Looking for useful tips on sports betting for beginners? Although each sport is different, the fundamentals are pretty much the same. Familiarizing yourself with the basics can improve your winning rate while minimizing you losses.
Odds are chances. They tell the punter how much he must risk against how much he stands to gain. Bookmakers typically offer fractional odds that an event will NOT occur. For example, if the odds for an outcome are 13/2, there are 13 chances that it won’t happen to 2 chances that it will. You must therefore risk $2 for a $13 return. Betting exchanges tend to give decimal odds. For example, 2.7 means that a $100 bet stands to make a $270 return.
It’s worth a mention that while sportsbooks set their own rates and you bet against the House, betting exchanges are platforms for peer-to-peer betting. Bettors can choose to either back or lay an event. Exchanges generally offer more favourable odds than sportsbooks.
The most popular way to bet at fixed odds is on the money line. A handicap is placed on the stronger team, making both sides equally profitable gambling opportunities in the eyes of the sports bettor. An example of a money line is:
Team X +150
Team Y – 160
The plus sign (+) tells us that Team X is the underdog. You must therefore stake $100 for a $150 return. The minus sign (-) indicates that Team Y is favoured and so a $160 stake will yield a $100 pay out.
Spread betting is more complicated. Like the money line, a handicap is placed on the favourites, giving wagers on the underdogs more opportunities to win. More accuracy is required of the bettor; however, because he must also wager on the margins by which a team wins. An example of a pointspread is:
Blues +7
Reds – 7
Bets on the favourites (Reds) will be paid if the Reds win by 8 points or more. Wagers on the underdogs (Blues) will see returns if the Blues win or if the Reds win by less than 7 points.