Many Americans are getting into betting sports with it becoming legal in more and more states. Still, it is not legal on a federal level, and there are many states where it is not legal. 38 states (plus Washington, D.C., and Puerto Rico) have legal sports betting, while other states have daily fantasy apps and social sportsbooks that allow users to gamble on sports.
The federal government lifted a federal ban on sports betting back in 2018, with sports betting becoming more and more popular online on offshore sportsbooks, forcing the government’s hand to play a role and make money by collecting taxes.
With betting on sports online becoming more and more mainstream, it is important to understand the do’s and don’ts of sports betting and make sure you are educated enough on the topic before risking hard-earned money.
Bet Like a Pro
Before you bet on sports online, it’s important to have a strategy going in. It all starts with figuring out a bankroll and managing it. Stick to your unit size, which is correlated to your bankroll size. The most common unit measurement is 1% of your overall bankroll, meaning a one-unit bet with a $1,000 bankroll would be $10.
Maintaining proper unit management is key to becoming a successful sports bettor, as it helps you avoid many mistakes newer and less-disciplined bettors make, like chasing and overbetting.
Chasing is when you make a larger bet than usual after you lose to try and win back the money you lost. Overbetting is simply when you bet more than you should according to your bankroll size.
Bankroll management is key, as many novice bettors will deposit a few hundred dollars and start betting a hundred or even more at a time, risking half or more of their overall bankroll on one bet. Stick to your units, and try to stay under five units, or 5% of your bankroll, on a single bet.
The next way to bet like a pro is to take advantage of bonuses and promotions. Before you bet online, make sure to check out the promotions and bonuses available on sites, as almost every sportsbook offers welcome promotions and rewards programs for free bets and bonuses that can maximize and help increase your bankroll.
BetUS provides a 125% bonus on your first three deposits, helping you get started with a larger bankroll to bet online BetUS. Once you have established a bankroll and deposited with a promotion, you are ready to check odds and start betting.
How to Make a Sports Bet
The world of sports betting has exploded over the last ten years, making it available to bet on a game in just about any way you want to. It’s key to understand the types of bets to know what you are betting on first.
Moneyline
Moneylines are the most common way to sports bet. A moneyline bet is a pick on who will win the game outright, with no points or anything in the mix. It’s the simplest bet you can make, which is what makes it popular. Just pick who will win!
If you bet $100 on a moneyline at -110 odds, the bet will return $190.91 if it wins. A $100 bet at +110 odds would return $210.
Point Spreads
Point spreads can be a better option for people looking to bet on a game between two unevenly matched teams. Point spreads give the team predicted to lose extra points to try and “cover” the spread, even if they lose outright. The team predicted to win lays the same amount of points and the spread is taken from their margin of victory to determine the bet.
If the best team in the NFL is playing the worst, they may have a spread of 14 points, meaning the favorite has to win by more than 14 points if you bet their spread, while a bet on the underdog means they have to lose by less than 14 or win outright to win the bet. Spread bets are popular because it is a way to even games and keep the odds closer to even. Spreads are typically priced at -110, or close to it, while moneylines can get juicy quickly when dealing with two uneven teams.
Total
Totals are bets on the total amount of points scored in the game. There are normal totals, which is the combined points of both teams, and there are team totals, which is a bet on a specific team’s amount of points in the game.
Those are the three kinds of straight bets, but then there are parlays.
Parlay
Parlays combine bets into one, increasing the odds significantly, but also the risk. Parlays are the riskiest kinds of bets, as they are contingent on every team in the parlay winning, with one loss making the whole bet a loss. Parlays have become extremely popular over recent years, but they are statistically one of the worst bets you can make, as the odds favor the sportsbook more than a straight bet.
Player Props
For those who have a certain inclination on a specific player’s performance in a game, a player prop is perfect for you. Player props are a bet on a specific player and their performance in the game. This can vary for each sport, but you can typically bet over or under on anything that shows up in the stat sheet and is a measured statistic.
Futures
Future bets are a longer type of bet, typically a bet on a team’s season-long performance. The most common futures bets are on a specific team to win a championship, but future bets on a
How to Make a Sports Bet on BetUS
Now that you understand bankroll management and the kinds of bets, it’s time to make a bet. To make a bet, simply click on the box of the bet you want to make (whether its the over, under, or a certain team or player), and it will be added to your bet slip.
From there, select if you want to make a straight bet, or select one of the other options in the bet slip. Once the kind of bet is selected, you can either enter an amount to risk or the amount to win. Once you have selected the bet and entered the amount, click “place my bets” and a virtual ticket will be created, confirming your bet(s). I typically take a picture or screenshot to track my bets more easily, but pending and settled wagers can be viewed under the “My Account” tab as well.
Have Fun!
Remember to remain responsible when sports betting, whether you are new or a seasoned sports betting veteran who is considered more professional. Unit size, self-control, and bankroll management are all key. Remember to have fun, as that is the main goal of sports betting, on top of trying to make some extra cash, of course.