How to Start Sports Betting: A Beginner's Guide
by George Monroy - 7/25/2013
So you want to start sports betting but you don’t know how? If the thought of placing a little action on a game and raising the stakes is intriguing to you, then understanding how to get into sports betting is the next step. Contrary to what most people believe, wagering on sports is not a back-alley activity that involves bookies connected to the mob and interacting with unsavory individuals. The truth of the matter is that sports betting is an activity that can be done from the comfort of your own home. Unlike what the movies would have you believe, there is no need to meet up with your bookie in a dark alley after midnight.
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If you are new to the industry and would like to get into sports betting, the process is easier than you might think. Here is a quick look at how to start sports betting with four simple tips on where to begin.
Choosing a Sportsbook
If you want to start sports betting then you need somewhere to make your bets in the first place. And, unless you live in Las Vegas, the best way to place a wager is by using an online sportsbook (always check your local laws involving online betting before funding an account). The online sports betting industry has experienced massive growth over the last 10 years, and, as a result, there are a plethora of sportsbooks to choose from. Just remember to do your homework before picking one and be sure that you are completely comfortable using their services.
Each online sportsbook offers various types of bets and services, and it would be wise to look around for one that fits your needs. Some sportsbooks offer lowered vig (the price you pay on your bets), and others offer in-game betting while others have an extensive menu of teasers to choose from.
Starting a bankroll
If you are planning to bet on sports with any sort of seriousness then it is imperative that you separate your betting money and normal money by starting a bankroll. By keeping the money separated,a bettor can keep track of whether they are winning or losing as well as the ability to bet without having to worry about the financial ramifications. Betting with money that you need for your daily life might not be the smartest idea, and keeping things separate can help guard against gambling irresponsibly.
Understanding the odds
If you are new to sports betting, the odds and general vocabulary can sound like a foreign language. Vigs, spreads, moneylines, dogs and expected value can all be confusing and daunting terms to understand. However, before you start going crazy and betting every game on NFL Sunday, it might be wise to learn the odds and understand exactly what you are betting. There is a big difference between wagering on a -115 vig than on a -105 vig or between betting on a three-team parlay as opposed to a three-team teaser. The main point is to do your homework, take the time to understand sports betting and maybe even invest in a professional handicapping service.
Picking a sport
The best way to be a profitable sports bettor is to pick a sport and master if before moving on to another one. If you just jump right in and start betting the NBA, WNBA, and NFL football without knowing what you are doing, it is a sure-fire way to lose a lot of money. Every sport has its individual nuances, profitable betting situations, and solid ATS teams, and it takes a while to learn those things.
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