Sportsbet: Where Winning Happens – Over the past four years, sports betting has emerged from the shadows and into the mainstream. An anti-gambling stigma that had existed for decades quickly disappeared from American popular culture, opening the door to the rise of a large, multi-billion dollar legal sports betting industry.
With sports betting now legal in many states, millions of sports fans are looking to enter the betting market for the first time.
Sportsbet: Where Winning Happens
Here’s an introduction to how to bet on sports with 12 things every beginner should know.
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When oddsmakers issue betting lines on a game, the first thing they do is decide which team should be the favorite and which should be the underdog.
The favorite is the team that is most likely to win the match and will have a minus sign next to its odds. The underdog is expected to lose and receive a positive signal.
There are two main ways to bet on a favorite or an underdog. The first is the point spread, which is a bet on the margin of victory.
The Eagles are a -4.5 favorite over the Lions in Week 1. That means anyone betting on Philadelphia needs the Eagles to win by 5 or more points. Anyone betting on Detroit needs the Lions to go 1-4 or win the game.
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Point spreads are adjusted for team ability and many other factors. That’s why the Colts are 8-point favorites on the road against the lowly Texans, while the Eagles are the underdogs on the road against the Lions.
A second way to bet on a favorite or underdog is on the money line. A money line bet only requires you to pick the winner of the game, and uses American odds to calculate the payout.
So if you bet a -200 favorite, you have to bet $200 to win $100, or any fraction of that – $20 to win $10, $2 to win $1, etc.
If you bet less than +200, you will win 2 times your money for every dollar you spend – $100 to win $200, $10 to win $20, $1 to win $2, etc.
Bet To Risk Vs Bet To Win
Back to Colts-Texans. Oddsmakers believe Indianapolis is a much stronger team. So just to bet on the Colts to win the game, you have to bet a significant amount.
Colts are -375 – meaning you have to bet $375 to win $100 or $37.50 to win $10.
Texans are +300. If you bet $100, you will win $300. Or if you bet $5, you will win $15.
Money lines are available for all types of sports, but are mainly used when betting on undervalued sports such as baseball, hockey and football.
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In addition to placing lines for favorites and underdogs, oddsmakers will also place the total points scored by the two teams in the game together. This is called total or over/under.
Bettors can then bet on whether or not the game will go over or under the total. You are not trying to guess the exact score (although that bet is also available).
With most bets, you may see two numbers – a spread like -4.5, and then the odds below that, like -110.
If you bet $11 to win $10 and the Colts win 14, you win $10. If the Colts win by 3, you lose $11.
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But for something like the MLB spread, where the line is always -1.5 for the favorite and +1.5 for the underdog, the odds will vary based on the difference in ability between the two teams.
Each team will be aligned with their corresponding lines. So in that video, USC was down 14 points against Alabama. To bet USC, click on the cell by its name.
More than half of the US states have some form of legalized betting, but only about 20 have full online betting. Others only have personal betting at casinos, racetracks and other venues.
Here are the NBA Championship Futures Odds offered by BetMGM Sportsbook: Updated June 2, 2023 – Odds provided by BetMGM – Subject to change
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Ultimately, you have the final say on how much risk to take in the game, but a good rule of thumb is to only risk what you can afford to lose. Sports betting is a marathon, not a sprint. There will be good and bad days. Consequently, we recommend the flat betting method.
This means betting the same amount on each game and only risking 1% to 5% of your bankroll per game (the bankroll is the initial amount you have to bet). For example, if you start with a bankroll of $100, you should not risk more than $5 per game.
By using the flat betting method, bettors protect themselves from losing their entire bankroll during bad periods, but also position themselves for a positive return on investment (ROI) when they are good.
A parlay is a type of bet where two or more bets are combined together to make one bet with a higher payout, but all bets must win.
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So instead of betting $10 each on three games, you can make one $10 bet that will pay out the higher of the three winning teams. But if even one is missed, you lose your $10.
Even more popular than traditional parlays involving multiple games is the single game parlay, pioneered by FanDual and now offered by nearly every sportsbook.
This feature allows you to parlay multiple bets from the same match with the correlation of each pricing event. This means that if you bet on Rams-Bengals and Matthew Stafford with 2.5 passing touchdowns at 51, you will not receive the full parlay payout, because those events are more likely to occur together.
Props – short for proposal bets – can be any bet that is not a standard point spread, money line or total.
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Here, Scherzer’s strikeout total against the Reds is set at 7.5. But according to FanDuel lines, it’s more likely to go under than not, so you pay a higher price to bet under than over.
US sportsbooks offer hundreds of props on each game, creating a huge attacking surface because they can’t charge a fair price for all of them. Even if you don’t create your own statistical models, tracking specific props and how their value is perceived can help give you an edge at sportsbooks.
Lines may vary depending on the sports book, as different books have different customers. As a result, one book might post the Cavs -8 while another has -7.5.
Having access to more than one sportsbook allows you to shop for the best line. Getting an extra half point may seem like a big deal, but it adds up in the long run and increases your chances of winning.
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This isn’t monopoly money, so you want to make sure you’re tracking your progress. The easiest way to do that is with our award-winning (and free!) app, which has amazing features like Odds Live Bet Insurance and Odds Shopping, allowing you to track all your bets on almost every game.
And this is valuable because you can identify where your strengths and weaknesses lie when you start betting. Are you more successful betting on the NFL or the NBA? Do you thrive on taking player props or over/unders? These are all good things to know, and can allow you to maximize your returns.
This website contains commercial content. We may receive compensation for links provided on this page. The content of this page is for informational purposes only. The Action Network makes no representation or warranty as to the accuracy of the information provided or the results of any game or event.File This Nov. 20, 2018 file photo shows a scrolling video board with basketball scores reflected on the ceiling of a new sports book. Resorts Casino in Atlantic City, NJ The race is on to legalize sports betting now that the US Supreme Court has allowed it in all 50 states, but will it provide enough additional tax revenue to make much of a difference to school, road or pension debt? (AP Photo/Wayne Perry)
Seven US states now offer legal sports gambling, and more than 30 will consider jumping on board in 2019. So here are some of the basics of sports betting—as well as some of the more arcane aspects.
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The biggest difference between placing a legal sports bet with a casino or racetrack or their online affiliates and placing with an illegal bookmaker or “bookie” is that with legal betting you have to place your money first. Illegal bookies will let you bet on credit, the most lucrative aspect of their illegal business and hopefully allow them to continue to operate, and perhaps even thrive, in the brave new world of sports betting.
Say you want to legally bet $25 on a football game. You must give $25 to the window clerk and receive a ticket confirming your bet. In most cases, if you win, you’ll get your original share of the $25 plus your winnings, which won’t exactly equal another $25 because…
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