Sports betting made easy
With the worldwide spread of the internet, the sports betting industry has seen a rapid growth in popularity. This expansion has primarily been driven by improved internet access, increased smart phone use, better technology, and a change in nations gaming regulations.
A recent report estimated that the Global Online Gambling Market will exceed revenues of over $153 billion by 2028, up from $73 billion in 2021. The UK is currently the largest and most successful online betting market in the world, with the country spending over $16 billion on online betting in 2021.
UK Online Sports Betting
There are many reputable gambling providers in the UK, offering a wide variety of online bets to their customers. Sports covered include, horse racing, soccer, NFL, NHL, NBA, Motor Racing, rugby, cricket, golf and many more.
The main reason the UK is a world leader in the online gambling market is thanks to their regulation of gambling, which has created lots of legal and safe options for players to choose from. This combined with the proliferation of smart phones and widespread internet use, has seen the UK online gambling market increase 32% in the past 2 years alone.
US Online Sports Betting
Since the Supreme Court ruling in 2018 ended federal bans on the industry’s expansion, multiple states have legalised online sports betting. However, Minnesota is not one of them – yet.
For the last three years lawmakers have explored legalising Minnesota sports betting, but an agreement could not be reached. Meaning the state will have to wait for at least another year before legalised sports betting can finally become a reality.
If you are lucky enough to be living in a country or state with legal sports betting laws, here’s our beginners guide to sports betting.
With multiple online sportsbooks to choose from, it’s important to choose a reputable operator that will guarantee your financial and personal details remain safe. Other key factors to look out for are:
- 24/7 Customer Support
- Multiple deposit and withdrawal methods
- Wide variety of betting options
- Multiple sports covered
- Smooth User Interface
Once you’d made your decision, follow the simple sign-up process and you’re good to go.
It’s important to set yourself a bankroll that you can afford to lose. That way all your gaming is budgeted, stress free, and more importantly, fun. So, before you start, make sure you set your bankroll and stick to it.
Odds indicate how much risk and potential reward a bet gives you and will therefore help you decide if a bet has value, and if it is worth putting your money on.
American betting odds are displayed with a + or – next to a number. A negative number before a betting line means that player or team is the favourite. The negative number indicates how much you would need to bet to win $100.
A positive number before a betting line means that player or team is the underdog. The number determines the amount of money you would win if you were to bet $100.
Kansas City Chiefs: -110.
Los Angeles Raiders: +150
If you bet $100 on the Raiders at +150 and they win the game, you would win $150 plus your original stake. However, if you bet $100 on the Chiefs -110 and they win, you would bank $90.91 plus your stake.
Common Bet Types
Now you’ve signed up, set your bankroll and you understand the odds, it’s time to place a bet. For beginners it’s a good idea to stick to the simpler markets listed below, while you build your confidence and experience.
Single-game bets are the most common wager type. It is a bet on a team or person to win a sporting event outright. All you have to do is pick who you think will win the match.
These wagers are easy to make and simple to understand which makes them a great first time bet for beginners.
These are bets that can be placed on upcoming sporting events, such as the winner of the Super Bowl, MVP, The Masters or The World Series. They are typically placed before the season starts as this will potentially mean better odds, however they can be placed all season long but the odds will change.
Futures are another simple, easy to understand bet, and they offer bettors long term interest in a season, rather than a one-off game.
Prop bets or proposition bets are a wager placed on a particular event happening during the game. This could be in the form of a players NFL receptions, touchdowns or rushing yards. Or it could be on a team to win by a certain margin.
The great thing about props is that they offer bettors excitement right up until the end of the game, because the wager is not about who wins the match – which can sometimes be a foregone conclusion even before the game has started.
Prop bets also offer higher potential payouts because they are less likely to happen.
Parlay bets are a way of tying two or more bets – or ‘legs’ – together on the same ticket in order to create a larger bet. This is a risky wager as it requires multiple outcomes to go your way, but the increased risk means the potential payouts are a lot higher.
Parlays are for more experienced bettors who have done their research and understand the odds. Remember, all the legs need to win or you lose the bet.
The Future of Sports Betting
As revenues increase and the popularity of sports betting continues to grow, experts expect gaming laws to eventually change across the U.S. allowing online sports betting for all. That trend is expected to be reflected worldwide as nations seek to benefit from the extra income that betting provides.
Coupled with advances in technology, better and faster internet availability, and a growing variety of betting markets, the future of sports betting looks set to continue its rapid rise.