How to Bet on Sports: Basic Rules for Beginners
Sports betting is a big business that has become one of the most popular pastimes for young males. It offers excitement, entertainment, and big wins if you have a working strategy in mind. In this article, we would like to provide the basics of how to bet on sports, explain the main betting rules and all the fundamentals for your success. In our simple guide to sports betting, we will also run through betting odds and types of bets sportsbooks worldwide offer.
What Are the Basic Rules of Sports Betting?
So let us introduce our guide so you don’t get confused with over-complicated rules. Here is a breakdown of the basic rules of betting on sports:
- Sports betting is all about placing a bet on a sporting outcome and hoping you are correct. If you are correct, you will win; if not, you lose.
- The sportsbook sets the odds (chances) and they will determine the likelihood of the bet winning and how much you can potentially win.
- Picking the bet type is vital. These include moneyline bets, spreads and totals, which we will discuss later in this review.
- Make sure you place your bet on time, before the event, unless you are live betting.
- There are house rules at every sportsbook, such as rules on voided bets and if an event is a draw.
- Before you place your first bet, you want to know the minimum age requirement in your region, which can be 18 or 21 years.
Types of Sports Bets Every Beginner Should Know
In this part of the review, we would like to introduce you to different types of sports bets that suit different preferences. You can bet on the team that wins during or well before the match, or wager whether the score will be under or over that amount. Let’s take a closer look at the main types.
| Bet type | Description |
|---|---|
| Moneyline | This is the easiest and simplest way of betting and is the most suitable sports betting for beginners. The moneyline bet consists of picking a team or player who will win. If you are correct with your choice, you will get a profit. With this type of bet, you will not need to worry about margins or even scores. |
| Points spreads | This type refers to a point spread, a type of bet that is designed to level the playing field between two unevenly matched teams. With point spreads, the stronger team (the favourite) must win by a certain number of points. At the same time, the weaker team (the underdog) can lose by fewer points and still win the bet. Understanding odds in sports betting is essential to give yourself a chance of success. |
| Totals/Over-Under | This bet allows you to wager on the combined number of points, goals, or runs scored in a game. The sportsbook sets a line, and it is up to the bettors to choose if the final score will be under or over that amount. This is a particularly popular bet amongst fans of the NFL, NBA, MLB, and NHL. |
| Futures and outright | These types of bets are long-term bets allowing bettors to try to predict the outcome of an event well in advance. An outright or futures bet is commonly made on events like the Super Bowl, the World Cup, or the Wimbledon tennis tournament. In this case, punters may expect some really impressive payouts; however, in this case, your money is tied up until the tournament finishes. |
| Prop bets and special markets | Prop bets, which are short for proposition bets, let bettors place a bet on specific events within the game. This is not directly tied to the final score or even the margin of victory. This type of wager focuses on an individual player's performance. An example would be how many rebounds a player makes in a game, a quarterback's passing yards, or a pitcher's strikeouts. |
Understanding Sports Betting Odds
When it comes to the rules, understanding odds in sports betting is essential. They will show you the amount you can win, plus the chances of a particular outcome. There are three main formats used within sportsbooks: Decimal, American, and Fractional odds.
- Decimal odds: These are popular within Europe, and the number you will see at a betting site will show the total that will be returned for every $1 bet. An example would be a $10 bet at 2.50 returns $25. This breaks down to a $15 profit plus the $10 stake.
- Fractional odds: These are the UK-format odds. The fraction illustrates the profit relative to the stake. A $10 bet with 5/2 odds would mean you will win $25 as profit with the $10 stake.
- American odds: Obviously, these are used at American sportsbooks. The favourites are shown with a minus (-) sign. The number shows the amount you will need to bet to win $100. Underdogs will be shown with a (+) sign. The number will show you how much you will make if you bet $100. If a team has odds of -150, you must bet $150 to win $100. If the odds are +200, it would mean a $100 bet would win $200.
With lower odds, it means there is a higher chance of it happening, and you winning, but the winnings will be smaller. Higher odds mean a lower chance of you winning the bet, and therefore, your profit will be higher.
To help you understand how odds in different countries actually work, we decided to introduce you a few clear examples:
- Decimal odds: If you bet $20 at 1.80, you will get a return of a total $36 with a $16 profit
- Fractional odds: Wager $20 with odds of 3/1 to get $80 returned with a $60 profit.
- American odds: When you stake $50 with odds of +150, it gives you a total return of $125, with a $75 profit.
Rules & Regulations in Sports Betting
Before you join a sportsbook and place your first bet, we advise checking the regulations and rules for online sports betting in your country. Some of the key factors include:
- Legal sports betting vs. illegal platforms: We highly recommend using only licensed sportsbooks, which are recognized and regulated within your country’s jurisdiction. A bookmaker that holds a reputable license will ensure you get fair odds, secure payments, data protection, and responsible gambling tools. If you use illegal sites, you may have difficulty claiming winnings, and joining such a site means you put your sensitive data at risk. You can find licensing information at the bottom of the sportsbook homepage, or you can request this information from customer support.
- Online sports betting rules for different regions: If we take the US as an example, sports betting is legal in many states, but not nationwide. Each state has its own rules and age restrictions. Europe is known to apply strict regulations to protect bettors.
- Responsible gambling practices: You must know how to bet responsibly. Set deposit and spending limits, use reality checks and time reminders, and join a self-exclusion program if you keep losing money and feel anxious.
How to Start Sports Betting Safely?
To start your betting experience, you want to avoid unnecessary risks. We will show you how to start sports betting as a beginner, in a safe and responsible way. Here are the steps:
- Understand the odds, the various betting options, and the sportsbook rules before placing a bet.
- Know what you are willing to lose and stick to that figure.
- You want to start off betting small amounts to gain confidence.
- Write down your wins and losses, and keep track of the strategies you are successful with.
- It is vital to remember that sports betting is fun, it is entertainment, it’s not a way to make an income.
Choose a betting app or sportsbook that holds a respectable license. As we have said, licensing information is usually provided at the bottom of a betting site’s homepage. Take time to read other players’ reviews before committing to a site. Check out the site's security measures, such as SSL encryption and terms and conditions.
To set up an account, you want to complete registration with accurate information. Choose a deposit method that suits you. To withdraw any winnings, you want to confirm your ID and make sure you are aware of the withdrawal processing times. Make sure you understand the payout time and fees.
Beginner-Friendly Sports to Bet On
Not all sports are as easy to place bets on for beginners. We decided to list several sports that all beginners can start from without subjecting their money to much risk.
- Football and cricket
Football is the most popular sport in the world, making it a dream to bet on. The amount of matches that take place around the globe makes betting opportunities plentiful in football. Best focus on match winners, top run scorers, over/under runs, which makes it a good choice for a beginner.
- Basketball, tennis, and baseball
In basketball, there are options like moneyline bets, point spreads, and totals. The NBA offers lots of games to place bets on with tons of statistics. Tennis is another good option for beginners as it is a one-on-one sport. Place bets on the match winner, points scored, and total games played. Baseball offers bets on the number of strikes in a match and the number of home runs.
As you can see, we shared a few options, so how do you choose the right discipline to start with? Please check these simple exit tips:
- Always bet on sports you understand, have watched for years, and stay up-to-date with.
- Stick to simple bets at first, like moneyline or totals.
- If a sportsbook offers a bonus, like a free bet, don’t hesitate to take advantage of it.
Sports Betting Tips for Beginners
Since betting is associated with fun as well as risk, we would like to give you some handy sports betting tips for beginners to approach it safely.
- Bankroll management
Set a budget you are willing to use and stick to this amount.
- Do not bet with money you can not afford to lose
It is better to bet a small amount of your bankroll instead of looking for large wins. Betting 1-5% is a good starting point.
- Have a strategy in mind
Having a plan can increase your chances of being successful. Look for good value in the odds, and compare sportsbooks for better payouts.
- Never chase your losses
Increasing your bet size can lead to large losses.
- Do not bet with emotion.
Just because you like a sports team does not mean you must bet on them. Be sure to check the odds and make sure they are worth the bet.
Live Betting & In-Play Rules
There is a thrill that comes from live betting that is hard to beat. Knowing the rules is essential if you want to get involved in this aspect of betting. In our beginner’s guide to sports betting, we would like to emphasize live betting, since it is one of the main features of bookmakers.
Live betting, also known as in-play betting, is when you bet on a game while the event is happening. The odds are constantly changing depending on what is happening. An example of live betting in football is that you can place a bet on who you feel will score the next goal. In tennis, who will win the next set? You will need to be ready to place your bet quickly, as odds are changing frequently.
Betting delays can happen to prevent courtsiding, which is benefiting from live updates before the sportsbook adjusts. There can be suspended markets if a key event is taking place in a game, such as a penalty kick or an injury. Bet limits are usually smaller than pre-game betting. There are cash-out options before the game finishes in live betting.
| Pros of In-Play Betting | Cons of In-Play Betting |
|---|---|
| Better opportunities as you bet throughout the game | Higher chances of making a rush decision |
| Watching as you bet gives you a better understanding of what is happening | You may be tempted to wager higher sum |
| More flexibility to make the correct decision | Lower bet values |
How to Read & Follow Sports Betting Markets
You must certainly develop a skill to read markets, as it can make a huge difference between winning and losing. Below you will find pre-match and live markets explained in simple language.
- Pre-match bets are placed before the game starts, vs in-play bets are placed while the game is happening.
- Pre-match is ideal for beginners as there is more time to research. Experienced bettors and those who have a deep understanding of the team and players usually go for live markets.
- Pre-match betting offers fixed odds, while in live betting, the chances of winning or losing change with every play. In the live market, odds can change before the game due to injuries, team news, and suspensions. If there is big betting on one side, it can force the sportsbook to adjust its odds.
The keys to navigating live markets are using live stats such as possession, shots on goal, and number of home runs, comparing the odds, and doing your research. By research, we mean checking sports apps, live score platforms, plus social media talk.
Sports Betting Glossary (Beginner Terms)
There is so much jargon in sports betting. We know it can be confusing and too much on top of everything we have already run through this guide. Here is our glossary of sports betting explained in simple words:
- Bankroll - The total amount of money you have to bet. If you deposit $200 in your account, that is your bankroll.
- Stake - An amount of money you place on a bet. By betting $10 on a team to win, that is your bet.
- Odds - The amount of money you could potentially win compared to your stake. Odds of 2.00 would mean a $10 bet returns $20.
- Live betting - Refers to making bets while the event is happening in real time. An example is betting on a football match after it has already kicked off.
- Cash Out - Withdrawing your bet before the event ends in order to lock your profit and avoid risking losing more money.
- Favorite - A team of a player who is likely to win.
- Underdog - A team of a player who is believed to lose.
- Push - A draw between you and the sportsbook, the bet is refunded. You bet on a -3 spread bet and the team wins by 3, it is a push.
FAQ
What are the basic rules of sports betting?
If you are a newbie, you certainly must have a question “How does sports betting work?” The basics are to place a bet on the outcome of a sporting event and hope you get it right.
How do I start betting on sports as a beginner?
A short answer to “How to start sports betting?” would be choosing a trusted sportsbook. Once your account is set, fund your account and choose an event you want to bet on. Do your research to choose odds wisely.
What are the different types of sports bets?
Moneyline - the winner of the match. Live bets - the wagers you can make during the game. Parlays - more than one bet combined. Prop bet - a stake on a specific team or player outcome. Futures bet - bet happening in the future.
How do sports betting odds work?
Understanding odds in sports betting will help you win more than you lose. Odds show you how much you can win if you bet a specific amount. When you see higher odds, it means it is less likely that an outcome will happen. But if you win, the payout will be bigger.
Is online sports betting legal everywhere?
No, online sports betting is not legal in every country. Luckily, most countries legalized sports betting; however, countries like China, the UAE, and some parts of India strictly prohibit this activity.
What’s the best strategy for beginners in sports betting?
We highlight the importance of betting with strategy and not being guided by emotions. You must control your bankroll and bet only 1-5% of your money per wager. Do not just focus on favorites; look for value betting odds. It is wiser to choose odds that give you a higher payout.