Sports Betting in 2021: What You Need to Know

Did you know that around 46 percent of adults in the United States of America have participated in sports betting? Sports betting and online betting have grown by leaps and bounds over the past few years and it doesn’t look like it will slow down any time soon. It is a great way to add a little more fun to your favorite sporting events while also giving you a chance to make some additional money.

Getting into sports betting and sports booking seems a bit intimidating when you’re on the outside looking in. Still, there are plenty of things that you can learn in order to find more success with your online gambling exploits. Learning useful tips and the lingo that surrounds sports betting is a sure way to understand your odds of winning.

The good news is that you’re in the perfect place to learn all about the helpful tips that will help you with book keeping and online betting. Keep reading this article to learn more today.

Sports Betting Favorites vs. Underdogs

The first thing that you’ll need to learn about if you’re looking at getting into sports betting is learning the differences between favorites vs. underdogs. When the sportsbook software releases a line for betting on a sporting event, they’ll have an underdog and a favorite for you to bet on.

The favorite is exactly what it sounds like. They’re looked at as the most likely team to win the upcoming game, while the underdog is looked at as more likely to lose. If Missouri is playing Alabama in a football game then Alabama will be likely to have a minus sign next to a number. That signifies that Alabama is the favorite and they’re favored by a certain number of points.

Missouri, on the other hand, would have a plus sign next to a number. This signifies that they’re predicted to lose by that point margin. You can use these numbers and signs to get an idea of which team to bet on.

Understanding Point Spreads

You also need to understand point spreads when you start to get into sports betting. When you choose to bet on an underdog or a favorite in a sporting event you’ll need to know the point spread. The point spread displays the expected margin of victory that the sports bookie has placed for you to bet on.

The smaller the number is that signifies the spread, the closer the match is expected to be. If Alabama is a 27 point favorite over Missouri then there would be a (-27) next to Alabama on the bet. If you bet on Alabama with that point spread then you would need the Crimson Tide to defeat the Missouri Tigers by 28 points or more. That would mean that you “covered” your bet.

If Alabama happens to win by 27 then you would “push”, which means that you get your money back that you placed on the game. If Alabama wins but by a smaller margin than 27 points then you would lose the bet and all of the money that you placed on the game.

Moneylines

Another option at your disposal if you choose to bet on a favorite of a sporting event, like the Super Bowl, is the money line. The money line is much more straightforward and clear when you’re betting. You choose the team that you think will win and you put your money down on them.

If the team that you bet on ends up winning then you get the money that you bet plus whatever your winnings add up to. If the team that you’ve bet on loses then you’re out the money that you placed on the matchup.

The money line is similar to point spreads in that the money line uses plus and minus signs to signify the favorite and the underdog. The big thing that is different is the number next to those signs. If there is a “-300” next to the team that is favored in the game then you’d have to risk losing $300 in order to win $100.

The favorite is expected to win which makes them the safer bet. The safer the bet is the less money that you’ll end up winning. If you take that bet on the favorite you’ll win $100 but if you lose then you’ll lose all of the $300 that you bet on the game.

Over/Unders

Another thing that you’ll need to know about when it comes to sports betting is over/under. These types of sports bets can get placed on just about anything that happens in a sporting event. The most common use for over/under is the number of points scored between the two teams that are playing each other.

You’ll have the chance to bet money on whether you think the total points scored by both teams will be above or below the number that the sports booking expert sets. If Wake Forest is playing Duke in a football game then the oddsmakers might set the over/under at 51.

If you bet the over then it means that you think those two teams will combine to score more than 51 points. If they end up scoring less than 51 points combined then you lose the bet. If they score exactly 51 points then you push and get your money back, and if they score more than 51 then you get winnings plus the money that you placed on the over/under.

Placing Bets

The first part of placing a bet on a sporting event is finding a great website for online gambling and sports betting. The good news is that sports betting has started getting legalized throughout the United States of America so you’ll have plenty of options to choose from when finding a bookie to place your sports bets with.

A good idea is to check out whether or not sports betting is legal in your state before proceeding with placing bets on sporting events. Colorado, New Jersey, and Pennsylvania are some of the biggest hubs for sports betting in the United States as of 2021.

How Much to Bet

It is up to you to determine how much money you want to bet when you’re moving forward with your sports betting career. Remember that whatever you choose to bet on a sporting event is money that you risk losing if the outcome doesn’t end up in your favor.

A good rule of thumb is to avoid betting unless you can afford to lose the money that you wager on sporting events. Look at your sports betting career as a long-distance run rather than a short sprint towards the finish line.

A good strategy for figuring out how much to bet is to calculate your betting bankroll and find a good amount to bet on each sporting event that interests you. Aim for around five percent of your bankroll when you start betting on sporting events. That way, if you lose it won’t break the bank.

Betting with this strategy is a great way to avoid losing most or all of your bankroll on one sporting event. Using this strategy is a great way to end up with a positive number when it comes to your return on investment with sports betting.

Shop for the Right Line

There are tons of sports bookies that you can place bets with all across the country. This means that you have more access to different betting lines than ever before and you need to use that to your advantage. Each bookie has a different set of clients which means that there are multiple options for finding the best betting line.

One sports bookie might place a line of (-8) on the Crimson Tide for the Alabama vs. Georgia football game while another might place a line of (-6). You should take the time to do your research and look at all of your options when you’re thinking about taking a risk on sports betting.

Know Your Strengths

If you’re serious about sports betting then it is a wise move to track all of your bets as a way to identify what works for you and what you struggle with. You’ll find the sports and teams that you have the most successful betting on and be able to cut out the ones that are losing you money on a regular basis.

If you’re more successful betting on NFL teams than you are on college football teams then you can cut out your bets on college football and focus that money on the professional side of things.

Start Your Sports Betting Career Today

Sports betting is a fun and creative way to make some side income, and if you become good enough you could make it a full-time profession. It is important that you learn and understand your strengths and that you have a strong idea of what you’re looking at when you see betting lines. You should also make good use of the number of sports bookies out there to find the best lines.

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