What is Sports Betting, and how to get started?

One of the most popular types of online gambling is sports betting. Not only is it straightforward to get into, but there are numerous bet types and sports to bet on. We created this article to give you essential sports betting information and help you get started. We're going to touch on quite a few things, so let's go ahead and get started.

What is Sports Betting?

Sports betting is when you wager money on the outcome of a sporting event. Every place will have different rules and practices, but this kind of betting is excellent for those that want to take a risk on their favorite sport. There are even some bets you can place on various things happening during a live game. While you can win a decent amount of money doing these types of bets, remember that you can also take a significant loss because sports are unpredictable. 

What are the Odds, and How Does it Work?

Betting odds tell you how likely it is for something to happen and allows you to figure out how much you'll win if it does happen. For example, if the bet you're looking at says it has odds of 5 (or 4/1), it means there is a 20% chance that you'll win 円4,000 for every 円1,000 you bet. These are wonderful things to use to try and figure out how much you'll win, but there's always that chance that you'll lose money instead.

Different Types of Bets

One of the essential parts of sports betting is the different betting types. With so many options, it can be hard to determine one to bet on. The types below are the most popular ones, and each has plenty of information to give you a thorough understanding and help you figure out which one will bring you the most winnings.

Win/Moneyline

This is one of the most common and easiest bets to win. All you have to do is place a bet on the team you think will win. If they win, then you get your winnings. If you see a minus sign in front of a price, that means that team is the favorite to win. If you see a plus sign, it means that team is the underdog. It also tells you how much you need to bet to win 円1,000. It doesn't matter how much the winning team wins; you'll get paid if you placed a wager on the team that won.

Totals/Over/Under

A Total or Under/Over bet is where the sportsbook predicts a particular statistic, like the total of both final scores. Bettors will bet on whether the actual number will be equal, over, or under the prediction. One of the great things about this is it's straightforward to learn, and it doesn't matter who wins or loses. If you bet correctly, it doesn't matter how close you were to the actual number. If you're just starting with online sports betting, it's a good idea to start with one of these bets or a moneyline bet.

Point Spread

While this type of bet is much harder to win, the winnings can be more lucrative than most other bets. To win this type of bet, the winning team must win by a certain number of points or goals or not lose by a certain number of points or goals. It might seem easy, but this number has to be exact, and there isn't any wiggle room. You might have a better time betting if you do your research and make sure you look at the past games of the teams playing. From there, you should be able to guess who will win and how much they'll win.

Futures

A futures bet is where you put a wager on any sporting event that will happen in the future. You can place many different bets with future wagers, but you have to remember that a portion of your funds will be tied up because the wagers need to be paid at the exact time they're placed. Some of the most familiar future bets are on significant events like the Super Bowl or the Soccer World Cup. Bettors will get fixed odds on the team that eventually wins, and they can't change their wagers after they pay for their bet.

Parlays / Combined bets

The final type of bet is a parlay bet. This is another extremely popular wager. The bettor takes multiple bets and combines them to make the same bet. For example, if someone wants to bet 円10,000 on three different games, they'll win if all three bets are correct. If any of the bets are inaccurate, the entire parlay will lose. Since it's multiple bets, this type of wager can bring in a decent amount of winnings.

On the other hand, losing could mean you lose a large sum of money. If you don't have a lot of experience, you should be extremely cautious with this bet. This is even true for those that have been betting online for a long time.

Live Betting

With live betting, you'll be able to see the sport in real-time. This lets you see exactly what's happening and put in any bets based on how the game goes. Keep in mind that you can put bets in until a certain point in the game. This means you could end up losing if things take an unexpected turn. Even with that said, live betting usually gives more options and flexibility than many people want.

What Sports Can I Bet On?

Different online sports betting sites will have different categories, but most will have a lot of the same options. The items below are the most common sports people bet on, but remember that some websites might have other options available. Make sure you're looking at what's offered for every site you're considering.

Betting on soccer

Soccer is one of the most popular sports that people bet on. This sport's four most common types of bets are point spread, moneyline, over/under, and prop bets. Out of these, though, the most popular bet is the point spread. Other types of bets can be placed on soccer and offer many ways of winning. Depending on the game, you might find some wagers that will give a massive payout if you win the bet.

Betting on baseball

With baseball, bettors tend to choose almost every type of wager. There are so many different aspects of baseball, which opens up a new opportunity for special or prop bets. While many people will bet on the final score, just as many will bet on things like catches a particular player does or how many foul balls will occur. It's all going to depend on the online sports betting site you're using, so make sure you find out which bets they offer and whether or not prop or special bets are allowed.

Betting on rugby

Rugby has quite a few different wager types, but the most common ones are first to try scorer, first scoring play, match result, winning margin, and handicap bets. One of the most popular prop bets is how rough the game naturally is, and it lets bettors wager on things like scuffles or full-on fights. They can also bet on the number of yellow flags, who gets the first flag, the number of penalties, and the types. It'll differ from betting site to betting site, but there should be several different wagers to choose from.

Betting on tennis

Tennis isn't a trendy sport, but it's pretty popular overseas, particularly among European bettors. Using multiple betting sites if you're betting on tennis is a good idea because you will end up with more winnings in the long run. There are plenty of wager options if you want to bet on tennis, but the most common ones are moneyline, game/set spread, and over/under…

Horse Racing Betting

Betting on horse racing has been going on for a very long time, and many people like doing it. There are many types of bets, but the most popular is betting on the winning horse. The exact amount you win will depend on how much you wagered. The great thing about horse racing is that there are many things you can look at to get an idea of which horses you should bet on. Some things bettors use are what gate the horse is at, who the jockey is, who the horse is, and who the horse was trained by.

Betting on sports events

This type of betting is used when a sporting event occurs. This refers to events like the Olympics or the Soccer World Cup. Some betting sites will offer bets on sporting events that aren't as mainstream, such as WrestleMania or the PGA Championship. Most of the bets have to do with the big things like the winner, the final score, the number of goals, and player statistics. Some prop bets could include things like injuries or penalties. Look at what the site offers to see what kinds of bets they have and if there are any restrictions.

Differences Between Offline and Online Sports Betting

Sports betting can be done online and offline, depending on your preferences and needs. To help you figure out which is best for you, we've discussed some of the differences between them. Hopefully, these differences will give you a better idea of which type would work best for you and your situation.

Wager Types

It comes down to what kind of bets you want. For the most part, if you're doing sports betting offline, you'll only be able to make straight bets like moneylines, totals, or spreads. Some might take others like parlays, but you'll probably have difficulty finding one. Online betting sites have so many different options, and there's a good chance that they'll have a bet for everyone. They even have live betting, which we'll talk about below, that has even more types of bets. If you want several different wager types to choose from, then online betting will be your best bet.

Available Sports

Another big difference between online and offline betting is the available sports to bet on. Most offline betting agencies will only cover the major league sports, college sports, and a few international leagues. On the other hand, many online betting sites will have a lot more to choose from. In addition to common sports such as soccer, rugby, or baseball, online betting sites also offer betting on games like cricket and professional wrestling. Some will even provide other areas for betting like politics and entertainment. This means you can try different areas to bet on something along with your regular sports betting.

Promotions & Bonuses

One final difference is that online betting sites offer many more bonuses and promotions. These are usually a lot more rewarding and lucrative. The main reason for this is that so many online sites are fighting to be on top. They want to make their promotions and bonuses better than the other betting sites out there. This is good news for you because you can use those to try and win more money. One of the biggest promotions run by online sites is free bets that will let players bet for free. Most offline places will have very few promotions, and there's a slim chance that they'll offer something like free play.

Bonus and Promotional Offers

Every betting site is going to offer some kind of bonuses and promotions. Some will have better offers, while others might only have a few. Listed below are some of the most common types of bonuses and promotions that people use and look for. See below to get an idea of what offers might be available to you. Remember, it's not guaranteed that every site will have these, so check out the current offers of any betting websites in our best sports betting sites ranking.

Sign Up Bonus

A signup bonus is only given once, and it's for those creating a new account. Some sites will provide you with this free bonus to try out the betting. Other top sports betting sites will have some requirements, like depositing a certain amount or placing a certain number of bets. You might think you can get this bonus by signing up with multiple accounts, but this isn't a good idea. If you can sign up, you can risk losing everything if the site finds out that you're being fraudulent.

Matching Bonus

The way it works is straightforward, and the online site deposits money when you do. Many players love matching bonuses because they get free money to play with. Some will offer a 100% match bonus, while others will only do a smaller amount. Some of these bonuses have restrictions, and you can only get them if you deposit a certain amount or place a certain number of bets. They might only offer the bonus if you bet on particular sports or place a specific kind of wager.

Freebets

Free-play promotions are where the online site offers players a certain number of free bets. These are usually provided to those using the site for long periods or who have spent a large amount of money. Some sites offer a limited number to new players or those that don't place many bets. Some of these bonuses might have restrictions depending on the site offering them, including using them on certain games, doing specific wager types, or betting a certain amount.

Referral Bonus

The referral bonus is excellent for those that have been on the website for a long time. They'll have a specific referral link you can share so people can sign up under your name. This bonus works by giving you a particular reward every time someone uses that link to sign up. Some sites will have a maximum amount in a certain amount of time, while others will let you have an unlimited amount. The reward is usually 1 of 2 things. The 1st is a fixed amount every time someone signs up. The other is an amount calculated based on how much the person who signed up under you deposits.

High Roller Promotion

There are a couple of different versions of the high roller promotion. The first version is when a new player gets a bonus for making a deposit much larger than the usual or average amount. If this is the case, then the bonus is only awarded that 1st time. The other version is for returning players that have been a continuous high roller. To meet these requirements, you'll have to do things like deposit a certain amount a month or make a certain amount of bets a month. It'll be different from an online betting site to another online betting site, but you should be able to find this information right on the website.

Payment Method Bonus

Another popular bonus is the payment method bonus. You must make your deposits with a specified payment method to get this. Some will only give you this on your first deposit, while others will give it to you every time you use that payment method. Some sites will only offer this for a single payment method, but others will offer it for a few different options. They might have different bonus amounts for different methods, but it will say right on the payment method page if this is the case.

Reload Bonus

A reload bonus is where you get rewards for reloading your balance. Like the other bonuses and promotions on this list, some might only allow this for the first reload, and others might offer it every time you add money. You'll also want to see if there are different bonus amounts for different deposits. You might find that a bigger deposit gives a better bonus than a smaller one. There might be restrictions regarding how many times you reload and what payment method you use. This is another piece of information that should be right in the description of the bonus.

Holiday Promotions

Holiday promotions is another popular type of reward. These happen around holidays and can be several different options. The most common ones are free spins, extra money, or free bets. Some sites will have you place bets and collect certain things, while others will just give the reward to loyal or active players. They might require you to be a member for a certain amount of time, deposit a certain amount of money in total, or make a certain number of bets. To get the exact terms and conditions, check out the website information.

How to Choose a Sports Betting Site

With so many betting websites available, the best for your needs and preferences can be challenging. To help narrow your choices, we've put together a little list of things you should look for before choosing. Before you start using any of the online bookmakers you should check all these points before depositing any money:

Reputation and License

The first thing to look at is the reputation and license of the betting site. For starters, you want to ensure they are completely legal and have seeded the necessary permits and requirements. If you bet on a site that doesn't, you could have severe legal consequenceYouyou can look at online groups or check out online to find out what kind of reputation the site has. Most of the people on them will give you the honest truth and a really good idea of what you should expect.

Odds

The next thing you want to consider is what kind of odds the site has. Every site will have different odds, and you want to find the one that can give you the best winnings. Every site should have an area that tells you the odds for specific sports and wagers. You can compare multiple sites at once and decide based on what the numbers look like. You should consider signing up with multiple sites with high odds to increase your overall winnings.

Available Sports & Betting options

You'll also want to check out the different sports and bet types available. If you're just looking for a few mainstream sports and basic bets, then you can find a site that focuses on these. On the other hand, you'll want to look for different sites if you want to bet on sports that aren't very popular or exotic bets that aren't just focused on the score. You should be able to find this information before you ever sign up, and you can reach out to customer service with any questions you have.

Bonus & Promotions

People love bonuses and promotions, so you want to find a site with plenty to offer. Since there are so many options, you'll want to look at what each is offering to new players. Make sure you research the promotions and read any information included with them. You'll also want to double-check to see if there are any requirements or restrictions you need to meet to get the bonus.

Deposit & Withdrawal Methods

One final thing to look at is the type of deposit and withdrawal methods offered by the online sports gambling site. Some will have plenty of options, but others might only provide several different methods. This is common with online sites that are based in different countries. Before signing up, go to the payment methods page and see what is available. Some of these payment methods might also be fees, so check that too. If you don't see anything about it, you can reach out to customer service if you have any concerns.

How to Get Started with Sports Betting?

The great thing about online sports betting is that getting started is effortless. The first thing you should do is look at all of the betting sites available. Once you do that, you'll want to check out all of the information on the website, so you know exactly what to expect. Use this information to choose the best betting site and create your account. After signing up, you'll be able to make your deposit and start playing!

Frequently Asked Questions about Online sports betting

How to bet on sports online?

You just need to register to one of the online bookmakers mentioned in our ranking, deposit money then place your bet on the team of your choice

What are odds? 

Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned an odd representing the likelihood of winning the game. When the odds for two teams are even, meaning 1 to 1, each team is equally as likely to win the game.

Can I bet for free?

Some online bookmakers might offer a free bet to new players without any deposit required, but that's quite rare; most betting sites will require you to deposit money to unlock a welcome bonus.