With sports betting having quickly become a part of mainstream sports culture, millions of fans are looking to make their first wagers. But before you place your first bet, there are some things you should know. Here are 12 of the most important things to consider if you’re new to betting on sports.
1. Know the Different Types of Bets.
There are many ways to place a bet on sports, including straight bets, moneyline bets, and over/unders. Straight bets are the most basic type of bet, where you simply select which team or event will win. A moneyline bet is based on the implied probability of a result, with low-risk bets (like favorites) paying out smaller returns than higher-risk bets (underdogs).
Over/Under bets are based on the total number of points scored in a game. They can be made on both teams or individual players, and the amount of money paid to win a bet will depend on how much you risk. The oddsmakers set these bets by examining previous game data and analyzing statistical trends. They also take into account the weather conditions, player injuries and other factors that might affect a game’s outcome.
The best way to make money is by following a strategy and doing your research. Taking the time to study the game and the unique circumstances of each match will help you make better decisions. It’s also important to be realistic and remember that you won’t become a sports-betting savant overnight. In fact, less than 5% of long-running betting accounts are profitable.
2. Learn the Terms.
The language of sports betting can be confusing for novices, but with a little effort you’ll find it much easier to understand. Start by learning the definitions of common sports betting terms, such as “favorite” and “underdog.” Then move on to more detailed bet types, like spreads, over/unders, and props.
3. Avoid Emotional Betting.
A major mistake that many people make when betting on sports is betting with their heart instead of their head. This is a big mistake that can lead to you losing money in the long run. You need to be able to look at the numbers and the unique circumstances of each game and refrain from betting on teams because you’re a fan. It’s also important to respect the market and not chase bets when they go against you.