Sports betting is a growing industry and an evergreen one at that. Betting on horses and other forms of sports has been going on since ages. But with the advent of technology and internet sports betting has been made accessible to folks from all walks of life all over the world. As more and more people get into the world of sports betting, a quick tour, articles or guide about how to bet on sports, the betting terminologies and how to place bets are very useful. Such articles on basics of sports betting are often called as sports betting 101. 101 is synonymous with basic learning and hence the name Sports Betting 101.
This article is a quick help for you to understand the basics of sports betting.
Sports Betting 101- Tips for sports betting
Never start with huge bets. Decide your budget. Set aside that money only for betting. Do not think that you will recover that money and will be able to fund your additional expenses. While betting be prepared to lose that amount. If you cannot afford losing it, do not bet.
Never bet when your mind’s decision making capability is impaired. Be it alcohol, stress, drugs or any other form of diversions to the mind, bet only when you are in a proper state of mind. There are many a cases when in the euphoria of having taken a few drinks; bettors feel that they are invincible. This mind set is the most dangerous one.
Read, read and read. Do extensive research on the internet to learn the concepts of sports betting, before taking the plunge into higher stakes.
Sports Betting 101- How to interpret point Spread and money line
Point spread and money line are the two popular methods of reading the odds offered by bookmakers.
Money line is more used than point spread. Point spread was introduced later on to add more excitement to betting.
An example will show you how to interpret a money line
For a match between Team A and Team B the odds given by bookies are as below
Team A -130 (2.30 decimal odds)
Team B +120 (2.20 decimal odds)
To win 100$ on Team A, a punter needs to risk losing 130$ in case A loses. Whereas a Team B, which is marked as the underdog with the + symbol, win will earn 120$ for a punter who has risked 100$.
A point spread is similar to moneyline but here an additional clause is added to the odds. A margin is added to the odds to increase the scope of the bet.
An example will show how to interpret a point spread bet
For a match the point spread bet looks like this
Team A -4 – 120 (2.20 decimal odds)
Team B +4 -120 (2.20 decimal odds)
Team A should win by more than 4 goals if a punter wants to earn 100$ for the 120$ which he has risked. If you are betting on Team B, you still stand to win your bet if team B loses by not more than 4 goals. In case Team A wins by 5 goals, it is a draw and money is refunded.
Use these 101 guides and embark on a journey into this uncertain but exciting world of sports betting.