Sports Betting Terms Every Beginner Needs to Know
Sports betting is one of the activities that gathered massive popularity among people. There are many reasons why people decide on that activity. Logically, the first reason is entertainment. Advanced technology has changed the habits and mentalities of people. They would rather decide to spend their time inside the house. Of course, options like watching your favorite TV show or listening to music are also available. However, neither of these options will bring you some additional income. That is something that makes sports betting different from other activities.
We know that some people will disagree with our statement. The sports betting industry has a bad reputation among people. However, with a good plan and willingness to improve betting skills, everything is possible. Indeed, becoming a millionaire over the night thanks to sports betting is impossible. Because of that, we recommend to all the beginners to stay on the ground and remain objective.
Making the first steps is going to be the most challenging part. People often do not start in the right way, and that is the reason why they end up their journey soon. First of all, prepare a plan for your budget and calculate how much money you can afford to spend. After you do that, start with the knowledge improvement process. The first thing you should do is to get familiar with sports betting terms. Fortunately, you came to the right place to learn a few sports betting terms every beginner needs to know. We will highlight the most relevant ones, and make your journey easier in that way.
Decimal and American Odds
Many people do not know that odds are different in America and Europe. When we talk about American Moneyline odds, they are shown as – and + number. Let’s use an example to make things clear. Let’s imagine that you want to place a bet on Yankees +300. In that case, the American odd would be, for instance, 3/1. If you place a bet of $50, you can potentially earn $150. More precisely, you will make a profit of $100.
Things with decimal odd are a bit different than that. As we said, they are more characteristical for European as well as some Asian sportsbooks. Let’s imagine that you want to bet on Liverpool’s win against West Ham. The odd, in that case, would be around 1.7. If you invest $50, that means you would earn 50 x 1.7 = 85. In other words, if reds win, you will earn $35. We believe both types of odds are easy to understand.
Online and offline sportsbooks are not the only places where you can gamble. Betting exchanges are becoming popular in all parts of the globe. People that actively visit them do not bet against sportsbooks. On the contrary, they are betting against each other. Of course, the way how these exchanges make a profit is simple. They will take a small percentage of the winning wager. That is probably the best alternative you can find to betting at sportsbooks.
Double chance is a betting option you won’t manage to find everywhere. It is only characteristical for European sportsbooks. However, you will only get the chance to use it if you are betting on soccer/football games. Let’s imagine that you want to bet on Real Madrid. However, you are not quite sure if they are going to win because they are not in a good form. Instead of betting on them, you can place a double chance wager. More precisely, you can combine two out of three results (win and tie, for example).
Of course, the odds on these options are usually low. They are not going to bring you a lot of money. Yet, they are usually a safe way to reach the goal you have.
Let’s imagine that you place a wager three hours ago. You placed $30 on 1.8 odd. The odd will remain the same until the end of the game for you. However, that doesn’t mean it would not change for other bettors. For example, in the meantime, one of the clubs announced that one player suffered an injury before the game. When something like that happens, sportsbooks reduce or increase the odds. However, that is not something you should worry about. If the odd you placed a bet on was 1.8, it will remain the same for you.
Horse bettors are the only ones who can potentially experience something like that. It may happen their odds change for parimutuel betting. However, even that happens rarely.
We believe this term says the full story. Bettors use different strategies to increase their chances of winning. One of the betting strategies that you will potentially use is flat betting. All the wagers you place will remain the same even when you win or lose.
Another type of bet that is only possible to find in hockey matches. It refers to a wager for the under and over on total goals on the match. For instance, the boundary for the match is 4 goals. If you place $40 on the over option, and the end result is 3:2, you will get your money. The odds on both options are usually identical or similar.
The improvement of advanced technology also influenced the sports betting world. People can now place a bet during the game. For example, let’s imagine you are watching a tennis game. You can place a wager on the winner of the next game or set. Despite that, you can also bet on the team that will score a goal, who will have the first corner on the match, etc. Sportsbooks are creative, and you will get surprised by the number of options live betting offers.
Point Spread Betting Odds
Point spread betting odds are a bit specific. Because of that, we would want to explain them before finishing this article. The purpose of these odds is to determine which team will more likely win the match. However, they also provide the margin of points the team is going to lose or win by.
Let’s use an example to make things clear. Let’s imagine that the Patriots are playing against New England. The point spread is Patriots -3.5 and Cowboys +3.5. If you bet on the Patriots, they will have to win with at least four more points. If they win by only one or two points, you won’t receive the reward. We analyzed only one part associated with point spread betting odds. For more information, visit https://nostrabet.com/en/betting-academy/what-is-point-spread-betting/.