Win It Big: The Basics of Sports Betting – TalkBasket.net

Did you know that the Tour de France is the most watched sporting event with 3.5 billion viewers?

Sporting events make up the majority of TV broadcasts because people around the world enjoy cheering for their favorite athletes and teams.

If you want to add even more excitement to watching sports, try betting on sports! Before you get started, youll want to learn the basics of sports betting.

Keep reading to learn everything you need to know.

We cant talk about the basics of sports betting without getting into favorites vs. underdogs. Oddsmakers release betting lines on a game and decide which team is the favorite and which is the underdog.

The favorite team is most likely to win the game. They will have a minus sign next to their odds line and the underdog will have a plus sign.

Using the NFL as an example, heres what the odds could look like:

In this scenario, the Eagles are the favorite to win and the Lions are the underdog. Betting the Eagles moneyline is the safer bet, but youd win more money betting on the Lions if they were to pull out the win.

Moneylines are the easiest way to bet on the favorite or underdog. A moneyline requires the bettor to pick the winner of the game.

American odds are used to calculate the payout amount. They are centered around winning $100. For example, if you are betting on a -200 favorite, youll have to risk $200 to win $100.

Here is another NFL moneyline example:

The Colts are favored so if you bet $37.50, you win $10. Since the Texans are the underdogs, a $10 bet wins $30.

Moneylines are available for all sports and are one of the most common betting options.

You can bet on a favorite or underdog through spreads. The point spread refers to a bet on the margin of victory.

Spreads are common in higher-scoring sports like football and basketball. In soccer, youd bet on goals instead of points. In baseball, the spread refers to runs instead of points.

Lets start with a football example:

The Chiefs are a -4.5 favorite over the Chargers. This means that anyone betting on the Chiefs needs them to win by five or more points.

If you bet on the Chargers, they cant lose by more than five points. If they win the game, you also win the point spread bet.

Now, lets look at a baseball example:

Since baseball is a low-scoring sport, the point spreads are going to be lower. If you are betting on the Yankees, they need to win by two or more runs.

If you bet on the Red Sox, they cant lose by more than two runs, or they need to win the game. In this example, the Yankees are the favorite to win.

Oddsmakers set a total number of points scored in a game by both teams combined. This is generally referred to as over/unders, but might be called the total.

Bettors will wager whether or not the games total points will go over or under the total. This is different from guessing the exact score, but this bet is available in most sportsbooks as well.

Here is an example of how a football over/under bet would look in the TOTAL section of a sportsbook:

Lets say this is the odds line for the New York Jets and the Cleveland Browns. Both teams must score 41 points combined for the over to win. For the under to hit, the teams cant score more than 40 points combined.

You can bet over/unders on more than just point totals. These are some examples of over/unders you might see on sportsbooks:

If you want to bet over/unders on college football, visit this website for odds: https://www.oddstrader.com/ncaa-college-football/.

With some bets, besides moneylines, youll see two numbers. For example, you could see a spread bet of -4.5 and the odds below it. The same goes for over/unders.

The spread refers to the margin of victory that the team needs to win by. For over/unders, the totals are the amounts a team needs to reach combined.

The odds, for example, -110, is the price you need to pay to make that bet. Most NFL spreads are usually -110 on both sides, but this is not always the case.

Using the example from above, well go over what it means when the odds arent the same:

The lower number is the tougher bet to win. If you bet the Chargers spread, youll need to spend $11.40 to win $10. If you bet the Chiefs spread, youll only need to spend $10.60 to win $10.

If the odds are the same, -110 on both spreads, youll spend the same amount to win a certain amount no matter the spread you choose.

Moneylines, spreads, and over/unders are the basics of sports betting, but props are also important to learn about. These special bets are fun to place but harder to win in most cases.

Serious bettors leave prop bets alone because there arent a lot of statistics that go into the winnings.

Prop bets are wagers on specific aspects of a game that dont have an impact on the final outcome. Here are some examples of prop bets you might come across:

A lot of prop bets are yes or no questions. These examples are small selections as there are multiple kinds of prop bets that different betting sites offer.

Futures/outrights are wagers on the winner of a competition, tournament, or league. You can make futures bets right now on the 2023 Super Bowl winner since the start of the NFL regular season just began.

Other examples include:

These are typically long-shot bets because they are made so far in advance.

Parlays involve making more than one selection. Instead of betting on a single wager, you can combine these wagers. Doing so makes the odds higher and can generate a bigger payout if you win.

For example, you can combine moneylines from different NFL games. You can also combine wagers from different sports and different bet types.

Wagers like this are hard to win because you have to get every selection correct. If a single selection is wrong, you lose the entire bet.

Some sportsbooks and websites allow you to round-robin parlays. This means you can still win money if one or more selection loses depending on the wager you make.

Doing this costs more initial money and comes with a lower return than a regular parlay.

Once you find a sportsbook that you like, sign up, put money in your account, and find the bet you want to place. Most sportsbooks make this process simple.

Find your desired game and bet type through the available tabs. Click on the bet you want to make and it will populate in your bet slip. You can click on multiple bets if you want to create a parlay.

From there, enter the bet amount, and submit your bet.

Lines and odds vary depending on the sportsbook or website you use. If you have access to more than one sportsbook, you can shop around for the best line.

Although odds dont usually vary drastically, getting an extra half-point can add up over time.

Sports lovers and investors who just want to make some extra money can enjoy sports betting.

Understanding the basics of sports betting will help you make the right wagers and decisions.

Moneylines, spreads, and over/unders are the most popular types of bets. However, props, futures, and parlays can help you accumulate big money if you make the correct prediction. Find your preferred sportsbook to start winning it big! For more informative articles like this, check out the other posts on our blog.

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Win It Big: The Basics of Sports Betting - TalkBasket.net