With sports betting becoming legal across the country, millions of new bettors will be entering the market. It’s important to know what you’re getting into before placing your first bet. From the basics of moneylines and spreads to complex multi-team parlays, here are 12 things every beginner needs to know about sports betting.
Moneyline bets are bets on whether a team will win or lose, without taking into account the final score or result of the game. They can be placed on any number of teams and are paid out based on the amount wagered, plus any associated fees. These are the easiest and most common types of bets.
Spread bets, also known as point spreads, are used to make uneven games more fair. A favored team is given a margin of points that it must win by in order to cover the spread, while the underdog is given odds that it must lose by to push the bet (win). The oddsmakers determine this difference based on a variety of factors, including recent game results, weather conditions, and player and team performance.
The over/under bet is a wager on the total number of points scored in a game. Oddsmakers set these odds based on various factors, including historical events, weather conditions, and player and team performance. The over/under bet is a popular choice among fans because it can add excitement to the game, even if they don’t care who wins or loses.
A bettor’s risk tolerance and strategy will ultimately decide how much to bet on each game. A good rule of thumb is to never bet more than 1% to 5% of your bankroll on a single bet. This will allow you to lose a few bad bets and still have enough money left over to place future bets.
Another crucial part of a winning sports betting strategy is to stay emotionally detached from the game and not place bets based on emotions. If you’re a diehard fan of a particular team, for example, it may be tempting to place a bet on them, but this can lead to bad decisions. A better way to bet is to focus on your own personal experience and skill set.
Once you’ve mastered the basics of betting on sports, you can start to experiment with more advanced bets. One such bet is the round robin, which consists of a series of 2-team parlays. Each team is placed in a different position in the bet, and each of these bets pays out at 1:1. In addition, you can also bet on individual player props. These bets are usually higher-risk, but they can pay off big if they’re won. The most successful props are those that can be backed by stats and research. These include team and player injury reports, as well as the latest coaching and scouting changes. A successful prop bet will take these factors into account and provide you with an edge over the house.