You can find that the history of sports goes back about 3,000 years. The first Olympic Games began in 776 BC.
If you’re someone who enjoys sports, you might be curious about how to make money while watching your favorite games. While it might seem tough to learn how to bet, there’s hope.
This article will show different tips and tricks for betting on sports for money. Read on to explore these tips and tricks, and start making money in no time.
Understanding Your Odds
Whether you decide to become a bookie and pay per head or start sports betting on the side, you’ll need to understand the different formats. Your odds are shown in fractional, American, and decimal formats.
This shows how much money you can win by choosing that format. It also tells you the chances of the outcome that you’re interested in.
Keep in mind that a sportsbook can change the odds to receive bets on a certain side. That’s why it’s important to not just go by the odds alone. The odds will show you how much the bookie will charge to take your bet.
American odds are broken down into positive or negative numbers. For positive numbers, this is how much money you’ll make on a standard win.
For American odds, you receive your initial stake back. That means that if you bet 1 bitcoin and receive 2, you’ll get a total of 3 back.
If the numbers are negative, this shows how many bitcoins you’ll need to place for your initial stake to receive 100 bitcoins back. Bitcoins are a common type of online currency that’s used in sports betting.
This is the competitor or team that they expect to win. In order to see who that is, they’ll have a minus sign next to the odds.
This is the competitor or team that they expect to lose. There will be a plus sign next to the odds.
Understanding Pick or Pick’Em
This is when a bet is the same on both sides as far as who they expect to win. You’ll pick who you think will win when you don’t have to lay odds or overcome a point spread. This is what leads to an even return.
Points spread is when they even a better matchup between the sides. The underdog receives points since the favorite will give points to them.
In order to win, the favorite needs to overcome the number of points that are given to the underdog. The underdog will win by using these points to overcome the opposition.
Keep in mind that sports betting is similar to stocks on Wall Street. This means that bookmakers can change the odds throughout the day.
Weather and injuries can change the odds as well. You can check out different live odds pages for updates on betting data.
In order to choose the best line, it’s a good idea to use more than one sportsbook. Even obtaining an extra half-point can add up over time.
Place Your Money
Once you take a look at the odds, you can put your money down. You’ll hear the term totals which is often known as under/over.
This is the total number of points that both teams score. You’ll need to decide whether the 2 teams will score above or below this. Think about different factors such as if the over/under seems high, if star players are hurt, etc.
Choosing Local Bookies
You can find local bookies throughout the United States, especially at sports bars. Keep in mind that sports gambling isn’t legal in most places except Nevada.
When you find a reputable bookie, start out betting small amounts in order to build trust. When you see that you receive your fair share, you can start betting higher amounts.
While it might feel hard to find a way to bet on sports legally, it’s starting to expand. You can check out your state’s rules first before you begin.
Some states that allow it include West Virginia, Colorado, New Jersey, and Pennsylvania. Legalities change, so it’s important to check for any changes before beginning. Once you decide that your state allows it, you can choose to bet online.
Know Your Strengths and Weaknesses
Next, it’s a good idea to track your progress to know your strengths and weaknesses. There are different websites and apps for your phone that let you track how you do. Some of them even offer odds shopping and live bet probability.
Bet With Family and Friends
Start betting with family and friends for a more personal sports betting experience. There are plenty of leagues you can choose from through ESPN as well. You can also choose from other sports sites that have fantasy leagues.
When you start, you and your friends and family can agree on the rules. Decide how much you can win at the end, whether the team is free or not, etc.
Consider having a waiver wire set up. This means how many free agents that a team can add.
It’ll also determine the selection order as well. You can also have a system where you can decide on trading players. There also needs to be the choice of vetoing a trade deal as well.
How To Bet in Sports
Now that you’ve explored how to bet in sports, you should have a better idea of what to expect. Would you like to read more sports content? For all of your finance and lifestyle needs, check out our other articles today.