Betting can be a really fun hobby if done right. It is important to keep in mind that you might end up losing money if you don’t have your betting strategy.
This can happen if you are an inexperienced bettor. If you are new to betting and are eager to place your first bet, learning even a little about how betting markets work and developing your own betting strategy would be very useful to you.
Betting is fun and simple. You simply go to your closest betting counter and place your bet. Easy. However, there are countries that do not have legal sport betting businesses. Also, you may be living in an area with no betting shops nearby or you simply prefer to do the betting from home. Fortunately, some sportsbooks, in countries with legal sports businesses, offer the opportunity to place an online bet by using their online betting sites and apps.
If you are not physically in the state where the particular bookmaker is based, you will not be able to bet. For that reason, there are many international bookmakers that are more than happy to take bets online. Placing online bets can understandably feel risky. However, there are many online bookmakers and casinos that have a good reputation, and therefore they offer you a safe and reliable online betting experience.
Opening a betting account online would be the first step of getting yourself in the world of online betting.
Online betting accounts are similar to brokerage accounts, only way more entertaining. After signing up, filling out basic information, and funding your account, you will finally be able to execute transactions and hopefully win bets. There are many ways to deposit money into your account, but the most convenient way is to do it by using a credit card or Bitcoin.
Understanding the betting odds is necessary before placing a bet. There are three types of betting odds:
Fractional Odds (British odds
Are very popular between British and Irish bookmakers. Fractional odds are written with a “slash (/)”, for example, 9/1 (nine-to-one). This fractional listing would mean that you have the chance to win $9 against every $1 you bet. In addition to the potential $9 profit, you also receive your $1 back. This means the total payout would be $10.
Decimal Odds (European Or Continental Odds)
Will give you a simple number that represents the winning amount that consists of the profit and your original wager. A 9/1 fractional bet would be listed as 10.00 European odds. By placing a $5 winning bet you would get $50 in total ($45 profit plus the returning $5 wager).
Moneyline Odds (American Odds)
Are mainly popular in the US. Favorites’ odds go along with a minus (-) sign that indicates the amount of money you need to bet in order to win $100. For example, if you place a $20 winning bet at -200 odds, you will get your $20 back plus $10 in profits. Underdogs’ odds, on the other hand, go along with a plus (+) sign indicating the potential winning amount of a $100 bet. For example, if you bet $20 on +300 bet, you will get your 20$ plus $30 in profits.
All these 3 types of odds are basically the same thing presented in a different way.
There are many forms of bonuses offered by bookmakers. The most popular type of bonus is the additional credit to your account balance. Furthermore, there are cash-return types of bonuses that are based on how much money you play and how much money you lose. This means that bookmakers are usually rewarding.
Every Wagerer would like a safe withdrawal transaction. If you are not sure if the betting website or application is reliable, it would be a good idea to test it by first placing small bets. Keep in mind to pay attention to the payout time frame. Most online bookmakers will require you to withdraw at least $10 to $20 per transaction. Also, the most common maximum money withdrawal amount is $1000 at a time.
This betting guide should be more than enough to get you started. As mentioned above, betting is very fun or it can be. If you develop the right betting strategy after having gathered enough knowledge you will have a good chance of winning bets in the long run.