While betting on sports dates back almost to beginning of time, Sports betting online is a relatively new phenomenon. Just about everyone has made a wager of some sort on a sporting event, whether it is at the race track or in the office NCAA basketball pool, most of us have participated in sports gambling. The advent of sports betting online has allowed those who are interested in gambling to have a safe method of placing bets without traveling to Las Vegas, or dealing through a bookie. Now all you need is a credit card, debit card, or a bank account and you are ready to gamble.
To get started sports betting online, first you need to choose a sportsbook. This can be done easily by doing a basic search on any internet search engine, such as google or yahoo. Before opening an account it is best to research the sportsbook. Some considerations to take into account include: financial stability; customer service; and offering of a variety ways to fund your account.
Once you have chosen a place start sports betting online, you will need to sign up for an account. Most of the online sportsbooks have simple, self-explanatory forms to get you started.
After signing up for an account for sports betting online you will need to deposit funds in your account. The ways to fund your account varies from sportsbook to sportsbook, and should be taken in consideration when choosing a website, but almost every online sportsbook accepts Visa or Mastercard, and, for a variety of debit cards. For larger transfers, most online sportsbooks will accept checks, money orders, bank wire transfers, and even Western Union deposits.
Now that you have chosen a sportsbook and funded your account, you are ready to begin sports betting online by gambling on your favorite sporting event. When you go to choose a bet all the numbers may be confusing, so you must be able to understand the odds offered.
Essentially there are four different types of odds that an online sportsbook will specify, sometime referred to as the line. These include Horse Odds, American, Decimal, and Fractional.
Horse odds are the type of odds used in, yep you guessed it, horse racing, The odds are generally expressed in the form of x to y (or x – y). You are risking y in order to win x.
For example, if you see odds listed as 100 to 1, it means that you are risking $1 in order to win $100, or $100 in order to win $10,000. Conversely, if the odds are 1 to 100, it means that you have to wager $100 to win $1, or $1,000 to win $10.
This is the most popular type of odds for sports betting online for the popular American sports, such as football and basketball. American odds are expressed in terms of a “-” for favorites and a “+” for underdogs.
For example, if the line on the team that you want to bet on is “-120”, that tells you that you must wager $120 dollars in order to win $100 (Or risk $1.20 to win $1.00, whichever makes more sense to you). If the line is “+110,” it means that for every $100 you wager, you stand to win $110.
The majority of European sportsbooks use decimal odds by default. Calculating your winnings using decimal odds is simple. If you wager $100 at 2.13 odds, you will receive $213 ($100 x 2.13) if you win (which includes your original $100 stake). If you wager $100 on 1.57 odds you will receive $157 if you win (which includes your original $100 stake).
Another type of odds listed in European sportsbooks is fractions. In such cases, the win amount is listed first. So a line listed as 9/10 would give you $9 for a winning bet on a $10 wager.
Now you have the basics of sports betting online down cold and are ready to go, so choose an online sportsbook and start having fund and making some serious cash at the same time.