Online betting can be really fun, but for people trying to bet online for the first time, it may look daunting, but it’s relatively easy to get into once you give it a try. If you’re afraid of diving deep into online betting without first having some basic know-how, don’t worry, we’ve got you covered.
In this article, we will help you go over some of the details of online betting. We will mostly stick to the basics which help you get off the ground, and set you up for your initial betting days. We think that once you get a grip on the basics, understanding the whole concept of betting online is straightforward.
Let’s get started, and break down online sports betting websites in more detail.
Where do you bet online?
First and foremost, you need to find an online betting website that is certified and legal. What you shouldn’t do under any circumstances, is bet with a sportsbook that is not legal, and not legally registered. Most sports betting sites in Australia are legal, but double check just in case.
This can lead to a plethora of problems down the line, and not getting any of the money you can potentially win betting is one of them. Before deciding to spend money on online betting, make sure to read reviews of the online website you want to bet on.
For a safer experience, it would be wisest to look for a sportsbook that has been around for a while. Older more reputable online betting websites have a better chance of paying your money on time and help you out if you get stuck anywhere in your betting process.
How to place your first bet?
To begin betting the first thing you will need to do is register an account on the betting website. This process is fairly simple. All you need to do is locate the “Register” or “Sign Up” button on the website, and start the registration process.
You will need to provide some basic information about yourself, that will allow your account to be verified. To withdraw your money you will need to upload a photo of an ID or driver’s license so that the betting website can be sure you are the person they are sending money to.
Once you pick your deposit method you will be able to place bets on any sports match available on the website and hope for the best. You can bet on anything you want, soccer, basketball, NFL and even horse racing. If you have a favorite football team, or a player that recently started playing for a team you like, that is a good wager.
How are odds determined?
Odds are an integral part of any sports betting shop, online and offline. By learning how to read the odds you will know how to place better bets, and how well a team is expected to perform during their match.
An odd is simply the probability of an event happening. However, always keep in mind that the odds aren’t made so that you can make a profit, they are made to protect the sportsbook’s margins. It might take you a while before you start to better understand the odds, but this is normal.
The potential payout also depends on the odds. If the odds for a team are higher, it means that the team for which the odds are higher has less chance of winning. Therefore, the payout for that result happening is also higher, because the event is less likely to transpire.
A team for which the odds are lower has a higher chance of winning. This is generally considered a safer bet, and that’s why the potential payout is a lot lower as well.
What are the different bet types?
There are different bet types, and here we’ll take a look at some basic ones. Line or Handicap betting is when a match is handicapped by the bookmaker and you need to bet that the team deemed to win by 6.0 points, you will need to place a wager higher than 6.0 points.
Margin betting is when you pick the winning margin on a game played between two teams. If a draw option is listed by the sportsbook, any extra time played will be included in the bet. A MultiBet is a selection of several single bets, which have a multiplying effect on your bet.
This is also known as All Up or Parlay.