Tutorials – Sports Betting Tutorials [2023]
How is a betting margin determined? What errors do bookies frequently make, and how can you profit from them? What are the gambler’s fallacy and the aureola effect? Which staking strategy should I use? How much does the home-field advantage and how many corners are awarded in a football game effect the final score? How should I interpret Asian handicaps? When is the ideal moment to place a wager and which payment method should I choose? You would be mistaken if you assumed that those were only the names of several betting forums. In our sports betting guide section at onehundredgamblers.com, you can find these plus a tonne of additional tutorials and instructions relating to betting.
You will discover a wealth of important information in our database, we can guarantee that. That does not, however, prevent us from continuing to advance. Every day, we work hard to reveal to you new insider information on the sports betting market. We hope that you will improve your betting skills thanks to our efforts.
12 Sports Betting Tips for Beginners
1. Tutorials – Underdogs vs. Favorites
The first thing oddsmakers do when they announce a betting line for a game is identify which team should be the favourite and which should be the underdog.
The favourite is the team with the best chance of winning the game, and its odds are denoted by a negative sign. The underdog is anticipated to lose and is marked with a plus symbol.
2. Tutorials – Spreads
There are two primary methods for betting on a favourite or an underdog. The first is a bet on the margin of victory, known as the point spread.
3. Tutorials – Moneylines
The second way to bet on a favorite or an underdog is on the moneyline. A moneyline bet requires you to just pick the winner of the game, and uses American odds to calculate the payout.
American odds are centered around winning $100. So if you’re betting a -200 favorite, you need to risk $200 to win $100, or any fraction of that — $20 to win $10, $2 to win $1, etc.
If you’re betting a +200 underdog, you will win 2x your money for every dollar wagered — $100 to win $200, $10 to win $20, $1 to win $2, etc.
4. Tutorials – Over/Under bets (Totals)
In addition to the favourite and underdog lines, oddsmakers will set a total amount of points scored in a game by both teams combined. This is referred to as the total or over/under.
Bettors can then wager on whether the total will be exceeded or not. You’re not attempting to predict the exact score (though that bet is available, too).
5. Tutorials – What is the -110 number next to my wager?
Many bets will have two numbers — a spread like -4.5 and odds underneath it, like -110.
The spread is the margin of victory required for your team to win.
The -110 odds indicate the cost of betting on that spread.
The spread is -8, so Indy must win by 9 points or more to win your bet.
The “juice” is -110. On that spread, you’d have to bet $110 to win $100, or $11 to win $10.
If you bet $11 to win $10 and the Colts win by 14 points, you would win $10. If the Colts win by three points, you will lose $11.
NFL spreads are often -110 on both teams.
However, in the case of an MLB spread, where the line is typically always -1.5 for the favourite and +1.5 for the underdog, the juice will vary depending on the ability differential between the two teams.
6. Tutorials – How to Make a Bet
So you now understand what each bet entails. So, where do you put them?
Most sportsbooks make it quite simple.
- Navigate to the game and bet type you want to play.
- Select the “bet cell.”
- The wager will appear in your bet slip.
- Enter your wager amount.
- Make a wager
8. Tutorials – How Much Should You Bet?
In the end, you decide how much to bet on a game, but a decent rule of thumb is to risk no more than you can afford to lose. Sports betting is a marathon rather than a sprint. There will be happy and sad days. As a result, we advocate for a flat-betting strategy.
This entails spending the same amount on each game and putting only 1% to 5% of your bankroll at risk per play (the bankroll is the starting amount you have at your disposal to bet with). For example, if you have a $100 bankroll, you should risk no more than $5 per game.
By using a flat-betting strategy, bettors protect themselves from losing their entire bankroll during a bad streak while simultaneously setting themselves up for a good return on investment (ROI) when things are going well.
9. Tutorials – Spreads
A parlay is a sort of wager in which two or more bets are coupled together to form a single bet with a higher payout, but all bets must win.
Instead of spending $10 on each of the three games, you can place a single $10 wager that will pay out more if all three teams win. But if even one of them fails, you lose your $10.
The payouts will vary depending on the number of bets and the value of those bets.
This MLB parlay pays +443 with Mariners +114, Mets -220, and Marlins and Marlins -134.
The same game parlay, pioneered by FanDuel and now provided by almost every sportsbook, is even more popular than traditional multi-game parlays.
This tool allows you to parlay numerous bets from the same game, with each event’s correlation priced in. That implies that if you bet over 51 in the Rams-Bengals game and Matthew Stafford over 2.5 throwing touchdowns, you won’t earn the full parlay payoff because those occurrences are more likely to occur concurrently.
In solo NFL and NBA games, same-game parlays are extremely common.
10. Tutorials – Props
Most individuals no longer believe that betting spreads and totals is sufficient.
Props, or proposition bets, are any wager that is not a traditional point spread, moneyline, or total.
When people discuss about props, they usually mean player props like:
Over or under 5.5 assists for Steph Curry
Over or under 7.5 strikeouts for Max Scherzer
Derrick Henry +500 to score the first touchdown
Props, like point spreads, frequently have a corresponding price.
Scherzer’s strikeout total against the Reds is set at 7.5 in this game. However, according to FanDuel’s lines, he is more likely to go under, therefore betting the under is more expensive than betting the over.
Props are a wonderful place to start if you’re serious about generating money betting sports.
Because they can’t fairly price all of them, US sportsbooks provide hundreds of props on every game, offering a larger attack surface. Even if you aren’t developing your own statistical models, watching individual props and knowing how they are priced can help you get an advantage over the sportsbooks.
11. Tutorials – Go Shopping for the Best Line
Lines can differ depending on the sportsbook because different books cater to different audiences. As a result, one book may have the Cavs at -8, while another has them at -7.5.
You can shop for the best line if you have access to more than one sportsbook. A half-point advantage may not seem like much, but it builds up over time and enhances your chances of winning.
Our live betting pages will automatically display the optimal line for each game.
12. Tutorials – Recognize Your Weaknesses and Strengths
Because this isn’t Monopoly money, you should keep track of your progress. The simplest way to do so is to use our award-winning (and free!) app, which includes fantastic features like live bet cover probability and odds shopping, as well as the opportunity to track all of your bets across practically every sport.
And this is useful since it allows you to understand your strengths and weaknesses when you begin betting. Do you prefer betting on the NFL or the NBA? Do you do well with player props or over/unders? All of this is useful information that can help you optimise your winnings.
