Sports betting is one of the most popular pastime activities for millions of people across the globe. Whether it is at a brick and mortar casino, at a local bookmaker, among friends, or an online sportsbook, USA players have access to unlimited options when it comes to betting on sports online. If you are looking to find out how does sports betting work and how you can place winning bets, then you have come to the right place!
Gambling has been around for many years. You will even find parts in the bible where they talk about people casting lots, a known form of wagering.
However, no person knows exactly what the first wager was placed on sports events, but it’s highly likely that it was made soon after the invention of sports.
Here are some sports betting basics to help you fully understand how sports betting works.
What is Sports Betting?
Sports betting is all about placing bets on the results of an upcoming event or game. Sports bettors can try to predict the outcome and make a guess on what the outcome of the game would be:
Essentially, bettors bet with a bookie. Oddsmakers at different sportsbooks set the odds or lines for the available bets.
The odds typically show the probability of a specific event taking place. Moreover, they also point towards a possible return of those who successfully bet.
Bookmakers offer an extensive range of markets.
From popular sports events like the NBA betting and NFL betting to niche offerings like rugby and cricket, you will find many wagering chances available.
The most important wager usually involves the winning side. Nevertheless, there are many other factors and bets to consider.
The legalization of online sports betting in many states across the United States is one of the factors that can be attributed to the increased popularity of sports betting as a pastime activity attracting millions of players.
Why Bet On Sports?
The answer to this question varies from one person to another.
Some people wager for entertainment purposes only, whereas others bet to make money.
Many online sports bettors have their unique reasons. Therefore, let’s take a look at some of the reasons why people bet on sports:
- Entertainment – Pretty simple, online sports betting is fun. Although events and games can be quite entertaining, adding some money into this equation can improve the fun.
- Earn profit – If you place real money bets on simple bets, and your bets are correct, then you will win some money. However, if your bets are not correct you might also lose. Nevertheless, the chance of earning profits is what keeps many punters coming back to the casino.
- The challenge – Although the idea of choosing losers and winners is simple, continued success betting on sports is not always guaranteed. These are some of the things that keep players coming back to the sportsbook. In essence, sports betting is a challenge that can prove to be so involving.
- Easy to Get Started – In states that have already legalized and licensed online sports betting, getting started is pretty easy. You can register with an online sports betting site and start wagering in seconds.
There are many other reasons why people choose to wager on sports, but the list above only covers the main ones. Sports betting is without a doubt an entertaining pastime that can be quite fascinating. Moreover, the interest level only grows more as more states legalize it.
Sports Betting 101 – How Does Sports Betting Work?
How does sports betting work? This is a question that we have been asked by many beginners. If you are ready to get started, following is a brief explanation of what next.
Beginning a new trend can be overwhelming initially, but many a times you will find it not to be so challenging if you start working on it. This is without a doubt true when it comes to sports betting.
Like with many other situations, the best thing you can do is to start with the basics and start from there.
Is Sports Betting Legal?
Back in May 2018, the Supreme Court of the United States focuses on the long running case that questioned the legality of the federal ban on online sports betting. The court ruled that it was a matter that the states have to decide for themselves. Most of them have done exactly that and most of the states have thriving legal online sports betting industries.
Benefits of Online Sports Betting
Since many states in the US have legalized online sports betting, sports betting has become very popular in these states. It’s unbelievable how sports betting has been able to generate additional tax revenue. Moreover, new jobs have and continue being added to every market.
How to Get Started on Sports Betting?
How does sports betting work? This is a commonly asked question. Getting started on sports betting has never been this easy. There are many sports betting sites that serve the legal markets and register for the account with them. Once you have found a legal sports betting site, you can safely deposit or withdraw funds from your account.
Mechanics of How does Sports Betting work
The best thing about online sports betting is that you can get started at your own pace. You can easily keep it pretty simple and stick to the fundamentals or dive in with the hopes of improving your betting skills. This is all up to you and there is nothing wrong with that approach. It’s all about what works better for you.
Understanding the Odds
Understanding the odds of the sports you want to bet on is one of the most important things that you must do. Read on to find betting odds explained to make it easier for you to bet on sports. Overall, odds let you know the potential return and implied probabilities for successful bets.
For all the categories, there is much more that you need to understand to move forward. As you continue betting on sports, you can explore various topics like betting odds explained, betting lines, how to win at sports betting, parlay odds, and more.
Sports Betting Apps
If you are looking to place real money bets while on the go, then you should opt for the best sports betting apps. The best betting sites offer players a fully responsive app that can be easily downloaded on various mobile devices and works perfectly on iOS, Android, tablets and any other device.
Sports Betting Explained – How Does Sports Betting Work?
Wondering what are the best types of sports wagers? Check out Flytonic’s guide to online sports betting that covers everything you need to know about terms and topics. Understanding sports betting entails learning about the different types of wagers, including parlays, prop bets, teaser bets, and everything you need to know about the most common sports betting terms.
Parlay – What is a parlay bet?
A parlay can be defined as a single bet linking 2 or more wagers. A bettor must win all the bets in the parlay to win the wager. Incase a player losses a single bet, then he loses the entire wager. Nevertheless, if a bettor wins all the bets in the player, the bettor then wins a higher payout than if they had separately placed the wagers.
What is a straight bet?
This is a single bet on an event or game that is determined by a Moneyline or pointspread.
The futures wager is a bet placed on an event that is essential in the future, like the team that wins next year’s professional football championship games or the pro hockey championship games.
Propositions – Prop Bets
The proposition bet or the “prop bets” largely focuses on the results of events in a specific game. Props are usually offered on marquee games. These include Monday and Sunday night pro football matches, different popular college football games, championship games, playoff, and major college bowl games. A good example of a proposition bet is the team that would score the 1st touchdown.
A teaser is a type of basketball or football wager where the pointspread is changed by extra points in the bettor’s favor on multiple games. When it comes to football, players might move the pointspread 6,6,5,7, 10, or even 14 points. When it comes to basketball, 4, 4.5 and 5-point online sports betting teasers are available.
Round Robin Bet
The round-robin is an array of parlays. For instance, a 3 team round robin comprises 3, 2 team parlays (A+B, B+C, and A+C).
Highly popular sports wagers are largely dependent on the point spread. A point spread usually represents a point margin where the favored team has to win by to ‘cover the spread.’ a bet on the point spread is offered at 11 – 10 odds, for instance, a punter has to wager $11 to win US$10 for a $21 total payout or place a $110 wager to win $100.
Money Line Bet
A money line represents the odds of a particular team winning the match without using the pointspread. Technically speaking, the Moneyline is usually outlined as a 3-digit number. For instance, -150 means the player should wager $150 for each $100 they win. And $15 for each $10.
Glossary of Sports Betting Terms
Following is a list of the most common sports betting terms you will come across:
Action – A sports bet of any type, a wager.
Book – A brand that accepts wagers on the results of sports events
Buy – The bettor pays an extra price to receive something in the punters favor on the pointspread match
Chalk – A favorite
Dime – A $1,000 bet
Dog – The team that is perceived to be more likely to lose, also known as the underdog.
Favorite – The team that is more favored to win.
Future – The odds are posted in advance on the winner of a sporting event including the Pro Baseball Championship, pro basketball championship, and the pro football championship.
Juice – The bookie commission, usually the 11 to 10 sports bettors lay on the straight pointspread bets, also commonly known as the “vigorish.”
Price/laying the points – bet on the favorite by surrendering points
Line – This is the pointspread or current odds on a specific event
Longshot – a team that is considered not likely to win
Nickel – A $500 online sports wager
No action – A bet where no money is won or lost and the original bet refunded
Off the board – A match where no wagers are being accepted
Parlay – This is a single wager than links multiple bets, to win the bet; the player has to win all the wagers. Incase a bettor loses one bet, the bettor loses the entire bet. Nevertheless, incase a player wins all the bets in the parlay, the bettor wins the highest payout than if they had placed the wagers separately.
Point spread – This is the point’s margin that a favored team should win by to “cover the spread.”
Price – The pointspread or odds
Prop bet – This is a wager that largely focuses on the results of a sports event in a certain game. Props are commonly provided with marquee games of great fascination. These include Monday and Sunday night pro football games such as major college bowl games, championship games, playoffs, and high-ranking college football games.
Push – When a game ends without any loser or winner for betting purposes, a tie for betting purposes.
Round Robin – An array of parlays
Sides – two teams play, the favorite and the underdog
Sportsbook – A real-life location that accepts wagers
Straight bet – A single bet on an event or a game that will be determined by a Moneyline or pointspread
Straight up – Winning an event without considering the Moneyline bet or pointspread
Teaser – This is a kind of parlay where the total of every individual play or pointspread is changed. The price of adjusting the pointspread, known as teasing is low payout odds on the winning bets.
We created this comprehensive guide about how does sports betting work to help you make a complete transition from a novice to a professional sports bettor. With a proper understanding of sports betting and how it works, it is easier for you to place real money bets on your favorite games or sports events without any worries.
It’s also important to ensure you understand how sportsbooks make money and how you can take advantage of the available free bets bonuses. This will help you take full advantage of the no deposit free bets bonus offered by the sportsbook for a chance to win without spending your money.
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Overall, keep in mind that sports betting is all about having fun and the best way to profit from betting on sports is to ensure you are enjoying the time you spent betting. Don’t forget to bet responsibly!