In our Sports Betting 101 guide we will focus, unlike other websites, on the “meat and potatoes” side of betting on sports, particularly at the online sportsbooks. We have created the guide with one goal in mind – to help you understand the very foundation of spots betting and the things you must know before you even begin your journey into the world of betting on sports. Below you will see what knowledge you must posses in order to even begin betting on sports at the online sportsbooks or any bookmaker for that matter. We have briefly summarized the more important points, but you can (and we highly encourage you to) read more aout that particular subject by following the link to that guide. Here is the sports betting 101:
Know your sport
As all of you already know, sports betting is placing a wager on the outcome of a sporting event. While it’s not mandatory, it’s detrimental to your success as a bettor to have good knowledge of the particular sport(s) you will place wagers on.
If you are the type of bettor that simply wants to place a Super Bowl bet, just because everyone at the office is doing it – you don’t need to know anything at all about sports betting! Simply head to our home page to see which are the best sportsbooks, pick one, call them and tell them you want to bet x amount on one of the teams to win and they will walk you through your bet. If you can dial a phone or use your computer keyboard – you can be that bettor without any knowledge whatsoever.
But if you plan on wagering for a while with the main goal of winning money, then you must know your sport in and out. And we are not talking about being a fan of a team. Billions of people all over the world are fans of a team and know that team in-and-out, but have very little knowledge about the particular league in general, which is not a good thing, unless you plan on betting your team only. If you plan on betting the NFL, for example, you must know enough about all divisions or at least focus on a few of them and keep your wagers within that circle of divisions. So in order to be a good bettor, you must have plenty of knowledge about your sport. Keep that in mind and avoid going blind into sports betting or it will spell doom for your bankroll very soon.
Choose a good sportsbook
Once you have decided which sport you are confident betting on, it’s time to pick a sportsbook. We have reviewed the very best sportsbooks for US players right on our home page and the easiest way is to select one of them. Whether your decision will be based on the signup bonus they offer or the speed of withdrawals, it’s up to you and does not relate to sports betting. The main point here is to not go into it alone, trying to do your own research, etc., because there are tons of rogue online sportsbooks praying on people like that. Leave the reviews to the professionals – our reputation over the years has proved times over that we do not recommend shady sportsbooks.
Learn how the online sportsbooks work
Once you have chosen a sportsbook or before you do that, it’s recommended that you have understanding about how the online sportsbooks work and how they differ from the traditional sportsbooks. There is a procedure for everything with the sportsbooks operating on the internet and we have written about it all in our how the online sportsbooks work guide. Simply follow the link to read all about how things work with the online sportsbooks. This is, in our opinion, an indispensable guide and one that is hard to find on the Internet. For some reason all websites assume that you know how an online sportsbook should work.
Understand the basic sports betting terms and workings
Considering you are new to sports betting, learning the basic terms and working of it will be a must. Here is a list of some of the main terms you will face when you start betting on sports. We are constantly adding new betting guides, so make sure you visit the main section to see if anything new has been added to the list.
Odds – we recommend you follow the link to really understand the betting odds. There are a lot of assumptions made by beginner bettors, since the term “odds” is used in quite the different fashion and caries a bit different meaning at the sportsbooks that what you may be used to. And speaking of odds, make sure you dig deeper to:
Money Line – which is basically the odds the sportsbooks gives you for each team to win outright
Point Spread – we talk about this famous betting option in depth in our point spread guide, you must read it.
Other important parts of sports betting include parlays and straight bets. If you don’t feel like becoming a professional bettor, the above 5 terms are the minimum needed for most people to begin betting and do so with confidence. If, on the other side, you have greater aspirations, head over to our betting guide section to see what else is available for the advanced bettor.
The final point in our Sports Betting 101 guide has to do with your discipline as a bettor and practicing money management to the fullest. Always follow the golden rule of gambling – don’t bet more than you can lose. Set a budget and always stick to it, avoid chasing the losses as this is the main reason why so many bettors end up in hot water. Be patient and cool-headed when you select your bets and you’d be so much closer to being a winner.