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An Ultimate Guide about Sports Betting: What is it and How Does it Function?


If you're an avid sports lover, then I am absolutely sure that you are going to love sports betting, especially as there isn't a single sports event where you cannot find a betting type. It appears that sports betting keeps on gaining in popularity and that's for a variety of reasons.

One of the most thrilling aspects of it is wagering, which takes this whole experience to the next level. Plus, let's not forget to add that with it you can potentially earn a substantial amount of money.

I believe that everything I’ve written so far sounds very appealing to you;  however, in order to be successful in it, you have to get yourself familiar with the basics. So are you ready? If the answer is yes, then keep reading!

How does it work?

There’s nothing too complicated about sports betting. In a nutshell, it involves wagering on different sports outcomes. And with this, there are several options at your disposal. For example, you can go straight to an online sportsbook, pay a visit to a land-based casino, or simply place bets with your buddies. Whatever suits you the most.

For the time being, the latter is the most famous way to bet on sports due to the fact that sportsbooks are widespread and convenient. Furthermore, a sportsbook provides a vast selection of bet types and betting lines on various games.

You can select from these different bets, odds, and teams when placing a bet. The point is to pick a successful outcome and earn money instead of losing a bet. A lot of bookmakers have numerous sports and the most popular ones include:

  • NBA Basketball
  • Baseball
  • Boxing
  • College Basketball
  • Golf
  • Cricket
  • Football
  • Hockey
  • Horse racing
  • Rugby
  • Mixed martial arts
  • Swimming
  • Soccer
  • Table tennis

Even though I enumerated all these sports, it doesn't necessarily mean that you will stumble upon them at every single online sports betting place, or even in a  land-based sportsbook. Many of these markets are accessible to the average bookmaker.

Another thing to keep in mind if you decide you want to bet, is that you must place a minimum bet. So what does it mean? It means that if a minimum wager (referring to the bookmaker) is $15, for instance, then you’ll have to place this much.

Keep in mind that both brick-and-mortar sportsbooks and online betting websites come with certain maximum wagers, which can go up to 1 million dollars. 

How to select the right sportsbook?

If you’re new to this, then it may be a bit challenging to determine easily. From what I know is that currently, the most reputable ones involve BUSR betting, PointsBet, FOX Bet, WynnBET, DraftKings, and many others. Although all of these aforementioned sites are great, it doesn’t mean that you should not take time to consider some things before you pick a certain sportsbook.

The first thing to pay attention to is if an online sportsbook is licensed and legal, meaning that it is obligated to have at least one official gambling license and of course, from someone reputable.

If that’s not the case, then you should steer clear of it. The most trustworthy gambling licenses available are the ones from:

  1. United Kingdom Gambling Commission
  2. Malta Gaming Authority
  3. Alderney Gambling Control Commission
  4. Gibraltar Regulatory Authority
  5. Sweden Spelinspektionen 

Generally speaking, every single website is obligated to provide the highest level of security to its punters. If you conclude that that’s not the case, then you definitely shouldn’t be joining it. So what do I mean by that?

It means that, with a reputable site, both your private and personal data are going to be properly secured, hence each time you make withdrawals or deposits, you can rest assured that none of your data is going to be misused. I cannot emphasize enough how pivotal this is.

How you can read sports betting odds

I believe that to some of you (especially beginners) everything about this may seem a bit confusing. However, if you pay attention to the things that I’m about to say and (even better) consult an experienced punter, then I am sure you’ll understand everything you need to start.

There are three main types of odds and they include American, fractional, and decimal. Today, I'll discuss the American ones because they are the most popular at North American-facing sportsbooks.

So what do you need to comprehend about betting in American odds format?

  • A minus showcases the favorite. You bet more cash than you stand so you can win in these instances.
  • A plus refers to the underdog, meaning you stand to win more than you wager.

I do not mean to give you any false hope, but even if you understand the abovementioned facts, it will be relatively enough to figure out how everything functions in this world. Now, the next step is to figure out how you are supposed to bet on sports involving winnings.

What I mean is that you need to know what your chances are  of winning based on the odds. Below, I will show you a perfect example of potential winnings:

  • Toronto Blue Jays + 150 (bet $100 to win $150 in profits)
  • New York Yankees -225 (wager $225 to win $100 in profits)

Now, this doesn’t instantly mean that you’re supposed to bet only $100. This was just an example.

Purchase on bad news, sell on good

You should definitely make use of artificially shaded lines based on the latest trends. Further, make sure to avoid sample size statistics. From what I’ve heard from the most seasoned punters, you should always go against the grain, and this includes:

  • Betting against the public
  • Make sure not to bet on teams in so-called "must-win" games
  • Taking teams that previously experienced a loss (particularly a blowout)

As I’ve just shared, sports betting is not too difficult to comprehend, however, it is extensive and requires some time and dedication to understand everything. I hope that you found this guide to be useful. Happy betting!

Money Matters, How does sports betting work? How can I make sure I don't lose money when sports betting? If I'm a beginner with sports betting, what do I need to know? How to select the right sportsbook? Entertainment


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