With sports betting legalization sweeping through the states, the interest in creating an account of your own might be on your mind. Sports betting can be fun and rewarding, but it can also be confusing for beginners.
Here’s a quick guide of key terms you’ll need to know before you get started betting on sports, how you can WIN betting on sports, and some additional tips on how to find the right sports book to make your initial deposit (HINT: as a first time player you are entitled to a nice signup bonus at basically every sports book :))
TYPES OF BETS
There are a number of different ways to place a wager
on a game or event.
Straight Bets – An individual wager on a game
(football, baseball, basketball, etc.) or event (auto
race, boxing, MMA) will be determined by a point
spread, a money line or a point total.
• Moneyline Bet: A wager where odds are
expressed in terms of money. When a team is listed
with a minus (-) the player lays that amount to win
$100; when listed with a plus (+) the player wins
that amount for every $100 wagered.
• Point Spread Bet: A wager where a team or
participant must win by a certain number of
points determined by the oddsmaker to create
a wager that will attract betting action on both
sides. The point margin is the number of points by
which the favored team must win to “cover the
spread.” Most point spread bets carry odds of -110.
• Total Bet (over/under): A wager based on the
combined number of points scored by both teams
at the end of the game or event, including any
overtime. Most total bets carry odds of -110.
Parlay Bets – A wager that combines more than one
single bet, often across multiple games. All selections
must win to collect. The more teams bet in a parlay,
the higher the payout odds.
Future Bets – A wager made on a game or event
that is taking place in the future. For example, a bettor
might place a future bet during pre-season for a team
to win a championship event.
In-Game (Live) Wagers – Wagers placed on a game after
the game has started. Odds will often be adjusted to
reflect play or conditions.
Proposition Bet – Also referred to as a prop, novelty or
side bet, a proposition bet may involve something that
does not necessarily affect the outcome of the game
or event. For example, a book might post a prop bet for
which team will score the first touchdown in a football
game. Another might be whether the first score will be
a touchdown or a field goal.
COMMON SPORTS WAGERING TERMS
Cover – The betting result on a point-spread wager.
For a favorite to cover, it must win by more than the
spread; an underdog covers by winning outright or
losing by less than the spread.
Handle – The total amount of money wagered by
all customers on a game or event.
Limit – The maximum amount accepted on a single
Line – The odds posted for a game or event. Odds
may change from the opening line to account for
the amount of wagers placed on an event.
Longshot – A team or individual generally thought
to be unlikely to win.
Underdog – The team least likely to win.
Favorite – The expected straight-up winner in a
game or event.
Pick ‘em – A game or event with no favorite or
underdog. The point spread does not come into play.
Point Spread – The number of points oddsmakers
will post on a game in order to attract betting action
on both teams. Generally, the objective is to split the
Push – When the result of a game or event ends
exactly on the listed point spread or finishes in a
draw. All wagers are then refunded.
Sharp – A professional, sophisticated sports bettor.
Square – A casual gambler who doesn’t use
sophisticated reasoning or extensive knowledge
to make a wager.
HOW TO WIN AT SPORTS BETTING
Let’s be honest, this is what it’s all about, right? Becoming a winning sports bettor takes time, dedication, discipline and great money management skills. It doesn’t happen overnight. Some people can’t ever master it no matter how hard they try. So, how can you avoid becoming a SQUARE yourself?
We’ve got one suggestion – try our FREE pick tracking & analytics software, BetWizard. BetWizard helped me become a winning sports bettor (believe me, I used to be absolute CRAP before creating my software). And, it can help you too. All you do is login and enter the picks you are thinking about betting every day. After a few months, BetWizard will tell you where you excel so that you can bet SMARTER. I’ve been using BetWizard for 8 years now and have seen incredible results.
If you don’t feel like going through the effort that’s understandable. There are also numerous publications in your local library and online about the steps you need to take to become a winning sports bettor.
WHERE TO OPEN A SPORTS BETTING ACCOUNT
So, once you’re ready to pull the trigger on some bets, where should you finally join and make your first deposit?
There are a LOT of factors that go into choosing the right sports book. For example, do you plan on betting straight bets or parlays? Are you interested only in pre-game wagering or are someone that thinks they can watch a game for a while and then take advantage of live betting to bet in game and make your fortune? Bottom line, you’ll need to do some research to figure out what book is best for you. The good news is that we’ve got some great comprehensive sports book reviews that you can check out here at CrushSportsBetting.com to help you decide.
But, if you don’t feel like doing the research and need a quick recommendation for a well known, trusted sports book then look no further than SugarHouse Sports Book & Casino. You can check out our review of SugarHouse here.
All new SugarHouse signups that use Bonus Code CRUSH receive a 100% BONUS MATCH (up to $250) on their first deposit made.
Matt Kendelski is the founder of CrushSportsBetting.com and creator of Bet Wizard, a do-it-yourself sports betting analytics and automation tool.