How to Bet on Sports for Beginners: 12 Must-Know Tips 

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May 29, 2023
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Over the past few years, sports betting has skyrocketed from the shadows to become a sensation! The era of taboo and anti-betting sentiments has vanished, paving the way for a mind-blowing, billion-dollar legal sports betting industry. With sports betting now a legal thrill in most places, millions of eager sports fanatics are itching to join the wagering frenzy for the first time. But hold on, where should you start if you’re new to the game?  Don’t worry – get ready to level up your knowledge with these 12 tips on sports betting every beginner needs to know

How to Bet on Sports for Beginners: 12 Tips

If you’re a newbie to sports betting or taking your first shot at it, it’s wise to grasp the basics before jumping in headfirst.

This beginner’s guide will walk you through everything you need to know about betting on sports. From unraveling various types of sports bets to:

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  • Understanding betting odds
  • Decoding betting lines
  • Familiarizing yourself with sports betting jargon
  • Mastering the art of bankroll management
  • Selecting the best sportsbooks for your wagers

With this simple and comprehensive guide, you’ll be fully equipped to dive into the thrilling world of sports betting with confidence!

1. Favorites vs. Underdogs

When it comes to sports betting, you’ll often hear about favorites and underdogs. But what exactly do these terms mean? Well, let’s break it down for you. 

In simple terms, a favorite is the team or player that is expected to win the game or match. They have a higher chance of winning according to the oddsmakers. On the other hand, an underdog is the team or player that is not expected to win. They have a lower chance of winning, but if they do, it can lead to bigger payouts. 

So, when you’re placing a bet, you can choose to bet on the favorite for a safer bet with lower potential winnings, or take a risk and bet on the underdog for a chance to win big if they come out on top. It’s all about understanding the odds and deciding where you want to place your bet!

2. Point Spreads

A point spread is a number set by oddsmakers that aims to level the playing field between two teams. It’s like a handicap, where the favorite team starts with a negative number, while the underdog has a positive number. 

For instance, if you see a point spread of -7.5 for Team A against Team B, it means Team A needs to win by more than 7.5 points for you to win your bet on them. On the other hand, if you choose Team B, they can either win the game or lose by less than 7.5 points for your bet to be successful. 

So, point spreads add an extra layer of excitement and strategy to sports betting, allowing you to wager on teams not just to win but to cover the spread as well.

3. Moneylines

When you see a moneyline, it represents the odds assigned to each team to win a particular game or event. Instead of dealing with point spreads, moneylines focus solely on the outcome. A positive moneyline indicates the potential profit you could make by betting 100 on an underdog. 

For example, if you see a moneyline of +200 for Team A, a successful 100 bet on them would earn you 200 in profit. On the other hand, a negative moneyline represents the amount you would need to bet in order to win 100. So, if you spot a moneyline of -150 for Team B, you would need to wager 150 to earn a profit of 100. 

Moneylines provide a straightforward way to bet on the team you believe will win, regardless of the margin of victory.

4. Over/Unders

Let’s explore another exciting aspect of sports betting: over/unders, also known as totals. This concept allows you to bet on the combined score of both teams participating in a game. Instead of focusing on which team wins or loses, you predict whether the total score will be over or under a specific number set by the oddsmakers. 

For example, if the over/under for a basketball game is set at 200 points and you bet the over, you’re wagering that the final score will be more than 200 points combined. If you choose the under, you’re expecting the total score to be less than 200 points.

 Over/unders provide a different perspective on the game, as you’re not tied to a specific team’s performance. It adds an extra layer of excitement, especially when both teams have a strong offense or defense. Keep an eye on the statistics, team styles, and previous scoring trends to make informed over/under bets.

5. What Does -110 Mean?

If you’re new to the world of sports betting, you might come across the number 110 quite often. What does it mean? Well, in sports betting, 110 is a common representation of the standard or default odds for a bet. When you see a line with -110 on either side, it indicates that you need to wager 110 to win 100 in profit if your bet is successful. 

This is the standard format used by bookmakers, and it helps ensure a balanced betting market. The -110 odds indicate that you’re betting on an outcome with a roughly 50% chance of happening. It’s important to note that the odds can vary depending on the sportsbook and the specific matchup.

So, when you see the number 110 in sports betting, remember that it’s a standard reference point for the amount you need to bet to potentially win 100 in profit.

Also Read: Most Popular Betting Types All Beginners Need To Know

betting types
most popular betting types

6. How to Place a Bet

Think you’re ready to place your first bet in the exciting world of sports betting? Here’s how to get started. First, choose a reputable sportsbook that suits your needs and offers a user-friendly platform. Once you’ve signed up and funded your account, explore the available sports and select the game or event you want to bet on. Next, you’ll encounter different types of bets, such as point spreads, moneylines, or over/unders. Here’s how to make a wager: 

  • Choose the game and bet type you want
  • Click on the “bet cell”
  • Your bet slip will be filled with the bet.
  • Enter the amount of your bet
  • Submit bet

Wait for the outcome while enjoying the game. The winnings will be credited to your account if the bet is successful. 

7. Where to Place a Bet

When it comes to placing your bets in sports betting, it’s important to choose the right platform or sportsbook. With so many options available, here’s a guide to help newbies find the ideal place to wager. Start by doing some research and reading reviews of different sportsbooks. Look for reputable and well-established platforms that have a strong track record and positive user feedback. 

Consider factors such as user interface, ease of navigation, and the variety of sports and betting options offered. Additionally, check if the sportsbook is licensed and regulated to ensure a safe and secure betting environment. Compare the odds and betting lines across different platforms to find the best value for your bets. It’s also worth checking if the sportsbook offers bonuses, promotions, or loyalty programs to enhance your betting experience. Finally, consider the customer support provided, as it’s helpful to have assistance available when needed.

One option that you can consider is the N8 Sports Betting site and app. N8 Sports Betting offers a safe and trustworthy betting environment. They also offer tempting promos and competitive odds. N8 Sports Betting makes betting easy and fun with their intuitive UI and responsive customer service. 

8. How Much to Bet

When it comes to determining how much to bet on sports, it’s crucial for newbies to exercise caution and adopt a responsible approach. First and foremost, set a budget for your betting activities. Decide on an amount of money that you’re comfortable with and can afford to lose without impacting your financial well-being. 

It’s generally recommended to start with small bets, especially as you’re still learning the ropes. As you gain experience and confidence, you can gradually increase your wager amounts. A common rule of thumb is to avoid betting more than 2-5% of your total betting bankroll on a single bet. This helps protect you from significant losses and allows you to sustain your betting activity over the long term. 

Remember, bet on sports should be viewed as entertainment, not a way to make a quick fortune. Bet responsibly, stick to your budget, and enjoy the thrill of the game without risking more than you’re comfortable with.

9. Parlays, Explained

Now let’s talk about parlays, an exciting betting option that offers the potential for big payouts. In a parlay, you combine multiple individual bets into a single wager. To win a parlay, all of your individual bets must be successful. The advantage of parlays is that they offer higher odds, as the combined probabilities of multiple outcomes are multiplied together. This means that even a small bet can lead to a significant payout. 

However, it’s important to understand that parlays are riskier because if just one of your bets loses, the entire parlay is lost. It’s crucial to carefully consider your selections and not get carried away by the allure of big payouts. Start with small parlays and gradually increase your comfort level as you gain experience. 

Remember, parlays can be thrilling, but they require a good deal of luck and solid research. So, if you’re up for the challenge and the potential rewards, try your hand at parlays and enjoy the excitement they bring to your sports betting journey.

10. What Is a Prop?

While you explore the world of sports betting you’ll come across the concept of props, also known as proposition bets. Props offer a fun and unique way to engage in sports betting. Unlike traditional bets that focus on the overall outcome of a game, props allow you to bet on specific events or occurrences within a game or event. 

These can range from predicting which player will score the first goal, how many three-pointers a player will make, or even the color of the Gatorade poured on the winning coach at the end of a championship game. Props add an extra layer of excitement to your betting experience and provide numerous opportunities for creativity and strategy. 

Keep in mind that props can vary widely across different sportsbooks, so it’s important to explore the options available and find the ones that interest you. Just remember to have fun and enjoy the unique thrills that props bring to the world of betting.

Also Read: Understanding the Difference Between Types of Cricket Betting

cricket betting terms
Different types of cricket betting

11. Shopping for Lines

As a newbie in the world of sports betting, one valuable tip to maximize your potential profits is to shop for lines. Shopping for lines means comparing the odds and betting lines offered by different sportsbooks before placing your bet. Why is this important? 

Well, the odds can vary slightly between different sportsbooks, and finding the best possible odds can significantly impact your overall returns. By comparing lines, you can ensure that you’re getting the most favorable odds available for the outcome you’re betting on. So, before placing your bet, take the time to explore different sportsbooks, check their odds, and find the best value for your wager. 

Online comparison tools and websites like N8 can be helpful in streamlining this process. Remember, even small differences in odds can add up over time, so shopping for lines is a smart strategy that can enhance your profitability in sports betting.

12. Know Your Strengths & Weaknesses

When it comes to sports betting, it’s important for beginners to take the time to understand their strengths and weaknesses. Knowing yourself as a bettor can significantly improve your chances of success. Start by evaluating your knowledge and experience in different sports. Are you more familiar with basketball, football, or soccer? 

Identify the sports where you have a deeper understanding of the teams, players, and strategies involved. Additionally, assess your ability to analyze statistics and trends. Are you better at studying historical data or understanding current form? Recognize your areas of expertise and use them to your advantage. Also, be honest about your weaknesses. Maybe you struggle with impulsiveness or have difficulty managing your emotions when betting. 

By acknowledging these weaknesses, you can develop strategies to overcome them, such as setting strict betting limits or taking breaks when needed. Remember, self-awareness is key. Focus on your strengths, work on your weaknesses, and continuously learn and adapt as you gain more experience in the world of betting.

Best Online Sports Betting Platform For Beginners

N8, the premier online sports betting platform, is an excellent choice for beginners diving into the world of online betting. With its user-friendly N8 app, N8 simplifies the betting process, making it effortless for newcomers to navigate and place their bets. What sets N8 apart is its exceptional customer service, providing prompt assistance and guidance to address any queries or concerns. 

Moreover, N8 offers enticing promotions and bonuses, allowing beginners to enjoy added value and rewards while they explore the platform. With N8, beginners can have a seamless and exciting betting experience, backed by a reliable platform that prioritizes customer satisfaction.

FAQs

1. Is online sports betting legal?

 The legality varies by jurisdiction, so research your local laws before participating.

2. How do I choose a trustworthy sportsbook?

Look for licensed platforms with positive reviews, good payout history, and user-friendly interfaces.

3. How much money should I allocate for betting?

Only wager what you can afford to lose without financial strain. Set a budget and prevent chasing losses.

4. What are the best sports betting strategies to improve winning chances?

 Research teams, analyze statistics, follow expert advice, and maintain a disciplined approach.

5. What are common bet types in sports betting?

 Common bets include point spreads, moneylines, over/unders, parlays, and prop bets.

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