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HOW and WHERE to BET:

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INDEX:

HOW TO BET HOCKEY

HOW TO BET FOOTBALL

HOW TO BET BASKETBALL

HOW TO BET SOCCER

Bankroll Management

HOW TO BET HOCKEY

How to Bet on Hockey

Betting on hockey is much like betting on baseball and for similar reasons. During the 2020 NHL season, teams averaged a combined 2.94 goals per game. Because of the limited scoring in hockey, betting requires some strategy and it starts with the basics. Like other sports, there are many ways to bet on hockey and they can be profitable.

Moneyline Bets

The most popular way to bet on hockey is to bet on the moneyline. When you place this type of bet, you are simply wagering on a team to win. Favorites in sports betting are indicated by a minus sign in front of their odds. The underdog will have a plus sign in front of its odds. Look at this example.

Washington Capitals -140

Pittsburgh Penguins +115

If you like the favored Capitals to win, a $20 bet on them would pay out a little over $34 at -140 odds. If you like the underdog Penguins to win, your $20 bet would pay out $43.

Puck Line Bets

Puck line betting in hockey is similar to run line betting in baseball. It is essentially betting the point spread where you wager on a team to win or lose by a certain number of goals. Because of the low-scoring nature of hockey, a point spread known as the puck line is established typically at 1.5 goals.

A favorite – Washington -1.5 for example – would have to win by two goals in order to cover the spread. The underdog – Pittsburgh +1.5 – would have to either lose by one goal or win the game outright.

Puck lines can change when there is a lopsided matchup or if bettors are flooding one side of the bet compared to the other. You also have the ability to bet alternate puck lines which will have different odds than the standard 1.5 puck line.

Totals Bets

Just like other sports, hockey bettors have the ability to wager on the total number of goals scored in a game. Typically, a game total in the NHL is set between 5 and 6.5 goals. There are times when you may see a total outside that range, but that doesn’t happen very often.

Using the Capitals-Penguins example again, you see that the total is set at 6. If the final score is 4-3 and you bet $20 on the Over, your payout would be a little over $38. If the final was 2-1 and you bet $20 on the Under, your payout is the same at -110 odds.

Washington Capitals O 6 (-110)

Pittsburgh Penguins U 6 (-110)

Moneyline, puck line, and totals bets are the most common bets on hockey. There are plenty of others too, including player and game props. One of the favorite prop bets in hockey is on shot totals for both individual players and teams. Betting on hockey is exciting and it’s important to keep in mind that since not as many bet on the sport the market is not as efficient as the more popular sports. That creates opportunities for value for even inexperienced bettors.

HOW TO BET FOOTBALL

Sports betting, in general, is on the rise in the U.S. after courtroom battles have opened the doors for legal sports gambling in many states. Since football, both college and NFL, are so popular, football betting makes up a huge portion of legal bets placed in the U.S. So, how can you get in on the action?

If you have never bet on football before or don’t have much experience doing so, you have come to the right place. In order to have success in football betting, you must first have an understanding of the basics.

Understanding Betting Lines

To bet on football, one must first have some working knowledge of college and NFL lines. There are a number of ways to bet on football, but the three most popular and traditional betting methods are moneyline, point spread, and game totals.

Moneyline Betting

Moneyline betting is the easiest for beginners to understand. When placing a moneyline bet, the bettor is simply picking the winner of a college or NFL game. Moneylines are typically expressed in American odds and reflect a team’s implied probability of winning a game. Without getting too deep, here is an example of an NFL game.

BALTIMORE -225

CHICAGO +188

In this game, Baltimore is the favorite. Favorites are indicated with a “-“ in front of their odds to win. In this case, a bettor that wagers $225 on the Ravens to win would win $100 if they do indeed win. On the other end, a moneyline underdog is has a positive value next to its odds. A $100 bettor would win $188 if the Bears won.

Point Spread Betting

Another traditional method of football betting is using the point spread. Teams are required to win or lose by a certain number of points in order for a bet to win. Oddsmakers determine the perceived difference between two teams and express that difference as a point spread.

The stronger team is the favorite and is indicated by a “-“ next to the point spread. The weaker team, or underdog, will have a “+” next to the spread. Let’s use the same Baltimore-Chicago game as an example.

BALTIMORE -5 (-110)

CHICAGO +5 (-110)

Baltimore is favored by five points. That means in order for a bet on the Ravens to cash Baltimore must win by six points or more. A bet on the Bears wins if Chicago loses by four or fewer points or if the Bears win the game outright.

The -110 next to the point spread is commonly known as the “juice” or “vig” which is simply the amount a sportsbook takes to place your bet. It is typical for sportsbooks to take 10 percent (-110) when placing a point spread bet. What that means is a bettor would wager $110 to win $100 on either Baltimore or Chicago in this case.

Totals Betting

The other traditional form of football betting is on the game total. When a bettor doesn’t have a clear idea of which side to take in a game, it’s possible to bet on the total number of points that will be scored in a game. Bettors can wager on the total going Over or Under a set amount.

BALTIMORE O 43.5 (-110)

CHICAGO U 43.5 (-110)

In our example, the game total is set at 43.5. A bet on the Over means you believe the combined final score will be at least 44 points or more. A winning Under bet in this case would have to have a combined final score of 43 points or less. Again, there is a fee for placing the bet which is expressed at -110.

Moneyline, point spread, and totals bets are the most common in football betting. There are more and there is much more to learn. Check back frequently for more tips and strategies on how to become a better football bettor. 

HOW TO BET BASKETBALL

How to Bet on Basketball

Basketball, both college and professional, is one of the more popular sports for bettors. There are a number of different ways to bet on basketball, but the most common methods of basketball betting are moneyline, point spread, and totals bets. To have success in betting on basketball, it helps to understand these three traditional bets.

Basketball Odds

Before we begin to understand how to bet on basketball, it is essential that bettors know how to read odds. These are expressed as a numerical value with a plus sign (+) in front of the underdog and a minus sign (-) in front of the favorite. See the example below.

Boston Celtics +110

Miami Heat -110

The Heat is the favorite in this case with the Celtics as the underdog. The numbers themselves represent actual odds and are based on a $100 bet. The -110, for example, represents that a bettor must wager $110 in order to win $100. The extra $10 is the juice, or commission, that the sportsbook earns for taking the bet.

Betting on the Moneyline

A moneyline bet in basketball is simply a wager on which team will win a game. We can use the same example from above. This time, though, the odds will reflect a team’s probability of winning.

Boston Celtics +220

Miami Heat -260

The Heat are favored to win. In order to win a $100 on a Heat victory, a bettor must wager $260. A bet on the Celtics is a little riskier as they are not predicted to win. However, a $100 wager on Boston would pay out $220 if the Celtics were to win.

Betting the Point Spread

Two teams are usually not evenly matched in an NBA or college basketball game. Oddsmakers can add a point spread which gives bettors an alternative to picking one team to win over the other. The underdog is given a certain number of points to start putting the favorite at a disadvantage.

The bet then is on whether a team will cover that point spread or not. Let’s take another example using Golden State and Minnesota.

Golden State Warriors -14.5 (-110)

Minnesota Timberwolves +14.5 (-110)

The Warriors are the favorite and must win by at least 15 points to cover the spread. If they do cover, a Golden State bettor would win $100 on a $110 bet. Likewise, a bet on Minnesota wins if the T-Wolves lose by 14 or fewer points or they win outright. Again, a $110 bet wins $100.

Betting Totals

In its simplest terms, a totals bet is one on whether the combined final score of a game goes Over or Under a set number of points. This bet has nothing to do with the outcome of the game.

Golden State Warriors O 220

Minnesota Timberwolves U 220

If you bet the Over in this game, you need the combined final score to add up to 221 or more points. A bet on the Under would need a combined total of 219 or less. If the final score totaled 220, the result would be what is called a “push.” Bets are typically refunded in such cases.

Like moneyline and point spread bets, totals bets are available for college basketball games too. The posted total is typically a lot less in a college game than an NBA game. College teams play for 40 minutes. The NBA plays for 48.

There are a number of other ways to bet on basketball. These three are the most traditional and the most common. Check back periodically for more information about how to bet on basketball.

HOW TO BET BASEBALL

How to Bet on Baseball

Betting on baseball keeps bettors in the action during the summer months when the sports schedule is little lighter. One of the advantages of betting baseball is the sheer amount of games. Bettors have 2,430 games from which to choose throughout just the regular season. Add in futures, props, and other specials and there are plenty of opportunities to achieve success.

Betting on MLB is bit different than football and basketball though. Baseball is primarily a moneyline sport. Because of the lack of scoring in baseball, bettors typically wager on the moneyline, betting on which team wins. It is possible to bet on a point spread – known as the run line – in baseball, but it is less common. There are also totals bets in baseball just like in other sports.

Here is a guide to help you learn how to bet on baseball.

Moneyline Bets

Just as in other sports, bettors can wager on which team wins a game when betting on the moneyline. A typical MLB moneyline bet looks like this:

PITTSBURGH +200

PHILADELPHIA -175

In the above example, the Pittsburgh Pirates are the underdog as indicated by the +200. The Phillies are the favorite to win. If you bet on the Phillies and they win, a $175 wager would win you $100. A $100 bet on the Pirates would win $200 if Pittsburgh pulled the upset.

It makes good sense then for MLB bettors to find plus-money underdogs that feature a pitching advantage, for example. One of the biggest factors in baseball betting is the starting pitching matchup.

Totals Bets

Bettors can also wager on whether or not the final score will go Over or Under a set total. It’s a simple bet and would appear at a sportsbook as follows:

PITTSBURGH O 7.5 (-110)

PHILADELPHIA U 7.5 (-110)

MLB game totals are often found in increments of a half-run. Setting totals in these increments can help to reduce the number of “pushes” in a season. A “push” occurs when the final score ends up equaling the posted total.

In the above example, a “push” cannot occur. A bet on the Under wins if the teams combined for seven or fewer runs. An Over bet wins if the final combined score is eight or more. The (-110) reveals that bettors must wager $110 to win $100.

Run Line Bets

While moneyline and totals bets are pretty straightforward, betting the point spread is a bit different. In baseball, it happens to be very different because of the lack of scoring. To bet on point spreads in baseball, bettors can choose to wager on the run line.

Typically, a run line is set at plus- or minus-1.5 runs. To win a run line bet on a favorite, the favorite must win by two or more runs. Likewise, to win on the underdog, the underdog must win outright or lose by one run. Run line bets look like this:

PITTSBURGH +1.5 (-105)

PHILADELPHIA -1.5 (+100)

If you like the favorite – Philadelphia – to win by two or more runs, your $100 bet would win you $100. If you like the Pirates to cover, a $105 bet would win $100.

Biggest Factors in Baseball Betting

The single biggest factor in betting on baseball involves the starting pitchers. Relief pitchers can also figure into the mix. Matchups between one team’s hitters and another’s pitcher also have an effect on game outcomes.

Weather plays a significant role in baseball as wind and hot/cold temperatures have something to do with how far baseballs fly when hit. Ballparks can also have an impact on games. Some stadiums are more hitter-friendly while others are more pitcher-friendly.

HOW TO BET SOCCER

How to Bet on Soccer

It is the world’s game. Futbol, as they call it, is more popular around the world than any of the four major professional sports in North America – football, basketball, baseball, and hockey.

Because it is so widely played, there are numerous professional soccer leagues around the world. That gives bettors an opportunity to wager on an almost endless number of games. That said, betting on soccer is a little different than betting on sports like football and basketball.

Like other sports, there are a number of ways to bet on soccer. If you are thinking about placing bets on soccer matches, make sure you understand what you are doing first. Here are some of the ways you can enjoy betting on soccer.

Betting on the Spread

Betting the point spread in soccer is much like doing so in hockey. In hockey, bettors wager on the puck line which is the equivalent of betting the point spread. In soccer, you can bet on the “goal line” which is the sport’s equivalent of the spread.

A goal line is typically set at 0.5 for soccer matches. In some rare instances, there may be a big favorite that could push a goal line to 1.5 or even 2.5. Let’s take a look at an example. Let’s say Brazil and Argentina are playing each other in a World Cup match.

ARGENTINA -0.5 (+110)

BRAZIL +0.5 (-110)

As with all point spreads, there is juice – the +110 on Argentina for example – involved. A $100 bet on Argentina would win if they won by at least one goal. That bet would payout $110. A winning bet on Brazil would require the Brazilian team to win outright or have the match end in a draw.

Betting Soccer Totals

Betting on match totals in soccer is also different from betting on totals in other sports. Scoring is pretty scarce in soccer and, because of that, oddsmakers set totals in increments of 0.25. A soccer match total is typically 2.25, 2.50, or 2.75.

Now, when you place your soccer totals bet, the bet is divided in half. Let’s say you place a bet on the Over at 2.5. Half of your wager is on Over 2 and the other half is on Over 2.5.

In the example, the final score of the match is 1-1. Since 2 is less than 2.5, the bet on the Over 2.5 is a loss. The other half of the bet – Over 2 - is a push. If the final score had been 2-1, both halves of the bet would win.

Two-Way Moneyline

Bettors can wager on the two-way moneyline in soccer matches. The bets are Double Chance or Draw No Bet. Each of these wagers is good only for the 90 minutes of regulation play, not any extra time.

The Double Chance bet is where a bettor wagers on a team to win or draw. There are three potential results in a soccer match.

Team A wins or draws

Team B wins or draws

Team A wins or Team B wins

If we go back to the Argentina-Brazil match, a bettor could wager on Brazil to win or draw at -215 odds. If Brazil wins or ties, the bettor wins. The same is true for a bet on Argentina to win or draw at -165 odds.

Draw No Bet wagers simply eliminate the draw. Any match ending in a tie results in a refund of the bet. A Draw No Bet soccer wager would look familiar to many bettors. It looks like the typical moneyline bet.

BRAZIL -215

ARGENTINA +155

Three-Way Moneyline

The three-way moneyline is another way to bet on soccer matches. Like the two-way moneyline, only the 90 regulation minutes count. Again, there are three results in a soccer match. Team A wins, Team B wins, or the two teams play to a draw.

The 2014 World Cup final had a three-way moneyline that looked like this:

ARGENTINA +255

GERMANY +130

DRAW +230

At the end of regulation play, the two teams were tied at 0-0. Germany would go on to win in extra time. A $100 bettor who wagered on the draw, would have won $230.

There are numerous ways to bet on soccer and they are fun and exciting. Like other sports, there are numerous futures and props bets to take advantage of. Just be sure you know what you are getting into before you place your bets.

Bankroll Management:

Bankroll management isn’t the sexiest sports betting topic, but it’s one of the most important for successful sports bettors.

The margins in sports betting are extremely thin. The break-even point is 52.38% after accounting for the standard -110 vig, and winning more than 60% of your sports bets is pretty much unheard of. That means the difference between winning and losing is just a few percentage points in each direction.

With that in mind, properly managing your bankroll is arguably the most important skill outside of actually handicapping games.

What is bankroll management?

Your bankroll in sports betting is different from your bankroll in the real world. In real life, money is typically your reward for performing your job. You use that money to pay for goods and services, and then at the end of your pay period, you’re rewarded with more money. It’s a cyclical process.

In sports betting, your ability to generate more money is only made possible by using your current money. If you’re too aggressive and your bankroll dwindles, you’re not going to be able to generate any additional income without reloading your account. Therefore, it’s on you to protect your bankroll and look to grow it in a responsible manner. That’s bankroll management in a nutshell.

You need to look at beating the sportsbooks as a long-term process. Given the slim margins, short term variance can put a dent in your bankroll if you’re too aggressive. It is only over a long period of time that the cream is certain to rise to the top.

How much should you wager on each game?

In a perfect world, we would all have monster bankrolls enabling us to comfortably wager around 1% on each bet.

But of course, this approach isn’t the most practical for bettors who are just starting out.

If you start with a bankroll of $1,000 — which is not an insignificant amount of money — 1% works out to just $10 per wager. That’s not exactly the most enticing way to start a hobby.

Being more aggressive with a smaller bankroll is fine, but I wouldn’t recommend moving your wager size above 5% of your total bankroll. Anything more than that is simply too risky.

A good medium is probably around 2.5%.

Whether you decide to go with 1%, 5%, or somewhere in between, that amount would be considered your standard “unit” size.

Units

Units are used in the sports betting world because it makes it easier to compare your results to other bettors. After all, if one player has a $10,000 bankroll and another player has a $500 bankroll, it wouldn’t be fair to compare which bettor has made more money wagering on the NFL. The player with the larger bankroll could have a far worse record but still be up more money through sheer volume.

Setting a unit size allows you to determine how much you are up relative to your standard wager. If you’re someone with a unit size of $100 and you’re up $500, that would mean that you’re up five units. It also allows you to extrapolate how much money you could potentially make as your unit size increases. Unit size is often displayed as 1u.

New Orleans, LA, USA; New Orleans Saints wide receiver Michael Thomas (13) celebrates with quarterback Drew Brees (9) after making a fourth quarter touchdown catch against the Arizona Cardinals at the Mercedes-Benz Superdome. Mandatory Credit: Chuck Cook-USA TODAY Sports

Importance of bankroll management

So why go through all this trouble? In addition to the obvious reason that you can’t bet on sports if you lose all your money, there are some important psychological factors to consider.

Dealing with streaks

Dealing with losing streaks is extremely tough for even the most seasoned sports bettor. Even if you’ve found success in the past, it’s difficult to stay disciplined when the losses start to pile up. It’s human nature to try to “chase your losses”, which is why the betting handle for Sunday and Monday night football is often significantly higher than the betting handles for the Sunday afternoon games. If people have lost during the day, they want to get out of that hole as quickly as possible.

This is the definition of a bad process and is a good way to blow through your entire bankroll. Employing sound bankroll management is the easiest way to ensure you aren’t chasing your losses and you can live to fight another day.

The same is true when you’re on a winning streak. You can feel invincible in those situations, which can lead to poor decision making. You are certainly allowed to increase your bet amount when you’re on a roll, just make sure you’re doing it in a responsible manner.

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