What is Sports Betting?
Sports betting is the act of placing a wager on the outcome of a sporting event. When you place a bet, you're essentially predicting what will happen in a game, match, or race, and risking money based on that prediction.
If your prediction is correct, you win money based on the odds offered by the sportsbook. If you're wrong, you lose your stake. It's that simple at its core, but there's a lot of nuance to becoming a successful sports bettor.
Understanding Odds
Odds tell you two important things: the probability of an outcome occurring and how much you'll win if your bet is successful.
**American Odds** are the most common format in the US. Negative odds (like -150) show how much you need to bet to win $100. Positive odds (like +200) show how much you'll win on a $100 bet.
**Decimal Odds** (like 2.50) simply multiply your stake by the number. A $100 bet at 2.50 returns $250 total ($150 profit + $100 stake).
**Fractional Odds** (like 3/1) show profit relative to stake. 3/1 means you win $3 for every $1 bet.
Types of Bets
**Moneyline**: The simplest bet - just pick the winner. No point spread involved.
**Point Spread**: The favorite must win by more than the spread, or the underdog must lose by less than the spread (or win outright).
**Totals (Over/Under)**: Bet on whether the combined score will be over or under a set number.
**Parlays**: Combine multiple bets into one. All selections must win for the parlay to pay out, but the potential payout is much higher.
**Props**: Bet on specific occurrences within a game, like "Will Player X score a touchdown?" or "How many points will Player Y score?"
Getting Started
1. **Choose a reputable sportsbook** - Look for licensed operators with good reviews. Our top recommendations include DraftKings, FanDuel, and BetMGM.
2. **Start small** - Never bet more than you can afford to lose. Start with small stakes while you learn.
3. **Focus on sports you know** - You'll have better insight into sports you follow closely.
4. **Shop for the best lines** - Different sportsbooks offer different odds. Having accounts at multiple books lets you always get the best value.
5. **Keep records** - Track all your bets to understand what's working and what isn't.