Even if you have never been particularly sporty, you will probably have noticed that sports betting is a pretty big thing these days. Ever since the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, essentially legalizing sports betting in the US, millions of people have begun to back their favorites online.
If you enjoy online casinos, you may have also noticed that sportsbooks have been keen to boost their customer base by offering a one-stop shop for sports betting and casino gaming. If you read the coolest online sportsbook feedbacks, you will undoubtedly discover what casino games are available, as well as whether the biggest sports events are covered.
Sports betting is fairly new for most people, so learning what all the terms and betting types mean is important. If you are thinking of taking a break from the online casino to give sports betting a go – or just curious about this new cultural phenomenon – here’s our guide to choosing the perfect type of bet for you.
The Cautious Beginner
When you are first presented with the available bets for just about any sports event, you could be forgiven for feeling a little overwhelmed. Sports fans are able to bet on just about everything these days, and every second of a game is covered in some way or another. For a cautious personality – or a beginner – it is important to make the right choice.
The best idea is to go for the moneyline or single bet. This is probably the most straightforward kind of wager you can make, and you will easily know whether you have been successful or not. You are basically just predicting who will win the event (or if it will end in a tie in some cases). This is as basic as it gets, and just about everyone can handle this one.
The Long-Time Planner
If you like to take your time and plan out activities, you may want to look at a more long-term version of the moneyline or single bet. The futures or outrights markets are for backing an athlete or team to win their championship or league. Obviously, you will have to be prepared to wait a while until you find out if you have been successful or not.
With these futures bets, you will usually get better prices the earlier you place your bet in the season. You can still make a wager near the end, but the more obvious the outcome is, the less value you will find. The beauty of these bets is that, if you are successful, the payout can be a reminder that you placed the wager months ago.
The Strategist
Once you have a little more experience with sports betting, you may feel that you want to test yourself a little more than simply picking the winner of a one-off game. This is especially true if you have a more analytical mind and a personality that is attracted to strategy. If this sounds like you, you will have a whole host of betting types to choose from.
Sports fans love stats, but they can be used to help inform your betting too. Look for trends and patterns in scores and results, and you can put that knowledge into your wager. Betting exchange sites are particularly good here, as you bet on an event to happen or not, or you can just use the information you have to plan betting strategies over a longer period of time.
The Sports Fan
We would advise anyone thinking of placing a bet to know at least a little about the game or event in question. But if you are already a big sports fan, you now have the potential to put your knowledge to the test. Sports games are debated for hours by those in the know, but you can now prove that you know the most among your friends.
If you have that kind of confidence, you may want to try live betting. Sometimes referred to as “in-play”, this is where you place bets on an event as it is happening. You will need to be on your game here, as the prices change quickly, and your bets will be a reaction to what is happening on the field of play.
The Thrill-Seeker
Betting responsibly should be everyone’s overriding strategy. But there will be thrill-seekers among you wanting to place bets on a number of different events. The perfect bet here is the parlay. The attraction of parlay bets is that you do not have to place a big wager for the chance of winning a big payout. The caveat is that you are far less likely to actually win.
A parlay bet involves you predicting a number of outcomes to a selection of events, with winnings being paid out only if every single one of them comes through for you. The odds of multiple predictions all coming true are long, so the reward will be enticing. Just don’t expect to win big most of the time.
Know Your Sports
You may have already been introduced to sports betting thanks to the wide range of prop bets available for big events, such as how long the national anthem will be at the Super Bowl. Obviously, this type of bet is just a bit of fun and should be treated as such. But if you are thinking about trying sports betting, you should always do your homework first.
Research is key, as there are so many betting options for each event. Concentrate on the sports you know and follow, so you already have a grounding in what is going on. You can then study the stats and scores to further inform your betting. There are so many opportunities to bet on sports these days, but you should always know your limits and bet on what you know.
