Beginner’s Guide to Online Sports Betting
Betting on sports events has been around probably as long as sports themselves. Going back to ancient Greek and Roman times, races between chariots or gladiators fighting in the arena, invited all kinds of gambling. Over the years gambling was driven underground but it continued expanding. Some governments eventually realized, that legalizing and taxing gambling makes more sense than letting it run rampant underground. The internet soon changed the level of access to gambling and since the 90s, governments around the world are trying to catch up.
How Does Sport Betting Work?
As a beginner, looking at the numbers on a sportsbook can be daunting and confusing. Sports betting sites often include their own guide but as long as you know the basic mechanics of sports betting, you can play anywhere. The odds, are the most essential part of sports betting. They represent the likelihood of a certain outcome and how much you will get paid out if you win. The stake is another important element of sport betting, which is effectively the amount of money you would like to place on a bet.
Why Do Sports Betting?
As with everything, there are pros and cons to online sports betting. One of the biggest advantages of sport betting is that the outcome of games can not be manipulated or changed. With the ease of access to online sports betting, placing a bet on your favorite team adds an unmatched element of excitement to the game. Another point for sports betting, is that winning a sports bet is not just about luck! Your knowledge of a particular sport or team, may give you an advantage while placing a bet.
What Should You Know Before a Sports Bet?
Before you start playing, there are steps you can take to ensure your safety.
Check If It Is Legal in Your Jurisdiction
Before you start, make sure you are checking all the regulations of where you are located. It is important to know where is sports betting legal and where it is not. The laws around gambling seem to be changing very often and there are gray areas where legal sport betting may not be common, but it is also not strictly illegal.
Understand the Site’s Betting Rules
While there are universal rules for placing a bet online, each website has a set of rules, terms and conditions. It is true they are full of jargon and sometimes intentionally vague, but if you are shopping around for a new website, it is always worth reading the fine print.
Make Sure That Depositing and Withdrawal Rules are Acceptable to You
Even the best online sport betting sites can have rules around their depositing and withdrawal that may not match your needs. Maybe you expect to have no banking fees associated with your payment, maybe you expect instant transfer for your withdrawal, or perhaps you would like to deposit using the newest cryptocurrency; whatever it is, make sure to check out the deposit and withdrawal rules of your chosen site.
Understand How Betting Lines Work on the Site
Some of the most common types of bets are point spread and moneyline. Moneyline is the simplest betting type by putting a bet on a specific team to win regardless of the points. Point spread is betting on who wins and by how many points. Giving one team, a deficit (or handicap) or a head start so that the bias of a stronger team is removed for betting. While these terms are mostly used in North American sites, on CannonBet.com, you can simply see these bets in forms of bets on the outcome, or handicap bets.
How to Find Safe Sports Betting Sites
Online sports betting can be fun, exciting and quite lucrative; but it is important to find safe and reliable website to use. Safe payment options, including the use of cryptocurrencies, ensure the safety of your banking information. For more tips on safe online gambling, you can check this Ultimate Safety Guide.
How to Place a Sports Bet?
Most sites follow the same formula to access sports betting on their site. You sign up by filling a simple form, deposit using their offered methods of depositing, and you place your bet by choosing a game, a bet type and entering the amount of money you would like to wager. Most legitimate sites require you to verify your identity in order to be able to withdraw your winnings.
Sports Betting FAQs
Can you make money by sports gambling?
Yes! But remember, losing a bet is an inevitable outcome on online sports betting. Don’t chase your loss and try to research your choices and bet on what you know.
How much money should I spend on sports betting?
There is no one answer to this question. The most important part is that you only bet with money you don’t mind losing.
Do I need to be an expert in sports to be a successful sports bettor?
No! Of course, the more you understand a game, the easier it is to decide what bet to place at a given time, but anybody with a basic understanding of sports can place a winning bet.
Will I get addicted to betting?
Yes, the possibility is there. Research shows that majority of people playing online, are doing so responsibly. It is important to avoid gambling if you have an addictive personality or you are having a hard time staying in control of your budget.
Conclusion
Betting on sports is an ancient pastime and can be an exciting and lucrative hobby. Before placing a bet, make sure you know the website’s terms and condition, and familiarize yourself with their withdrawal process. Look at sports betting as a hobby: enjoy the wins and never chase the loss.
About The Author: John Duncan is a web operation executive at CannonBet. Born and raised in the cybersecurity world. He authors guides on cybersecurity and safety and loves sharing the best practices. You can contact the author via email.