Essentials of Online Sports Betting
Since the dawn of sport in all its beautiful shapes and formats, people with a passion for it have taken part in sports betting. Spectators share in the competitive excitement that radiates from the pitch, by taking part in wagers to see who knows their sport better. What started as something you’d have to attend the fixture to take part in has now gone online. Anybody from anywhere on earth can bet on any sport event taking place. If you can think of the sport, there’s a sports betting agency offering markets for it. New to the thrilling world of sports betting? We’re discussing the essentials of online sports betting in this article.
The basics of online sports betting
What are the basics of betting?
A bet, or wager, involves three parties. One is the bettor, who wants to place a bet on the outcome of a sport or other competitive event. The second party is the betting agent or ‘bookie’ who accepts the wager and either pockets the losing bet or has to pay out on a winning bet. The third party is the team or individuals taking part in the event that is being bet on.
How do you start sports betting online?
Starting to bet on the outcomes of sports online starts with you finding a reputable sports betting agency like Bet.co.za. You want to pick a platform that has self-help guides for people just starting out, and a comprehensive base of sports betting information for you to access and leverage when betting on sport online. Choose a sports betting website that makes it easy for you to get going. With Bet.co.za, all you need is an email address and an internet connection to setup your account and start winning big!
Understanding odds
How do sports betting odds work? Fire Brand American League describe three main types of betting odds. These are three ways to write the same thing, being the odds associated with the wager. Understanding betting odds means you can tell two things just by looking at them:
Which team is estimated to succeed and which not
Calculate how much a successful bet will pay out
The three types of betting odds are:
Decimal odds
These are the most commonly used betting odds around the globe, thanks to them being the fastest way for bettors to calculate their winnings. Here’s an example of decimal odds:
Kaiser Chiefs: 2.6
Orlando Pirates: 1.4
The above odds tell us that Orlando Pirates are the favourites to win the match, and how much we can expect to win. On a R100 bet, Kaiser Chiefs winning would pay out R100 X 2.6 = R260.
American odds
As the name implies, American odds are predominantly used in sports betting agencies in the USA. These are useful to know when betting on sports like baseball and American football. Here’s an example of American odds:
Kaiser Chiefs: +150
Orlando Pirates: -220
The above odds tell us that Kaiser Chiefs are the underdogs, and that a R100 bet on them will pay out R100 + R150 = R250.
Fractional odds
These types of sports betting odds are not commonly used anymore, but do still have their place on the books of many sports betting agents across the planet. In this format, betting odds are displayed as fractions, for example:
Kaiser Chiefs: 8/5
Orlando Pirates: 2/5
The above tells us that for every R5 wagered on the Chiefs to win, the bettor will have R8 returned. And if anyone is crazy enough to bet on the Pirates at this point, they will receive only R2 for each R5 they bet.
Understanding the moneyline
Most punters will agree that a moneyline bet is the simplest way of betting on sports online. The wager is simple: bet on the team you think is going to win. This format is favouring the underdog, enticing bettors to bet on them for the chance of much bigger payouts. Moneyline betting odds are displayed using the minus or plus-sign.
How to win moneyline bets
Winning moneyline bets comes down to who the victor is when the final whistle is blown. There are three possible outcomes to a moneyline bet:
WIN – The bookie returns your stake plus winnings
LOSE – You lose your stake to the bookie
DRAW – Your stake is returned without winnings or losses
Over/Under Betting
Another essential of online sports betting is understanding the over/under betting format. Here punters wager on how many points or goals are going to be scored in the fixture combined. For example, if a fixture between Kaiser Chiefs and Orlando Pirates produces 5 goals, an ‘over’ bettor will hope he picked a number higher than 4. Likewise, an ‘under’ bettor will hope he picked a number below 6.
Parlays
Betting on sport starts to get way more exciting with parlay bets. These are clusters of bets, with a minimum of two, that pay out huge sums – but only if all of the bets in the parlay are successful. Parlay bets on underdogs will pay out much higher than parlay bets on fixture favourites. If one bet in the parlay loses, the entire group is unsuccessful. When a push occurs, the pushed bet is taken out and the parlay is bumped to a set of odds without it.
Live betting
Traditionally, sports bets were placed in-person and well before the fixture takes place. Today, with the rise of online sports betting, in-game bets have caught on like wildfire. This involved bets being wagered while the fixture is actually taking place. Understandably, the odds shift throughout the game, making betting on these outcomes that much more exciting.
Sports betting bankroll management
How well you are able to manage your sports betting bankroll will determine your success as a bettor. The idea is to make a profit, and that comes down to making the right decisions with your money. What that comes down to is setting yourself strict limits and knowing your sport (and teams/athletes) very, very well.
How much to deposit
Colorado Sportsbooks suggests setting a set ‘unit’ that you stick to for each bet you place. For example, your unit can be R100, meaning that you will only ever place R100 bets – until you get better at predicting winning outcomes of course.
Choosing percentages for wagers
The percentage of your bankroll used on bets should be a calculated assessment of each bet’s context. CSB suggests making your betting unit, as a rule of thumb, 1% to 2% of your total bankroll.
Common online sports betting mistakes
- Betting too big
The first mistake to avoid when betting on sports is to deplete your bankroll on one or two bets. Achieving success takes small, incremental gains using a calculated approach. - Rushing in
Going too big too quickly ties in with the point above. If you enjoy predicting the outcomes of sport as much as we do, you want this hobby to last. Take your time and play the long game. - Unrealistic hopes
Real-life betting isn’t like the movies, where the second yank of the slot machine arm hits a jackpot and you’re an overnight millionaire. Striking it big doesn’t happen very often, so keep to a logical gameplan and who knows – your day might come too.
Finding safe betting websites
Online sports betting involves your money, so you want to partner with reputable platforms that give you the safest ecommerce interactions. Bet.co.za is licensed and regulated by the Western Cape Gambling and Racing Board. We offer safe online interactions, through SD secure EFT, VISA, Mastercard, Zapper, Peach Payments, and other reputable online payment providers.
Placing sport bets online
If you’re ready to kick-start your online sports betting journey, you’re on the right track. You’ll want to head over to Bet.co.za and register your free account. In the mean time, start thinking about the sports you know best. With so many sports to bet on, start with what you know. Use our expansive self-help resources to get a handle on our easy-to-use online betting platform.
Join Bet.co.za now
Betting on sport online doesn’t have to be a hack. Never bet online before? Don’t worry – we make the process super simple! Follow these instructions to join Bet.co.za now:
Go to www.bet.co.za and click on the “Join Now” button in the top-right corner.
Fill in a short online form.
Confirm your email address.
A Bet.co.za account gets you access to our almost endless resources and helpful guides, teaching you the essentials of online sports betting before you start placing your bets. Get registered and start making golden predictions in sports fixtures happening all over the world!
FAQs
What are the basics of betting?
Betting involves two parties: someone placing a bet, and the bookmaker accepting the bet. Predict the outcome, pay your stake, and if you guess right – you get your money back with a return.
How do you start sports betting online?
That’s an easy one. Start sports betting online by claiming a free Bet.co.za account. We make it super easy to get going!
What are the benefits of online sports betting?
Online sports betting means never having to wait for the bookies to open shop. It’s faster to place bets online, and sites like Bet.co.za have useful resources to read and level-up your sports betting game.
How do you successfully bet on sports?
Attaining success with online sports betting takes dedication to your sport. It takes knowing what other punters are predicting, and keeping a close eye on your bankroll management.
How do I win a bet every time?
There is no way to guarantee a bet win every time you place it. But if you hedge your bets cleverly, you can win something on each bet – regardless of the outcome.
Can you make money betting online?
Yes, you can. There are professional punters who make their living betting on sports online. If you do it properly, betting online can make you good money.
