If you’re interested in getting into the world of sports betting but don’t have the faintest idea of how to wager for or against certain teams or athletes, then you’ve come to the right place. In this article, we are going to cover some of the fundamentals that you need to know to begin your sports betting journey. The truth is that the sports betting industry is gaining a lot of traction these days. This is consistent with the upward tick in the online gambling industry. Day by day, many people are flocking to their favorite and best Australian online casino in order to partake in whatever game they fancy.
But sports betting is an entirely different ballgame that still falls within the larger gambling industry as a whole. With sports betting, there’s a greater degree of strategy and analysis involved in placing bets. That’s why it can get a little more complicated as opposed to learning the rules and basics of online slots. But the added complexity of sports betting also adds to the fun factor and overall experience.
Favorites vs Underdogs
The first idea that you need to orient yourself with is the concept of favorites versus underdogs. Whenever there’s a game, oddsmakers will release a betting line by first indicating which team or athlete is the favorite and which one is the underdog. Favorites are teams that are expected to win and will often get a minus sign next to its odds. Conversely, underdogs will get a plus sign next to their odds and are likely expected to lose. If the game or match is relatively even, then it’s a toss-up that will be marked in the books as a “pick.”
Spreads
The first and most basic way to bet on either a favorite or an underdog is through the point spread. A point spread is essentially a predicted margin of victory. For example, if the favorite team has odds of -8, that means that they should win by at least 9 points in order for those who bet on the favorites to win. Even though the favorite wins the game, if it’s by just 8 points or less, then those who bet on the favorites lose that bet.
Moneylines
Another way to bet on either the favorite or underdog is through the moneyline. Essentially, it’s a simpler way of betting on the game because it’s only reliant on which team actually wins, regardless of the deficit in the score. Favorites are given “minus” designations. For example, if a favorite has a designation of -200, then that means you have to bet $200 in order to win $100. If the team loses, then you lose the entire $200.
Underdogs are given a plus designation. And since they’re expected to lose, there are higher rewards for those who bet on them. Betting on an underdog that’s +200 with $100 means that you could potentially win $200. Moneylines are typically available for all sports, but they are most popular among sports with lower scores like hockey and soccer.
Over/Unders (Totals)
The final kind of betting that we will be talking about here has to do with a combined effort between both competing teams. Aside from the favorites and underdogs designations, oddsmakers will also come out with a total number of points that are scored in a game. Then, betters can choose to bet whether the score will be over or under the actual final score. For example, if oddsmakers say that an NBA game between the Nets and the Pacers might have a total of 215 points, you can choose to bet either over or under. If you bet 214 or lower, then you’ve betted for the under. If you bet 216 or higher, then you’ve bet for the over.
