In the world of betting, the Big Game is always coming up soon.
Whether it’s football, basketball, racing or fighting, there’s always something important that you can win or lose some money on.
Everybody knows that sports betting happens. However, not everyone knows how sports betting works.
Do you? If not, we’re here to help. Here’s the basic information you’ll need to get involved in the world of sports betting.
Where it’s OK, and Where it’s Not
The first step to learning how sports betting works is to understand where it happens and where it doesn’t.
It all depends on where you are.
In some places, it’s legal: in many developed countries in Europe, Australia, Asia and the Americas, people spend hundreds of dollars every year trying to gamble into some extra cash.
Other countries around the world have outlawed it. That doesn’t mean it doesn’t happen: in China, for example, sports betting still happens behind doors that aren’t always so closed.
In the United States, sports betting is illegal in many states. There are a few exceptions, including Las Vegas.
The United States Congress is currently reviewing changes to sports betting laws in such fast-changing technological times.
So, if you want to get in the sports betting world, it’s important for you to stay up to date with where you’re allowed to do it.
And, when you’re doing it, it’s important to know what you’re talking about.
How Sports Betting Works: Learn the Lingo
The first step to understanding how sports betting works is to understand the words people use to talk about it.
Once you have a handle on those, everything else will make much more sense.
Some of the most obvious examples are not that intuitive. A handicap, for example, refers to the assumed edge that one side of a competition will have over the other.
If the New York Knicks played a children’s basketball team, the Knicks would have a handicap. That means you could still bet on the Knicks, but you would make much more money on a successful bet on the kid’s team.
Sportsbooks and bookies refer to establishments and people that you bet through. They facilitate the process by letting you bet in a more formalised and secure setting.
There are all kinds of language that people are around the world use when describing betting. It’s important for you to know the relevant vocabulary
However, some words are more common than others.
Use the Spread
The spread is one of the most common terms in the sports betting world.
The spread, very important in refers to a number established before any game or match. Like the handicap, it compensates for a perceived mismatch between teams.
If a team is favoured to win, the spread will go in their favour. Obviously, the worse team will have the spread going against them.
A common bet revolves around the spread. If you bet against the spread, your winnings will be bigger.
A case study proves that the spread isn’t always so accurate. Before Game 6 of the series between the Washington Wizards and Boston Celtics, for example, the spread was Washington -5.5, which means that the Wizards were expected to win by 5 or 6.
That spread didn’t play out in reality. Instead, the Wizards were down the whole game and barely squeaked out a victory on a last second shot. That means you do have some prospects when betting against the spread.
The spread’s best friend in the Money line.
The Money line
In sports where points are too few to make a spread, the money line is used.
If you bet on a baseball game, for example, you could put down 50 dollars on a given outcome. If your outcome happened, you’d get back your 50 bucks doubled. If not, you’d lose those bucks.
If that sounds simple, step back–there’s still plenty to learn.
You’ve Got More Kinds to Learn
There are dozens of kinds of betting that are employed depending on the sport being played. It’s not your job to know all of them.
But it is important to know which one you’re dealing with. Or else, you’ll end up confused and on your way to losing money.
OK…What’s Good to Bet on?
Wherever there are two outcomes in an event that is remotely competitive, there is betting.
It makes sense, then, that sports betting is involved in every kind of sport. Usually, the most bet-on sport is the most popular within a country. That popularity means it has the highest amounts of money flowing through it.
In England, for example, football and tennis tend to take the top two spots.
So, any interest in watching a match?
In the US, American football is number one.
You could always venture into a sport that is less well known. If you don’t already know them, you could read up on the rules of table tennis and start betting on matches.
It really is important to know the rules completely before you embark on a sports betting mission.
You can always stick to what you already know. It’s your decision to bet on what you want, for as long as you want.
With your new knowledge of how sports betting works, you’ll be able to hop right into the fold. You’ll be more prepared than the vast majority of sports fans who check out betting lines and talk up a big game.
Still, it’s important to remember that you’ll need a bit of luck on your side to really hit it big. If you keep making the same strategies and they’re not working, you could end up losing a fortune.
You might not lose a billion euros like an Australian man did back in 2013. But you could still lose some, which won’t feel great.
It’s important to switch up your games and style of betting to stay fresh and keep lady Luck on your side. Plus, you should refer to betting tips before laying down a chunk of change.
And maybe take the occasional break every once in a while.
Still, you’re much more prepared than before to take on the world of sports betting. Continue reading the blog to find out more information on sports betting.
Good luck (seriously)!