If it’s your first time betting on sports online the process may appear quite complex. However, never mind, this is only because you’re a newbie. Frankly, online betting is as easy as ABC. You simply need to know some basic guidelines when you’re making online wagers.
You could learn through trials and errors. However, you need not go through these since you might exhaust a considerable amount of time and money before attaining perfection. With the guideline below, understanding how to bet on sports online is made easier.
Understand the basics of betting odds
You must understand the basics of the sort of wagers placed. There are a variety of betting types and odds. Some of these betting types include betting on point spreads, betting Moneyline, betting totals, knowing how to use decimal odds and American odds.
Point spread betting
With this form of betting, odds of the winning team get balanced out. It’s basically the number of points included or deducted from the final result of a team. For instance, if the Mumbai Indians (+7) are playing the Chennai Super Kings (-7) in the NFL. What this means is the bookies think the Mumbai Indians will lose, so 7 points is included to their final result. So, for persons who wager on Chennai Super King to win, Chennai Super King have to win by at least 8 points. If they win by less, persons who have wagered on them lose the bet.
With betting moneyline, you’re simply betting on the outright winner of the game. Based on the example given above, the plus sign means the team is the underdog and is likely to lose, while the minus sign means otherwise. This is a very easy system of betting as you simply need to bet on who you think will win. Betting on the underdog gives a higher reward when successful.
Here, a sportsbook gives a designated number which signifies the entire points which both teams scored. All you have to do is to bet on whether the two teams will end up scoring more or less than the designated number.
Decimal odds or American odds?
Variety of betting systems such as those mentioned above come with odds. These bettings odds could be in decimal (such as 2.674) and could be accompanied by American odds (such as +150). One difference between both is that the decimal odds include your stakes in winnings whereas in American odds, your stakes are returned to you together with your winnings.
Search for a betting site
After familiarising yourself with the basics, you need to put your knowledge into practice. You must find a suitable online betting site. This is very easy as there are many sites in India that offers legal betting online. While on the search, you should avoid those sites which try to distract you with several ads. Also avoid those sites which insist you register with your personal and financial details before having full access to their sportsbook content.
Learn about the sport you want to bet on
Each sport has its exclusive features. Not all betting systems can be used in all sports. For instance, betting moneyline is used in betting on games where a winner will emerge and can’t be used on a game which ends in a draw (such as cricket). Therefore, you must be aware of the various sports you are interested in and wish to place wagers on. You must also take into consideration foreign factors which could affect a game when placing bets on various sports.
Some sporting events are played indoors and so may not be affected by weather conditions, whereas others are played outdoors, and weather could play a big impact on the outcome of such games. You must be knowledgeable about the sports you want to bet on. You need not be an expert at it, but you should have a basic knowledge of it.
It’s also important to analyze individual players and how they might perform. For example, if you are interested in betting on IPL, knowing which players to watch in the upcoming season will help you gain more insight and make more accurate bettings.
Start placing bets
Now it’s time to start to place bets. You’ll see it’s quite easy, with each bet you place, you become more accustomed to the whole process. It’s advisable to begin with little amounts, then as you gain more confidence and have more wins, you can then place higher wagers. With frequent wins over losses, and when you place small bets, you have more favourable chances of earning profits compared to placing large bets. When placing bets, ensure that you plan your bankroll to avoid overspending beyond your budget as betting could be quite obsessive.