Guide to Sports Betting for Beginners

Sports Betting for Beginners: The Basics

There are plenty of sports betting guides out there, but very few start with the fundamentals. We’re here to change that. If you’re looking for a guide that focuses solely on betting on sports for beginners, you’ve come to the right place. 

Before you even start thinking about placing your first wager, you need to be aware of the basics. Once the foundations are set, you’ll be able to bet with conviction. Let’s look at how to read sports bets, the different types of wagers, and the different ways to bet on sport. 

How to Read Sports Bets 

All the best online sports betting sites have a traditional way of displaying wagers and odds. Whether you’re betting on an NFL game or a Premier League soccer match, you’ll find odds for both teams, representing their chances of winning. 

Here’s an example of one of the most basic wagers in sports betting – the moneyline: 

• Kansas City Chiefs (-150) 
• Baltimore Ravens (+125) 

In this instance, the Kansas City Chiefs and the Baltimore Ravens are facing each other in the NFL. The Chiefs are priced at -150 to win the game, while the Ravens priced at +125. The negative odds make Kansas City the favorite, while the positive odds make Baltimore the underdog. 

These odds are based on a $100 wager. The positive number (+125) shows how much profit you would make on a $100 bet ($125). On the other hand, the negative number (-150) shows how much you would need to wager in order to make a $100 profit ($150). 

Types of Sports Bets

There are dozens of different sports bets to choose from. However, beginners don’t need to worry about the vast majority of obscure wagers. If you’re just getting started, we recommend sticking with the easiest and most popular bets before branching out. 

• Moneyline – It doesn’t get any simpler than this! All you need to do is predict which team or player will win a game or event. 

• Point Spread – Sportsbooks use point spreads to make contests more even from a betting perspective. The favorite is given a virtual deficit, while the underdog is handed a virtual head start. Essentially, you’re wagering on the margin of victory. 

• Parlay – A parlay bet combines multiple selections into one wager, meaning all selections must win for the bet to be successful. While parlays offer higher potential payouts, they come with added risk. 

• Over/Under – Sportsbooks set a points total, giving you the chance to predict whether the combined score of both teams in a game will be over or under that number. 

• Prop – A prop (proposition) bet is a type of side wager that doesn’t relate to the final outcome of a game or event. For example, you could predict how many points a player will score in an NBA game. 

• Futures – As the name suggests, a futures bet is a long-term wager on an outcome that will be determined in the future. For example, you could back an MLB team to win the World Series before the season gets underway. 

• If and Reverse – An if bet links two wagers together, meaning the second bet will only come into effect if the first bet wins. On the other hand, a reverse bet involves backing both possible outcomes, doubling the wager to cover both outcomes.

Ways to Bet on Sports 

Now that you’re familiar with the common types of sports bets, it’s time to discuss the different ways you can wager on sport. Most of the bets in the previous section can be used to wager like this: 

How to Assess Risk 

A large part of learning how to bet on sports for beginners is about risk assessment. If you can learn how to look at a list of wagers and decide which ones are best to steer clear of, you will only increase your chances of winning money. 

It’s important to remember that bets such as parlays are far riskier than single moneyline wagers. For a moneyline bet to be successful, you only need one team or player to win. By contrast, for a parlay to be successful, you need to rely on multiple selections winning. 

Ultimately, familiarizing yourself with the different types of sports bets will help you differentiate between riskier and more favorable wagers.

Getting Started with Your First Wager

In this section of our guide to sports betting for beginners, we want to show you exactly what it takes to place a wager. If you’ve never placed a sports bet before – don’t worry! Our step-by-step guide walks you through each part of the process. 

1

Choose a Sport to Bet On 

The first thing you need to do is choose a sport, league, or event to wager on. For beginners, we recommend choosing a sport that you’re familiar with. The more you know about a sport and its players, the more likely you are to make informed and successful predictions.

2

Pick a Wager 

Once you’ve settled on a sport, it’s time to select your wager. As we already mentioned, there are many types of wagers to choose from. We advise first-time bettors to opt for straightforward wagers like moneylines, as these bets are typically the easiest to understand and predict.

3

Decide How Much to Bet 

Your first bet is almost ready! But before you confirm your selection, you need to decide how much money you want to wager. We recommend starting with a small stake. Make sure the potential payout offers decent value, but only gamble what you can afford to lose.

4

Place Wager 

You’ve chosen a sport, selected a wager, and entered your stake. Now, all that’s left to do is lock in your bet. Check all the details of your wager and click the ‘Place Bet’ button to confirm.

Best Sportsbooks for Beginners 

Our comprehensive reviews of online gambling sites enable us to find the best sportsbooks for beginners. All our top-rated betting sites are great for newbies, but the following recommendations go above and beyond to help beginners. 

BetUS

BetUS has been helping novice bettors since 1994, meaning they boast three decades of experience in the industry. Their easy-to-use sportsbook covers a wide range of sports, leagues, and events. BetUS also has tons of bonuses and promotions for both new and existing customers. 

Read our BetUS review

Bovada

Newcomers can start betting at Bovada with a minimum deposit of just $5, and you can withdraw as little as $10 from your account. Better still, Bovada has one of the most beginner-friendly sign-up offers in the industry, as their 50% Sports Welcome Bonus has a super-low 5x wagering requirement. 

Read our Bovada review

BetOnline

BetOnline boasts an unrivaled range of banking options. New customers can deposit funds via Visa, Mastercard, AMEX, wire transfer, and 18 different cryptocurrencies. They also offer generous promotions and contests across a variety of sports, in addition to first-rate customer service. 

Read our BetOnline review

General Sports Betting Tips

It’s time for us to share our favorite beginner tips for sports betting. It feels like the internet is awash with sports betting tips these days, but a lot of the advice you find online doesn’t come with any credibility. 

With that in mind, we have compiled a list of five general sports betting tips that will help any novice find their feet. 

Set a Budget and Start with Small Wagers 

It’s important to set a budget before you begin your sports betting journey. Put a certain amount of money aside for your wagers, and never gamble more than you can afford to lose. 

Similarly, starting with small bets will help you avoid financial problems, minimizing the risk of big losses. Begin by placing sensible wagers on your favorite sports. This will help you develop your strategy without having to worry about breaking the bank. 

Shop Around to Find the Best Odds 

You’ve found the bet you want to place, but are you sure you’re getting the best odds possible? Different sportsbooks offer different odds for the same events, so it’s vital that you shop around to find the best prices for your wagers. 

Even the smallest odds variance can make a big difference to your profits over time. If you make a habit of checking multiple sportsbooks every time you want to bet, you will reap the rewards in the long run. 

Do Your Research and Make Educated Bets 

Don’t just look at the bookies’ odds and back the favorite every time. Instead, carry out your own research on each team or player and make an educated prediction based on your analysis. 

Studying the numbers behind a sports matchup can significantly enhance your chances of landing winning bets. By gathering information like stats, trends, and form, you can find value and reduce the element of luck. 

Avoid Betting on Your Favorite Team 

We all have our favorite sports teams, right? While wagering on the team you support may seem like a good idea, it can often lead to biased betting. This is why it’s important to bet with your head and not with your heart. 

Of course, you will know more about your favorite team than others. But this doesn’t always mean that you’ll have the upper hand over the bookies. Therefore, we suggest removing any emotional attachment when it comes to betting in sport. 

Keep a Record of Your Wins and Losses 

Keeping records of your bets will help you track your results over time. By monitoring your wins and losses, you can manage your bankroll effectively, keeping you disciplined throughout your sports betting journey. 

Tracking your wagers can also provide you with insights into your betting patterns, identifying strengths and weaknesses in your strategy. This will allow you to develop more profitable and sustainable strategies.

Responsible Gambling 

Our sports betting guide for beginners would not be complete without highlighting the dangers of gambling addiction. Betting on sport is supposed to be an enjoyable pastime, but for some people, it can become more than a hobby. 

If you think you might be addicted to betting, or you have a friend or family member who’s a problem gambler, we urge you to make use of the following resources. 

• National Problem Gambling Helpline 
• SAMHSA’s National Helpline 
• Gamblers Anonymous

Sports Betting for Beginners Summary 

We hope that you found our guide to sports betting for beginners useful. Now that you’re familiar with the fundamentals, you can use our tips for sports betting to support your wagers. 

Whether you’re betting at land-based sportsbooks, commercial betting sites, or offshore sportsbooks in the US, be sure to keep our sports betting tips in mind. Good luck! We’re rooting for you!