As major league sporting events slowly make their way back to the living rooms, an increasing number of first-timers and amateurs are being introduced to sports betting. And as the United States Federal and Regional governments continue legalizing the industry, the market is slowly but surely expanding.
Sports betting can be an exhilarating experience and when done right can help make a quick buck. However, successful gambles need patience and due diligence to crack the code, something inexperienced gamblers are unfamiliar with. If you think you’ve got the basics covered, here are five tips to point you in the right direction.
Learn the Basic Jargon
Once you’re sure you want to continue with sports betting make it a point to learn the lingo. For instance, if you don’t know what draw no bets mean, you shouldn’t expect to benefit from them.
Every sportsbook will use a particular set of words while accepting bets. It’s easy for amateurs to lose track, be overwhelmed, and quit even before putting down their first bet. Like most things in the gambling industry, jargons too begin to make sense after a little practice and research.
Understanding Point Spread
Betting on a point spread is the most common sports wager. Simply put, sportsbooks allow a spread during each game, and betting on the worse team offers better odds if they win. There are favorites and underdogs in every sport and they are denoted by a (-) and (+) symbol respectively.
Calculating the Odds on the Points Spread
Once you get a clear picture of the points spread, it’s time to decide which side you’re on. Most books will set the spread at a point favoring the house. Located right next to the spread are the betting odds. While the odds are generally placed at -110, certain variables must also be taken into account. The point spread can also change every day, depending on the circumstances.
Wagering on Moneylines
Another popular betting strategy sports gamblers use is the Moneyline. As the odds on the point spread, a Moneyline is the direct outcome of the matchup as opposed to the spread. But, unlike the spread, the odds on a Moneyline can vary dramatically depending on the odds of the matchup. For example, if Team A is the underdog valued at (+350) and you wager $100 on their win, you’ll earn $350 for a favorable outcome.
Wagering on over/under in a close match is one of the most exciting forms of sports betting. Over/under is simply the total number of points the books project both teams to score at the end of the day. Most sportsbooks don’t stop at the number of points scored and go on to predict the touchdowns, three-pointers scored by an individual, and more to up the ante. If you wager on a whole number and the teams hit it perfectly, it’s called a push and the sportsbook returns your wager.