Photo by Tim Gouw

Betting has come a long in history as a form of entertainment and income. Bookkeeping was once the primary source of power and income middle-class men had. From England to America, betting is a powerplay and a focal point of innovation and the future. 

Today, traditional betting and bookkeeping are still followed by old-school folks who appreciate the former art of setting up a wager. But gone are the days of slow cashouts and traveling from place to place just to bet. Everyone is now online. So let’s pack up those old betting gears, whip out your PCs, and let’s get down to the business.  

Choose a specific sportsbook for a specific wager.

 

A sportsbook is your key to winding the right bet. It provides you with information that you need to gain or earn winnings in every game. Finding the right sportsbook for you all boils down to your preference; however, you should take note that not all sportsbooks cater to a wide variety of sports or bets. 

There are no criteria for the right sportsbook. Yours can be about more significant limits, or up-to-date information, to a signing bonus that some websites offer. A 250$ bonus is given to new users when you sign up, courtesy of FanDuel, which can be a great asset once you wager on an event. 

Get friendly with the overall layout and spread of the sportsbook.

Some of us are already familiar with how traditional betting works and prefer it that way, but to the millennials who want to get aboard with the whole betting fun, an online sportsbook is a trend. If you’re not yet familiar with the concept of online betting, take time to get to know the layout and spread of different sportsbooks.

Not all online sportsbooks are the same. Some follow a particular layout, while some offer a complicated system of bets. It’s best to get to know how a website presents the odds and sports available to avoid complications when wagering.

Understand the differences between odds.

Online sportsbooks contain odds. Odds are your best friend when it comes to placing a wager, and it helps you understand how much and how big the bets are going. Not all sports and websites follow the same kind of odds. Some sports use specific odds systems, some websites use universal odds for all their sports, and some sportsbooks contains all kinds of odds. 

There are three kinds of odds that online sportsbook use and these are;

• Decimal. The easiest odd to read. Multiply your wager amount to the decimal number (e.g., you wager $20 on an event that has an odd of 1.25, you get $25. $20 from your wager and $5 in winnings.)
• American. It’s also called the Moneyline odds. It’s presented with a negative or positive sign. If it’s negative, that’s how much you would need to wager on to win $100. If it’s positive, that’s how much a $100 wager will payout. (e.g., you bet $10 on an odds of +30 carries you a potential of winning $30.)
• Fractional. These odds can be confusing at first since they’re shown as ratios. The easiest way of reading fractional odds is to look at the left and correct numbers. On the right is the amount you wager, and the left is your winning payout (e.g., if you see a fractional odd with a 50/100 value, your wager amount would be $50, and your payout would be $100.) A point of interest, the favorites usually have smaller numbers while underdogs usually have longer odds, therefore, a bigger payout.

Determine your strengths and weaknesses.

One way of making sure you are progressive in betting is tracking your progress. Knowing what to improve or what to do next is paramount unless you want to keep losing cash. Be always on the know with your odds for every sport. Are you a keeper in the NBA? The NFL? Maximize your gambling winnings to keep the rush of winning.

Try to keep tabs with a prediction market.

Prediction markets are a love child of a bookie and the stock market. They were commonly known as a betting forum where bettors get their predictions from basic statistics from upcoming events. This is a significant edge of being taken advantage of for your gambling pleasure. 

Bet Responsibly.

In all forms of entertainment, moderation is key to success. Betting is fun, and it’s easy to get lost in all those wagers, sportsbooks, predictions, etc. But without the attitude and lack of inhibition, you might be circling down the drain before you can even cast a winning bet. This is to ensure that you won’t end up in debt. Save yourself the embarrassment and be responsible. God knows you need it more than the others do.