Are you looking to try online sports betting but aren’t quite sure how to get started?
Online sports betting can be a great way to make some extra money from the comfort of your home. Plus, there are various games you can play, and it doesn’t take a lot of work to get started. Many people do sports betting on the side as a fun way to compete with their friends.
But, before you get started with online sports betting, there are a few things you need to know. Check out this guide to discover the best online sports betting tips.
1. Learn the Lingo
Before you dive into the world of sports betting, you first need to learn the lingo. Here are some of the most common sports betting terms you need to know:
- Book: This is short for sportsbook or bookmaker, and the term describes an establishment or a person who takes bets from customers
- ATS: This stands for “against the point spread”
- Chalk: A chalk is the favored winner, the opposite of an underdog
- Even Money: This means the odds are 50-50
- Handle: The total amount of money wagered for a sports bet
- Parlay: A wager that involves multiple teams betting
- Point Spread: The number of points the favored team is predicted to win by
- Runner: Someone who makes bets on behalf of another person
While these are the primary sports betting terms you need to know, there are a lot more out there. Of course, as you dive deeper into the world of sports betting, you’ll pick up more terminology.
2. Start Slowly
While you may be excited to dive headfirst into the world of sports betting, it’s important that you pump the brakes a bit and venture into the betting world slowly.
If you dive in headfirst, you’re likely going to lose a lot of money, get frustrated, and then feel like quitting. While you may not make as much money off the bat by taking things slowly, you also won’t lose out on a ton of money.
Plus, taking your time always you to do more research, learn from your mistakes, and solidify your betting strategies.
3. Understand the Different Types of Bets
To become a pro sports gambler, you need to understand the different types of sports bets. Here are the different types of bets:
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A straight bet involves betting on the favorite team or betting on the underdog for a certain number of points. If there’s a point spread, the favorite needs to win the game by a set number of points in order for you to cash in on the bet.
For example, let’s say the Lakers are playing the Golden State Warriors, and the Lakers are the favored team to win. If you guess that the Lakers will win by a 20-point spread, then they need to win by at least 20 points for you to collect your money.
Total Line Bet
Another popular type of bet is a total line bet. With this type of bet, the bookmaker will set a line for the total number of goals, points, or runs that they predict will be scored in a game.
As the person betting, you can choose to bet higher or lower than this number. Betting higher than the line is referred to as backing the over, while betting lower than the line is referred to as backing the under.
In some cases, the bookmaker will set several different lines. In these instances, you have the opportunity to win more money, as the odds of choosing the right place in line is lower.
We mentioned the word parlay in the sports betting terminology section, but it’s important to understand what a parlay bet is as well.
A parlay bet involves grouping together two or more bets into a single bet, also known as a parlay. The betting odds are adjusted based on the total number of picks grouped together. In most cases, they start at a 13 to 5 return in your favor for a two-team parlay.
Money Line Bet
Another common type of online sports bet is a money line bet. This is a very straightforward form of betting, as it involves choosing a team to win outright without worrying about the point spread.
With this type of bet, you can win a lot more money if you pick the underdog team and they win. However, this also means you can lose a lot more money. Because of the straightforward nature of money line bets, most beginners start out with this form of betting until they get used to other types.
A teaser bet is a twist on a parlay bet. With this type of bet, you still group two or more winning teams together into a single bet. But, you can also tweak the point spread in your favor to qualify for a lower payout.
4. Do Your Research
Many people new to sports betting make the mistake of only betting on their favorite teams to win. While it can be fun to bet on your favorite team, it’s not always profitable.
Remember, don’t focus on picking teams you want to win. Instead, focus on picking teams you think are going to win. To figure out which teams have the highest odds of winning, you need to do your research.
Read sports articles and check out sports betting websites like ultimatecapper.com to learn about the teams that are performing well.
Best Online Sports Betting Tips: Time to Place Your Bets!
Now that you know about the best online sports betting tips, it’s time to start placing your bets. With these tips, you’ll hopefully start making money from sports betting!
Be sure to check back in with our blog for more betting-related tips and tricks.