Ever since sports betting became legal in the US, this leisure activity has been a hit. Earlier this year, the website of UK newspaper The Guardian reported that punters in the US had bet more than $125 billion since the US Supreme Court made it legal for all 50 states to offer it if they wished four years ago. Additionally, an article on the website of the Pew Research Center, published in September of 2022, reports that one-in-five adult Americans says they’ve bet money on sports in the last 12 months. This has been either with friends or family, at a casino or betting shop or on a sports betting app or casino app.
Now the states are in various stages of legalization, although there are one or two in which legalization looks highly unlikely, such as Utah. Idaho and Wisconsin have also been dragging their heels on legalization.
Are you considering taking up sports betting? Below is a look at some of the most popular sports people like to bet on, plus a basic guide to sports betting.
Table of Contents
Popular sports to bet on
One of the fantastic things about sports betting apps is the freedom they offer players. Not only can people place their bets whenever they want, but they also have tremendous choice in terms of what they bet on. Players can bet a variety of sports.
NFL football, soccer, cricket and tennis are some of the most popular sports for laying a wager on. One other sport that attracts the attention of sports betting fans is basketball. They simply love laying down NBA bets.
Some states also allow betting not just on the NBA, but also on college games, which is also popular. According to the American Gaming Association, more than 17% of American adults planned to bet on the 2022 March Madness earlier this year. Around $3.2 billion was expected to be wagered.
Understanding the basics of sports betting
Sports betting is thrilling and entertaining, and although no one can predict the future, understanding different types of bets and conducting research can improve your chances of winning like Elys Game Technology.
. Here’s a quick, basic guide to sports betting:
Understanding the odds
In betting odds, seeing a minus sign next to a team, individual, etc. on the betting line means you’re dealing with the favorite. This negative number indicates how much you must bet to win $100.
If, on the other hand, you’re seeing a plus sign next to the number on the betting line, you’re dealing with an underdog. You’ll win more if they perform in your favor.
Betting against the spread
Point spread betting isn’t about picking an outright winner, unlike betting on the moneyline above. It’s about betting on the margin of victory (or loss). Again, you’ll see minus signs for the favorites and plus signs for the underdogs. Depending on your bet, the favorites must win by a certain amount of points or more, or the underdogs must avoid losing by a certain number of points, for you to win.
Over/under betting, or “totals betting” as it’s also known, concerns itself with the total score. The sportsbook will predict how many points, goals etc., will be scored. All you have to do is bet whether the total will be higher or lower than the sportsbooks have predicted.
Other types of bets
You can mix things up with parlay bets, which allow you to bet on multiple outcomes all in one stake, or with teaser bets, which allow you to adjust the spread to increase your chances of winning. Both types of bet are riskier, but the payoff is better.
If you fancy a quirkier type of bet, you can go with a proposition bet. Proposition betting involves betting on other aspects of the game. You might bet on how many baskets a certain player will shoot, for instance, or who will post the first points.
After a team wins a championship, sportsbooks will post odds on the likelihood of them repeating the feat the following season and of other events in the following season. Betting on these outcomes is a futures bet and may appeal to you.
Now you know the different types of bets, here are some simple tips to help you start:
- Set realistic expectations. Unrealistic expectations will see you become frustrated with your betting.
- Devise a budget and staking plan. Decide how much you can afford to risk, and are willing to, and stick to it.
- Be selective when placing your wagers. Placing too many can be damaging. It’s also hard to place consistently sensible wagers, so it’s better to focus on a few genuine opportunities.
- Research. Keeping up to date with form, reading news articles and studying some basic statistics are all important for sports betting.
Sports betting has taken off big time in the US. That’s understandable because it’s exciting and enjoyable. Why not follow the tips above and give it a try?