Many new bettors struggle with deciding on how to bet on sports. It’s an especially intimidating undertaking for bettors without a background in statistics. However, it doesn’t take a stats genius to learn and enjoy sports betting. Bettors just need to understand probabilities to get started. This Sports Betting 101 Guide will help you get started.
- While placing a bet isn’t an essential part of a raceday, it can certainly add to the thrill! If you have never placed a bet before or aren’t 100% of what to do, below are some basics to get you started. First things first, all bets are placed in $1 multiples (i.e. You cannot ask to place $1.50 on a horse to win).
- Once there, you can either physically place your bet or use their app. The other choice is to use the GambetDC app, which was rolled out last May by the DC Lottery. In order to place a bet, you have to be 18 years old and physically in the District.
- How to place an online sports bet: The method of placing a bet with an online bookmaker or sportsbook does not change much, irrespective of which betting site you have joined. That is because the software behind each betting site is largely very similar in its operation. Here is the step-by-step method of placing a bet. It is very simple: 1.
Beginner’s Guide To Sports Betting
Betting a horse 'across the board' is really three separate bets: one to win, one to place and one to show. Hitting an 'exacta' entails picking the first two finishers in a race in the correct order; a 'quinella' is the first two finishers in either order.
Anyone asking themselves, “How does sports betting work?” has come to the right place. Our beginner’s guide will help bettors:
- Understand what they’re looking at when they open a sportsbook
- Create basic strategies to manage their bankrolls
- Find the best sportsbook – or sportsbooks – to create accounts for
While Gaming Today can’t reveal every winning wager, we can give bettors the tools to do it themselves. The best sports betting sites include:
- PointsBet
If any of these sports betting sites are available, they’re solid choices for newbies. We have reviews for each of these top sports betting apps on Gaming Today.
Most Common Types Of Sports Bets
Bettors will find these core bets at every sportsbook:
- Straight bets
- Futures bets
- Prop bets
- Parlay bets
Since these bets are everywhere, understanding them is critical to becoming a successful sports bettor.
Straight Bets
Straight bets are the foundational basics of sports betting. They’re single bets on single games. These include:
- Moneylines
- Point spreads
- Point totals
For example, if a bettor wanted to wager on the Patriots beating the Titans, they could place a moneyline wager on the Patriots. It’s one bet on one outcome. No matter how any other bets turn out, the Patriots wager would win or lose on its own terms.
Futures Bets
Futures bets are high-risk high-reward wagers on a season’s outcome. That includes everything from Championship winners to award winners. A wager on the Packers winning the Super Bowl would be a futures bet. So would a wager on Aaron Rogers winning an MVP award at the end of the NFL season. The odds of betting correctly is challenging, even for sophisticated statistical models. But the rewards are massive for bettors who wager correctly. So, high-risk bettors with strong opinions may be drawn to these.
Prop Bets
Prop bets are also called fun bets. They’re wagers that have nothing to do with a game’s outcome. They’re on random events during the game. They could include everything from the first team to score a set number of touchdowns to the length of the high note at the end of the National Anthem. They’re fun random wagers, and are good for parties.
Parlay Bets
Parlay bets are a string of bets that all have to come true for the bet to win. So, bettors could create a parlay bet that wagers the Broncos and Notre Dame will both win their games. In a parlay bet, both wagers have to win for the parlay to win. There’s no partial credit. It’s risky, but it boosts the odds and increases payouts.
10 Common Question About How Sports Betting Works
Many bettors have similar questions at the beginning. Here are the top ten.
What Is A Point Spread?
Point spreads are the number of points a team has to win or lose by. Here’s what they mean:
- -2.5 means the favorite to win has to win by at least three points.
- +2.5 means the underdog has to lose by less than three points.
That gives bettors who wager on their favorite teams the same chance to win bets as bettors who wager on the best teams.
Any betting guide worth its salt can answer that.
What Is A Moneyline Bet?
Moneyline bets are the most basic of sports betting basics. It’s a bet on who will win the game. Here’s an example from an NBA’s live bet:
- Milwaukee Bucks: -530
- Orlando Magic: +380
These are the odds from the third quarter, so bettors have a lot of game information to work with. Anyone confident the Bucks would carry the game could wager on the Bucks to win. But anyone confident in a comeback from the Orlando Magic could bet on them to win.
What Is A Favorite And What Is An Underdog?
A favorite is the team expected to win the game. The underdog is the team expected to lose. Favorites are marked with a negative sign, and underdogs are marked with a positive sign. Those signs tell bettors how risky their wagers are. The lower the negative odds, the higher the chances the favorite will win. The higher the positive odds, the lower the chances the underdog will win.
What Does Over/Under Mean?
Over/Unders refer to point total bets. Bettors who wager over the point total are betting that the two teams will score more combined points than the sportsbook says. Unders wager that fewer the teams will score fewer combined points than the sportsbook says. For example, a sportsbook might offer something like this:
- St. Louis Blues: O 5.5
- Colorado Avalanche: U 5.5
Either the Blues have to score six or more goals, or the Avalanche has to score five or fewer goals.
What Does -125 Mean?
-125 tells bettors a few things. First, these are odds on the favorite. Whichever team this is is predicted to win – in this case, 55.6%. (Online odds calculators can convert sportsbook odds to probabilities.) These odds also mean that bettors have to wager $125 to win $100. Since this team is more likely to win, sportsbooks aren’t going to pay more out than they accept. Bettors may profit individually, but underdog wagers and house advantages are going to keep sportsbook profits up.
Where Can I Place A Bet?
Since placing bets is integral to sports betting, bettors should know how to find sportsbooks. Many states list licensed sportsbook operators either on the Department of Revenue website or the Lottery Division website. (It depends who runs sportsbooks in that state.) Bettors can also search for sportsbooks at casinos or find sportsbook websites and apps in states that allow online wagering.
The list of states with legal online sports betting is growing by the year. Currently, almost two dozen states have legal online sportsbooks or are in the process of launching sports betting. Some of the most popular states where sports betting is legal include Michigan, Colorado, and Illinois.
What Is Live Betting?
Betting on sports games is one thing, but betting during them can be exhilarating. Live betting allows bettors to make wagers during a game. Sometimes, teams will have a rough start, but bring it together in the end. Other teams have a great start then finish poorly. (Broncos anyone?)
Live betting lets bettors take advantage of these changing odds. It tests a bettor’s ability to guess how the game will change during play. It’s a fresh challenge for bettors who pick the basics up quickly.
How Much Should I Bet?
No more than you’re willing to lose. Learn how to bet on sports one at a time, first. Then you can make a few wagers at a time. Eventually, bettors will be able to put several wagers on one bankroll. Professional bettors know how to distribute their bets so they can balance wins against losses. They begin to run their bet slips like sportsbooks run books.
And it all starts from learning how to make one bet at a time.
What Sports Betting App Offers The Best Odds?
It depends. Some sportsbooks offer strong odds on the favorite, the underdog, certain sports, or offer so many boosts and promotions that they beat the competition. Here are some common trends:
- DraftKings: Competitive odds on favorites
- FanDuel: Competitive odds on underdogs
- FOX Bet: Bet boosts that can improve odds over other sportsbooks
- SBK: Competitive odds, overall
No sportsbook will have the best odds every time. The best way to bet on sports is to understand your own preferences, then find a sportsbook that matches them.
What Are The Most Common Betting Mistakes
Betting on your favorite team instead of the best team is the best way to burn through your money. If you keep losing wagers, don’t keep trying to make the same strategy work. Chasing losses doesn’t work in Vegas, and it doesn’t work on DraftKings. Failing to learn and adjust will hurt new bettors more than most things they can do. (It’s as true on the field as it is off the field.)
Understanding sports betting means understanding that feelings can’t be part of your wagers. Deliberate strategies beat feelings over the lifetime of a sportsbook account.
Sports Betting 101 FAQs
What Is The First Step To Start Betting On Sports?
Pick a sportsbook. Bettors don’t have to know the ins and outs of sportsbooks to start betting. They just have to choose a licensed brand, create an account, and start betting. Bettors shouldn’t deposit more than they’re willing to lose, though. Responsible gaming is important. They should also take welcome bonuses into account when they’re making their first deposits and wagers.
Some states allow them. Sports betting has spread across the United States, but not every state has implemented it the same way. Some sportsbooks only allow retail sports betting. Others have online and mobile sports betting. Bettors can check their states’ laws to see whether mobile betting is on the table for them.
Here are the states that legalized online sports betting and whose online sports betting industries are live:
- Michigan
- Virginia
- Nevada
- Colorado
- Iowa
- Illinois
- Indiana
- West Virginia
- Pennsylvania
- New Jersey
- New Hampshire
What Are The Benefits Of Using Legal Sports Betting Apps Rather Than Illegal Bookmaker Apps?
Reliable payouts, site security, and state regulation. In Colorado, licensed sportsbooks are required to keep enough cash on hand to pay bettors. Most states require security audits before sportsbooks go live so social security numbers aren’t stolen en mass. Finally, state governments can twist sportsbooks’ arms into operating legitimately. The risks of abandoning these protections aren’t worth the potential rewards of using illegal sportsbooks.
Are the “better” odds associated with illegal sportsbooks aren’t worth your social security number?
Yes. Licensed sportsbook sites are audited by either state or independent authorities to ensure player data is safe. The most common security measure is end-to-end encryption. That means a hacker can’t even see what bettors are typing into their screens. It’s the kind of security bettors should expect in an industry handling such sensitive information.
How Old Do I Need To Be To Bet On Sports In The US?
In most states, 21. However, three states with legalized (but not necessarily live and operational) sports betting allow 18-year-olds to gamble:
- Washington
- Montana
- Rhode Island
Person Placing A Bet
Each of these states probably has a fascinating history that explains why it lets 18-year-olds gamble. But in the meantime, all we can say is not to blow all your college money at a sportsbook.
Sports betting has steadily gained traction in Las Vegas, a place known to host some of the best land-based casinos in the world. However, for someone who wishes to places a bet online on a popular sporting event like Super Bowl, Baseball, boxing, cricket, or any other traditional sport(s), this post walks you through the process of doing it on Las Vegas Casinos.
Understand the types of sports betting Markets available on Las Vegas Casinos
The first step to successfully placing a sports bet on Las Vegas Casinos is understanding the types of bets available for sports betting. If you are a first-timer in this, betting on sports bets on leading casino sites in Vegas could be a little tricky. It is especially the case during big sporting events like the Super Bowl, March Madness, and Vegas Golden Knights.
The following are popular sports betting markets you will find in most Las Vegas Casinos:
- Money line bet: With this type of bet, a punter places a wager on a team he or she believes will win the match, and course based on your analysis of an upcoming or live match.
- A point spread bet: You put a stake on goal or point margin as defined by a bookmarker. A point spread is similar to handicap betting except that in the case of Las Vegas online casino sports wagering, you predict the outcome based on the point spread.
- Futures: It is a type of bet where you place a wager on a future prediction of a game outcome, qualification for a major event, or any other possibility. A good example here is placing a futures bet on teams that will qualify for the next super bowl.
- Totals: Another type of betting market you should know before playing sports betting on any Las Vegas casino is totals, also known as under/overs. Based on a sportsbook’s provisions for totals, you can place a bet on total points/goals.
- Parlay Bets: Before you place a sports bet online on any Las Vegas casino, you should also have a good mastery of parlay bets. Parlay bets are especially popular for punters who do not want to stake big yet stand a chance to earn more from a wager that is a little as $5. For example, you can place a parlay bet featuring totals, futures, money line, and point spread.
- Prop bets: Prop bets are also known as propositions bet, in which case, a punter places a stake on game or player stats. For example, you can place a bet on who will have the most touchdown in a super bowl match or at the exact minute when the first touchdown will happen.
Las Vegas Casinos That Offer Online Sports Betting
Now, with your picks ready, the next question is which Las Vegas casinos offer sports betting? First off, you should note that some of the most popular sports available for punting on leading Las Vegas casino websites are football, baseball, basketball, and cards.
Now, when it comes to L.V casinos that offer sports betting, the most popular ones are Bovada, sportsbetting.ng, betonline.ng, My bookie, and GT bet. Most importantly, you should always compare sports betting bonuses across these platforms if you want to leverage your wager. Other casinos in Las Vegas with sportsbooks are Caesars Palace Race &Sports Book, Aria Race &Sports Book, and BetMGM.
How to place a bet on sports in Las Vegas Casinos?
The next step is placing your bet on a popular sport such as NFL but another question begs. How do you place a sports bet online in Las Vegas Casinos? Well, the process is pretty straightforward and simple.
Download any Las Vegas Casino App
Most casinos in Las Vegas now have mobile apps featuring the sportsbook section, making it possible to place a wager online. You should, therefore, start by downloading the App of your preferred Las Vegas casino on your smartphone or tablet. You will note that with a sportsbook like BetMGM, a gambler must choose from five locations namely Colorado, New Jersey, Indiana, Nevada or West Virginia to initiate APK app download. With the App ready, you can proceed to place a wager on your favorite sport.
Telephone betting
Another way of placing a sports bet on any Las Vegas casino is to through telephone. The process is simple. The first step is finding out which online casino offers sports betting. Next call support to walk you through the process of placing a wager via telephone.
FAQs About Placing Sports Bet Online On Las Vegas Casinos
If you are a first-timer in placing a sports bet on any Las Vegas casinos, you should ask important questions before getting started. The following are questions that punters ask frequently about betting online in Las Vegas Casinos:
Does a move on the money line affect your wager outcome?
Placing A Bet On The Masked Singer
No. Once you place a sports bet on your preferred Las Vegas casino, the value on your ticket gets locked. It cannot decrease or increase regardless of game stats.
Can I withdraw my sports bet earnings online from a Las Vegas Casino?
Yes, you can withdraw winnings on sports betting from an online Las Vegas casino. For land-based casino sports betting, you should return your ticket to a representative via a sports betting window for payment or head over to the cashier cage. The good news is that with online sports betting, punters get paid via payment gateways such as MasterCard, bank wire transfer, PayPal, Visa, and other available methods.
Can I place a wager on a game that is underway?
Yes, if you are placing a wager online on any Las Vegas casino, you can play for live in-game outcome or stake on the second half outcomes.
Placing A Bet Online
Can I use a mobile App to place my sports wager?
Placing A Bet On The Melbourne Cup
Yes, most Vegas casinos offering sports betting now have mobile apps to give players all the convenience and portability they need. However, some have a condition stating that you must be a resident of L.V to play.
Are betting lines the same in Las Vegas Casinos?
Placing A Bet Online
No, the betting lines on Las Vegas casinos that offer sports betting are not the same. You can use reliable odd trackers on the web to find out which platform offers the best money line bet any point in time. However, the differences in the money line may only be a few points.