Welcome to our comprehensive guide to sports betting for beginners. In this guide, we’ll walk you through the fundamentals of sports betting, covering essential topics like the different types of bets available, how to assess risk, and how to place a wager with confidence.
On top of that, you’ll find valuable sports betting tips to enhance your experience and boost your chances of success. We’ll also highlight the best online sportsbooks for beginners. Whether you’re a total newbie or looking to brush up on your skills, our sports betting guide will help.
There are plenty of sports betting guides out there, but very few start with the fundamentals. We’re here to change that. If you’re looking for a guide that focuses solely on betting on sports for beginners, you’ve come to the right place.
Before you even start thinking about placing your first wager, you need to be aware of the basics. Once the foundations are set, you’ll be able to bet with conviction. Let’s look at how to read sports bets, the different types of wagers, and the different ways to bet on sport.
All the best online sports betting sites have a traditional way of displaying wagers and odds. Whether you’re betting on an NFL game or a Premier League soccer match, you’ll find odds for both teams, representing their chances of winning.
Here’s an example of one of the most basic wagers in sports betting – the moneyline:
In this instance, the Kansas City Chiefs and the Baltimore Ravens are facing each other in the NFL. The Chiefs are priced at -150 to win the game, while the Ravens priced at +125. The negative odds make Kansas City the favorite, while the positive odds make Baltimore the underdog.
These odds are based on a $100 wager. The positive number (+125) shows how much profit you would make on a $100 bet ($125). On the other hand, the negative number (-150) shows how much you would need to wager in order to make a $100 profit ($150).
The top online sportsbooks in the USA use American odds, but other odds formats are used around the world. Here’s some information about the most common odds formats and how to read them:
There are dozens of different sports bets to choose from. However, beginners don’t need to worry about the vast majority of obscure wagers. If you’re just getting started, we recommend sticking with the easiest and most popular bets before branching out.
Now that you’re familiar with the common types of sports bets, it’s time to discuss the different ways you can wager on sport. Most of the bets in the previous section can be used to wager like this:
Hedging involves placing additional wagers on different outcomes in the same event. This method can be used to minimize potential losses or ensure a profit regardless of the result. It is worth noting that hedging is not the easiest strategy to master, so we suggest starting with simpler methods.
Like hedging, handicapping isn’t always associated with sports betting for beginners. But it’s an important skill to learn. Handicapping involves delving into the statistics, trends, form, and other factors behind an event. Bettors can then utilize these numbers to make more informed decisions.
Not only can you place wagers on a game or event before it begins, but you can also place in-play wagers on live action. This type of betting serves up real-time odds that change as the action unfolds, allowing you to predict factors such as the next team to score or the next player to score.
A large part of learning how to bet on sports for beginners is about risk assessment. If you can learn how to look at a list of wagers and decide which ones are best to steer clear of, you will only increase your chances of winning money.
It’s important to remember that bets such as parlays are far riskier than single moneyline wagers. For a moneyline bet to be successful, you only need one team or player to win. By contrast, for a parlay to be successful, you need to rely on multiple selections winning.
Ultimately, familiarizing yourself with the different types of sports bets will help you differentiate between riskier and more favorable wagers.
Getting Started with Your First WagerIn this section of our guide to sports betting for beginners, we want to show you exactly what it takes to place a wager. If you’ve never placed a sports bet before – don’t worry! Our step-by-step guide walks you through each part of the process.
The first thing you need to do is choose a sport, league, or event to wager on. For beginners, we recommend choosing a sport that you’re familiar with. The more you know about a sport and its players, the more likely you are to make informed and successful predictions.
Once you’ve settled on a sport, it’s time to select your wager. As we already mentioned, there are many types of wagers to choose from. We advise first-time bettors to opt for straightforward wagers like moneylines, as these bets are typically the easiest to understand and predict.
Your first bet is almost ready! But before you confirm your selection, you need to decide how much money you want to wager. We recommend starting with a small stake. Make sure the potential payout offers decent value, but only gamble what you can afford to lose.
You’ve chosen a sport, selected a wager, and entered your stake. Now, all that’s left to do is lock in your bet. Check all the details of your wager and click the ‘Place Bet’ button to confirm.
Our comprehensive reviews of online gambling sites enable us to find the best sportsbooks for beginners. All our top-rated betting sites are great for newbies, but the following recommendations go above and beyond to help beginners.
BetUS has been helping novice bettors since 1994, meaning they boast three decades of experience in the industry. Their easy-to-use sportsbook covers a wide range of sports, leagues, and events. BetUS also has tons of bonuses and promotions for both new and existing customers.
Read our BetUS review
Newcomers can start betting at Bovada with a minimum deposit of just $5, and you can withdraw as little as $10 from your account. Better still, Bovada has one of the most beginner-friendly sign-up offers in the industry, as their 50% Sports Welcome Bonus has a super-low 5x wagering requirement.
Read our Bovada review
BetOnline boasts an unrivaled range of banking options. New customers can deposit funds via Visa, Mastercard, AMEX, wire transfer, and 18 different cryptocurrencies. They also offer generous promotions and contests across a variety of sports, in addition to first-rate customer service.
Read our BetOnline reviewIt’s time for us to share our favorite beginner tips for sports betting. It feels like the internet is awash with sports betting tips these days, but a lot of the advice you find online doesn’t come with any credibility.
With that in mind, we have compiled a list of five general sports betting tips that will help any novice find their feet.
It’s important to set a budget before you begin your sports betting journey. Put a certain amount of money aside for your wagers, and never gamble more than you can afford to lose.
Similarly, starting with small bets will help you avoid financial problems, minimizing the risk of big losses. Begin by placing sensible wagers on your favorite sports. This will help you develop your strategy without having to worry about breaking the bank.
You’ve found the bet you want to place, but are you sure you’re getting the best odds possible? Different sportsbooks offer different odds for the same events, so it’s vital that you shop around to find the best prices for your wagers.
Even the smallest odds variance can make a big difference to your profits over time. If you make a habit of checking multiple sportsbooks every time you want to bet, you will reap the rewards in the long run.
Don’t just look at the bookies’ odds and back the favorite every time. Instead, carry out your own research on each team or player and make an educated prediction based on your analysis.
Studying the numbers behind a sports matchup can significantly enhance your chances of landing winning bets. By gathering information like stats, trends, and form, you can find value and reduce the element of luck.
We all have our favorite sports teams, right? While wagering on the team you support may seem like a good idea, it can often lead to biased betting. This is why it’s important to bet with your head and not with your heart.
Of course, you will know more about your favorite team than others. But this doesn’t always mean that you’ll have the upper hand over the bookies. Therefore, we suggest removing any emotional attachment when it comes to betting in sport.
Keeping records of your bets will help you track your results over time. By monitoring your wins and losses, you can manage your bankroll effectively, keeping you disciplined throughout your sports betting journey.
Tracking your wagers can also provide you with insights into your betting patterns, identifying strengths and weaknesses in your strategy. This will allow you to develop more profitable and sustainable strategies.
Our sports betting guide for beginners would not be complete without highlighting the dangers of gambling addiction. Betting on sport is supposed to be an enjoyable pastime, but for some people, it can become more than a hobby.
If you think you might be addicted to betting, or you have a friend or family member who’s a problem gambler, we urge you to make use of the following resources.
We hope that you found our guide to sports betting for beginners useful. Now that you’re familiar with the fundamentals, you can use our tips for sports betting to support your wagers.
Whether you’re betting at land-based sportsbooks, commercial betting sites, or offshore sportsbooks in the US, be sure to keep our sports betting tips in mind. Good luck! We’re rooting for you!
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