Sports Betting for Dummies 101
If you’re new to Sports Betting, don’t worry – you’re not alone! Betting on sports with Bitcoin is a popular way to get started, and it’s easy to learn the basics. In recent years, Sports Betting has become more mainstream, and the industry is now worth billions of dollars. Where before it was always considered “taboo” to place a bet on the Dallas Cowboys online, now its advertised everywhere as the new sensation and its “Ok” because America says so.
1. One of the first things you need to understand is the concept of favorites vs. underdogs. When oddsmakers set the betting line, they determine which team is the favorite and which is the underdog. The favorite is the team more likely to win, and their odds will have a minus sign. On the other hand, the underdog is expected to lose, and their odds will have a plus sign.
2. There are two primary ways to bet on favorites and underdogs – through the point spread and the moneyline. The point spread is a bet on the margin of victory, while the moneyline requires you to pick the outright winner of the game. American odds are used to calculate the payout, which is centered around winning $100. For instance, if you’re betting on a -200 favorite, you’ll need to risk $200 to win $100, or any fraction of that. In contrast, if you’re betting on a +200 underdog, you’ll win two times your money for every dollar wagered.
3. Totals, another popular way to bet is through Over / Unders also known as Totals. Oddsmakers will set a total number of points scored in a game by both teams combined, and bettors can wager on whether the game will go over or under the total. The final score doesn’t matter in this type of bet, as long as it falls above or below the set total.
4. Also with Sports Betting you will often see a -110 number listed next to your team. This is the price you need to pay to bet that spread, and it represents the odds that the bookmaker is offering. By understanding these key concepts of Sports Betting, you can make more informed decisions and hopefully increase your chances of winning.
5. Future Bets, select the sport and event you want to bet on: Future bets are typically available for major sporting events like the Super Bowl, World Series, NBA Championship and College BB March Madness Champion. Choose the type of future bet you want to place: This could be a bet on the winner of the event, the point spread, or the total number of points scored. Decide on the amount you want to wager: Make sure you only bet what you can afford to lose.
6. Prop Bets, also known as proposition bets, are a type of bet that allows you to wager on specific outcomes or events within a game or event. Prop bets can range from the outcome of a single play or pitch to the total number of points or goals scored in a game.
Its important when wagering online you select a reputable Sportsbook with many years in business that’s known for prompt payouts. This way you can enjoy the games and know that your online bets will be paid when its time to cash out. Crypto Apex recommends only the Top Online Sportsbooks in the world.
Also we advise betting with Bitcoin or other Cryptocurrencies, this ensures your payouts will be made same day, sometimes within the hour of requesting your funds!
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