Whether you enjoy the entertaining aspect of betting or you like the prospect of making money on your favorite sport, we can all agree that there’s more to online betting than being a fan. Let’s face it! Having fun with betting is easier than making money. That’s why most punters at Betway and other leading operators are recreational bettors.
For those whose sole intention is to make a profit, you must have a proper strategy and learn a few basic concepts to boost the odds of you winning. Like many professional gamblers, you could make good money from sports betting, while others make a decent amount of cash on the side. Some may not meet their goals but remain determined to keep trying.
This guide has something for every punter whose interest is not only to make money but also have fun.
Sports Betting Basics: Types of Wagers
There’s no doubt that sports betting commands the biggest number of punters worldwide. Here are different ways you can wager on games.
- Straight bets
If you’re a sports betting fan, then you must be familiar with this basic sports bet. It’s the most common wager in sports especially in football, basketball and rugby. The betting line, also known as a point spread, is set and the punter can either back the favorite or bet on the underdog. At the Betway online sports betting site, you can also wager on a draw.
While Over-Unders and totals are completely different terms, they’re used for the same wager. The two terms are used interchangeably in different parts of the world, but this bet is very popular. The bet involves predicting whether the total number of goals in a game will go over or under a set number.
- In-play Bets
These bets occur when the game is going on, and you can wager on different markets. However, the odds change fast in most sports, making it hard to be successful unless you’re fast in placing the wagers. Nonetheless, some people have found success with this type of bet.
Sports Betting Tips
- Choose the bookmaker with high odds
The higher the odds, the more the profits since odds determine the amount you get when multiplied by your stake. For instance, if you stake $100 on 2.34 odds, then your possible win will be $100 x 2.34 = $234. That’s why its wise to choose a bookmaker that offers the best odds on your favorite sports.
- Learn to bet on the value
As a punter, you’ve always wanted to place wagers like a pro, don’t you? Well, betting where there’s value will help you to do that. However, you need to understand the concept of value before you can start to place wagers.
A value bet is present where the probability of an outcome occurring is bigger than what the odds given by the bookies reflect. That means value betting involves placing wagers that have a greater chance of winning than what the bookies are implying.
- Research every match independently
If you’re placing bets to win and not for fun, you’ll need all the information you can get on a game. That means not only looking at the team’s head-to-head performance but also whether any key players are suspended or marked out due to an injury.