Everyone loves to predict the future and be correct! That’s probably why sports wagering can be so exciting. Some make a living either betting or consulting in the sports betting industry. But some of us are just beginning to understand this form of gambling, myself included. This is why we have researched sports betting from a newbie’s point of view. Let’s look into our Beginner’s Guide To Sports Betting and how it will pertain to New England.
The Recreational Gambler’s Guide to Sports Betting
Sports betting takes a long time of understanding to master and practice. So, for the recreational gambler, it essentially includes two factors:
- Intuition and luck are excellent rewards in sports betting as in other types of gambling, but if you depend exclusively on them, you are doomed to get rid of plenty of income.
- Restrain your anticipations and consider having fun.
The knowledgeable bettor has better odds of experiencing profitable sporting wagers than the lucky gambler who places a bet following wishful consideration. Remember, the best gambler is a knowledgeable gambler. To find out everything you can about the odds, the variety of sports activities, and the teams or players who consider essential in the game you are betting. According to this Beginner’s Guide To Sports Betting, all the data you seek is accessible on the internet with a mouse click length, so there is no explanation for being lazy about it.
Beginner’s Guide To Sports Betting Asks, “Is Sports Betting For You?”
If you want extra money and don’t care about the experience, follow oddsmakers and professional services to help you. But, If you’re in it because you want to engage yourself in a fun and exciting new hobby, then you’re going to bet much differently.
There are pros and cons to each. Those in it for the excitement will sometimes lose more than they can afford, whereas those who do not engage in the process will make a bit of money but will not necessarily enjoy it. It doesn’t hurt to aim somewhere in the middle if you can. You want to be engaged, but don’t allow yourself to mismanage your bankroll. This Beginner’s Guide To Sports Betting suggests you don’t let a fun hobby waste because you were either too excited to get involved or too impartial to benefit from the joy of winning.
Above, from top-right, clockwise – Foxwoods DraftKings, New Hampshire Sportsbook, Encore SportsBook (no approved betting), MGM Springfield SportsBook (no approved betting), Mohegan Sun Temporary FanDuel, Bally’s twin Rive SportsBook.
What Can You Bet On?
If a sport exists, you can be sure if there’s a game somewhere, you can bet on it. Here are some of the major categories:
- Betting on a team or player to win a championship
- Wager on a team or player to win a game
- Betting on a team to score a certain amount of points
- Wager on a particular player to score or accumulate a good day’s stats
- Betting on the specific score of a game.
How Do I Place My Wagers?
Here’s a quick breakdown of how to place a bet on sports:
Choose a betting site:
First, you need to find a sports betting site to use. For example, in New England, the betting sites that will be available at the state casinos and on mobile in-state apps look like this:
- Rhode Island – The Rhode Island Lottery will regulate and oversee the industry. Sports betting in Rhode Island is possible through SportsBook Rhode Island, which provides online, mobile betting, and on-site betting at Twin River Casino Hotel in Lincoln and Tiverton.
- Connecticut – SugarHouse will provide an online sports betting platform in the state in partnership with the Lottery; FanDuel is a partner with Mohegan Sun, and DraftKings is partnered with Foxwoods Resort Casino.
- New Hampshire – The state launched mobile NH sports betting via the DraftKings Sportsbook app in early 2020.
- Massachusetts – No Sports Betting yet! But if approved later this year, MGM Springfield – will be using their BetMGM; Wynn will also use their WynnBET, and Plainridge Park will be connected to Penn National’s partner Barstool Sports.
Related Post – Comparing Rhode Island and New Hampshire Sports Betting
You can’t just jump into sports betting without signing up. Signing up could run differently, and may include signup bonuses, depending on many factors. Already have an account? Check your status as new or already a member to be sure it works for that state.
Locate the market:
Before you place your first bet, look at the sports and find the one you want. Then click on the specific league. Then find the team you want to bet on and look at the available odds and markets.
Enter your stake:
Your stake is the amount you want to bet. Once you’ve selected your bet, you’ll need to enter your stake. Happy with the odds? Time to place your bet, in person or online, then wait for the results. So sit back, relax and watch your bet come in.
Now, let’s get more in-depth concerning preparing your bet.
The Fundamentals of the Sports Betting Process
Reading The Lines At Sportsbooks
Have you ever looked at sports betting odds, become confused, and clicked away from the site altogether? Don’t worry – that’s why we provide a beginners’ guide to sports betting!
The first thing to note is that there are different types of odds. For many bettors, this cannot be very clear. The sport itself determines the most critical lines. For instance, in baseball and hockey, most sports betting is done by the money lines. In basketball and football, most bets usually pertain to the point spreads. There are also numbers known as the over/under or O/U, which more casual bettors will generally refer to as totals.
Lines may seem counterintuitive to many beginners, mainly because positive numbers indicate which team is expected to lose, whereas negative numbers signify that the sportsbook favors the team in question. So if the Texas Rangers are given a money line of +120 in a game with the Miami Marlins listed at -130, then the Marlins are favored while the Rangers are considered an underdog.
Beginner’s Guide To Sports Betting – What The Numbers Mean
Now that you understand what the plus and minus signs represent, it’s time to talk about the meat of the issue: what the numbers mean. To understand this, think of everything in terms of $100. If you’re betting on the Marlins in the example above, you’d have to put up $130 to win an extra $100. However, if you’re betting on the underdog in the example above, you’d have to potentially lay down $100 to make an additional $120. That isn’t to say that you’re required to bet that much, but this gives you an idea regarding the ratios. So if you bet $40 on the Rangers, you could potentially make back $48.
Unfortunately, to get deeper into reading the lines, with converting lines, implied win rates, and no-juice lines ( I don’t even know what that means), you’ll have to wait for our next post covering those details.
Finally (For Now), Choosing the Right Sportsbook
I mentioned briefly picking the right sportsbook. However, many issues are at play when deciding the best sportsbook.
You need to familiarize yourself with more than one book. Then you’ll be able to maximize your profits while minimizing your losses. It will also mean you can take advantage of signup bonuses. Most online sportsbooks offer various bonuses for signing up with them. Therefore, you want to do your research when looking at sportsbooks to ensure that you get the best bonuses possible.
I hope you enjoyed our Beginner’s Guide To Sports Betting. We hope to expand on it. The news revolving around sports betting is about to shift at high speed.
Binbin – potential sports bettor