Our betting expert teaches you everything you need to know about betting on sports online in 2022. From the NFL to UFC, there’s plenty of sports available to bet on, with a lot to understand for newcomers to online sports betting.
10 things you need to know about Sports Betting
- The Moneyline
- Betting on the Spread
- Totals Betting / Overs/Unders
- Parlay Betting
- Where to place your sports bets
- Comparing the best odds
- What does -110 mean?
- Watch out for line movement
- How to place a bet
- How much money should you bet?
- What sports can you bet on?
The Moneyline
Moneyline bets are the most basic type of sports wager where you simply pick the winner. The odds of a moneyline are based on the probability of a result, such as one team beating another.
There are no spreads or handicaps involved in the game, so a moneyline reflects the probability of the outright result, with low-risk moneylines paying smaller returns and higher-risk moneylines paying bigger returns.
The team with the lower odds on the moneyline are known as the favorites, and the underdogs are the team with longer odds. As expected, the odds are longer on the underdogs as they are less likely to win the game.
Moneyline favorites are indicated by a negative value (-) next to their odds and moneyline underdogs are indicated by a positive value (+) next to their odds.
Betting on the Spread
Spread betting, or point spreads, are used by sportsbooks to make uneven games even. A point spread is assigned to a game based on the expected difference in the final score or result, and bettors must decide how much stronger one team is than the other.
Sportsbooks set a handicap between the two sides, forcing the favorite to win by a certain number of points (also known as “covering the spread”) in order to win the bet while allowing the underdog to win outright or lose by a certain number and still win the bet.
The point spread favorite will have a negative (-) value to its spread while the underdog will have a positive (+) value to its spread.
Totals or Over/Under
Over/Under bets, or totals, are wagers on the combined total number of points, runs, or goals scored by both teams in a game.
Oddsmakers will assign a total to a game and bettors can choose whether the actual final score will go over or under that projected total.
For example, If a total is set at 40 points, a bet on the over would need 41 or more combined points to win while a bet on the under would need 39 or fewer combined points to win.
If the final score produces exactly the same amount of points as the Over/Under total, it’s deemed as a push and stakes are returned.
- Find out more about Over/Under betting.
Parlay Betting
A parlay is a wager type in which two or more bets are combined together to create one bet with a larger payout. The catch being that all the selections must win for the bet to pay out.
Sportsbooks will give you bigger and better payouts for adding more games to your parlay, because winning it gets more unlikely with every pick you add in.
You can parlay point spreads, moneylines, over/unders, player props and more. Most people’s betting parlays will try to create a lottery-type payout with many games tied together.
Parlay bets are great ways of turning a small stake into a huge payout, but the flip side of this benefit is that the more picks you add, the lower the probability of your parlay winning becomes.
- Check out the best parlay betting sites
Where to place your Sports bets
There’s many sportsbooks in the USA competing for your sports bets, and we’ve highlighted the best sports betting sites out there. Check out the best sports betting sites in the USA, as well as the best sportsbooks available in New York.
Check out the best sports betting sites and apps
- Check out the best sports betting sites
- Download the best sports betting apps
Compare the best odds
The odds on a specific wager can vary based on the sportsbook, because different books have different strengths in odds.
As a result, one betting site may have the Knicks at +200 on the moneyline, while another has +225. Having access to more than one sportsbook allows you to shop for the best odds.
Getting a slight increase in odds might not seem like a huge deal, but it adds up over the long run, and if your bet wins, it will increase your payout.
What does -110 mean?
The odds of -110 are the most common odds in US sports betting. Simply put, -110 means that for every $100 a bettor wants to win, they must risk $110. If a bettor wanted to win $100 on -110 odds, they would need to risk $110.
The -110 odds are commonly used with point spreads, with both sides of the spread listed at -110, also known as flat. These odds are also used for the over and under markets on total points.
It is often the case that the odds of -110 will always stay the same, and the line at which the spread or total points is set will move. For instance, the Bills (-7.5) may be -110 on Friday night, but come Sunday morning, and the Bills with a whole host of injuries, could be (-5.5) to cover, the still be at -110.
- Read more about how sports betting odds work
Keep an eye out for line movement
Sports betting lines are constantly changing, with many factors affecting the probability of certain outcomes. During the days and hours leading up to an event, sportsbooks will adjust lines and odds depending on news, injuries and other events.
For example, the Giants may start as 7 point favorites over the Jets, and many people could jump on the Giants to cover at -7.
This may result in the Giants line moving up to -7.5, or even -8. Or if the Giants QB gets an injury before the game, the Giants line would move the other way, to -6 or even lower.
Make sure you keep notice of line movement, and by checking the latest sports news, you may be able to catch some good breaks on some higher paying lines.
How to place a bet
Online sports betting is rapidly growing across the USA, meaning sports bettors have more options than ever before.
The following states all have legalized online sports betting, with each state having different sportsbooks available for online sports betting:
Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Illinois, Indiana, Iowa, Louisians, Nevada, New Hampshire, New Jersey, New York, Michigan, Massachusetts, Montana, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington DC, Washington, West Virginia and Wyoming.
- Find out more about where sports betting is legal
- Check out the full step by step guide on how to place your first bet
How much money should you bet?
The amount that you should bet differs for each person, but a good rule to follow is to risk only what you can afford to lose.
Remember, sports betting is not a get rich quick scheme, and can be profitable in the long run. There will be days where you are up, and days you are down. Managing your betting funds is important, and make sure you never chase your losses.
A flat betting method is a good approach to sports betting. This involves wagering the same amount on every game and risking only 1% to 5% of your bankroll per play, the bankroll being money you have allocated for betting. For example, if you are starting with a bankroll of $100, you should risk no more than $5 per game.
What sports can I bet on?
All of the major sports in the USA are available to bet on, with the most popular bets on the NFL, NBA, NHL and College Basketball.
You are also able to wager on sports around the world, whether it is the English Premier League, tennis tournaments across the globe, or other sporting events happening outside the USA.
It is worth noting that each sportsbook will have different sports available, with the best online betting sites having a wider range of sports to bet on than others.
How to bet on Sports – A step-by-step guide
1. Pick your betting sites
While the process of joining a site is seamless and only takes a few minutes, picking a sports betting site is more challenging.
The best betting sites online come with many benefits, and you get better value for your money. They offer higher odds, better promotions, more markets, and they are safe to use.
You can do your own research and look for the best online sportsbooks, but It’s easier to pick one of these top-rated betting sites.
2. Open your account
Once you’ve selected your chosen sportsbook, it’s time to open a new account. You will be asked to fill in some personal information like name, address, and email address, and pick login credentials such as a username and password.
This will be where you enter any promo code you have, in order to claim any bonus offer. It takes only a minute and you’re good to go.
3. Make your deposit
Once you’ve created your account, now is the time to make your first deposit. Depending on which bonus offer you’ve chosen, there may be a minimum deposit requirement in order to take advantage of the promotion.
The best online betting sites will have a variety of payment options available. Debit cards, credit cards, paypal and other e-wallets are accepted at all of the best online sportsbooks, meaning you’ll have plenty of choice.
4. Place your first wager
Once your money has been deposited into your account, you’re ready to place your first bet. The layout of each sportsbook will differ, but all are easy to understand and navigate.
The main events of the day will often be on the homepage, with the most popular sports at the forefront of the site.
Having found a game or team that takes your fancy, you are able to bet on them. Once you’ve selected what you want to bet on, this will appear in your betslip.
Enter your chosen stake, and you will see the returns of your bet should the wager win. Once you’re happy with your selection and stake, hit confirm bet.
5. Withdrawing your winnings
Sit back and wait for the outcome of the game, or whatever it is you’re wagering on. If your bet is successful, you’ll be able to withdraw your winnings straight away.
Head over to ‘My Account’ and navigate to the Cashier page on the main menu. Select the Withdrawal tab, and click on your desired withdrawal method and follow the steps to process your withdrawal.
Different withdrawal methods will have different time frames for the money being in your account, so it is worth checking which withdrawal methods pay out fastest.
Our betting expert teaches you everything you need to know about betting on sports online in 2022. From the NFL to UFC, there’s plenty of sports available to bet on, with a lot to understand for newcomers to online sports betting. 10 things you need to know about Sports Betting The MoneylineBetting on the SpreadTotals Betting / Overs/UndersParlay BettingWhere to place your sports betsComparing the best oddsWhat does -110 mean? Watch out for line movementHow to place a betHow much money should you bet?What sports can you bet on? The Moneyline Moneyline bets are the most basic type of sports wager where you simply pick the winner. The odds of a moneyline are based on the probability of a result, such as one team beating another. There are no spreads or handicaps involved in the game, so a moneyline reflects the probability of the outright result, with low-risk moneylines paying smaller returns and higher-risk moneylines paying bigger returns. The team with the lower odds on the moneyline are known as the favorites, and the underdogs are the team with longer odds. As expected, the odds are longer on the underdogs as they are less likely to win the game. Moneyline favorites are indicated by a negative value (-) next to their odds and moneyline underdogs are indicated by a positive value (+) next to their odds. Betting on the Spread Spread betting, or point spreads, are used by sportsbooks to make uneven games even. A point spread is assigned to a game based on the expected difference in the final score or result, and bettors must decide how much stronger one team is than the other. Sportsbooks set a handicap between the two sides, forcing the favorite to win by a certain number of points (also known as “covering the spread”) in order to win the bet while allowing the underdog to win outright or lose by a certain number and still win the bet. The point spread favorite will have a negative (-) value to its spread while the underdog will have a positive (+) value to its spread. Totals or Over/Under Over/Under bets, or totals, are wagers on the combined total number of points, runs, or goals scored by both teams in a game. Oddsmakers will assign a total to a game and bettors can choose whether the actual final score will go over or under that projected total. For example, If a total is set at 40 points, a bet on the over would need 41 or more combined points to win while a bet on the under would need 39 or fewer combined points to win. If the final score produces exactly the same amount of points as the Over/Under total, it’s deemed as a push and stakes are returned. Find out more about Over/Under betting. Parlay Betting A parlay is a wager type in which two or more bets are combined together to create one bet with a larger payout. The catch being that all the selections must win for the bet to pay out. Sportsbooks will give you bigger and better payouts for adding more games to your parlay, because winning it gets more unlikely with every pick you add in. You can parlay point spreads, moneylines, over/unders, player props and more. Most people’s betting parlays will try to create a lottery-type payout with many games tied together. Parlay bets are great ways of turning a small stake into a huge payout, but the flip side of this benefit is that the more picks you add, the lower the probability of your parlay winning becomes. Check out the best parlay betting sites Where to place your Sports bets There’s many sportsbooks in the USA competing for your sports bets, and we’ve highlighted the best sports betting sites out there. Check out the best sports betting sites in the USA, as well as the best sportsbooks available in New York. Check out the best sports betting sites and apps Check out the best sports betting sitesDownload the best sports betting apps Compare the best odds The odds on a specific wager can vary based on the sportsbook, because different books have different strengths in odds. As a result, one betting site may have the Knicks at +200 on the moneyline, while another has +225. Having access to more than one sportsbook allows you to shop for the best odds. Getting a slight increase in odds might not seem like a huge deal, but it adds up over the long run, and if your bet wins, it will increase your payout. What does -110 mean? The odds of -110 are the most common odds in US sports betting. Simply put, -110 means that for every $100 a bettor wants to win, they must risk $110. If a bettor wanted to win $100 on -110 odds, they would need to risk $110. The -110 odds are commonly used with point spreads, with both sides of the spread listed at -110, also known as flat. These odds are also used for the over and under markets on total points. It is often the case that the odds of -110 will always stay the same, and the line at which the spread or total points is set will move. For instance, the Bills (-7.5) may be -110 on Friday night, but come Sunday morning, and the Bills with a whole host of injuries, could be (-5.5) to cover, the still be at -110. Read more about how sports betting odds work Keep an eye out for line movement Sports betting lines are constantly changing, with many factors affecting the probability of certain outcomes. During the days and hours leading up to an event, sportsbooks will adjust lines and odds depending on news, injuries and other events. For example, the Giants may start as 7 point favorites over the Jets, and many people could jump on the Giants to cover at -7. This may result in the Giants line moving up to -7.5, or even -8. Or if the Giants QB gets an injury before the game, the Giants line would move the other way, to -6 or even lower. Make sure you keep notice of line movement, and by checking the latest sports news, you may be able to catch some good breaks on some higher paying lines. How to place a bet Online sports betting is rapidly growing across the USA, meaning sports bettors have more options than ever before. The following states all have legalized online sports betting, with each state having different sportsbooks available for online sports betting: Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Illinois, Indiana, Iowa, Louisians, Nevada, New Hampshire, New Jersey, New York, Michigan, Massachusetts, Montana, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington DC, Washington, West Virginia and Wyoming. Find out more about where sports betting is legal Check out the full step by step guide on how to place your first bet How much money should you bet? The amount that you should bet differs for each person, but a good rule to follow is to risk only what you can afford to lose. Remember, sports betting is not a get rich quick scheme, and can be profitable in the long run. There will be days where you are up, and days you are down. Managing your betting funds is important, and make sure you never chase your losses. A flat betting method is a good approach to sports betting. This involves wagering the same amount on every game and risking only 1% to 5% of your bankroll per play, the bankroll being money you have allocated for betting. For example, if you are starting with a bankroll of $100, you should risk no more than $5 per game. What sports can I bet on? All of the major sports in the USA are available to bet on, with the most popular bets on the NFL, NBA, NHL and College Basketball. You are also able to wager on sports around the world, whether it is the English Premier League, tennis tournaments across the globe, or other sporting events happening outside the USA. It is worth noting that each sportsbook will have different sports available, with the best online betting sites having a wider range of sports to bet on than others. How to bet on Sports – A step-by-step guide 1. Pick your betting sites While the process of joining a site is seamless and only takes a few minutes, picking a sports betting site is more challenging.The best betting sites online come with many benefits, and you get better value for your money. They offer higher odds, better promotions, more markets, and they are safe to use. You can do your own research and look for the best online sportsbooks, but It’s easier to pick one of these top-rated betting sites. 2. Open your account Once you’ve selected your chosen sportsbook, it’s time to open a new account. You will be asked to fill in some personal information like name, address, and email address, and pick login credentials such as a username and password. This will be where you enter any promo code you have, in order to claim any bonus offer. It takes only a minute and you’re good to go. 3. Make your deposit Once you’ve created your account, now is the time to make your first deposit. Depending on which bonus offer you’ve chosen, there may be a minimum deposit requirement in order to take advantage of the promotion. The best online betting sites will have a variety of payment options available. Debit cards, credit cards, paypal and other e-wallets are accepted at all of the best online sportsbooks, meaning you’ll have plenty of choice. 4. Place your first wager Once your money has been deposited into your account, you’re ready to place your first bet. The layout of each sportsbook will differ, but all are easy to understand and navigate. The main events of the day will often be on the homepage, with the most popular sports at the forefront of the site. Having found a game or team that takes your fancy, you are able to bet on them. Once you’ve selected what you want to bet on, this will appear in your betslip. Enter your chosen stake, and you will see the returns of your bet should the wager win. Once you’re happy with your selection and stake, hit confirm bet. 5. Withdrawing your winnings Sit back and wait for the outcome of the game, or whatever it is you’re wagering on. If your bet is successful, you’ll be able to withdraw your winnings straight away. Head over to ‘My Account’ and navigate to the Cashier page on the main menu. Select the Withdrawal tab, and click on your desired withdrawal method and follow the steps to process your withdrawal. Different withdrawal methods will have different time frames for the money being in your account, so it is worth checking which withdrawal methods pay out fastest.