A Beginners Guide to Sports Betting

Beginner's Guide

For many sports fans, placing a bet is an enjoyable and exciting way to enhance watching the action but, before you start betting, there are some key things that you need to know.

In our sports betting guide, we’ll walk you through how to start your sports wagering journey, including what you need to look for in a sportsbook, some key terminology to understand plus beginner tips to help form your strategy.

🔍Find the Best Sportsbook
✍️Understand Terms and Rules
☎️Consulting Expert Picks
💰Create a Budget
📈Tips and Strategies

Find the Best Sportsbook

The first step to placing a sports bet is to find the right sportsbook to do it. Not all betting sites are created equal, so how do you differentiate between the good and the bad?

There are several things that you should consider before choosing a sportsbook, which we’ll explain in this section. If you're interested in learning more about the best sportsbooks available now, click here!

Banking Methods

The best modern sportsbooks offer a wide range of deposit methods, including bank cards, wire transfers, e-wallets and even cryptocurrencies.

As well as the variety of options, it’s important to consider other aspects, such as deposit and withdrawal times as well as whether the sportsbook charges transaction fees.

Bonuses and Promotions

Before joining any sportsbook you should compare how their welcome bonus stacks up against competitors. Some betting sites have far more generous sign-up promotions than others.

It’s also worth checking whether they regularly offer bonus incentives to existing customers, as free bets, referral bonuses and rebates can make a significant difference to your overall bankroll.

Betting Options

There’s no point joining an online sportsbook unless the sports, competitions and markets that you want to bet on are available.

The best sportsbooks offer a huge range of betting options and unique markets, which will keep the experience fresh and varied.

Odds Shopping

Odds on the same event can differ quite significantly from sportsbook to sportsbook, so it can really pay to shop around and pick the site that offers the most competitive price on each bet. It’s advisable to open accounts at multiple betting sites and to check each time you place a wager. In the long term, this practice will significantly improve your betting figures.

Safety and Security

Arguably the most important aspect of any sportsbook is knowing that your information is secure and that your money is in safe hands. You should check that the sportsbook has a reputable license, is SSL encrypted and has positive feedback from other users across social media, forums and review websites such as Trustpilot.

Customer Service

With any luck your betting experience will go smoothly and you won’t need to contact the sportsbook. However, even at the best betting sites things sometimes go wrong and that is when efficient, responsive customer service is key.

Check which customer care options your chosen sportsbook offers. The best sites will allow you to contact them through telephone, e-mail, live chat and more, in addition to providing a comprehensive FAQ section.

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Understand Sports Betting Terms and Rules

Betting on sport, at a basic level, is straightforward but there are certain things that you need to know before you get going. If you want to become a successful bettor and avoid getting caught out by the terms of conditions, then familiarizing yourself with them first can make a difference. Most online betting sites will have informative FAQ sections and dedicated pages explaining their terms and conditions. However, these rules are not standardized throughout the industry and can vary by site.

As an example, one of the most popular markets to bet on in ice hockey is the two-way moneyline, which simply asks you to predict which team will win the game. However, as ice hockey can result in a tie at the end of regular time, which isn’t a betting option within the market, it’s important to understand what happens when this eventuality occurs.

Some sites choose to settle the market as a push, a term that means that all bets are voided. Others, however, settle the market based on the score at the end of overtime.This is an example of a market-specific rule that you should understand before betting your money.

Additionally, there is a huge range of gambling terms that you’ll encounter and will help you to understand betting on a deeper level. We listed some basic examples below but there are many more:

Favorite. The team or player most likely to win an event based on the odds.
Moneyline. A bet on which competitor will win the event in question.
Point Spread. A betting market that applies a theoretical handicap to the favorite, in order to make a contest even to bet on.
Push. When an event, either a moneyline or point spread, ends in a tie and stakes are refunded.
Over / Under. Sportsbooks offer ‘totals’ markets that predict whether a point or goal total will be higher or lower than a specified number, known as a line. You must choose whether you think the score will be higher (over) or lower (under).
Parlay. A combination of bets on multiple sporting events, in which the odds accumulate as each selection wins. Also known as an accumulator.
Hedging. Placing a bet on the opposite side of a market to the one which you have already wagered on. Hedging can be used to minimize losses or guarantee a profit.
Future. A bet on a long-term outcome that is typically separate to a single game or event. For example, who will win the Super Bowl or become the next president.

Consulting Expert Picks

If you are new to betting, it might be a while until you are confident and knowledgeable enough to regularly beat sportsbooks and become profitable. A very useful shortcut to help you unearth winning picks is to follow expert tipsters.

There are a huge number of free and premium tipsters available on the internet, which can be found through internet searches, forums, or by social media. The best tipsters will stick to a single niche that they know well and will display their long-term profit and loss figures for transparency. Beware of any that don’t. Be sure that you read feedback from their followers before trusting a tipster, especially if you opt to pay for premium selections.

Create a Budget and Practice Responsible Gaming

The number one rule of sports betting is that it should be fun and recreational, it should never be done because you need money. This can be easy to lose sight of and, therefore, deciding upon a strict budget to adhere to is a vital part of responsible gambling, particularly at the start of your journey.

Think of betting as a recreational hobby and always plan for the worst-case scenario, that you will lose. Consider how much you can afford to lose in a given month without it affecting your personal circumstances or mood in any way. That is the maximum that you should commit to spending and, even then, you should try not to go near that amount. Stick to staking conservative amounts on small, fun bets until you gain more experience. Expect to lose and regard it as an unexpected surprise if you win.

If at any point your mood, behavior or mental health are affected by betting, or if you’re tempted to bet more than your budget allows, then you should stop immediately. If necessary, seek help from a loved one or call the National Problem Gambling Helpline at 1-800-GAMBLER, who can offer further support.

Tips and Strategies to Become a Successful Bettor

With any luck, gambling won’t become a problem for you and you may even be able to make some money doing it. However, for that to happen you need a strategy. Here’s our beginner tips for successful gambling:

Research. Whether researching a successful tipster or your own picks, make sure that you take the time to do the proper groundwork before placing your bet. Betting on a hunch is a recipe for failure.
Compare odds. Some sportsbooks offer better odds than others, make sure you check who has the biggest price before placing your wager.
Take advantage of promotions. Sportsbooks try to outdo each other by offering generous bonuses to attract and retain bettors. These can be rewarding at little risk, so use them when you can.
Start with moneyline bets. There are some complicated markets available that take a level of understanding. To begin with, bet on the moneyline which is simple to understand.
Use head over heart. Blindly backing the teams that you support is understandable and commendable but, ultimately, successful betting requires a cool head. Let logic dictate your wagers, not emotion.
Find a niche. With so many sports, competitions and markets available to bet on, it can be tempting to try them all. You’ll be far more successful, however, if you find an area of expertise and stick to it.
Practice bankroll management. As well as sticking to a budget, you should understand that not all bets are equal. Create a ranking system for your bets to judge how much you trust them and stake accordingly. You should also factor in how long the odds are, as naturally greater odds mean a smaller chance of winning.
Keep a record. Write down all of your bets, keeping track of profit and loss. This is a good indicator of how well you’re doing in the long term, whether you’re improving as a bettor and whether your betting behavior is stable.