How to bet on sports at a casino
In the last four years, sports betting has emerged from the shadows and into the mainstream. The long-standing anti-gambling stigma in American popular culture faded quickly, allowing for the emergence of a massive, multibillion-dollar legal sports betting industry.
Millions of sports fans will be looking to get their first taste of the betting market now that sports betting is legal in many states.
Now that sports betting is legal in many states, millions of sports fans will be looking to get their first taste of the betting market.
But where do you start if you're not familiar with the jargon?
Sports Betting Introduction
Here's an introduction to sports betting, with 12 things every beginner should know.
1. Favorites vs. Underdogs
When oddsmakers release a betting line for a game, the first thing they do is decide which team should be the favorite and which should be the underdog.
The team with the best chance of winning the game is the favorite, and its odds are denoted by a minus sign. The underdog is expected to lose and is denoted by a plus sign.
There are two main ways to bet on a favorite or an underdog. The first is a bet on the winning margin, also known as the point spread.
The moneyline is the second way to bet on a favorite or an underdog. A moneyline bet requires you to simply pick the winner of the game, and the payout is calculated using American odds.
American odds are based on winning $100.
So, if you bet a -200 favorite, you must risk $200 to win $100, or any fraction thereof — $20 to win $10, $2 to win $1, and so on.
If you bet on a +200 underdog, you will win twice as much as you put in — $100 to win $200, $10 to win $20, $1 to win $2, and so on.
Back to the Colts-Texans game. The oddsmakers believe Indianapolis is the far superior team. To bet on the Colts simply to win the game, you must be willing to take a significant risk.
The Colts are -375, which means you must wager $375 to win $100, or $37.50 to win $10.
The Texans have a +300 rating. You'll win $300 if you bet $100. Alternatively, if you bet $5, you will win $15.
So why should you bet more on the favorite than you would on the underdog?
This is known as the juice, and it is how sportsbooks keep their edge over bettors.
Moneylines are available for all sports, but they are most commonly used in lower-scoring sports such as baseball, hockey, and soccer.
4. Over/Unders (Totals)
In addition to the favorite and underdog lines, oddsmakers will determine the total number of points scored by both teams combined in a game. This is known as the total or over/under.
Bettors can then wager on whether or not the total will be exceeded. You're not trying to guess the exact score (though that bet is available, too).
The Eagles-Lions game has a total of 46, which is about average for an NFL game.
If you bet on the over, you must have 47 points or more.
You must have 45 points or less if you bet the under.
It's a push if it lands exactly on 46, and all bets are refunded.
For the uninitiated, entering a sportsbook or casino for the first time can be overwhelming and intimidating. The lights are bright, and the place is crowded and noisy, with hundreds of bettors watching games on wall-to-wall big screen televisions. A massive LED scoreboard also displays teams and odds from various sports. A long line of bettors awaits at the cashier, also known as the "ticket window" or simply the "window." You don't want to be the idiot who holds everyone up because he or she has no idea what to do.
The most important thing to understand about sports betting is that it is enjoyable. And it's always been enjoyable.
Sports fans enjoyed betting on their favorite events and teams long before the legalization of sports betting in 2018, which sparked a boom in the United States ($13 billion bet legally in 2019).
While sports betting is quickly becoming a part of mainstream sports culture, newcomers should keep one goal in mind before placing their first bet: have fun.
How does sports betting work?
There are thousands of sports betting options available, but the basic premise is simply predicting what will happen during a game or event and risking money on the likelihood of that happening.
Sportsbooks will set odds on these occurrences based on their likelihood of occurring, allowing you to bet on the side you believe will win while the sportsbook essentially takes the opposite view.
If something has a high probability of happening, it is less risky and will not pay out as much as something with a lower probability and higher risk. The higher the risk, the greater the reward, but... the higher the risk.
The majority of sports betting options include two sides, such as team vs. team or Yes vs. No. However, some bets may have multiple wagering options, such as predicting which team will win the championship before the season begins.
Parlay bets are made up of two or more bets that are linked together in order to increase the potential payout. However, all bets must be correct for the parlay bet to win.
The greater the number of bets in a parlay, the greater the risk and potential return. Even if only one of the bets in the parlay is wrong, the entire parlay is considered a loss.
Parlays can contain a variety of bets, including point spreads, moneylines, and Over/Under totals. Use our parlay calculator to help you decide which bets to parlay and what kind of payout you'll receive.
What does -110 mean?
In sports betting, -110 means that a bettor must risk $1.10 to win $1.10. A bettor would have to risk $110 in order to win $100 at -110 odds.
This odds format is known as American Odds, and it is most commonly used in sportsbooks and casinos in North America. With point spreads, the -110 odds are commonly used, with both sides of the spread listed at -110, also known as flat.
The minus sign (-) preceding the American Odds indicates that the bettor must risk more than the expected return. The bettor can win more than the risk if the American Odds are preceded by a plus sign (+). A bettor could win $1.10 for every $1 wagered at +110. Other odds formats, such as decimal and fraction, are available, and you can use our odds converter to see how American Odds translate into those.
How to bet on sports online
You can bet on sports online by first researching the legal options in your area. Some jurisdictions permit online sports betting, and there are numerous online sportsbooks available. Other jurisdictions do not permit online sports betting or mobile sports betting sites that are linked to retail sportsbooks and casinos that require deposits and withdrawals in person
Most online sportsbooks accept major credit cards, traditional and electronic bank transfers, and popular transfer methods such as PayPal. Winnings can be withdrawn just as easily, with funds returned using standard banking methods.
Best sportsbooks online
The best online sportsbooks are well-known and trusted names that offer a variety of deposit and withdrawal options as well as safe and secure privacy protection.
The best online sportsbooks offer a diverse selection of sports, leagues, events, and bet types, as well as competitive odds and returns on these markets.
Sports betting tips
There are numerous strategies available, but if you're just getting started in sports betting, here are some fundamental sports betting tips to remember:
You are not required to bet on every single game. The best bettors rank potential picks based on their level of confidence before deciding which ones to wager on. The fact that bookmakers must set odds for every game is one of the few advantages bettors have over sportsbooks. Bettors, on the other hand, have complete control over which bets they place.
Home/Away: The location of the game can have a significant impact on the outcome. Some teams perform better at home, while others struggle away from home. Home field or home court advantage is factored into point spread and moneyline odds for host teams.
Line changes: Sports betting odds are constantly changing in response to action at the sportsbook as well as other factors such as injuries or weather. Getting the best odds for your opinion is critical to success in sports betting, and that means betting at the right time, either before or after the line moves.
Injuries/Weather: Injuries to key players and multiple positions can have an impact on the game's outcome. Bettors must keep an eye out for any notable injuries that may have an impact on their wagers. Another factor to consider when betting on outdoor sports such as baseball and football is the weather. Rain, snow, and wind can all have an impact on the outcome.
- Money management: Depending on how much money you have set aside for sports betting, you will want to devote a specific bet size to each wager so that you do not deplete your bankroll with a single bad day of betting. Some experts recommend risking 1 to 5% of your bankroll on each bet, depending on your level of confidence in the game.
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