Updated 8:44 AM EDT, Wed, Aug 18, 2021

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The Beginner's Guide to Sports Betting

Sports betting has taken over the gambling industry. Today, you have millions of punters placing wagers daily. 

However, if you are looking to get started, it's normal to have a few questions. This guide is sure to help you get started on a rewarding betting career online. Before you get started betting on the site, we recommend you reading this guide first.

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#1. Understand How it Works 

For some sports, betting can seem a bit hard. Thankfully, the mechanics are straightforward because, in all sports sites, they are all the same. For instance, if you are a newbie there are three components that you should know:

  1. Selection- Choose what you are going to bet on. For example, in football, you can bet on the English Premier League or the Bundesliga. 

  2. Stake- This refers to how much money you can bet. For instance, you can choose between waging $10 or $50. 

  3. Odds- Odds refer to the likelihood of something to happen.  Bookmarkers , like betway98,  will pay you more if something is less likely to occur. Some of the odds that you will come across include; fractional odds, money line, and point spreads. 

#2. Understanding the odds. 

How many players are putting their bets on it? Are you going to win at the slot machine?

Developing your game sense is related to understanding the odds. Here is why it matters.

  1. Odds are used to calculate the payouts. When you are betting, you have availed odds, which will calculate your payout. However, different bookmakers can have the same odds, but they have varied payouts. 

  2. Odds also predict the likelihood or unlikelihood if something to occur. 

Here are the different types of odds you need to know about.

  1. Moneyline-  These odds are also called American odds. In this case, if you wager a $100, then a positive number means how much more you would win. On the other hand, if it's a negative number, it means what you need to wager so that you can win the $100. 

  2. Decimal odds- They are the most common types of odds for bookmarkers. For instance, 2.5 odds would win you $2.5 for every $1 you place. 

  3. Fractional odds- These odds indicate how much profit you earn when you wage. For instance, a 3/1 odds means that you win three units for every one group you wager. 

#3. Be realistic

Sports betting is two-way traffic - you can either lose or win. It can be enticing to take sports betting as a full-time job, but it can be hard making a living from it. Although there are professional punters who have made sports betting a full-time job, it is good to know that they also lose. 

Every time that you place a bet, be realistic. As a beginner, know how betting works. It's going to help you avoid losses, and bet the right way to maximize gains.

It can take a while to get started with betting - especially with the many rules out there for each game -  so it's important to take it slow in the beginning. Testing the waters out first isn't a bad idea. 

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