The surfacing of every day fantasy sports these years had directed the rebirth of the traditional betting of sports. The shame and humiliation brought by gambling years ago are already drifting away as sports betting becomes more accepted nowadays. This has lead to the resurfacing of a huge, industry for online betting portals.
With the legalization of sports betting all over the globe, a lot of sports enthusiasts will begin to consider the betting industry. If you are one of the millions of sports fans out there who want to learn how to bet in Kenya, then you must be familiar with some of the terminologies associated with this industry. In this article, you will be taught how to begin with sports betting.
11 tips on Sports Betting for Novices
1. Personal Preferences vs Second Choices
The very first thing oddsmakers consider when they broadcast a betting line on sports is determining which is the favorite team and which one should be the underdog.
Naturally, you would want a team that will let you earn more bucks, thus tagging them as your favorite. The favorite team, which is expected to win, will have a negative sign on its odds and while the other team will get a positive mark. If this is a game of chances, one would be offered two options – “pick them” or “pick me”.
Moneylines are one way to bet on your favorite or underdog team. This is merely base on who wins the game. The favorite team gets a minus label, like -100, -200, -300, and so on. If your favorite team is a -100, then this means that you must be ready to give $100 in order to win $50. This is so because favorites have more chances of winning; thus, you should accept more risk when you choose to bet on them.
Another way to bet on a sports betting industry is by the point spread. This is done by betting on the margin of wins. The favorite team “gives” points while the second-best “gets” points.
For instance, if you like to bet in an NBA game, then let’s say the Bulls give 7 points while the Cavaliers get 7 points.
When you bet for the Bulls, in order to win the game, they need to score more than 7 points. This means that if they got 9 points, you are covered. However, if your favorite team only gets a lead of exactly 7 points, then it is considered a push. You will not lose nor win anything, and you just get your original bet.
On the other side, if you bet for the underdog team, you need the team to either win the game or lose by six points or lower in order to cover the bet and win the game.
Spreads are widely used for all sports. However, this is not commonly used for basketball and football.
4. Meaning of -110 on the bet
This value is the tax or the takeout you need to pay to the sportsbook in order for you to be accepted in the sports wager.
Let’s say the favorite team gets a -10(-110). When you bet on the favorite team, you need to 10-point favorite and risk losing $110 to get a $100 win.
This number could also be positive. For instance, the team gets a -5(+110), this means that if you bet on this team and the 5-point favorite is covered, you will earn $110. If you lose, you’ll only lose $100.
5. Over/unders (Total)
Aside from tagging the favorite and underdog team, oddsmakers will also assign the total number of scored points in the game or commonly referred to as the over/unders or total.
You can then put your wager on whether you think that both teams could go under or over the assigned total number of points.
6. Where to Bet
Nowadays, there are already numerous online sportsbooks that you can join and start betting. Just make sure that it is legit and trusted by lots of sports enthusiasts like you.
7. How much should you bet
Only you have the final call as to how much you are willing to risk for a game. A good rule that you can apply is to risk only what you are willing to lose. This industry is not a sprint, and there will always be good and bad days. Thus, we recommend you to use a flat-betting approach.
This approach means that you should only bet a standard amount and only risk about 1 to 5 percent from your bankroll. This will help you prevent losing your whole bankroll, especially during a bad day, and set yourself to get a positive ROI during good days.
8. How to bet
Again, you have to bet on a legalized and trusted sports betting site. This will help you guarantee your win without getting worried that the online sportsbooks you joined are illegal.
9. Lines are moving
Like the stock market, the sports betting industry is moving. During the day, bookmakers will modify the chances and the probabilities as determined by the news and the action they are taking. Your favorite team could get a 5-point favorite, or it could go to a 7-point favorite.
10. Choose the finest line
Lines are different on every sportsbook because each book caters to a wide array of clients. In consequence, one team could get -7 on one sportsbook and get a -7.5 on another sportsbook. Thus, you need to access not only one sportsbook so that you can choose for the sportsbook that offers the best line. The added half-point may be small, but it could further your chances of winning the bet.
11. Know your fortes and weak points
You need to keep track of your progress in order to determine your weaknesses and strengths in online betting. Do you think you do well in betting for basketball games or football games? Are you a hustler when betting on over/under or on spreads? By knowing which thing works for you, you are allowing more chances of winning. Plus, you can also learn about your weaknesses so that you can improve on it, thus increasing your chances of winning.