There is nothing in the world more popular than sports. In every culture, sports makes up a major part of our identity. They have the ability to unite us, to excite us, and for some fans they even offer a chance at monetary gain.
When we talk money we are talking, of course, about sports betting. Wagering on sports is a time honored tradition in countries around the world. It can be as simple as betting a friend a beer that your team will beat his, or as complicated as you want to make it.
In this article, we are going to outline some tips and information for those who are just starting to bet on sports. We can’t all be expert punters right away, so it’s worth it to read up and build a solid foundation before you start betting on a regular basis.
Sports betting tip for beginners
Before we get to anything else, let’s talk about your bankroll. Too many beginning sports punters get over their heads when it comes to the money they play with. When you are just starting out, be mindful of your budget. Don’t ever bet more than you can afford to lose, either in a day or over the course of a season. It will take you at least a season to become familiar with sports betting, and until then you will come out negative as far as the spending scale. So start out small!
Understanding the numbers
Sports books, or the businesses who make the odds, take your money, and pay out winning bets, use specific layouts when presenting betting information. All the books keep this information the same, so that once you learn to read the numbers in sports betting you can bet at any book.
For team sports, all bets are laid out based on $100. If there is a negative sign in front of the amount, that is how much money you will need to bet in order to win $100 if your team wins. So, the line (the money amount) may read -170. This will mean that in order to win $100, you have to pay $170 (and of course the team you bet on has to win).
If an amount has a positive sign in front of it, that indicates how much money you can win on a $100 bet. Betting on a team with a +110 beside it will mean that you will win $110 for every $100 that you bet.
What about favorites?
In the examples we used above, the favorite team is the one with the negative sign in front of it. Most people new to sports betting make one or two common mistakes when it comes to favorites:
oBelieving that “favorite” indicates chances of winning: Having a team listed as a favorite does not mean that they are the better team, necessarily. All it says is that more people are 222bet betting on that team than the other team, known as the underdog.
oPicking your favorite: Almost all new sports bettors make the mistake of betting with their hearts instead of their heads. If you love a team, it’s best never to bet on games involving that team.
In sports betting, it will always cost more money to bet on the favorite. This is because the sports books want to balance the action, or get people to bet on both sides. That way, they stand to make more money.