Online Sports Betting Guide Rules, Odds, Bet Types and Strategy
By Matt Speakman,Betting Expert at online-gambling.com
Matt Speakman
Betting Expert at online-gambling.com | Rules Difficulty | Medium |
|---|---|
| Skills to Start | Basic |
| Advanced | Expert Strategy |
| Popular Bet Types | Singles & Accumulators |
Sports betting is one of the biggest areas of the online gambling industry. There are so many markets, bet types, and odds formats available that it can be quite confusing, even for experienced gamblers, to know where to start. If you want to understand how it all works before wagering real money, then you’ve come to the right place.
In the following article, we will discuss everything online sports betting related. We will cover the rules, terminology, bet types, and odds formats, paying special attention to strategy, staking plans, common mistakes, and responsible gambling.
How to Bet on Sports
This article is concentrated on helping inexperienced players understand the world of online sports betting. We will give thorough instructions on how you can place online sports bets, and we’ll explain to you the most important terms and markets available at online betting sites.
Those of you who have never placed a real money bet on a sports event might find online sports betting a bit confusing at first, but we assure you, the whole process of making a bet is very simple and fast.
In order to be able to place sports bets online, first, you have to open an account at a betting site. There are numerous factors that you should have in mind when picking a new sportsbook: the trustworthiness of the site, the variety of betting markets, odds, payment methods, bonuses, usability, and more.
After you’ve selected the online bookmaker that suits you best, it is time to register. This process normally doesn’t take more than a few minutes, and as soon as you verify your identity, you’ll be able to make a real money deposit and place your first bet.
Below, you can see the basic step-by-step instructions on how to bet on sports.
- Create an account – Make a registration at your selected online sports betting site. Normally, operators ask for your personal details, and you have to provide some sort of an ID document to confirm your identity.
- Deposit – After you’ve passed the verification process, you must select the payment method which is most comfortable for you. Usually, online sportsbooks provide plenty of possible payment options, and transactions happen instantly.
- Get the bonus – Most online betting sites offer a welcome bonus to their new customers. Always be sure to read the terms and conditions of such offers, as some of them require a bonus code, while others exclude some payment options from the first deposit bonus.
- Select your favorite sport and event – Select your favorite sport from the list and select the game or tournament you wish to make a bet on. After you’ve selected the sports event, pick the market you wish to gamble on and click on your prediction.
- Enter the stake – A bet slip will appear, featuring your selected bet. Enter the stake you wish to wager. Normally, you will be able to see your potential win if your prediction turns out to be correct.
- Place the bet – Click on ‘Place Bet’, and you’ll be done.
As you can see, there’s nothing complicated. After you’ve successfully made your first bet, you’ll be able to see it at the ‘My Bets’ section most sports betting sites have. After the bet has been settled, if you made the right prediction, the winnings will be added to your account.
All You Need to Know: Info & Basic Instructions
Below, we get into the different betting terminology, bet types, rules and terms, and any other basic features of the respected sports gambling sites.
Read on, and you’ll not only get essential instructions on how to properly benefit from a sports betting account, but you’ll also learn useful information about the positives of sports betting online. Feel free to use the navigation menu below to jump straight to the paragraph that most interests you.
Sports Betting Rules
There are numerous sports betting sites available online, and each of them has different rules, terms, and conditions that you must comply with in order to be able to use the provided services.
Most online bookmakers are very strict, as they are regulated by internationally recognized gambling commissions. Here are some of the most common and essential rules that online bookmakers apply.
- One account – One account is allowed per player, IP address, household.
- Licensing and Regulatory Authority – You may play only from countries where online sports betting is legal.
- ID Verification – You may make bets, deposits, and withdrawals at a sports betting site only if your age and identity have been fully verified.
- Limits – You may wager real money amounts only between the allowed minimum and maximum stake.
- Gamble Responsibly – Most sites are committed to responsible gambling and encourage players to bet only what they can afford.
The main objective of sports betting is to beat the ‘oddsmaker’ and win some money by successfully guessing the outcome of a sports event or a particular situation in the sports event. Oddsmakers are the people who set the betting odds, way before the actual sports event. Online sportsbooks are betting sites that simply accept sports bets as a form of gambling.
Sports Gambling Terms
Sports gambling terminology might be a bit confusing at first, as there is a plethora of terms that beginners will be unfamiliar with. The glossary below contains 15 of the most frequently used sports betting terms that you will come across at online bookmakers.
- Accumulator Bet – A bet slip that involves a series of bets in one wager (4 or more). The odds of each selection are multiplied by the next. Each of the included selections must win for the accumulator bet (Acca) to win.
- Bankroll – The available funds you have to bet with.
- Asian Handicap / Lines – An alternative way to bet on soccer games, where the better team is ‘handicapped’. This type of bet was first launched in Asia, hence the name.
- Handicap – A handicap bet is when the selection is given a ‘handicap’ to overcome in order to win. It’s most common when there’s a strong favorite in a sports game, and in order to ‘even the field’ and get better odds, the selections have been ‘handicapped’.
- Cash out – A very popular and useful feature that allows you to settle your bet before the sports event/market has finished. The cash out price is always lower than the original potential win.
- In-play – Betting on a live event after the game has begun.
- Evens – Even money means your winnings will be exactly the same as the stake.
- Favorite – The team bookmakers expect to win the game.
- Underdog – The team bookmakers expect to lose the game.
- Juice – Aka vig or vigorish, this is the tax sportsbooks take to place your wager.
- Lines – Another term for the odds.
- Moneyline – A bet in which you wager on whether or not a specific team is going to win straight up.
- Margin – This is a bet where the player selects a certain team to win or lose by a specific number of points/goals, etc., regardless of the points spread.
- Points spread – A wager where the sports game or team has to beat the figure set by the oddsmakers in order to be a winning bet.
- Draw No Bet – A sports betting market similar to match betting (final result/winner), where the stake is returned to you if neither team wins an event and the game finishes as a draw in regular time.
This is only a glimpse of the sports betting terminology. Bear in mind that different sports might have different names and terms for their betting markets. Don’t worry if the terminology is too much for you.
The more you get used to sports betting, the faster these terms will become recognizable, as you will meet them on a daily basis.
Types of Sports Bets
As we already explained what an accumulator bet is, it is time to address the other most popular and commonly used types of sports bets. Players can start by making a single bet on an individual sports event and continue to add more selections, in order to increase the total odds.
| Betting Type | Explanation |
|---|---|
| Single | A straight bet on a single sports event. Understandably, this is the most common bet among punters. |
| Double | A bet including two selections from two different sports events. Both selections must win to guarantee a profit. |
| Treble | Also known as Triple bet, it includes three selections from three different sports events. All three selections must win to guarantee a profit. |
| Trixie | A bet including three selections and four bets – three doubles and one treble. A minimum of two selections must win to guarantee a return. For example, a Trixie bet of $5 will cost $20, while a Trixie bet of $25 will cost $100. |
| Patent | A bet including three selections and seven bets – three singles, three doubles, and one treble. A single winning selection will guarantee a return. For example, a Patent bet of $5 will cost $35. |
| Yankee | A bet including four selections and 11 bets – six doubles, four trebles, and one fourfold. A minimum of two selections must win to guarantee a return. For example, a Yankee bet of $5 will cost $55. |
| Super Yankee (Canadian) | A bet including five selections and 26 bets – ten doubles, ten trebles, five fourfolds, and a fivefold straight-up bet (accumulator). A minimum of two selections must win to guarantee a return. For example, a Super Yankee bet of $5 will cost $130. |
| Lucky 31 | A bet including five selections and 31 bets – five singles, ten doubles, ten trebles, five fourfolds, and a fivefold straight-up bet (accumulator). A single winning selection will guarantee a return. For example, a Lucky 31 bet of $5 will cost $155. |
| Heinz | A bet including six selections and 57 bets – fifteen doubles, twenty trebles, fifteen fourfolds, six fivefolds, and one sixfold accumulator. A minimum of two selections must win to guarantee a return. For example, a Heinz bet of $5 will cost $285. |
| Lucky 63 | A bet including six selections and 63 bets – six singles, fifteen doubles, twenty trebles, fifteen fourfolds, six fivefolds, and one sixfold. A single winning selection will guarantee a return. For example, a Lucky 63 bet of $5 will cost $315. |
Different online sportsbooks accept a different total number of included selections in a bet. Most commonly, online bookies limit the total number of bet selections from 12 to 15. As you can see, the more games and betting combinations your bet slip includes, the larger the total amount of cash you must gamble.
Bookies Odds & Payouts
Betting odds are one of the most important aspects of sports betting. It’s understandable that every player wants to have access to the best odds available online. Bigger odds mean bigger profits, and odds quality varies between bookmakers, so it pays to compare prices for the same market. But before you actually start placing real money sports bets, you must understand the odds and payouts for betting on a particular sports event. Generally, there are three types of odds that you will encounter at online sports betting sites.
- Fractional – Fractional odds are most popular in the UK and Ireland. They are written with a hyphen (-) or a slash (/) and are read as ‘A’ to ‘B’. They show the total amount to be paid out for a winning bet in relation to the stake – Your profit/Your stake. For example, betting $5 at odds of 10/1 would return a total of $55 – you have $50 profit (5×10) + your initial stake of $5 (5×1).
- Decimal – Decimal odds are the most popular and preferred type of odds in Europe. They are also the favorite odds format in Australia, Canada, and New Zealand. With decimal odds, working out your return is far easier – you just multiply the odds by your wager. For example, betting $5 at odds 5.0 would return a total of $25.
- American – Also known as Moneyline odds, American odds are favored in America. They are a little different from fractional and decimal odds, as they can be both positive and negative numbers. They are written with plus (+) and minus (-) symbols before the numbers. The plus symbol indicates the underdog in the sports event and signifies the amount that you would win from a $100 bet. The minus symbol indicates the team that is the favorite in the sports event, and the number after it shows how much you would have to stake in order to win $100.
Odds are the foundation of gambling, and understanding how they work and how to calculate them is the first priority for anyone new to sports betting. Decimal odds are the easiest to use and calculate. Most online bookmakers offer all three odds types so that you can personalize the way you see your odds. Regardless of the type of odds you prefer, you should always be able to calculate your payout, so that you know what you’re playing for. As not every sports betting fan is good at math, there is another effortless way to calculate your potential returns – the odds calculator.
Betting odds calculators are very easy to find across the internet and are free to use. Most online sports betting sites show your potential payouts next to your stake when you make a bet, while others have included betting calculators among their helpful features.
Live Sports Betting & Streaming
In recent years live sports betting, also known as in-play betting, has gained tremendous popularity. Just like many online gambling sites that count on their live casino sections, online bookies also get millions in profits from live sports betting.
The opportunity to bet on live sports events adds another level of entertainment to the games, and it has become one of the favorite ways for punters to gamble on sports.
At many sports betting sites, you are able to stream and watch sports live. Very often, certain sports events are not available to watch on TV, but they are free to watch on your favorite sports betting site.
This way, online bookies gain more users and keep you logged in, with an abundance of betting possibilities in front of your eyes.
And if you are a fan of live gambling, then you can test your skills on a live blackjack table. Not a fan of card games? Join a live dealer roulette table instead. Whatever you choose, the world of live gambling is filled with adrenaline and excitement and provides you with an abundance of betting opportunities.
We recommend trying in-play betting once you know the basics. It presents a great way to make more accurate predictions, as you watch the game and see which team or player is playing better. You need a stable internet connection, as the odds are constantly changing based on what’s going on in the game. Picking the right moment to place your bet is essential for being profitable because we all know that a sports game can turn around in an instant.
Betting Exchange
In order to stand out from the crowd, some online gambling sites use the so-called betting exchange marketplace. Instead of placing a bet with your traditional online bookie, betting exchange sites allow gamblers to play the role of the bookie.
In simpler terms, an online betting exchange is like a stock market, and players can ‘buy’ and ‘sell’ the outcome.
Betting exchange sites often provide much better odds than the traditional fixed odds available at the standard online bookies. Basically, when you make your prediction, the betting exchange site matches you with another punter who’s backing the opposite outcome. If more players are backing the same bet as you, the odds are going down and vice versa.
Betting exchange sites depend heavily on their customer base. Without players, there is no money in the markets. That is why these sites do not enjoy the same popularity as standard online bookmakers. Most betting exchange sites make their money by charging a commission which is calculated as a percentage of net winnings for each customer on each sports event or market.
Usually, the basic commission rates vary between 2% and 6%, depending on the exchange.
Cash Out
As soon as it was introduced for the first time, the cash out feature has totally changed the sports betting world. It has become an industry standard and pretty much every sports gambling site has incorporated it. If used properly, the cash out option can be the most valuable tool for a punter, minimizing risk and losses and maximizing profits.
Many online bookmakers also offer partial cash out, allowing you to cash in a proportion of your stake and leaving the rest to play out. This way, players have the chance to return their initial investment very fast, and still play for profits, as long as their prediction is going in the right direction. The cash out option has become so popular and advanced that many betting sites allow you to set rules and limits to your bets. This way, even if you’re offline, your wagers can be automatically fully or partially cashed out when certain criteria or limits have been met.
Mistakes to Avoid
If you are entirely new to the sports betting world, be prepared that you will make some betting mistakes in the beginning. It is inevitable, even if you follow all the instructions and advice in our sports betting guide.
No one likes to make mistakes, especially when they are connected with money, and that’s why below we have listed five of the most common errors beginner players make.
- Not managing your bankroll correctly – This is probably the most common mistake, not only by beginner players but by those with betting experience too. Many players make bets without making any form of a bankroll management plan, and forget that effective money management is extremely important, and a key ingredient to being profitable.
- Always backing your favorite team – We understand that most sports betting fans favor certain sports teams or players. But remember, mixing gambling with emotions rarely leads to good results. Keep in mind that all teams and players go through a rough patch at some point, and your passion can cloud your judgment.
- Betting blind – Many players make bets just for the sake of it, without any research or information about the team or player, they’re wagering on. Even though luck plays its part in all sports events, proper research on the sides, players, form, style of play, conditions, suspensions, rivalries, and so on will give you better chances to make the right prediction.
- Not cashing out – It’s very often when punters get blinded by greed. But as tempting as it might be to go all the way, the usage of the cash out option can save you hundreds, or even thousands. If your bet is going well and the bookie gives you a worthy cash out offer, more often than not, it is better to take the deal and cash in at least a part of your wager. Going all the way and losing everything with a last-minute goal can be quite upsetting, especially when a few moments earlier you had the option to be on profit.
- Chasing losses – A huge mistake for all types of gamblers. When you lose a bet, it can be quite tempting to try and redeem yourself and make up the money you lost by placing a new bet. But this is a very dangerous road. Losing the bets that were ‘supposed’ to win back your losses can pull you into a very harmful cycle. We understand that nobody likes to lose, but losing a bet is not the end of the world, so don’t dig yourself into a deeper hole. Take a break, relax, select a new betting market, do the research, and don’t be influenced by your previous losses.
As you can see, these mistakes will almost certainly cost you some money, but you shouldn’t worry too much. Making mistakes is part of the learning process. It’s important that you learn from them. And remember that these and more mistakes are made even by experienced and successful players from time to time.
In sports betting, and in gambling as a whole, it is impossible always to make the right decisions and be on profit all the time.
The Best Sports to Bet on
Next up are the available sports and leagues that players can bet on at online betting sites. The diversity of sports might not be as huge as the possible slots games available online, but still, it is quite remarkable. Punters have access to nearly every single sport and league in the world.
But what is the best sport to bet on? This is a tricky question. Every sport has its advantages and attractive betting markets, but the most critical factor you should consider is which sport is your favorite.
In which sport do you think you have enough knowledge? Which sport do you enjoy watching the most? Maybe volleyball, darts, handball, snooker, or even greyhounds?
The sports betting industry will grant you plenty of possibilities, but the choice is up to you. In the following paragraphs, we will examine some of the best sports to bet on, tell you the most popular leagues and the most commonly made wagers.
American Football
American football is the most followed sport in the US, but people from all around the globe can place bets on the most famous league in the world – the NFL. It is an exciting and tough sport that provides plenty of amusement and enticing betting possibilities. College football betting also enjoys massive popularity, as in college football games fans can truly see raw talents and exciting plays. The most popular American football betting markets are money line bets, totals, and point spreads.
Every year, Americans celebrate the final day of the NFL season as a holiday. And since legal sports betting has expanded to more states, the amount wagered on the Super Bowl has climbed every year. The American Gaming Association projected more than $6.8 billion in total bets on Super Bowl LIV in 2020, and estimated $1.76 billion in legal wagers alone on Super Bowl LX in 2026.
Football / Soccer
The beautiful game. Football (more known as soccer in the US and other parts of the world) is the most famous and loved sport not only in Europe but in the world.
There are literally hundreds of available bets for the most anticipated games from the biggest championships in the world – the Premier League, La Liga, Bundesliga, Serie A, Champions League, and more.
Soccer betting certainly enjoys huge popularity among punters, as nearly every single sports betting fan has placed a bet on soccer at least once. The most commonly used soccer betting markets are the final result, both teams to score, over/under, corners, special player bets, and correct score.
Horse Racing
Pretty much since horses have been running, people have been betting on them. Horse races are very popular in the United Kingdom, Ireland, Japan, USA, the UAE, France, New Zealand and more. Betting on the outcome of horse races can be quite fun and extremely profitable, only if you know what you’re doing though.
These races are among the most popular live streaming events at online bookmakers. The most famous and popular horse racing betting markets are win, place, and pick 3.
Basketball
Basketball is the most fast-paced, high-scoring, back-and-forth game. It is played everywhere in the world, but when it comes to the top league, there is one undisputed champion – the NBA. Basketball players from all around the globe dream to play there. Punters love to gamble on NBA games, especially those who live in the USA, Canada, and the UK.
NCAA tournaments are also quite popular, and March Madness betting is second only to the Super Bowl. The sport provides amazing opportunities for live bets, and the most popular basketball betting markets are Moneyline, over/under, quarter/period, special player bets, and point spreads.
Baseball
Baseball is another sport that enjoys huge popularity in the United States. The best thing about this sport is that the MLB runs during the summer when the other major pro sports are out of season. Another advantage of baseball betting is that even the worst teams in MLB usually win around 30% – 40% of the games, making them quite unpredictable. The most famous baseball bets are over/under, Moneyline, run line, and first 5.
Ice Hockey
Ice hockey is a sport mostly followed in the United States and Canada. Games from the NHL can be quite spectacular and can provide plenty of betting thrills.
Punters must have a very deep knowledge of the sport though. Normally, games are quite tight and are decided by just one or two goals. The most wagered ice hockey betting markets are Moneyline, Puck line and Over / Under.
Golf
For many, a game of golf is not as exciting and spectacular compared to other sports, especially if you have to watch it, but you haven’t played it. But the sport is actually quite the art and golf requires tremendous precision and skill.
The most famous golf tournaments are The Masters, US Open, The Open, USPGA Championship, and Ryder Cup. Golf betting lovers mostly wager on tournament winner, first round leader, and a hole in one.
Cricket
In recent years, cricket has become a very popular game among punters. The sport enjoys huge popularity in India, UK, New Zealand, Australia, and more. Modern-day cricket has evolved a lot, and it is unrecognizable from its humble beginnings in southern England back in the late 16th century.
The most popular cricket betting markets are on the winner of the match, top team batsman, top team bowler, most match sixes and first over total runs.
Tennis
Tennis betting is second only to football in terms of worldwide popularity, with billions of dollars bet on this sport annually. And the reason for this is simple: there is a tennis match being played somewhere in the world, almost every day and in every time zone.
The most popular tennis tournaments are Wimbledon, the Australian Open, the US Open, and the French Open. In this sport, punters normally support their favorite and bet on tennis betting markets like match winner, set winner, handicaps, and over/under total games.
Boxing / MMA
MMA and boxing are certainly not appropriate for those of you who get dizzy at the sight of blood. In terms of betting, you never actually know if you’re going to win or lose your boxing or mixed martial arts bet until the final bell. No lead is safe because of the possibility of the knockout blow.
Major fighting events draw a huge amount of attention to the sport and fans of one of the oldest competitive sports known to man have plenty of betting markets to choose from. The most popular boxing and MMA betting markets are winner, method of victory and over/under rounds.
Rugby
Rugby union has undergone significant growth in recent years, both in spectatorship and participation, and established itself as a widely popular betting market among punters, especially in the UK. The Gallagher PREM (formerly the Aviva Premiership) is the highest level of competitive rugby in England and the league provides plenty of betting opportunities. Among the most wagered rugby betting markets are match bets, match results, winning margin and first try scorer.
eSports
eSports is one of the fastest, if not the fastest-growing categories in online gambling. Over the last decade eSports betting has grown from a novelty into a category every major bookmaker now prices. Estimates of its size vary widely depending on what is counted, so treat any single headline figure with caution. The most followed eSports games are League of Legends, Dota 2, CS2 (formerly CS:GO), Valorant, and EA Sports FC. The most popular bets are match winner, handicaps, correct score, map X winner and win at least one map.
Sports Betting Strategy for Experts and Tips for Beginners
This section covers some of the most important strategies successful punters use. Just like there are common mistakes that most sports bettors go through, there are certain tips and tricks that are part of every profitable player’s tactics.
In the next few paragraphs, we will analyze some interesting systems and tactics. You don’t need to have a PhD to catch a winning sports bet, but in order to be successful in the long term, there are some sports betting strategies that you need to follow.
Bankroll Management
As we already mentioned, the lack of proper bankroll management can be devastating. Just like in any other gambling activity (for example video poker), successful players will tell you that the smart distribution of your betting funds is a key ingredient for success. Remember, sports betting is not a sprint, it’s a marathon.
The first rule in gambling is to bet only what you can afford to lose. Decide how much of your monthly budget you’re willing to put aside for sports betting and stick to that number. The next step is to define some rules for how much you’ll stake on any given wager. Making a staking plan and following it is vital. Most long-term punters typically use a variable staking plan or a fixed staking plan.
Variable Staking Plan
For this plan, the amount you wager will vary every time. The most commonly used variable staking plan is the so-called Martingale system. This is a negative progression system meaning that you will increase your bets after a loss, and you’ll decrease your bets after you win. Your base betting amount should be in the range of 1% to 3% of your overall bankroll.
The main idea of the variable Martingale system is to double your bet after each loss. In case of a long losing streak, this method can get quite expensive, that’s why we recommend you start from a very low percentage of your bankroll.
After a win, you return back to your base wager. Be aware that this approach carries the same danger as chasing losses: one long losing streak can wipe out your entire bankroll, which is why many experienced bettors avoid negative progression systems altogether.
Fixed Staking Plan
For this plan, the amount to wager every time will be fixed. It can be either the same number or a percentage of your bankroll. The latter is more commonly used, as if your bankroll grows, you will be able to stake larger amounts. We recommend you keep any wager between 3% and 5% of your current bankroll.
When you follow a fixed staking plan and bet a certain percentage of your current bankroll, the risk of eating up your entire budget is very low. In case of a longer winning streak, your betting amounts can get quite high, allowing you to play for more significant profits.
Winning all the time is impossible. There will be good days, and there will be bad days. The main advantage of managing your money correctly is that it should prevent you from losing money that you can’t afford to lose. This requires discipline, but if you’re committed enough the benefits will be invaluable.
Kelly
The Kelly criterion is a mathematical formula for bet sizing that normally leads to higher wealth compared to any other strategy in the long run. It seeks to maximize the potential return of any particular bet or investment and has become one of the most well-known betting strategies. The formula was developed back in 1956 by the researcher John Kelly Jr. This betting strategy requires from punters the most accurate assessment of a sports event.
Full Kelly
In order to understand how the Kelly criterion works, we assume that you are able to assess the probability of a particular bet being successful with a reasonable degree of accuracy. Having this information, we can then use the Kelly Criterion to calculate the stake, by working out the following formula:
To see the Kelly formula in action, we will give you an example with the odds of a football game. Let’s take the greatest rivalry in the history of English football – Manchester United against Liverpool. Let’s say we want to bet on the final result of the game being a draw. The odds are 3.50 (decimal) and you estimate that the true probability of a draw is 30%. With the usage of the Kelly formula, we can determine how much of our bankroll we should stake on our prediction. [(0.30*3.50)-1] / (3.50-1) = [(0.30*3.50)-1] / 2.50 = [1.05 – 1] / 2.50 = 0.05 / 2.50 = 0.02 Based on the Kelly formula, in this example, we should place 2% of our bankroll on this bet. If your bankroll is $500, then you should bet $10 on the game ending up a draw. As you can see, one effect of the Kelly criterion is that the higher the expected probability of a win is, the greater the level of the stake, thus maximizing the return.
Fractional Kelly
The Kelly formula (Full Kelly) is highly dependent on your estimation of the probability of an outcome. As we all know that in sports, the probability of an outcome is quite an imprecise number, most players use a more cautious strategy and apply the Fractional Kelly formula.
This means that rather than bet the suggested percentage, you use just a fraction of it, most commonly a half (Half Kelly). The formula is the same, except for when you get the final result you multiply it by your chosen fraction:
If we apply a Half Kelly staking strategy to our previous example, the Kelly stake is calculated as: [((0.3 * 3.50) – 1) / (3.50 -1)] * 0.50 = [((0.3 * 3.50) – 1] / 2.50) * 0.50 =[(1.05 – 1) / 2.50] * 0.50 =[0.05 / 2.50] * 0.50 = 0.02 * 0.50 = 0.01 As you can see, by applying the Fractional Kelly example, your stake should be 1% of your bankroll. If your bankroll is $500, then you should bet $5 on the game ending as a draw. Remember that you can apply any fraction that you like. By lowering the fraction, you will minimize the risk and you’ll be able to place more bets.
Stats, Records and Analysis
As we already mentioned earlier in our sports betting guide, doing thorough research on the particular sports event you wish to bet on is essential for making a profit. There is a number of different variables that you should carefully examine.
In the next table, we have reviewed some of the most important factors and conditions that if you have researched thoroughly, the chances for making the right prediction will be much better.
| Sports Betting Variable | Explanation |
|---|---|
| Team / Player Form | Evaluation of the form of a certain team/player can be very helpful in making the right prediction. Teams in form are more likely to continue winning, and teams on a losing streak have bigger chances to continue their bad form. Always research the last four to six games of a team/player and the number of games since last win/loss. |
| Injuries | Very often in team sports, certain players are out of the squads due to injuries. It is very important to know the available players and starting lineups. The lack of a certain player can change the tactics and the performance of the team. |
| Weather Conditions | Many sports are played outdoors, so weather conditions can influence the quality of play and condition of the field. As many sports teams travel a lot to play in different destinations, a change in climate may affect their performance. |
| Rivalries | Some games carry an extra spark if there is a historical rivalry involved. Rivalry games are more unpredictable, and it is harder to determine a strong favorite. |
| Players | In most team sports, there are certain individuals that stand out from the crowd with their skills. They can decide the outcome of the game on their own. Betting on their individual performance can give high returns. |
| Manager and Style of Play | The philosophy of a manager and the style of play of the team should also be considered. Defensive-oriented teams usually concede fewer goals, while attacking-minded strategies lead to higher scores. |
As you can see, there are many factors that you should consider before making a bet. The key to becoming a long-term winner is to learn how to assess the potential outcomes of sports games by carefully analyzing both objective and subjective factors related to each one.
You also need to understand the sport you’re betting on so that after you read some information about the specific game, team or player you will be able to fully comprehend it and be able to draw accurate conclusions.
Tips for Beginners
There are certainly simple and easy to follow strategies and tips that all beginners should know and consider. The path to regular sports betting success is a long one and it’s important for newbies to take it slow and build up their knowledge as they go along.
Forming good habits from the moment you start betting gives you a much better chance for success in the long term. Here, we have outlined some of the most basic tips for beginners.
| 1. | Bet on sports that you like and have certain knowledge about |
| 2. | Start with small wagers |
| 3. | Do your research for a game |
| 4. | Stick to bets that you understand |
| 5. | Don’t make a lot of bets on the same game |
| 6. | Avoid betting on your favorite team |
| 7. | Give yourself some limits and follow a certain betting strategy |
| 8. | Match the size of your bets to your bankroll |
| 9. | Bet only what you can afford to lose |
These simple tips will help you form valuable betting habits. Profitable sports betting requires discipline and following a certain betting strategy. As you’ll get more and more betting experience, you will start to upgrade these basic tips, especially if you have followed them from the beginning.
Bet Responsibly
As sports betting is a kind of gambling, don’t forget that gambling can be highly addictive and can lead to serious problems. Always remember to bet responsibly, wager only what you can afford and enjoy your betting.
The moment you feel betting is no longer fun and you’re stepping over the line, you should stop and seek help. Reputable online sportsbooks work closely with the most popular and helpful responsible gambling associations. US players can also find state-level support resources in our US responsible gambling guide.
How to Choose a Betting Site
The diversity of online bookmakers is enormous, and separating a good betting site from a bad one is not an easy job. It requires research and a careful look at the features and components of the site before you deposit any money.
In the following paragraphs we will dig a little deeper into the features that matter most: bonuses, mobile apps, payment methods, user experience, and customer service. Comparing more than one licensed bookmaker on these points helps you find the site that suits you best.
If your market matters more than the general picture, see our guides to online sports betting in the US and sports betting in the Philippines.
Bookmaker Offers
One of the biggest advantages of playing online is the opportunity to grab wonderful and rewarding welcome bonuses. As the competition between online gambling sites is fierce, every online gambling operator tries to attract new customers with enticing offers and promotions.
More often than not, players get hooked in by the large bonus figures and forget that each bonus carries some specific terms and wagering conditions. You should always read the bonus conditions carefully, before signing up for a bonus offer.
When comparing welcome offers, always check the wagering requirement, the minimum qualifying odds, the minimum deposit, and how long you have to use the bonus. Typically, the bonus conditions in sports betting are quite manageable, especially when we compare them to those at online casinos. For the same reason, the bonuses for sports fans are usually lower than the top casino bonuses, which can offer some impressive amounts, but carry tough wagering requirements.
Most commonly, gambling operators offer separate welcome bonuses for sports betting and casino, but there are some who have just one welcome offer for all products.
Free Bet
There are different bonus offers that you might stumble upon when choosing a new sports betting site. Free bets are quite popular with bookies. This kind of offer gives you a certain amount that you cannot withdraw, and just use to make bets. In case of a successful wager, the winnings are paid straight into your cash balance, minus the initial free bet amount and are not subject to any additional wagering requirements.
Deposit
Match-up deposit bonuses are also very common. In these offers, the bookie matches your first deposit up to a certain amount. The received sum carries some wagering requirements and only after they have been met (during the designated bonus period), you are able to make a withdrawal.
No Deposit
Some operators reward you with a bonus, right after you make a successful registration. No deposit is needed, but the received bonus amount normally carries some hefty wagering requirements and conditions.
Online betting sites design their welcome bonus offers depending on the player base they want to target the most. Low budget players prefer the no deposit or free bets bonuses, while punters who intend to play with big money will be most pleased with match-up deposit bonuses.
Mobile Online Sports Betting Apps
People now spend enormous amounts of time on their mobile devices. The online sports betting industry has invested millions in order to keep up with the times. There are hundreds of mobile betting apps and punters these days definitely prefer placing sports bets through their portable devices, instead of a PC.
But not only the pure existence of such an app is important for a flourishing bookmaker. A good betting app has to be well developed, easy to use, and widely compatible, and present the same betting opportunities as the standard PC version. Most betting apps let you claim the welcome bonus, make deposits, and access the full range of betting markets straight from your phone. Before committing to one, check that the app is free to download, runs smoothly on your device, and offers the same odds and features as the desktop site.
Payment Methods
The available payment methods are another crucial factor that we had in mind when selecting the best sports betting sites. Players need to have a wide choice of possible payment options, so that making transactions is as fast and easy as possible.
Normally, betting sites include the most popular payment methods, such as Visa, MasterCard, Maestro, PayPal, Skrill, Neteller, Paysafecard, bank transfers, ecoPayz, and more.
In recent years, eWallets have gained extreme popularity, especially when it comes to online gambling. EWallets provide secure and very fast transactions and players don’t have to share any bank details with the gambling operator. We certainly give our thumbs up to the usage of eWallets for online sports betting and our undisputed leader is PayPal. Keep in mind that some bookmakers exclude e-wallet deposits from their welcome offers. If you wish to take advantage of a welcome bonus, check the bonus terms before choosing your deposit method. This is a relatively common condition, as most online gambling sites want to have your personal and bank details in order to give you a bonus.
User Experience
Another very important element of an online bookmaker is the user experience. Both the site and the app should be user-friendly and easy to navigate through. If you have to spend more than a few minutes just to figure out how to journey through the different products and features of an online sportsbook, then the site is not good enough.
An intuitive and compelling user experience (UX) improves player engagement and retention. You should be able to easily see all the different types of bets you can make, how to make them, and what other types of gambling products you have access to. When a bookmaker gets UX right, you will be able to orientate yourself through the site pages without any difficulties.
Customer Service
It is absolutely normal for players to have questions and queries. That is why a good online betting site must provide excellent customer service.
Customer support teams should be professional, friendly, and ready to help players 24/7. Look for bookmakers that provide such services, as well as informative FAQ sections, where punters can find answers to the most general topics.
For your convenience, we have also provided a FAQ section at the end of our sports betting guide where our team of experts has answered the most popular and frequently asked questions.
New Betting Sites
Due to the incredible growth of the online sports betting industry, new sports betting sites are popping up left and right these days. It can be quite hard for them to break through and be able to compete with proven online bookmakers that have been operating for years.
Nevertheless, some newcomers manage to carve out a place for themselves with sharper odds and bigger promotions than the established names. Before you open an account at a newly launched betting site, check the essentials: a license from a recognized regulator, clear bonus terms and conditions, a solid range of payment methods, and working responsible gambling tools. A generous welcome offer alone is not a reason to sign up.
Some new operators grow into excellent bookmakers, but until a site has built a track record, it is sensible to start with small deposits and test the withdrawal process before committing a larger bankroll.
Trivia and Stories
Now that we have covered the most popular aspects of the sports betting industry, given you more than enough valuable tips and strategies, and explained how to choose a betting site, let’s go in a slightly different direction. In the navigation menu below, you can see the topics that we’re going to discuss in the next few paragraphs.
History of Betting
Sports betting has been around for centuries. Competitiveness is in human nature, and as long as there have been contests with winners and losers, there have been people trying to predict the outcome. Whether it was supporting the favorite, or taking a chance with the underdog, it has been difficult for spectators to stay impartial.
It is impossible to track back the exact time of the emergence of sports betting. The first official record from betting on athletic competitions is from the Greeks and their legendary Olympic Games. Later, the concept of betting spread to the Romans, who even legalized it and made it a part of their culture. Betting on the outcomes of the popular gladiator games became a tradition. From there on, year after year, people all over the world developed a great fondness for this entertaining activity, and today, the sports betting industry is worth billions.
Other Ways of Betting
Online sports betting is not the only way sports fans can wager on the outcome of a sports event. The term sports betting on its own is actually quite obscure, as it covers a multitude of different activities and it can be applied to any type of wager associated with a sports event.
Shops
You will have a hard time finding a country where sports betting is actually legal, and there are no land-based establishments that are willing to take your wagers. Many of the most recognized sports betting brands have such establishments. You place your bets with real cash and if your predictions turn out to be correct, you have to visit the brick and mortar buildings again, to collect your winnings.
Friends
Who doesn’t like to watch a sports event with friends? A crowd makes a more entertaining and electrifying atmosphere. And as most sports fans support a particular team or player, the more people are gathered together, the bigger the possibility of different opinions and favorites. This makes a perfect opportunity to make a bet and decide who had the most accurate prediction.
Illegal Bookies
Even though there are some countries where sports betting is illegal, this doesn’t mean that sports fans don’t have their opinions and predictions of the outcomes. If there are people willing to bet, there are people willing to take their wagers. Illegal bookies are common in the countries where sports betting is forbidden and those who are willing to take the risk can easily find such organizations.
We know that sports and sports betting go hand in hand, but we certainly don’t recommend placing sports bets if this activity is not legal in your country of residence. You can still enjoy the games to the fullest and instead of risking breaking the law, make friendly wagers with the people surrounding you.
In the next paragraph, we will have a look at some of the biggest countries in the world and review the legal situation.
Where to Legally Bet Online?
In many countries, bookmaking is regulated but not criminalized. In regions and areas where sports betting is illegal, punters usually make their sports wagers online, with betting sites that are located and operating from the territory of other countries. Check out the table below to see some information about sports betting in different countries around the globe.
| Country | Legal Age | Online Sports Betting | Betting in Shops | Taxes on Winnings |
|---|---|---|---|---|
| United Kingdom | 18 | Yes | Yes | No |
| USA | 18/21 (Depending on the State) | Yes (Depending on the State) | Yes (Depending on the State) | Yes |
| Australia | 18 | Yes | Yes | No |
| Canada | 18/19 | Yes | Yes | No |
| Germany | 18 | Yes | Yes | No |
| United Arab Emirates | 21 | Yes (Licensed Operators Only) | No | No |
| Brazil | 18 | Yes | Yes | Yes |
| North Korea | – | No | No | – |
| Mexico | 18 | Yes | Yes | Yes |
| India | – | No | No | Yes |
Online sports betting surely is a lot of fun and can be a very profitable activity, but you must always comply with the gambling laws in the country you live in. Underage and prohibited sports betting is a serious offense.
Bet responsibly and bet smart only if the law allows you to. Otherwise, you might end up turning a pleasurable and entertaining experience into a crime with unpleasant consequences.
Sports Betting and Online Casinos Compared
The two most popular types of gambling without a doubt are sports betting and online casinos. Players often argue about which one is better. Both have their advantages, and it ultimately comes down to personal preference. In the following table, we have listed some of the similarities and differences between these two gambling activities.
| Similarities | Dissimilarities |
|---|---|
| • Both activities demand a certain minimum age to participate | • Sports events do not have as random outcomes as casino games |
| • Both activities available to play on mobile | • Casino games can be played 24/7, while sports bets have certain time schedules depending on the event |
| • Both activities provide real money gambling | • Casino games can be played for fun money too |
| • Both activities require certain strategies to be successful | • Odds at casino games are consistent, while odds on sports events are constantly changing |
| • Both activities require responsible gambling | • Many casino games offer jackpots |
Both industries have certain advantages. Don’t forget that casino games have a certain mathematical advantage over the wagering players, called the house edge. This means that in the long run, the casino will always win more than the player. In sports betting, on the other hand, the odds are set according to the probability of a certain outcome.
Even though bookies also take a certain percentage of your wager (aka the vig), players can ‘beat the bookie’ by making smart knowledge-based predictions.
Bookmakers Associations
There are a number of organizations and institutions that are related to sports betting and exist to regulate, protect and help the industry – taking care of both the bookmakers and the players.
Even though online bookies are in constant competition with each other for more players, they are all united by the same goal – to provide players with the possibility to make sports bets.
In some countries, there are bookmakers associations that seek to raise the status and prestige of bookmaking and protect the rights and interests of the players, the bookies, and the different sports industries (soccer, horseracing, greyhounds, etc.). One such is the National Association of Bookmakers (association of British bookmakers), which is the largest organization of individual bookmakers in the UK.
Sports Betting Movies
The world of sports betting offers millions of nerve-wracking incredible and fascinating stories. That is why this industry has always mesmerized Hollywood filmmakers. There are many sports betting movies and we have taken the time to list some of the best ones out there.
| Movie Title | Director | Year | Amazon Score | Amazon Link |
|---|---|---|---|---|
| Silver Linings Playbook | David O. Russell | 2012 | 4.5/5 | View on Amazon |
| Two for the Money | D.J. Caruso | 2005 | 4.5/5 | View on Amazon |
| Bookies | Mark Illsley | 2003 | 3.8/5 | View on Amazon |
| Hardball | Brian Robbins | 2001 | 4.7/5 | View on Amazon |
| Kingpin | Peter and Bobby Farrelly | 1996 | 4.5/5 | View on Amazon |
| Diggstown | Michael Ritchie | 1992 | 4.7/5 | View on Amazon |
| White Men Can’t Jump | Ron Shelton | 1992 | 4.7/5 | View on Amazon |
| Let it Ride | Joe Pytka | 1989 | 4.8/5 | View on Amazon |
| Eight Men Out | John Sayles | 1988 | 4.6/5 | View on Amazon |
These movies are certainly a must-watch for all sports betting fans. They tell captivating stories about sports and betting, and the main roles are played by some of the most well-known actors and actresses around the world like Woody Harrelson, Wesley Snipes, Keanu Reeves, Bradley Cooper, Bruce Willis, Al Pacino, and more.
So next time you are wondering what movie to watch while you’re popping the popcorn, pick one of these classic sports betting movies.
Final Thoughts
Sports betting rewards patience and record-keeping far more than it rewards instinct. We gave all the information a new sports bettor should have, as we included most of the major topics, divisions, and features of the online sports betting industry. We also explained what to look for when choosing a betting site. The world of online sports betting continues to grow by the day. Players have more and more options on where and what to bet. For many players, sports betting is a fun way to intensify the thrill and excitement of sports. Being a successful punter certainly requires dedication, work, skills, and knowledge.
FAQ
As we mentioned earlier, we decided to include our own FAQ section, containing some of the most commonly asked and interesting questions concerning the online sports betting industry. Our team of professional editors has spent many hours researching these topics so that they can give you the most straightforward and instructive answers.
1. How do I choose an online sportsbook?
Look at the trustworthiness of the site, the variety of betting markets, odds quality, payment methods, bonuses, and usability. A good sportsbook holds a license from a recognized regulator, offers competitive odds, has clear bonus terms, and is committed to responsible gambling.
2. Are there any good bookies calculators?
Betting calculators allow you to calculate the stake and payout for a wide range of bets for both live and pre-game wagers. Free bets calculators are widely available online and normally support the most popular bet types. Some online bookmakers provide such a feature.
3. How does matched betting work?
Matched betting is a technique where a bettor uses welcome bonuses, free bets and other promotions to cover all possible outcomes of a sports event. It requires multiple betting accounts and is also known as 'bonus hunting'. Keep in mind that most bookmakers prohibit matched betting in their terms and conditions, and accounts suspected of it are routinely restricted or closed.
4. What is spread betting?
Spread betting is a derivative strategy, meaning participants only speculate on the direction of a financial market (stocks, forex, commodities), without taking ownership of the underlying asset. Spread bettors make predictions on whether an asset will rise or fall, based on the prices offered to them by a broker. Normally, it is not directly connected with sports.
5. What does Asian handicap betting mean?
Asian handicap is an alternative two-way market, where the better team is 'handicapped' to be the favorite. It is normally available in games where one of the teams is considered a strong favorite. It is most popular in soccer games. This form of betting was started in Asia.
6. What is novelty betting?
Novelty betting involves wagering on events that normally have nothing to do with sports. It includes a variety of non-sport topics such as TV shows (X-Factor, Big Brother etc.), award shows (Eurovision), politics (presidential elections), movies, celebrity gossip and so on. Punters can find novelty betting opportunities at many of the online sports betting sites.
7. How can I bet on virtual sports?
Betting on virtual sports is as easy as betting on real sports events. Virtual sports is a selection of scheduled fixed odds games that use a random number generator to determine the outcome. Such events are normally available all the time and include tons of simulated sports to bet on such as football, horse racing, motor racing, greyhounds and more.
8. What are system bets?
System bets combine multiple sports bets predictions on the same bet slip. The number of possible system bets depends on the number of predicted outcomes. You can win a system bet even if not all your predictions are correct. Some of the most popular system bets are Trixie, Patent, Yankee and Lucky 31.