This will be part-1 of a 3 part tutorial. This post will cover a general introduction to sport betting, assuming the reader is completely new to the subject.
Part-2 and Part-3 of the 3-part tutorial will use what has been learned in this tutorial to cover more advanced topics like how to be successful at rugby betting, where we will cover rugby betting in detail focusing on NRL, AFL and rugby union betting.
Introduction To Sport Betting
Sports betting can make you a lot of money or lose you a lot of money, if you don’t know what you are doing. Needless to say we want to make money so that is why it is essential to have a good foundation and understanding of sports betting, and that is what this post will give you, a good solid introduction to sport betting.
Making your 1st bet
Sports betting in its most simplest form consists of 2 teams competing against each other. The gambler, will choose either team-1, or team-2 to win. If you think neither team will win you can also bet on a draw, as can be seen in the image below:
Introduction To Odds
As can be seen on the image above you can either place a bet, also known as a wager, on either France or Italy or you can go for the draw. Each selection has a different price, known as odds.
Selecting Italy: If you think Italy will win the match and you place a $10 wager on Italy, should Italy win the match you will receive $60 for your winning bet.
Selecting France: If you think France will win the match and you place a $10 wager on France, should France win the match you will receive $11 for your winning bet (which is only a $1 return / profit)
To calculate your winnings, also known as return, you will use the following Formula: Stake * Odds = Return
Why Are Odds Different For The 2-teams?
Bookmakers will set the odds based on many factors. In the above example, the bookmakers believe France are the stronger team. They (France) have the home field advantage, better players and have a good winning record against Italy, thus the bookmakers will make the odds short. Meaning France has a better chance of winning, and you will receive less money when you place a bet on France. Should an upset happen and Italy win or the match ends in a draw you will receive a lot more money
You might think why place a bet on France if the odds are so short (1.11) if you place a $10 bet on France you will only make a $1 profit. However in this example France is very likely to win, thus you might want to place a large bet on France.
Should you place a $1000 bet on France to win you will receive a $100 return, easy money! This is one type of betting strategy that many people use, you place a large bet on a team with short odds, that is likely to win. This strategy can be successful and give you some good returns, however be sure to research and find out as much as you can about the match before placing your bet.
Introduction To Sport Betting – HANDICAPPING
Handicapping is a strategy which bookmakers use to make the odds more even. In the above example the Bookmaker believes France will win (so the odds are very short, see img-1) To make the odds even handicapping is introduced.
Looking at the above example if you place a bet on France they will start the match with a score of -15, to win your bet France will need to beat Italy by more than 15-points.
Example: If the match ends with a score of France 35 – Italy 18 you will win the bet had you selected France, because they won with more than 15 points.
If you select Italy they will start the match with 15-points. Even if Italy lose you can still win your bet providing they lost with less than 15-points
Example: If the match ends with a score of France 25 – Italy 18 you will win the bet had you selected Italy, because they lost with less than 15-points.
Should an upset happen and Italy win the match you will still win the wager, but will get paid at the odds you selected, in this case (1.9). For a straight win the odds was (6.0) but because you made a handicap bet the wager will get paid out @1.9, so if you made a $10 bet you will get paid $19.
Handicapping – Conclusion
Handicapping is a great way to make a bet more even, however as can be seen by the even odds it is more difficult to pick a winner. You can be successful with handicap betting providing you do the necessary research. Following teams looking into previous results and considering the teams current form can give you the edge when it comes to handicap betting.
Sport betting is a great way to add some excitement to a match. It is easy to start and signup for an account. many bookmakers offer signup bonuses for new customers (see our bookmaker review page)
Now that you have a solid understanding of straight betting and handicap betting you can start placing your wagers. Remember to do your research before placing a bet, and try to beat the bookie! Good luck, and remember to gamble responsibility!
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