There’s money to be made in sports betting provided that you have the right intel and the sports knowledge to back it up. We can’t help too much with the second part, but we can and will take you through this beginner’s guide to betting on US spots to show you the ropes.
In this article, we’ll cover everything you need to know from how to place your bets to how to ensure they have a greater chance of success, with a few beginners betting tips thrown in.
How and Where to Place a Bet
There are multiple options for how and where you can place a bet, especially with online sportsbooks becoming increasingly popular. Although you can still go into a physical betting shop to place your wager, more and more people are choosing to bet online.
Trying to find the best sportsbook amongst the hundreds that are available can be tricky, but try to choose based on the following criteria:
- Reputation: One of the most important things to look out for is the reputation of a sportsbook, as this will be a big indicator of whether or not you should use it. Consider the site’s age, if it has a gambling license, and any customer reviews.
- Sports variety: Think about how many sports are offered by a sportsbook and whether or not you’d be better off finding a niche sport like cycling or football.
- Odds and lines: You’ll find different odds and lines depending on the sportsbook you’re looking at, so make sure the ones you end up choosing are competitive.
- Bonuses and promotions: Each sportsbook will offer their own promotional offers and bonuses, so research a few different options before making your final decision.
However, it’s important to remember that certain countries or states may have anti-gambling laws and legislation that punishes you if you’re caught trying to bet on sports, even if they’re occurring in the US, so check the local laws to make sure that betting on sports isn’t illegal.
Tips For Betting on US Sports
Even when you know how to bet on sports in the US, it doesn’t necessarily mean you’ll be profitable. It takes some practice to pick up the tips and tricks that professional sports bettors have been using for years, but here are some beginner’s tips to get the roulette ball rolling.
1. Start Off With Small Bets
Practice makes perfect, so don’t waste money while you’re still crafting your strategy and think of the first few as practice bets. Some people are able to pick up certain patterns quite quickly, but for the most part, it’ll take some time before you learn how to beat a sportsbook.
Try to keep your initial bets under around $20. This will give you plenty of room for error without draining the entire pot you’ve set aside for sports betting before you’ve selected a winning strategy. But how do you work out what your budget limit should be?
It’s a good idea to decide on an amount as your total betting allowance which should be used solely for this purpose. Divide your budget by 100 and place bets that are no higher than the number this gives you until you’re consistently achieving successful results.
2. Keep Your Focus Area Small
Sportsbooks will often offer a variety of sports for you to bet on, but it’s better to choose a smaller area of focus for your bets, especially if you’re just starting out in sports betting.
It can be tempting to dive straight into the deep end by betting on your favorite teams or huge games like the Super Bowl, but stick to the games you’ll have more knowledge of in order to back up your bets. Fewer, smart bets are better than several uninformed ones.
Plus, by focusing on a small area of sports betting you’ll be more likely to increase your knowledge of the teams and players which will help you place better bets.
3. Know the Odds/Lines
Check the odds according to Fanduel which is one of the top betting sites we’ve come across before placing your bets and you’ll have a much better chance of picking the winning team or player. Always research different odds to make sure you choose the best available.
American betting odds usually have a three-digit number with a +/- in front of it. The negative numbers are used to indicate which are the favorites on the betting line and the number dictates how much you would need to place down as a bet in order to win $100.
Positive numbers point at the underdogs and again, the number indicates how much money you’d be able to walk away with if you put $100 down as a bet. To find out more about how to read sports betting odds, check out great odds/betting sites available online.
4. Treat Sports Betting Like a Business
Sports betting can make a big match even more exciting, but amongst having all this fun, remember that you’re betting your hard-earned money on the outcome, and the point of this is to make a profit. Hence why you should treat sports betting like a business, in a way.
If you want to succeed, keep your eyes on the prize and don’t allow yourself to be distracted. Like most serious businesses, you should keep track of your budget, results, mistakes, and every decision you make should be with the aim to increase your “business” profit margins.
To help keep things simple, you can work with a set bankroll that allows you to separate your sports betting money from the rest of your finances, which will help you keep track of it.
We hope you’ve found this beginner’s guide to betting on US sports a useful jumping-off point for you. With that said, remember that it’s best to dip your toe in the water before going all in, so keep in mind our tips and tricks for successfully betting on US sports.