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Now you need to decide what to place your bets on. Firstly, you need to choose the sport and then you need to decide which part of that sport you want to place your bets on. For example, if someone chooses football, the person needs to decide whether to place the bets on ‘who wins’, ‘who scores first’, or ‘how many corners a team will have in a half’.

Let’s say there is a match going between a lower-table team and a highly placed team. The probability of a lower team winning is obviously very low, so the odds against them winning are very high. As a result, the rate for the lower team winning is very high. Now, if a person places his bet on the lower team and the lower team wins, he earns a very hefty amount on his bet. This all sounds wonderful, as long as such situations keep on happening. However, how often do we see a top team losing to a lower one?

If the bets are placed on ‘who scores first’, more likely than not, the top team scores first. So placing a bet on them scoring yields a very low amount. Placing the bet on the lower team, however, gives back a big amount on investment. The most logical bets are, however, placed on ‘how many corners’. This requires statistical knowledge of the teams involved. If a bet is placed on a team getting 4 corners in a half, placing your bet on a top team will most likely win you money, because a top team will attack more frequently and thus get more corners. This will ensure a knowledgeable better, who is well versed with the recent statistics of the team, to win regularly.

The best thing about the betting sites is that the better can cash out at any time. If the better feels that he/she is happy with what he is getting at cash out, or if the bet is too risky to carry on any further, the cash out option takes care of that. So, a person is assured of lower risks and a greater chance of recovering the money that was invested.

How to Bet on Sports

Betting on sports is done for the thrill of the game and to make money. While betting on sports can seem almost impossible, especially in today’s competitive world, it is actually fairly simple. First, you will need to understand the basics of what types of bets are placed. Second, you will need to find a local, or online sportsbook to bet at. Finally, if traditional gambling doesn’t suit you, you can always set up your own fantasy sport’s league. Once you learn the fundamentals, you will be on your way to gambling on sports in no time!


Understand the Basics of Betting Odds

Image titled Bet on Sports Step 1

Bet on point spreads. Point spreads help to balance out the odds of each team winning. When people bet on point spreads, they usually talk about (+3.5), (-7.5), (+4), etc. This is how many points are added or subtracted from a team’s final score. Take, for example, the Chicago Bears (+5) and the Green Bay Packers (-5) are playing each other this Sunday. The Bears are less likely to win, so 5 points are added to their final score.[1]

  • In this example, the Packers will have to beat the Bears by at least 6 points for people who bet on them to win. If the Packers beat the Bears by 5 points or less, people who bet on the Packers to cover the spread will lose money.
  • The basic premise is that you need your betting team to either cover the spread, or underperform. In the same example, if you think the Packers will win but won’t cover the spread, put money down on them to do so. If the Packers win by less than 5 points, you will win money.
  • If teams wind up meeting the spread (not under or over) than you neither win or lose money. In the same example, if the Packers beat the Bears by exactly 5 points, no one wins or loses. When point spreads are (+7.5), (-4.5), (-8.5), (+1.5), etc. they are much more dangerous bets. This is because teams don’t score half points, so you will either win or lose.
Image titled Bet on Sports Step 2

Place a bet on the money spread. This is a very simple method. You are betting on who will win the game outright. If you think the Chicago Cubs will beat the Pittsburgh Pirates, you will bet on them, and vice versa. The key here is to look at the point spread of the game. If the Chicago Cubs are given a large point spread (-5) then they are seen as more likely to win. If the spreads are pretty even (-0.5)(+0.5) then the game is largely seen as a 50/50 matchup.[2]

  • Look at the point spread first before you move onto the money spread. If the point spread seems way too high (-8.5) it is best to place your money down on the point spread.
  • If the point spreads are fairly even (-1)(+1) then move on to the money spread. You will be much more likely to win covering a tight money spread.
  • If there is inclement weather, that also is a heavy factor in money spreads. Snow, rain, sleet, fog, etc. can rapidly even the playing field between the two teams, and therefore even up the point spread. The worse the weather, the more random the outcome, and therefore the more money you should put down on the money spread.
Image titled Bet on Sports Step 3

Put your money down on the totals. Totals is commonly referred to as the over/under. This is where the betting organization will give you a number (9), (4), (10), (175), etc. The number they give you represents the total number of points scored by both teams combined. You have to place a bet as to whether or not the teams combined will score below or above that number.[3]

  • Take for example the Los Angeles Lakers playing against the Oklahoma City Thunder. The total over/under will be 215. You have to bet whether the Lakers and Thunder will score combined over or under 215 points.
  • Factor in different circumstances. If superstars are hurt on both teams, and the over/under seems pretty high, you might place your bets on “under.” If superstars are playing lights-out of late, and the over/under seems too low, you might place your bets on “over.”
Image titled Bet on Sports Step 4

Take decimal odds into account. Beside every point spread, money spread, and total (over/under) is a number in decimal form. Decimal odds are always written as positive numbers, never negative. For example, next to the New England Patriots point spread (-8.5) is a decimal figure of 2.798. Then imagine that you bet 0.1 bitcoins (BTC) on the the Patriots point spread that week on an online website. Multiply the bitcoins you bet by the decimal figure, and that is how many bitcoins you will win, if you betted correctly.

  • So for this example, 0.1 X 2.798 is 0.2798. This would most likely be rounded up to 0.28 bitcoins on most websites. You will earn 0.28 bitcoins if you bet correctly.
  • It is important to remember that decimal odds include your initial stake. So, for this example, you will not get 0.28 plus your initial stake. The stake is already included in the 0.28 bitcoin winnings.
  • Bitcoins are a form of specialized online currency.
Image titled Bet on Sports Step 5

Use American odds. Next to every decimal odds number is either a positive or negative number in parentheses. If the number is positive, this is how much much money you will make on a standard 100 bitcoin stake win. For example, American odds are (+170) for the money spread on the Miami Marlins this week. This means that for every 100 bitcoin stake, you will receive 170 bitcoins back. If you put up 0.1 bitcoins as your stake, you will get 0.17 bitcoins back.

  • The great thing about American odds is that you get your initial stake back. So if you bet 1 bitcoin, and receive 2 bitcoins as your winnings, you will get 3 bitcoins back in total.
  • If the American odds number is negative, this is how many bitcoins you have to produce as your initial stake in order to get 100 bitcoins back. So if the odds are (-105) you will have to produce at least 105 bitcoins as your initial stake in order to get 100 bitcoins back.
  • Bitcoins are a form of online currency.

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