Betting on Sports? Learn the Basics First

betting on sports

Sports betting is a great way to test your skill at picking winning teams in your favorite sports in major sporting events. It’s an excellent form of entertainment that helps develop your analytical chops as you scour through the historical performance of each team, the composition of the team itself, and other factors that aid in the decision-making process.

If you’re just getting started with betting on football, for instance, it’s good to familiarize yourself with things like the odds, the different types of bets you can place, and so on. For instance, do you know what the current UEFA Euro 2021 odds of +500 for France and +550 for Belgium actually mean? What if the odds are expressed as 6/1 or 7/1? Are you aware of the types of bets you can place? Do you know how to get the best deals from bookmakers?

Let’s explore:

What to Bet On

The first step is to learn what you can bet on. The top three bets are First Goal Scorer, Top Goal Scorer, and, obviously, Winning Team. Depending on the bookmaker you pick, you may have additional options as well.

Be sure to check their respective websites for a full list of special bets. Some, for instance, have a Bore Draw Money Back, where you get a refund on your bet if the score is 0-0. Or you might see something like a 2 Goals Ahead bet, which offers a full and early payout if the team you’re backing gets ahead by two goals, and winning this bet is independent of who wins the match.

Similarly, there are tons of options from different bookmaker sites, so do your research before you sign up for anything. That’s next up.

How to Research the Teams

Every bookmarker site worth its salt will provide you with the latest news on participating teams, their current odds, and the types of bet you can place. Researching the teams is possibly the hardest because it obviously involves a lot of moving parts. Player injuries, for example, can tilt the odds in favor of or against the team. The same goes for star players moving from one team to another, and so on.

Be sure to stay current on all news surrounding not just the teams you’re backing, but also the teams they’ll be playing against, the location, the weather, etc. Any piece of information, no matter how trivial, could be the very bit that decides the outcome of a match.

Another tip here is to see how the team is performing in the games leading up to the major event. Do you see any weaknesses creeping in? Are they in top form going into the main event? How are star players performing this season? These questions are vital.

Understanding Betting Terminology

Experienced punters will know the various terms used in sports betting, but it can get quite confusing to a new entrant into the world of sports betting. Therefore, we recommend that you first learn the basic jargon of sports betting so you can understand what’s going on.

For instance, learn the difference between a Money Line and a Point Spread, both of which are used in American Football. Find out what an Accumulator Bonus is, how to make a withdrawal, how to Cash Out, and so on.

Knowing these terms will allow you to make the best bet possible and hedge it appropriately. For that matter, learn what hedging is and how you can employ hedging strategies to safeguard your bets, reduce losses, and even guarantee a win.

A Word About Responsible Betting

Online gaming of any kind comes with a whole lot of risk, which is why the first rule is to only bet what you can afford to lose. In many ways, it’s very similar to investing in the securities market or foreign exchange. There’s no guarantee of anything other than the fact that you can lose your money in the blink of an eye if things go against you.

For that reason, be responsible when dabbling in the world of sports betting. If you follow best practices and keep yourself safe from undue losses, it’s a great form of entertainment.