Sports Betting Guide - Everything You Need To Know

Sports Jan 26, 2020 0 287
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Sports betting is an old practice that began several centuries ago. Reputable sportsbooks like Betway provide a wide variety of betting options. Some people bet on sports for fun while others do it to make a profit. But, most beginners struggle to understand the fundamentals of sports gambling. Here is a detailed sports betting guide to help you win bets.

Understand the Odds

Bookmakers multiply odds with your stake to calculate winnings. Thus, it is important to understand the odds of different sports events. There are three main formats of odds. They include:

Fractional odds: British bookies often use fractional odds, especially in horse races. But, decimal odds are gradually replacing them. Sportsbooks express even money as 1/1.

Moneyline odds: They are often used in the U.S. Moneyline odds are more complicated than decimal and fractional odds. They can be negative or positive.

Decimal odds: Most betting firms, including Betway, are using decimal odds since they are easy to understand. They display them in two decimal places indicating your return for each unit stake.

Bankroll Management

Experienced punters recommend creating a sports betting bankroll that is less than 30 percent of your net income. Also, it is essential to determine a fixed amount of money that you will stake in each bet. Bankroll management is a major challenge for many gamblers. Some people stake different amounts of money on random bets and lose their bankrolls within a short period.

Types of Sports Bets

Here are six common sports bets:

1. Progressive Parlays

Progressive parlays have a lower risk than standard parlays. They offer a payout when you lose one selection. Gamblers who place huge accumulators get a return when they lose more than two selections. But, progressive parlays have a small payout compared to other types of bets.

2. Point Spreads

American sportsbooks provide point spreads for football and basketball. Pundits wager on teams that cover the spread rather than those that win games. Bookmakers make all teams equal favorites. They deduct points from favorites and award points to underdogs.

3. Future Bets

Bettors wager on sports events that will take place soon. For example, you can bet the team that will win the current Premier League campaign. Futures have high odds that change as the sports competitions continue.

4. Handicap Betting

Handicap bets are common in many sports. They resemble point spreads. Betting firms award points from top teams and awards them to low-ranked teams. Handicap betting is suitable for beginners. It helps them improve their chances of winning.

5. Moneyline Bets

Moneylines are the most popular types of bets globally. They are easy to understand and place. Besides, they are appropriate for any sport. Moneyline involves choosing which player or team will win a match.

6. Prop Bets

Most people place prop bets for fun. You can place them without research. For instance, a bookie can offer a prop bet for the first team to score in a game. Some props are available for particular sports.

Sports betting is an old type of gambling. Technology has transformed sports over the years. You can wager on real-time sports and fantasy sports at Betway. It is wise to understand the odds and types of sports bets to be a successful punter. You can specialize in one sport or wager on different sports.