Every year, hundreds of billions of dollars are bet on sports all over the world. Online sports betting is clearly a fun and exciting landscape to be a part of.
For beginners, getting started can be intimidating. Even the very speed at which things appear to be happening can be daunting. For this reason, we’ve compiled a simple guide for getting started – the right way.
Start With Your Favourite Sport
When learning the ropes for the first time, it’s always a good idea to start with your favourite sport(s). Since it’s best to start with a sport you know a thing or two about, starting with your favourite sport makes sense.
Being successful at live betting on sports isn’t only about knowing how to place a bet – you should also have at least a basic understanding of how the sport you’re looking to bet on works.
Understanding The Basics
The attractive thing about betting on sports online is that anybody, no matter where they are in the world, can place a bet on a game or event.
With this in mind, it’s important to gain a good understanding of the basics of betting on sports, which includes the terminology used.
Any bet, no matter the sport, typically involves three parties: the bettor, the betting agent (or bookie), and the team or player you’re wagering on.
Choosing the right bookie is vital. The best platform will offer self-help guides for newcomers as well as a large selection of sports and betting options. When you’re new to online sports betting, success comes a great deal easier when the page you’re on is easy to navigate.
Getting started should never be tedious. All you should need are an email address and a steady internet connection.
Understanding how odds work is important because you’ll be able to determine the possible value of your bet.
Odds are displayed using either a positive or a negative number. For example, when betting $100, a positive number will indicate how much you’ll win should your bet be successful. On the flip side, a negative number will express how much you’ll need to bet to win $100.
To summarise, if you’re betting on odds of +150, you’ll know that a successful bet will award $150 in winnings – this being over and above your initial $100 bet.
Another important aspect to keep in mind about odds, is that different bookmakers will offer different odds on the same event. Understanding that bookies have the ability to determine their own odds is key to knowing how odds work.
For this reason, it is important that you shop around for the best possible odds for the event you’re wanting to place a wager on.
The Best Sport To Bet On
The “best” sport to bet on will always be the sport you’re most familiar with.
For example, if you grew up playing baseball, then the MLB will most likely be the best place to start. The better your understanding of the game, teams, and players, the more likely you’ll be to place a successful bet.