Online sports betting is an immensely popular hobby. Countless sports fans the world over enjoy betting on sports not just because it adds excitement to a pastime they already enjoy, but because on top of that, there’s an opportunity to profit from it.
Another reason for online sports betting being as popular as it, is lies in its simplicity. You can place bets with very basic knowledge of the sport concerned and still have a chance to win money. When it comes to winning consistently, of course, that’s another matter entirely. That requires more knowledge on your part, both in terms of betting strategy and of the sport itself. While this isn’t essential when starting out, it’s something to bear in mind. There’s no shortage of information and statistics online to help you increase your knowledge over time.
Fixed odds online sports betting is the most traditional form of sports betting and it’s the one you’re most likely familiar with. The term “fixed odds” means that both you and the bookmaker agree upon the odds before you place your bet. Even if the odds move later on, you will be paid out at the odds agreed upon at the time the bet was placed.
While live online sports betting is similar to fixed-odds betting, there is one key difference. You place your bets while the event is in play. Live betting allows you to place your bet at any time during the event and take advantage of the continually-fluctuating odds.
Point spread betting isn’t as simple as picking a winner. You instead bet on a margin by which you think a team will win or lose by. The favourite needs to win by a predetermined number of points, and the underdog needs to avoid losing by that same number.
One of the most popular forms of online sports betting in recent years is fantasy sports. While it’s more common in the U.S., fantasy sports has gained in popularity in Europe, too. It’s a great way to have fun with friends while putting your knowledge to the test and make money at the same time.
Those new to sports betting should consider getting their feet wet with one sport. You won’t be spreading yourself too thin by trying to juggle too many sports at once, and by narrowing your focus, you’ll have an edge, as you will only be researching one sport and not risking your money on multiple sports where you have limited knowledge.
Trying to stay on top of hundreds of games from multiple sports is hard work and makes it close to impossible to forge a winning strategy out of. So take a ‘go with you know’ approach to online sports betting and study every team and every player on that team so that you can feel confident what you’re betting on. You will find your confidence growing alongside your bankroll.
If you plan on making money with online sports betting consistently, it’s important that you learn to find value. If you don’t, you won’t have a chance of staying in it long-term. This is what the majority of sports bettors fail to realise. Rather than looking for value, they simply bet on the outcome they think will occur. While this might seem logical, it’s flawed. You might even win a lot of bets this way. However, it isn’t the way to secure a long-term profit.
While it might seem counterintuitive, to find value, first ignore the odds. Then focus on a sport you know about and use all of the statistics you have available to you. Look at the standings, the home and away records, read all of the injury reports, assess how the absence of any missing players has affected that team’s performances in the past and so on. Then and only then, look at the odds and ask yourself if you feel that the value they offer is worthy of your bet.