This sports betting 101 guide is here to tell you all about the basics of betting on sport. Essential information for anyone looking to bet on sports for the first time, but doesn't know where to begin.
Here you will get a walkthrough of the basic process of making your bets, along with fundamentals on what things like odds actually are. Plus with simple tips on making your bets, picking up bonuses and finding the best betting sites you’ll have all you need to make the perfect start with your sports betting.
This is sports betting 101, so we'd better start betting guide right at the beginning. Betting on sport means making a prediction on what you think is going to happen in a sporting encounter, and backing up this prediction with your real money betting stake.
You could make predictions on anything from who will win the Champions League soccer tournament, to who will win a game in the NBA, which player will score most runs in IPL cricket and so on.
If your prediction is correct, you will win back your stake along with an extra amount that is determined by the odds of what you are betting on. If your prediction is wrong, you will simply lose your betting stake.
When you make your predictions at a bookmaker, you will be doing so on the odds that they create. You can get odds for anything from who will win a game in the NHL to whether it’ll snow this Christmas.
Odds simply give you an indication of how likely something is to happen, and they will also determine what your potential payouts will be. While we've got this dedicated guide to the fixed odds meaning, here are the main odds formats that you’re likely to see:
Perhaps the simplest odds format to understand. The higher the number, the less likely it is to win, but the better your returns would be.
So if you saw odds of 1.50 for Real Madrid to beat Barcelona who had odds of 2.50, you would know that Real Madrid were the favourites whereas Barcelona were the underdogs. Therefore betting on a Real Madrid win would make it more likely that you’d win your bet, but your returns would be as good. Here's how it works:
Potential payout = your betting stake multiplied by the decimal value
So if you bet $10 on odds of 1.50 and won, you would get $15 in returns.
This is where the odds are represented in a fraction with your stake represented by a number on the right, and your potential payout represented by a number on the left.
So if you bet $10 on fractional odds of 4/1, you would expect to win back a total of $50 from that bet. This would include the $10 of your original stake, and then $40 of pure profit.
Here you will get the favourites represented with a minus symbol next to their odds, whereas the underdogs will be represented with a plus symbol next to their odds.
Let’s take an example. An NHL game would have odds of -200 for Toronto Maple Leafs to beat Vancouver Canucks who had odds of +150. This means that you would have to bet $200 to win $100 when backing the Maple Leafs, compared to a bet of $100 to win $150 when backing the Canucks.
Sports betting is hugely popular and there are plenty of reasons as to why lots of people enjoy the activity. However, there are also some downsides to keep in mind. So here is a quick overview as to the pros and cons of betting on sports:
The good news is that you should get a massive number of ways to bet on each sporting event. Here are just some of the main betting markets that you are likely to come across:
| Bet type | Notes |
|---|---|
| Straight (1X2 or moneyline) Bets | These are known by slightly different names depending on where in the world you are and are the simplest form of betting. You pick who will win the event – player, team etc. |
| Accumulators or Parlays | This is a combination of bets placed as a single wager. All bets must win for the sportsbook to pay out at cumulative odds |
| Over/Under Bets | Used for points scored in a game, either total or by one participant. Usually expressed as 2.5 or 4.5 for example, as you can’t score half a goal |
| Prop Bets | Bets on events within a game, such as who the first goalscorer might be in soccer, or who might be first to get a yellow card |
| Overalls (Future Bets) | Long term bets on the outcome of a league or cup competition, such as the winner of the EPL or Superbowl |
Of course, there are other types of bets, but these cover the most basic bets you’ll be placing. If you want to know about them in any more details, we can recommend the accumulator bets explained and other guides on this site.
Now you know what types of bets exist - you need to know how to place one. So here is a quick guide to what you need to do:
Now you can simply sit back and watch the sporting action and hope that your predictions are correct.
It’s pretty easy to bet on sport but not so simple to do it well. So here are some handy tips to get you started:
First of all, you will need to set a deposit limit to ensure that you don’t spend more than you mean to. Plus be sure to define what kind of bet amount you feel comfortable losing.
It’s essential that you do plenty of research into things like recent form, head to heads, injuries and so on. After all, betting on nothing more than gut instinct rarely ends well.
Don’t feel like you have to bet on the match-winner every time. After all, there could be some player props bets that could add a whole different experience and potentially give you a better chance of winning too.
It’s pretty easy to get some kind of betting bonus that can do things like give you extra credit or even refund your losses. Just remember to check the small print of these deals first.
Above all, the main theme of this sports betting 101 is to treat betting as a fun kind of entertainment. This means not getting stressed out making some ridiculous parlay but merely adding a little extra entertainment to the big game.
Now that you’ve read our sports betting 101, you’ll be keen to give it a try. So the good news is that we’ve shortlisted a bunch of recommended betting sites in the banners of this page that’ll each give you a legal, safe and fun way to make your bets. Here are the key things that we looked for when picking these betting sites:
Betting responsibly is absolutely vital, so we’ll finish up this betting 101 with a look at responsible betting and some common mistakes to avoid.
Be sensible. Decide how much money you are willing to use for betting and, importantly, stick to it. This should be an amount you can afford to lose without it affecting your ability to pay bills or think straight.
On that note, it's natural to want to win back money after you’ve lost, but this can lead to emotional betting, which rarely ends well. Losses happen, and moving on is the best, if not easiest way forward.
To help with this, you’ll see online sportsbooks can help you set deposit, wager, and time limits. Use these if you think it will help.
Sitting in front of a screen for a long time can lead to tiredness and poor decision-making. Step away from the screen often to give yourself a break.
Do your research on your chosen sports, but also improve your bettor’s education. The guides on this site are an invaluable source of free information.
If you think you might not be in control as you’d like, seek help. There are links on almost every page of most sportsbooks that will take you straight to where you need to go.
So you’ve read this guide - what next? Well, you’ve got all your checklists of what to go a way and do next, like researching your sports and finding the right place to bet. You’ve also got some handy tips on how to avoid some of the pitfalls, so you might want to get started if you feel ready.
If you want to look beyond this beginner level, however, there are plenty of other guides available here, for free to help you. If you want something like straight betting explained, there’s a guide, and others that cover more in depth topics like arbitrage and responsible gambling. These will fill in any gaps in your knowledge and allow you to make more informed choices about what you do at online sportsbooks. So, now the only thing you need to do is to sign up to any of the online bookmakers listed in this guide and enjoy making your bets.
A straight bet, also known as a 1X2 bet, is a simple wager on which player or team will win a specified event or if the result will be a draw or tie.
Placing a bet is usually straightforward. Most sportsbooks follow an intuitive layout: sports on the left, markets in the middle, and your betting slip on the right.
Taking breaks helps avoid poor decision-making caused by prolonged screen time. A break can serve as a reset, aiding in more informed and strategic betting decisions.
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