How to Place a Bet: Online Sports Betting Guide

Learn how to place a bet by understanding the necessary online sports betting concepts.

How to Place a Bet: Reading Sports Odds

Let’s start this how to place a bet article with information on how to read sports odds.

Sports odds represent the likelihood of a particular outcome occurring in a sporting event.

There are several different ways to express sports odds, but they all generally convey the same information.

Here is an example of how to read sports odds:

Let’s say you are looking at the odds for a football match between two teams, Team A and Team B. The odds might be expressed as follows:

  • Team A: +150
  • Team B: -200

The plus sign in front of the number for Team A indicates that this team is an underdog.

The number following the plus sign represents the amount of money you would win if you bet $100 on this team.

In this case, a $100 bet on Team A would pay out $150 if they win (for a total return of $250).

The minus sign in front of the number for Team B indicates that this team is the favorite. The number following the minus sign represents the amount of money you would need to bet in order to win $100.

In this case, a $200 bet on Team B would pay out $100 if they win (for a total return of $300).

So, if you think Team A is going to win, you would bet $100 to win $150.

If you think Team B is going to win, you would need to bet $200 to win $100.

It’s important to note that these odds represent the sportsbook’s estimate of the probability of each team winning.

And books will adjust the odds as the event approaches to reflect changes in the perceived probability of each outcome.

The odds can also vary from book to book, so it can be helpful to shop around to find the best odds for your bet.

How to Place a Bet: What Does -110 Mean?

Let’s continue this How to Place a Bet article¬†by explaining what -110 means.

In sports betting, odds are usually expressed as a fraction or as a set of numbers with a plus or minus sign.

The number following the plus or minus sign represents the amount of money that must be bet in order to win a certain amount.

For example, if the odds for a particular bet are -110, it means that you would need to bet $110 to win $100.

The minus sign (-) indicates that the team or individual is the favorite to win the game, while the plus sign (+) indicates that the team or individual is the underdog.

The -110 odds are one of the most common in sports betting, and they indicate a relatively balanced matchup between the two teams or individuals.

In other words, both sides are perceived to be fairly evenly matched, and the sportsbook is not giving a significant advantage to either side.

It’s important to note that the -110 odds are just one example, and the odds for a particular bet can vary depending on the perceived likelihood of each team or individual winning.

Higher odds may be given to the favorite, while lower odds may be given to the underdog.

How to Place a Bet: Favorites vs Underdogs

Now in this How to Place a Bet guide, let’s see what is a favorite versus what is an underdog.

In sports betting and gambling, the terms “favorite” and “underdog” refer to the perceived likelihood of a particular team or individual winning a competition.

The favorite is the team or individual that is expected to win, while the underdog is the team or individual that is not expected to win.

Favorites are usually indicated by a minus sign (-) followed by a number, which represents the amount of money that must be bet in order to win a certain amount.

For example, if the favorite in a particular game is -150, it means that you would need to bet $150 to win $100.

Underdogs, on the other hand, are indicated by a plus sign (+) followed by a number, which represents the amount of money that can be won by betting a certain amount.

For example, if the underdog in a particular game is +200, it means that you would win $200 if you bet $100.

In general, favorites are expected to win because they are perceived as being stronger or more skilled than the underdogs.

However, there is always the possibility that the underdog could pull off an upset and win the game, which is why betting on underdogs can sometimes be more attractive to some people.

How to Place a Bet: Betting Types

Let’s continue this How to Place a Bet guide with information on the different betting types and options.

How to Place a Bet: Point Spreads

Now in our How to Place a Bet guide, let’s talk about point spreads.

In sports betting, a point spread is a number that is used to determine the winner of a particular game or match.

It is a way to level the playing field between two teams or individuals who are perceived to be mismatched in terms of skill or ability.

The point spread is set by oddsmakers, who are professional analysts who study the strengths and weaknesses of each team or individual and assign a numerical value to each side.

The point spread is then used to determine the winner of a bet.

For example, if the point spread for a particular game is 7 points, it means that the favorite must win by more than 7 points in order for a bet on them to be a winner.

Conversely, if the point spread is 7 points and the underdog wins or loses by less than 7 points, a bet on the underdog would be a winner.

Point spreads are typically used in football and basketball, although they can also be used in other sports.

They are a way to make betting on games more interesting and exciting, as they give underdogs a chance to compete and potentially win despite being perceived as the weaker team.

How to Place a Bet: Moneyline

Next in this How to Place a Bet guide, let’s see what the moneyline is.

In sports betting, the moneyline is a type of bet in which the bettor picks which team or individual will win a particular game or match, without the use of a point spread.

Moneyline bets are typically offered in conjunction with point spread bets, and they offer a simpler way to bet on a game.

Moneyline bets are indicated by a set of odds that represent the payout for a particular bet.

The odds are expressed as a positive or negative number, which represents the amount of money that must be bet in order to win a certain amount.

For example, if the moneyline for a particular game is -150, it means that you would need to bet $150 to win $100.

On the other hand, if the moneyline is +200, it means that you would win $200 if you bet $100.

In general, the favorite in a game will have negative moneyline odds, while the underdog will have positive moneyline odds.

The magnitude of the odds reflects the perceived likelihood of the favorite or underdog winning the game.

Moneyline bets are popular because they offer a simple way to bet on a game and can be attractive to bettors who want to avoid the complexities of point spreads.

They are commonly used in sports such as baseball, hockey, and soccer.

How to Place a Bet: Over/Under

Now in our How to Place a Bet guide, let’s talk about total bets.

In sports betting, totals betting (also known as over/under betting) is a type of bet in which the bettor wagers on the total number of points, goals, or runs scored by both teams in a particular game or match.

The sportsbook sets a line, and the bettor decides whether the actual total will be over or under that line.

For example, if the total for a particular basketball game is set at 200 points, the bettor can wager on whether the combined score of both teams will be over or under 200 points.

If the final score is 190-210, the bet on the “over” would be a winner, while the bet on the “under” would be a loser.

Totals betting is a popular option because it allows bettors to focus on the overall outcome of the game rather than which team will win.

It can be a more straightforward way to bet on a game and can be attractive to those who want to avoid the complexities of point spreads or moneylines.

Totals betting is offered on a wide range of sports, including football, basketball, baseball, and hockey

How to Place a Bet: Props

Now in this How to Place a Bet article, let’s talk about props.

Propositions bets, or prop bets, are a type of bet in which the bettor wagers on the occurrence or non-occurrence of a specific event within a particular game or match.

Prop bets can be based on a wide range of factors, including an individual player or team performance, the outcome of specific plays or drives, and the overall outcome of the game.

Prop bets are often offered in addition to traditional bets such as point spreads and moneylines.

They can be a way to add excitement to a game or match and can be attractive to bettors who want to focus on specific aspects of the game rather than the overall outcome.

For example, a prop bet might be offered on whether a particular player will score a certain number of points in a basketball game, or whether a particular team will score a touchdown in a football game.

Prop bets can be offered on a wide range of sports, including football, basketball, baseball, and hockey.

It’s important to note that prop bets can be more difficult to predict than traditional bets, and they may have higher odds and lower payouts as a result.

It’s also important to be aware of the terms and conditions of each prop bet, as well as the odds and potential payouts.

How to Place a Bet: Futures

Next in this how to place a bet article, let’s talk about future bets.

A future bet is a wager placed on an event that will take place at a later date.

These types of bets are often made on sporting events, such as the winner of a league championship or the outcome of a playoff series, but they can also be made on other events, such as the winner of an election or the outcome of a reality television show.

To make a future bet, you typically need to select the team or individual you think will win the event and place your bet.

The odds for future bets are usually expressed as a moneyline, with a plus sign indicating an underdog and a minus sign indicating a favorite.

The number following the plus or minus sign represents the amount of money you would win or need to bet, respectively, if you place a $100 wager.

For example, if you think Team A is going to win the league championship, you might see odds expressed as follows:

Team A: +150 Team B: -200

If you think Team A is going to win and you place a $100 bet at these odds, you would win $150 if they do indeed win the championship.

If you think Team B is going to win and you place a $200 bet at these odds, you would win $100 if they win the championship.

It’s important to note that future bets are subject to change as the event approaches and the perceived probability of each outcome shifts.

The odds can also vary from bookmaker to bookmaker, so it can be helpful to shop around to find the best odds for your bet.

Multi-Selection Bets

A multi-selection bet, also known as an accumulator or combo bet, is a type of sports betting wager that combines multiple individual bets into a single bet.

The bets are typically related to one another in some way, such as all being bets on the same sport or all being bets on different games within the same sport.

For example, you might make a multi-selection bet that includes a bet on the moneyline for a basketball game, a bet on the point spread for a football game, and a bet on the over/under for a baseball game.

To win a multi-selection bet, all of the individual bets included in the wager must be correct. If any of the bets are incorrect, the entire multi-selection bet is lost. Because of this, multi-selection bets generally have higher payouts than individual bets, since they are more difficult to win.

Multi-selection bets can be a fun and exciting way to engage in sports betting, but it’s important to be careful and not risk more money than you can afford to lose.

It’s also important to carefully research and select the individual bets that you include in your multi-selection bet in order to increase your chances of winning.

Thank you for checking out this article on how to place a bet, we wish you the best of luck with your action!