Some bettors find it valuable to have accounts with more than one site and place bets on the site with the best odds.
What else should you look for in a sports betting site? Check out the site’s deposit bonus and sign-up offers. FanDuel Sportsbook offers a risk-free bet of up to $1,000 for new accounts.
Read reviews for different sports betting sites. You’ll learn about these offers, what the customer service is like, and find out more about the overall betting experience.
Sports Betting Tips to Win
Betting on sports is a fun way to get more involved in your favorite sports. These sports betting tips walk you through the ways you can place bets and win.
Make sure you have a budget and know the basics. Don’t be afraid to diversify your bets and shop around for the best odds.
You’ll be ready to bet on sports and win. Did you enjoy learning how to bet on sports? You’ll like the other lifestyle and entertainment articles on this site.
Check them out today!