With sports betting becoming increasingly legal in the United States, millions of fans are looking to get involved. But for many, it’s a new world and there are a lot of things to consider before you start placing bets. From the terminology to the rules of each sport, here are 12 things that every beginner needs to know about sports betting.
1. Know Your Team and League
One of the most important things to keep in mind when betting on sports is to always bet with your head and not your heart. Betting on your favorite team can have advantages, but it also has disadvantages. If you’re too emotional, it’s easier to make mistakes and place bets that aren’t the most profitable. Trying to find bets that aren’t on your favorite team can help you avoid this trap.
2. Research, Research, Research
Having an extensive knowledge of the teams and leagues you’re betting on will improve your odds of winning. Researching stats and trends can help you determine the best bets to place. Taking into account things like past performance, home-field advantage, and the strength of an opposing team’s roster can help you make informed bets.
3. Don’t Bet on Your Favorite Team
Betting on your favorite team can be a good way to stay engaged with the game, but it’s not a great way to make money. Most bettors are considered successful if they have a hit rate of around 50%, which is very difficult to achieve even for those who follow and obsess over the sport they’re betting on. This means that you’ll need to put in a lot of time and effort to become a successful sports bettor.
4. Understand How Payouts Work
Sports betting payouts are based on the odds of your bet and the amount you wager. The potential payout is shown on your bet slip, which you can view when you place a bet online or in person. Oftentimes, the payout will include the amount you wagered in addition to the odds.
5. Learn and Test Different Strategies
There are a lot of different sports betting strategies that can be used, and it’s up to you to determine which ones work best for you. Be sure to experiment with different bet types and sample sizes in order to find the strategy that’s right for you. It’s also a good idea to use the calculators provided by your sportsbook to see how much you can win with each bet type.
6. Know the Difference Between Moneyline and Spread Bets
Sports betting odds are a combination of probability and moneyline bets. Moneyline bets pay out if the team you’re betting on wins, while spread bets pay out if the team wins by a certain margin. When you place a moneyline bet, the odds will reflect how likely it is that your team will win. With spread bets, the odds will show how many points you need to win or lose.
