As sports betting becomes legal in more states, more people are looking to make a buck or two by placing a wager on a game. This is a huge shift in the gambling industry, which was largely limited to Sin City and illegal bookies until this year’s Supreme Court ruling struck down PASPA. So, if you’re thinking of trying your hand at making some bets, where do you start?
Sports betting can be complex, with different bet types and odds formats. But, there are some basics that you should be familiar with. First, you’ll need to understand how odds are calculated. Oddsmakers determine the winning team in a game by looking at many factors, including home-field advantage, injuries, and recent history. This process is called handicapping.
Once you have a firm grasp of how the odds are determined, you can begin to place bets. The most common bet is a straight bet on the winner of a game. This bet pays out if the team you back wins by a certain margin. Generally, the higher the win margin, the larger the payout. The other common bet is a totals bet, which is a wager on the number of points scored in a game. Totals bets are based on a number of different factors, including weather and field conditions. For example, if it’s windy in Chicago and the ball tends to bounce off the fences at Wrigley Field, the total may be higher than usual.
Another type of bet is a futures bet, which is a wager that will be decided in the future. This includes betting on a team to win a championship (such as the Stanley Cup in hockey) or a player to win an award (like NBA Offensive Rookie of the Year). Futures bets often have lower odds than traditional straight bets, but they offer much larger potential payouts.
A final note about sports betting: It’s important to be able to separate your emotions from your wagers. Betting with your heart can lead to bad decisions and can ruin your bank account and relationships. It’s also important to avoid relying on media hype when deciding on which teams to bet on. The vast majority of television shows, radio shows and websites are in the business of generating buzz and controversy by spewing hot takes. These opinions are designed to keep viewers, listeners and readers tuned in, and they can have a huge impact on the outcome of a game.
Finally, it’s crucial to research the sportsbooks you plan to use. Look for user reviews, but don’t take them as gospel. What one person views as a great sportsbook, another may consider mediocre. Additionally, it’s important to check the sportsbook’s betting menu and which bets they accept. This will help you narrow down your options and find the site that best fits your needs. Good luck!
