Introduction to Sports Betting
With the rapid expansion of online betting platforms, online sports betting has become readily accessible. Its evolution since the turn of the century has seen new features like live betting and mobile betting become the norm, with expansive sportsbooks covering a vast number of sports and competitions.
With so much choice, it’s good to get a strong knowledge of odds and how to enhance the experience with betting strategies.
Popular Sports for Online Betting
Bet on the sport that you know and love. That way, if you are watching weekly Premier League matches, for example, you have a good working knowledge of the league, which is a great base for betting.
Football (Soccer)
Football is one of the most heavily supported sports on the planet, so the demand for football betting on competitions from around the world is extremely high. Among the leading competitions at club level are the Premier League, La Liga, and the UEFA Champions League. At the elite international level it is the European Championships, Africa Cup of Nations, Copa América and the FIFA World Cup.
Cricket
There’s something special about test match cricket, especially for big meetings like the Ashes when England meet Australia. It’s the top format of the sport, while the IPL in India delivers the biggest and best Twenty20 club cricket in the world. The T20 World Cup and the ICC Cricket World Cup are international highlights, and there is a huge amount of betting markets for cricket, ranging from match outrights to batsman runs and innings scores.
Tennis:
The four Grand Slam events, the Australian Open, French Open, Wimbledon, and the US Open sit at the top of tennis betting. They are when public interest in the sport reaches peak levels, but there are plenty of weekly tournaments at different tiers of the ATP and WTA Tours throughout the year for bets like set handicap, correct score, and total games.
MMA (Mixed Martial Arts):
The UFC has put MMA in the spotlight since it was founded in the mid-90s, creating superstars with popularity that rival stars in any sport. The UFC is fierce and unpredictable, making it a popular sport for betting, with underdogs carrying the potential for some knockout returns. More on MMA betting here >>>
Rugby:
The heavy-hitting, thrilling rugby action is still enormously popular. From the international highlights of the Six Nations and Rugby World Cup, to an array of club competitions like the Premiership and Champions Cup, there’s great variety in the sport. Rugby betting markets like winning margin, to win first half, handicaps, and try scorer bets can be found at all levels.
Horse Racing:
If one sport is synonymous with sports betting, it’s horse racing. From the Cheltenham Festival to Royal Ascot, the Kentucky Derby, and the Prix de l’Arc de Triomphe, racing is hugely popular, with statistics-minded punters looking for win, place, and show bets, accumulators, and more.
Golf:
Golf tournament betting can be tricky because of a starting field of more than 100 players. But as the field starts to take shape, it opens the door to bets like the player to win the current round, or to miss the cut. A tournament can also be broken down into bite-sized bets like head-to-head matches and three-balls.
Ice Hockey:
The NHL is the biggest hockey league in the world and home of the famous Stanley Cup. There’s a long regular season of more than 80 games for teams and even more work for those who qualify for the playoffs. Popular ice hockey markets are the puck line, over/under total goals, and moneyline.
Betting Strategies
A strategy is a plan of what particular bets to make and at what odds. Here are the most important elements of controlling your strategy.
Bankroll Management:
Your bankroll is what funds you have to bet with and it is important to plan bets accordingly to deter risky wagers with money you can’t afford to lose.
Research and Analysis:
A bet should only be placed after extensive research into form and statistics. Research helps to spot trends from historical data, like the number of goals a team scores at home on average, or spotting a tennis player coming into a hot run of form.
Understanding Odds:
It’s imperative to understand odds as they represent risk, and that needs to be comprehended for value to be assessed. Odds come in three main formats:
- Fractional: The standard in UK betting, with options like 5/4 and 3/1. The first number is how much will be won if the second number is the stake.
- Decimal: Presented as odds like 2.18 and 1.80. Simply multiply the odds by the stake to calculate the return, including the stake.
- American: Odds on the moneyline are presented as +180 or -210. The minus signifies the favourite and is how much is needed as a stake to win 100. A positive figure denotes how much will be won from a 100 stake.
Value Betting:
If after looking at stats you expect to see a team listed at 2.05 decimal to win, but a bookmaker has them at 2.15, that’s a value bet. It’s where odds essentially exceed the implied probability.
Martingale System:
With the Martingale system, the stake is increased after each loss. Eventually, when a win hits, it should cover all the previous losses. The pitfall of systems like this is that they assume a very large initial bankroll to cover losing streaks.
Fading the Public:
All markets are swayed by public interest, especially on big events like the World Cup Final, when casual bettors are more likely to bet too. But if there is a rush of betting on Brazil to win the World Cup Final, that will see their price shorten, so it could be a good time to analyse going against public sentiment for better odds.
Line Shopping:
To get the best odds as often as possible, compare prices at different bookmakers instead of just taking the first odds you see.
Conclusion
Build a foundation of odds-knowledge and always research statistics for effective betting. Stick to one or two favourite sports to stay focused, and the best betting strategy is one built from experience.
Settle on one or two key markets and combine knowledge and odds to help push towards value bets. Explore the top online sportsbooks to find the best prices and always maintain control of your betting budget.