Sports betting, in its simplest form, is putting money on certain things happening during a sporting event. Betting can come in many different forms from a player scoring a goal in football to picking horses to finish first, second and third in any order. The good news for all of you new punters is that online betting has never been easier to use or understand ever before.
Standard betting accounts with bookmakers will allow you to take advantage of a free sign up bonus. This is free cash the bookie will give to you for signing up to bet with that specific website. This is a great way to try out the websites and the bets on offer before having to commit large volumes of your own cash.
Basic Betting Jargon
If you want to place any bet, you will need to know about odds. Odds are the ratios used to determine how much money you will win if your bet is successful. Odds are commonly displayed via fractions or decimals. If you are using fractions then the number to the left of the / is how much you will win for the amount wagered on the right of the slash.
A lot of punters prefer to use decimals, especially when starting out in betting. Decimal odds simply show how much you stand to win for a single unit stake. 'Odds-on' means that a selection is heavily fancied to win and will require that you place more money than you stand to gain in return.
Types of Bets
There are many different types of bets with the most common bet being a single bet. This is a bet with just one selection. A bet with two selections is called a double and a bet with three selections is called a treble. Any bets with more than three selections are known as an accumulator, the odds are cumulative and therefore yield much bigger returns.
There are many different variations of these bets which are designed to offer much better value for you as a punter. Three of the most common in horse racing and greyhound racing are a straight forecast, a reverse forecast and a tricast. A straight forecast is backing a horse or dog to finish first and second in a specific order, reverse forecast is first and second in any order and a tricast is picking a horse or dog to finish first, second and third in a specific order.
It is possible to go even further and make bets which cover multiple selections at the same time. A good example is a yankee bet which is 11 separate bets; six doubles, four trebles and a fourfold accumulator. Other good examples are a patent bet and a lucky 15 bet. Patents are wagers on three separate selections with seven bets; three singles, three doubles and a treble. A lucky 15 is a wager on four selections made up of 15 bets; four singles, six doubles, four trebles and a fourfold accumulator.
Types of Betting Markets
You will often find that each sport has different types of betting markets which are unique to that sport. For example, horse racing offers markets such as; winner, each way bet and place bet, while Football Betting offers; match odds, correct score, first goalscorer, any time goalscorer.
Any good online bookie will be able to help you distinguish between these different types of betting markets easily. Most bookies will list all of the markets available for you to bet on so you know exactly what you are betting on and where to put your cash. This helps to stop you from betting on a market you may know nothing about.
Basics of How to Bet
Once you’ve got your head round the bets available and the bet you want to place, you need to know how to make that bet. In a betting shop you would commonly write down the name of your selection or player, the bet you want to place and how much you are wagering. The good news is that if you bet online, a lot of this hard work is done for you.
Most online bookies have bet slips at the top right hand side of the page as you look at it. When you select a bet, it will go straight into the bet slip and all you have to do to process the bet is enter a stake amount and confirm the bet by pressing the relevant link. The beauty of having a virtual bet slip is that you can keep going back to it and changing it as opposed to having to write out an entirely new bet slip in a betting shop if you change your mind.