Online Sports Betting Basics

November 14, 2009

When wanting to place bets on your favorite sport or team online the task can seem a bit overwhelming when attempting to do so for the very first time. This is because there are so many different terms to know and types of bets that can be made that just leave most newcomers to wonder where to start first.

To counter this and help newcomers get off to a solid and positive head start in their new venture in sportsbetting, we have listed some of the basics that all new bettors should know and understand prior to making that first bet online.

Online Sportsbetting Basics

Now, understanding the basics of sportsbetting online really comes down to having an understanding of all the different terms that regulars use and all the different bets that can be made. Here is a list of all of the most important ones that you should be familiar with.

Juice/Vigor: Juice and Vigor are other words for the ‘commission’ that a bookie or sportsbook sites makes.

Spread: A ’spread’ is used for higher scoring games such as football or basketball. Typically in a spread, one team is usually a favorite to win by so many points. If a bettor were to make a bet on the team that is favorite to win, then for them to win their bet that team would have to beat the underdog by at least as many points listed. For example, if the New England Patriots were a favorite to win by 7 points over the Dallas Cowboys, the spread would look like this: NE Patriots -7 Dallas Cowboys +7. The Patriots would have to beat the Cowboys by 8 points for bettors to win or at least by 7 for all bets to push (tie). Bets made on the underdog or in this case the Dallas Cowboys will win if Dallas manages to lose by less than 6 points or outright win the game.

Money Line: The money line is used for all sports but is generally used for lower scoring games such as baseball, soccer, etc. These are generally shown as a decimal but at times the decimal can be left out or a fraction used instead. These will also be shown as a negative for the favorite and as a positive for the underdog and is normally what someone would expect to pay to win $100 (or equivalent).

For example, if the NY Yankees were the favorite in the World Series against the Phillies, then the money line might look something like NY Yankees -1.50 | Philadelphia Phillies +130. What this means is that if you place a bet on the Yankees, you will be paying $150 to win $100 since they’re a favorite to win. If you bet on the Phillies, you will be paying $100 to potentially win $150 since they’re the underdogs. Of course if you bet less, then the money line will be in proportion to what you bet.

Usually, there is only a difference of ‘20′ between the favorite and the underdog which tends to serve as the bookie’s ‘juice’ or ‘vigor.’ At times however, bookies will offer what they call a ‘dime line’ which is half the ‘juice’ or only ‘10′ for a commission.
Parlays: Parlay bets are generally bets on a combination of games. In many cases, the minimum is 2 different games and the maximum is 5. In the event that any one game loses, the whole Parlay bet is a loser. Odds are better in Parlays because of the amount of games being wagered on.

Straight Bet: Just as it sounds, a straight bet is a simple bet on who will win the game outright. As explained above in the money line section, these bets are generally a $110 or $120 wager to win $100. Or in the case of an underdog, a $100 bet to win whatever the positive amount is; for example, a +150 would be a $150 win for $100 wagered.

Teaser Bets: A Teaser bet is similar to a parlay except the betting line is generally moved in your favor. For example, if the line is -4 and your Teaser is -2, then the line would actually be -2. In a Teaser bettors cannot mix sports since each Teaser would be different and similar to a Parlay, all teams would have to win for the Teaser to be a winner.

Over/Under: Over/Under bets are bets that are made on the final outcome of the combined score of the two teams. For example, if it is said that the combined score of two teams in a football game would be 40 points, you can than make an ‘under’ bet with the thought that the score would actually be less or you can bet an ‘over’ bet thinking that the combined score will be higher.

Other kinds of bets can also be made depending on the kind of game you’re wagering on. Bets can be made on the outcome of each quarter or half, what play a team makes to make the first set of points or even the outcome of MVP for the league or various positions in a sport. As you can probably imagine, the possibilities are endless.

Basics of Betting Online

While there are several other kinds of bets that can be made online, those are the most common and the ones that newer sportsbetting enthusiasts will want to focus on using.

Now, once you have an understanding of what all the different kinds of bets are, than it’s time to pick a sport and then a team to wager on. How this is done will vary from site to site, but generally is self-explanatory. The site you are wagering at will have a list of each upcoming game under each sport with the line that is being offered. Simply check the team you want to wager on in each game and hit ‘confirm’ and your bet should be placed. In the event that it is much harder than what we have made it out to be to place a bet at the site of your choice, be sure to check out that site’s FAQ’s page as many sites have video or article tutorials explaining how to place wagers.

Written by Rob · Filed Under Online Betting Guides