Sports betting is the activity of predicting sports results and placing a wager on the outcome. Sports bettors place their bets with a bookmaker, either online or at a brick-and-mortar sportsbook. CMD368 is one such website where you can bet on sports.
The first known instance of some people gambling on an athletic contest was recorded in the 3rd century BCE when Roman speculators placed bets on chariot races. Right now there are thousands of sports bettors worldwide who participate in legal sports betting each year.
Sports betting has turned more prevalent nowadays than it ever has since it developed out of its old age stereotypes to be well known among the general population. Sports betting is presently taking pleasure in continued growth throughout different areas such: mobile phones, interactive television, and live in-play betting. Sports betting is a billion-dollar industry and growing.
Why is Sports Betting Different Than Gambling?
Sports involve two or more teams playing against each other at any given time, meaning that one team could theoretically win and the other could lose. In gambling, there is always one winner (the house) and one or more losers. Sports betting, in theory, allows for more even odds because you’re betting on a team to win rather than a particular outcome.
For example, if you bet $10 on Team A to beat Team B, your potential payout (should Team A win) is $11. If you had instead bet on Team A to beat Team B by exactly 2 points, your potential payout would be $12 (assuming that’s the final margin of victory).
Despite the fact that sports betting might seem like something which just the “experts” can do, you don’t have to be a professional gambler or mathematician to be successful at betting on sports games. In reality, with some basic principles and some practice, anybody could make money gambling on sports.
Here are eight tips for beginners on how to start betting on sports:
1. Choose a sport or sports to focus your bets on
This may sound like an evident statement but it is important that you focus your bets on particular sports which you understand well. Do not try and spread your bets too thinly across several different sporting events. Rather, focus your bets on a couple of sports that you follow closely and understand the ins and outs of.
2. Do your research
As with any form of investment, it is important that you do your homework before placing any bets. This means studying the teams/players involved in each game, as well as getting a good understanding of the odds and how to read them.
3. Use multiple betting strategies
There is no one “right” way to bet on sports. In fact, employing several different betting strategies can be a good way to spread your risk and improve your chances of making money. Some common sports betting strategies include “point spread” betting, “over/under” betting, and “money line” betting.
4. Bet a percentage of your bankroll
This rule is one that many gamblers ignore. Sports can be exciting, but it’s important to remember that they are also unpredictable and that the house always has the advantage – so putting all your money on one bet should be avoided at all costs.
5. Set realistic goals
It is important to set targets for yourself from the very beginning. Sports betting success doesn’t happen overnight, so you need to have realistic expectations about how much you will be able to win or lose before committing any real money to a sports bet. And never chase a loss!
6. Know the types of bets
There are a variety of different types of bets that can be placed in any given game, and it’s important to know what they all are before you start betting.
The most common are straight bets (betting on the winner of a game), totals (betting on whether or not the total score for both teams will be equal to or greater than a certain number), futures (betting on which team will win the championship before the season starts) and proposition bets (usually involving weird circumstances like how many times a player will get ejected from a game).
Sportsbooks also allow you to bet on things like who’s going to win the coin toss, what color Gatorade will be dumped on the winning coach at the Super Bowl, and even how long it will take for Tom Brady’s suspension to get overturned.
7. Get to know the bookmakers
Every sportsbook is different. Some offer incentives for new customers, others offer reduced juice (the commission charged by the sportsbook for each wager), and some specialize in props or other types of bets. It’s important to understand what any given book offers so that you can choose one that matches your betting style.
8. Remember to take advantage of sign-up bonuses or freerolls
Many books offer generous promotions for new accounts, including bonuses on initial deposits, cashback rewards, and even free bet opportunities. Once you’re comfortable placing simple bets on straight matchups, focus on finding a good book with great perks rather than worrying about which teams are offering the best odds.
Final Note
Now that you know the basics and have some knowledge, it’s time to put what you’ve learned into action. Just follow these simple eight tips for beginners and we’re sure that your results will improve!