Do you enjoy watching high-stakes sports games? Sports betting involves predicting sports results and wagering on its outcome. As a form of gambling, it’s a common practice around the world. In the United States, 18 million people are sports betting online.
If you want to improve your odds of winning, read on and learn about sports betting 101:
How Sports Betting Works
Like regular betting, sports betting involves two or more parties agreeing on a wager. The typical sports wager is on whether a sports team or player will win or lose. If the player or team you bet on loses, you also lose your money.
One of the most important things to understand is the odds of a game. American, Decimal, and Fractional are the three formats used to display these odds. For this guide, we’ll only focus on understanding American Odds.
Understanding American Odds and How to Bet With Them
A three-digit number with a + or – often goes in front of the team name. These numbers indicate your potential payout. It also shows whether you’re betting on the favorites or underdogs.
The negative numbers often point to the favorite on the betting line. The number after the negative sign is the betting amount necessary to win $100. The positive number shows the underdog, while the number next to it denotes how much you’ll win if you bet $100.
For example, the Tarsiers (-150) are playing against the Eagles (+120). To win $100 on the Tarsiers, you have to bet $150. If you bet $100 on the Eagles, you’ll win $120.
You can also bet different amounts and calculate your potential winnings.
Sports Bet Tips
As a good rule of thumb, never bet more than what you can afford to lose. Bet the same amount every game and only risk 1%-5% of your bankroll each time. Also, always remember you won’t always be on the winning side.
If you want to improve your chances of winning, understand the betting odds. Use an odds checker to get an edge over other bettors. It also helps to research the team’s gameplay and strategies before the game.
Where to Place a Bet
Most sports betting today occurs online. Consider going online to look up the best online sportsbooks in your locale. Ensure sports betting is legal where you live, especially mobile betting.
The states that legalized mobile sports gambling are Colorado, New Jersey, and Indiana. Did you know that 92% of sports wagering in New Jersey occurs on a digital platform? Once you find a sportsbook you like, start betting.
Start Your Sports Betting Journey Today
We hope you enjoyed reading about our sports betting guide. Betting on the winning team is often fun and rewarding, especially when they’re your favorites. In some cases, the money you earned from the win is only secondary to the thrill of betting.
Are you looking for more helpful guides? Read our other posts and learn more valuable tips and tricks now.