Beginner's Guide to Sports Betting

WagerTalk Beginner’s Guide to Sports Betting

Sports betting has become increasingly popular over the years due to its legalization across many states un the United States. Many new customers are registering for the top sportsbook operators in the United States every single day and for many, they are jumping into a new world they know nothing about. Being a beginner is okay!

And looking to learn more about sports betting is more commonplace now than at any point before. In this guide, we’ll cover everything beginning sports betting players need to know to get started with sports betting, including what it is, how to place bets online, the best sports betting sites, how odds work, live sports betting, in-play betting, sportsbooks, and how to read sports betting lines.

What is Sports Betting?

Sports betting is the act of placing a wager on the outcome of a sporting event. This can include anything from football, basketball, and baseball to horse racing, boxing, and MMA. The goal of sports betting is to predict the outcome of an event and win money if said prediction is correct.

How to Place a Sports Bet Online

Step 1: Choose a Sports Betting Site – There are many sports betting sites out there, so it’s important to choose one that is reputable and safe. Look for sites that are licensed and regulated by a recognized authority.

Step 2: Create an Account – Once a customer decides on one (or multiple) sportsbook operators apps or websites, they'll need to register and create an account. This will typically involve providing some personal information and creating a username and password.

Step 3: Deposit Funds – Before customers can place wagers, they'll need to deposit funds into their account. Most sports betting sites offer a variety of deposit options, including credit/debit cards, e-wallets, and bank transfers.

Step 4: Place A Wager – Once a customer has funds in their account, they can start placing bets. Simply find the sport or event, choose the bet type, and enter the amount want to wager.

What are the Best Sports Betting Apps/Sites?

There are quite a few sportsbook operators to choose from, but there are some standout brands that have the name recognition to most sports betting customers. It's always a great idea to go through an app or website before deciding to use it and look up the welcome offer and bonuses available to new customer sign ups. This can be a determining factor on where to sign up. Some of the nationally recognized sportsbook operators include: DraftKings, FanDuel, Caesars, BetMGM and more. Some of these sportsbook operators also provide fantasy games, such as DraftKings and FanDuel.

How Do Sports Betting Odds Work?

Sports betting odds represent the probability of a particular outcome occurring in a sporting event. Odds are typically presented in one of three formats: decimal, fractional, or American. Let’s take a closer look at each of these formats:

Decimal Odds – Decimal odds represent the total amount a customer will receive back if they win their bet, including the original stake. For example, if a customer wagers $10 at odds of 2.50, they will receive $25 back if the wager is successful ($10 x 2.50 = $25).

Fractional Odds – Fractional odds represent the profit a customer will make on a successful wager, relative to the stake. For example, if a customer wagers $10 at odds of 3/1, they will receive $30 back if their bet is successful ($10 x 3 = $30).

American Odds – American odds are also known as money line odds and are most used in the United States. Positive odds indicate the underdog, while negative odds indicate the favorite.

Video Introduction to The Most Basic of Bets – Moneyline Betting

What is Live/In-Play Sports Betting?

Live sports betting, also known as in-play betting, allows bettors to place wagers on an event that is already in progress. As the game progresses, the odds and available bets will change in real-time based on the current score and other factors.

What is a Sportsbook?

A sportsbook is a company or platform that accepts wagers on sporting events. Sportsbooks offer a wide range of sports and events to bet on, and they set the odds for each event.

How To Read Sports Betting Lines?

Sports betting lines are used to indicate the odds of a particular outcome occurring in a sporting event. Here’s how to read sports betting lines:

Money line Odds – Money line odds represent the probability of a particular outcome occurring and are typically used in sports like baseball, hockey, and soccer. Positive odds indicate the underdog, while negative odds indicate the favorite. For example, if a team has odds of -150, a customer will need to bet $150 to win $100. If a team has odds of +150, a customer will win $150 on a $100 wager.

Point Spread – Point spread betting is popular in sports like football and basketball. The point spread represents the number of points that the favorite is expected to win by. For example, if the point spread is -5.5, the favorite would need to win by six or more points for a wager on them to be successful.

Over/Under – Over/under wagers are also known as totals and involve betting on whether the total number of points scored in a game will be over or under a particular number set by the sportsbook.

These are the basic betting lines that you will encounter in sports betting. It’s important to remember that different sports and events may have their own unique betting lines and rules, so always check the specific terms and conditions before placing your bets.

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WagerTalk’s team of NFL expert handicappers offer daily free NFL picks – you’ll find win to nil betting picks and win to nil tips in there!

Looking for more free sports picks and sports betting tips?

Latest Betting Odds and Public Action: Vegas lines updated in real time, including who the public is betting on.
Last Minute Handicapping Advice: Check out our extensive library of handicapping tips and advice from professional Vegas handicappers (we also recommend taking the time to look over our sports betting tips video library)
Want an expert opinion? Check out the latest Free Sports Picks and Best Bets from our team of expert sports handicappers.

Make sure to bookmark all the above!

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Free sports picks allow you to monitor a handicapping service to see how they perform before signing up for a long term package. WagerTalk provides daily free predictions to our visitors so they can find a handicapper that is right for them.

Looking for more free sports picks and sports betting tips?

Latest Betting Odds and Public Action: Vegas lines updated in real time, including who the public is betting on.
Last-Minute Handicapping Advice: Check out our extensive library of handicapping tips and advice from professional Vegas handicappers (we also recommend taking the time to look over our sports betting tips video library)
Want an expert opinion? Check out the latest Free Sports Picks and Best Bets from our team of expert sports handicappers.