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A Beginners Guide to Online Sports Betting

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Introduction

Online sports betting has experienced a massive uptake over the past few years. It can be defined as placing a wager on the outcome of a particular sporting event. The stigma associated with betting has slowly faded away as the younger generations take over.  The prevalence of mobile connectivity and the cheap rates for internet access have added to the ease of reach of online sports betting.

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The Covid-19 pandemic also has its mark on wide-spread acceptance of online sports betting. The stay-at-home measures instituted by most governments freed up time to engage in this activity. Some families have actually identified online sports betting as a source of income to cater for day-to-day needs. Point Spread Betting has become common ground for professional bettors as will be discussed in this article.

The first step towards sports betting is to understand the basics. For a beginner, it is fundamental to look for online sports basics through an online course or tutorial. There are loads of free resources all over the internet. Most online sports betting platforms also offer a demo version of your account. Familiarising oneself with the platform and how it works does not come at the risk of losing capital.

Components of a Bet

The following are the three components of a sports bet, especially important for the novice to learn:

a) Selection

The main point of the bet is to select a sports team to have a particular outcome at a sporting event.

b) Stake

This is the amount of money one is willing to bet. Some sportsbooks and casinos have a minimum stake and a maximum stake. This means that one is allowed to place bets within this range.

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c) Odds

Odds refer to the likelihood of an outcome to occur. If the odds of the Springboks player to make a try is 1 in 5, this means that for every 5 attempts the player makes, he will succeed once. Sportsbooks however, pay more if the less likely outcome occurs.

Understanding How Sports Betting Works

Understanding How Sports Betting Works Springboks player

In the world of sports betting, odds will determine whether the wager is worth making or not. Odds, at the time offered will impact how much you win. You stand to win more with higher odds. They will also reflect the likelihood of a particular outcome happening. The more likely an outcome, the lower the odds, and the lower the amount expected to win.

In Europe and the UK, Odds are usually represented as either a fraction (3/1) or a decimal (2.0). The American way, also known as the moneyline, is a number with a plus or minus side in front of it (+6.5).

Placing an Online Sports Bet

The following are the steps to follow for a beginner:

1. Pick a trusted betting site

Also known as a sportsbook, this is a company that accepts bets from individual sports bettors. Once you have found positive reviews on different forums on a particular site, fund it. Start small as you continue to garner experience, gradually increasing the figure as you get better. Research keenly on the security of your funds, the payment speed and mobile compatibility of the online platform.

2. Selecting a Bet

The following are betting options for beginners to familiarise themselves with:

  • Moneyline bets

This is a wager that one team or player will beat another. A win will have the sportsbooks return the stake together with the winnings. The sportsbook keeps the stake in case of a loss. The stake will be returned by the sportsbook if there is a draw.

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  • Point Spread Betting

As the most popular form of sports betting in the United States, it presents an opportunity to bet money on athletes or teams matched up by assessing their relative skills/strengths against each other. It is designed to create a level playing field between the two teams for potential bettors.

Point spreads betting has been hailed as the great equaliser when comparing teams. Point spread betting is predominantly used for high scoring sports like football and basketball.

3. Set a Budget and Stick to it

The thrill that comes with online sports betting can be quite exhilarating. Caution should be taken to keep these emotions in check. It is wise to review a bankrolling strategy that will match your style; whether conservative, aggressive or somewhere in the middle. Set minimum and maximum limits for bets of a certain nature depending on your criteria.

Conclusion

To be a successful online sport bettor, set a betting strategy that will give you a checklist to make every decision. Discipline to stick to the required modus operandi will reduce mistakes and shorten the journey guru betting status.

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