How familiar are you with sports betting online? Do you know what to expect if you place a wager? With more and more places allowing sports betting to occur, you might want to know as much about it as possible.
Sports betting allows fans to place wagers on their favorite sports from the comfort of their own homes. In this article, we will cover exactly how sports betting works and what benefits come with it.
How a Sports Bet Works
In its most basic form, sports betting allows you to win money if the team you bet on wins a sporting event. If the team you bet on loses, you will lose your wager- so there is risk involved. Many people enjoy the excitement of watching a game that they have money on.
However, there is more to how sports betting works than just that. Depending on where you are playing, you can see different odds formats.
Sports betting is fun, but you always want to play responsibly. Anyone can overspend; there were even gambling issues among famous footballers. As long as you set a budget for yourself, you can be sure to have a nice time. It helps if you think of sports betting as a fun event, instead of a chore to earn money.
What Does the Plus and Minus Mean?
One of the first things you notice is probably the plus and minus signs when you open your sports betting site. These marks are used in American odds to show how much a $100 wager will payout if you win.
You see these symbols in point spreads, which are common in online betting. The point spread lists the contest, including the favorite to win and the underdog. The favorite will have the minus sign next to it, and the underdog gets the plus.
So, if you see this point spread:
Pittsburgh VS. Cincinnati
Pittsburgh (+3) -110
Cincinnati (-3) -110
There is a lot of information you can get from this. First, we know that Pittsburgh is playing in Cincinnati because the home team is always listed second. Next, we can see that Cincinnati is the favorite and Pittsburgh is the underdog.
Breaking Down Point Spreads
We are going to keep using the above example. If you were to bet on Cincinnati, you would give three points due to the minus signs. So for you to win, Cincinnati has to beat Pittsburgh by four or more points. If they win by exactly three points, you don’t lose or win.
If you place your wager on Pittsburgh, you gain three points. That means you win if Pittsburgh wins the game or loses by one to two points. You also win money if they tie.
The -110 next to the teams is their odds. In this example, you would need to wager $110 to win $100. However, the numbers are not always going to be perfect, even like this. You might see decimals.
For instance, in this point spread:
Pittsburgh VS. Cincinnati
Pittsburgh (+4.5) -110
Cincinnati (-4.5) -110
In this event, if you bet on Pittsburgh, you win if they win or lose by four or fewer points. When you bet on Cincinnati, they have to win by five points or more for you to win.
What Does the Decimal Mean?
In Europe, Australia, and Canada, a different type of odds format is used. The decimal format shows the total return you get from winning a $1.00 bet. This method will probably be the one you see the most online- unless you happen to be using an American site.
This method is much more straightforward. So, if you see odds that look like this:
2.30 VS 1.70
$100 would win you $130 and $70 on each wager, respectively. The decimal represents how much your total payout will be. If you won a bet at 1.5, you get $1.50 for each dollar you wagered.
Now you know how sports betting works! There are several different sports for you to choose from.
What About Odds?
In sports betting, odds are used to calculate the payouts for winning wagers. When considering placing a wager, you will be offered the odds. The higher they are, the more money you can win.
However, odds show you how likely a specific outcome is. The higher the odds, the less likely they are to happen. So, in the case of 2.30 VS. 1.70, the team with 1.70 odds is more likely to win.
You will want to consider the odds when placing your wager. While you want the team that can give you more earnings to win, it will be less likely. Always make sure to think about the numbers before you place your final bet.
Choosing a Sports Betting Site
Before you select a site to play with, you want to consider several factors. You should know what you want from the site, then think about what they can offer you. Many have great welcome bonuses, but you want to think about what using the site will be like after that too.
If you are using a site for a while and decide it’s not for you- that’s okay! You can always move onto another sports betting site.
You get a lot of convenience with sports betting. You can play on your laptop, PC, or mobile device. Plenty of sites come with apps, so you can check on your wagers on the go.
Finally, you want to be sure that you are using a legal site in your area. Depending on where you live, you might not have all options available to you.
Overall, many people enjoy sports betting online. As long as you consider the odds, payout rates, and the site you use, we are confident that you will have an enjoyable time!
Be sure to check out the rest of our articles if you want more football information and want to know what’s happening in the sports world. We have plenty there for you!