Newbies Guide To Sports Betting

As sports betting continues to gain popularity and legality across the nation, it’s okay to admit that it might be confusing to understand. Sports betting has evolved from classic bookies, dealing money down low with friends to easy-to-use apps with featured parlays. Fundamentally, sports betting has remained the same, it’s just how the bets are made have changed. 

 

The most important thing in betting is simple – follow your gut. 

 

The first thing to do is find an easy-to-use betting website or company based on an individual’s needs/wants such as wagers and money limits. I’d recommend doing your research first and finding a company you trust that has a clean reputation. 

 

Now, onto the terms and logistics to help win you some money!

 

A money line is a form of betting where the sportsbook chooses a favorite and an underdog. This creates a line where only two outcomes are possible and sets the framework for bettors. This is the most popular form of betting because there isn’t the handicap of the spread against them. 

It’s very simple, bet on who you think will win. Betting the favorite will provide less return, but a more likely choice. Betting on the underdog means more money won, but less chance of it happening. The bigger the underdog, the bigger the payout. 

 

For example, in game 3 of the NBA 2022 Finals, the Boston Celtics are favorites by -160, according to Ceasars Sportsbook. The Golden State Warriors are underdogs by +140. Betting $160 on the C’s would win you $100 whereas betting the Warriors for $100 would win you $140. 

 

After choosing the money line look at the point spread. Point spread involves the scoring metric for each sport (run, point, goal, etc) and predicts the margin of victory. 

 

For example, in the same game, the spread sits at -3.5 Boston (because they’re the favorites here). Betting in that spread means you think Boston will win by 3.5 or more. The foes from the bay sit at +3.5 (hint, underdogs). If you think that Golden state will either win outright or lose by a smaller margin than that number. 

 

The over/under (seen as o/u sometimes), predicts how many total points, runs or goals, will be scored by both teams combined. A bet on the over means that you think the total score will be over that magic number, and conversely, a bet on the under means that the final combined score will be under. This is a much simpler term. 

 

The o/u for game 3 is 212.5. If you believe the total score will pass 212 points, take the over. If you think the opposite, then take the under. 

 

You can also bet parlays, which in my opinion is the fastest way to bet small and win big. With a parlay, you can select multiple bets, or things you think will happen, and combine them into one large bet. In order to cash out on this bet, everything in the parlay has to happen. 

 

Sticking with the same game, a popular parlay would be Jayson Tatum over 3.5 3’s (+114), Jaylen Brown over 23.5 points (-102), Andrew Wiggins over 16.5 points (+102), and Stephen Curry over 28.5 points (-116)  would be a total of +1460 for the total bet. A $100 bet wins you $1,460. It’s risky considering so many different things have to happen, but when you win – you win big. 

 

A proposition bet is a bet where an event is not tied to the outcome of the game. In some cases,  the bet will be presented with only 2 options such as:

 

“How many 3’s will Jayson Tatum make tonight?”

Over 3.5 (+115)

Under 3.5 (-115)

 

Then, there are other proposition bets that will have multiple answers:

 

“Who will be the leading scorer tonight?”

 

Jayson Tatum (-110)

Steph Curry (-160)

Jaylen Brown (+200)

Any other player (+220)

 

These bets don’t affect the outcome of the game, but simply one thing that might occur during the event. 

 

In-play betting or live bets are bets or wagers that take place anytime after the event has started and before the game has ended. This allows bettors to make bets after watching the game and seeing if the line or probability has changed at all. 

 

Sports betting can be a complicated and intimating hobby to take up, however after reading and catching up on these terms, you should be a pro in no time. It’s important to always double-check every wager you’ve selected before placing money and making sure you’re betting on legitimate websites and apps. Following these tips will take out the stress and allow you to think about your bets!