The Basics of Football Betting
Online sports betting has reached new levels of popularity. With more states passing legislation to allow for online sportsbook operation, millions of players have gotten in on the action. But if you are new to this world, you might not know where to begin.
Thankfully, there are plenty of suggestions and tips that can help you get started. Check out the basics and you’ll be ready to start slapping down bets on all the great football action.
Know How to Manage Your Bankroll
Before you ever get started with football betting, you need to know how to properly manage your spending. With any other type of entertainment, you can’t just go into the process ready to throw money at it or you will wind up broke in no time.
The most essential aspect of football betting is knowing how to manage your money. Whatever you decide to put into your betting account, know what percentage you should risk on each wager. Remember that this is supposed to be entertaining, so managing your money will ensure that you get the most out of your betting experience no matter how successful you are when making picks.
Another benefit of managing your bankroll is navigating the cold streaks. They will come and the best you can do is to just weather the storm and hope you have money on the other side.
Make Simple Bets
Football betting can get really complicated very quickly. With all the different betting markets to choose from, it can make any newcomer feel overwhelmed. By keeping it simple, you can not only get a better grasp of what you’re wagering on but also know that your money isn’t just getting thrown in random directions.
Betting the money line is the best place to start. The concept is simple in that you choose who you think will win the game. No point spreads or totals to worry about, just pick the winner. Don’t worry about the odds so much at this point because it can complicate things. Keep your bets simple and it will get you acclimated to the betting world, how to approach each pick and give you confidence to begin expanding your horizons.
Know How to Read Odds
Odds can be the most confusing part of sports betting. Look at all those numbers and symbols, you can easily misinterpret what you are seeing. So, start with the basics: a – symbol indicates a favorite or more likely outcome. A + symbol indicates the underdog or less likely outcome.
Here’s what a bet might look like in a game. The San Francisco 49ers (-210) vs. Green Bay Packers (+140) tells us two things. One, it tells us that the 49ers are the favorite. For two, it tells us that the 49ers are sizable favorites to win outright. This leads into the next part…
Know What the Payouts Are
Now that you know what the odds mean in a general sense, it is time to know what they mean in terms of real dollars. Let’s go back to the aforementioned example with the 49ers and Packers. When talking about a favorite, the number tells us how much must be wagered to win $100. So, to win $100 betting on the 49ers, you would need to bet $210.
On the other hand, betting on an underdog (the Packers in this case) tells you how much a bet of $100 will net you. In this case, a bet on the Packers will garner winnings of $140 for a total return of $240 on a $100 bet.