Top 10 Frequently Asked Questions On Sports Betting Online in 2020
Sports betting online is currently the most popular way to bet. People are betting through this way now more than ever. As a result, there are interests in online sports betting has been increased. So, people have various questions about it. Here, we will discuss the top 10 frequently asked questions on sports betting online. Hope, it will feed the appetite of the betters.
Top 10 Frequently Asked Questions On Sports Betting Online:
Here are the lists of top 10 sports betting questions.
- What actually the odds?
- How you read the odds?
- Why do odds matter in sports betting?
- What is spread?
- What is a parlay?
- How future bets will look?
- Which type of bonuses online betting sites offer?
- What is the safety and security of online betting sites?
- What are the rules and regulations of online betting sites?
- How are the common sports betting tactics gonna look?
Now, we are going to arrange a vivid discussion Online Sports Betting FAQ – Answers to Important Questions.
1. What actually the odds?
If you have a bit of idea about odds, then you must’ve seen that there are strange-looking numbers linked to team names and player names at the sportsbooks. They’re called odds. Moreover, the looking of these odds is different too. For instance, there are three types of odds – American odds, Fractional odds, and Decimal odds. However, they have one thing in common. This is they always suggest two things. One is the implied probability of the result they cling to and another is what amount of money you stand to win by betting on that same result.
American odds are like – +128
Fractional odds are like – 3/4
Decimal odds are like – 4.00
In a simple word, odds mean probability or chances of an event to happen. Odds are ratios of a player’s chances of losing to his or her chances of winning, or the average frequency of a loss to the average frequency of a win.
On the other hand, every odds we’ve shown above showed a 33 percent implied probability. But, they’ve revealed it just in a different way. That’s it.
Furthermore, it doesn’t matter which type of odds you’re looking for. All of them actually represent you with the same result. There will be no difference in the payout at all.
2. How you read the odds?
We’ve already said that there are three popular odds formats –
- American odds
- Decimal odds
- Fractional odds
American odds are used inside the US while Decimal and Fractional odds are highly used in regions like Canada, Europe, and Australian continents. When you see a plus (+) or minus (-) sign before a number, you should know that you’re now dealing with the American odds. American odds are presented as either positive or negative odds and consists of three numbers. These numbers are the indicator of what amount you’d win if you placed a $200 wager(if the odds are positive). On the other hand, they are the indicator of what amount you’d have to wager to win $200(if the odds are negative).
For instance, if you see +230 odds, that means that you’d win $230 on a $230 bet. If you see -230 odds, that means you’d have to wager $230 to win $230, and by and by.
If you see a “+” sign in a two-team game, this proclaims the underdog, which depicts longer odds. Besides, if you see a “-” it signifies the favorite team.
Furthermore, Fractional odds are used mainly in parts of Europe, Australia as well as in horseracing. Fractional odds contain fractional numbers. In order to calculate the fractional odds, you have to do some mental division. Moreover, you can also enter your coveted amount and check what the sportsbook shows as your payout!
Moreover, Decimal odds are used more commonly in parts of Europe. During using decimal odds, the underdog contains the higher of the two numbers. But, the favorite contains the lower of the two numbers usually. If you want to calculate the decimal odds, we are recommending you to use the following equation –
Return = Initial Wager x Decimal Value
Additionally, American odds are always almost showed inside of the USA while the Decimal and Fractional can be seen in the EU, Canada, and Australian continents.
3. Why do odds have a place in sports betting?
The odds are very important during selecting a sportsbook. The reason is they have an influence on your money. If you choose a sportsbook with poor odds, there’s basically a little way you’ll emerge as victorious. As long as you don’t change your strategy, you’ll keep losing.
4. What means Spread?
In a professional sports matchup, a point spread is given to both teams for sports betting reasons. A point spread means that the number of points that a powerful team is expected to beat a weaker team by. On the other hand, it also means the number of points that a powerful team gonna believe a weaker team will lose by. The whole thing is orchestrated behind the closed doors by the betting sites. It generally differs from sportsbook to sportsbook.
When a negative point spread is given to a team, it means they are favorite to win the game. When a positive point spread is given to a team, it means they are definitely not the fav to win.
For example, if the LA Lakers are minus two (-2) against the Chicago Bulls (+2), then it is expected that the LA Lakers will win the game and that Chicago Bulls will lose.
5. What is a parlay?
A parlay is any bet that is hinging on more than one outcome. Besides, a parlay bet is a group of spread, Moneyline, or total bets merged into one bet to extension the payout odds. A parlay lets bettors customize and merge single, individual bets into one single bet. In order to win a parlay, each separate bet has to successful. On the other hand, Parlay odds offer bigger payouts than normal odds. The main reason is they’re very risky as every single bettor has to win in here.
If you predict a single outcome in the wrong way, you won’t be cashing in your parlay indeed.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -230 odds, where a bet of $230 wins you $220.
Moreover, there’s a limit to how many bets you can merge in a single parlay. This matter actually depends on the sportsbook you’re currently using to bet. But, one thing never hopes to be able to add more than 12-15 single bets in a single parlay.
6. How futures bets will look?
Sports betting isn’t too hard a thing. Moreover, that’s very much the case with a futures bet. This kind of wager is one of the first wagers that many newcomers make when those new bettors first make a step to the sports betting world.
It is expected that futures bets will help bettors to bet on championships of various leagues, division titles, professional functions long before they’re awarded. This is completely different than a wager at the end result of a single game. But, popularity is no less for sure. Moreover, Futures bets grant a bettor the ability to have money at risk for a couple of games without having to spend time examining each of the single games.
For instance, New York Jets supporters have the luxury to put a $10 wager on the Jets to win the Super Bowl at 80-1 odds (+8000) in a New Jersey casino. A winning result would pay the gambler $800 for the wager that will last from the first game of the season to the final play of the Big Match.
7. Which type of bonuses online betting sites offer?
Sports betting bonuses are actually the promotional campaigns of online bookmakers. They usually do it to attract new customers to their site. So, this is kind of a marketing strategy in disguise.
Additionally, most of the time the bookmakers offer a “free money” deposit. The deposit goes into your account balance when you complete your registration at their site and deposit your first money in their account.
However, as the betting sites are increased so much in recent years, bookmakers take a smarter way to offer bonuses. They offer free bets, money back offers, sign up offers, etc. They could also offer special bonuses if a bettor recommends them to the bettor’s friends or family. But, one thing is those offers are not totally free and they consist of certain TOC (Terms of Conditions).
8. What is the safety and security of online betting sites?
Before saying anything, we want to tell you that you should use your brain on this matter more. Just research and research. See what type of bookmakers are exists and use your intuition when selecting a perfect bookmaker for you. There are a lot of bookmakers available around the world. You can choose any one of them. They are damn safe and secured for transferring money.
At first, check whether the company has a valid license to operate its business. See whether it verifies your identity during verification or registration. This is a very basic thing for security measurement.
Your sportsbook has SSL (Secure Sockets Layer) protection so your sensitive personal information isn’t at risk for third-party infringement. Another thing is to take a close look for https:// at the beginning of the web address, as well as a “locked” icon when you’re browsing.
Furthermore, you can understand also by seeing their interface. Most of the top bookmakers have top-level web designers and developers. Besides, the FAQ of them, or user certificate could also be helpful for you.
9. What are the rules and regulations of online betting sites?
As it is entirely a money-related industry, it is unimaginable that there won’t be any rules and regulations. Of course, it possesses many rules than any other industry cuz betting is still not a good thing in the eyes of most people and most countries. So, there are various regulations and rules are available for it. However, the rules and regulations vary from country to country or region to region.
As a result, you have to learn what your region or your country is saying about the betting rules and regulations.
10. How are the common sports betting tactics gonna look?
Sports betting tactics run the spectrum. There’s an uncountable different type of strategy that professional gamblers deploy. But, one thing is most of the strength in this sector still lies in your intuition about the sports and knowledge about the game. Try to manage your money correctly.
But, the most important thing is to do your homework. Nothing better than that. Research the past stats, past game, make a comparison between the two teams and two teams players, see the result of their head to head, create sports betting systems. All these things will increase your intuitiveness on the betting and helps you to become a professional gambler.
There are also some introductory tactics. For instance, you can create multiple accounts at so many sportsbooks. The reason is that you have the opportunity to find the odds that offer you the most potential for profit. This strategy is known as line shopping. It is a great strategy indeed.
For example, if you are looking to bet on the Dallas Cowboys on a 9 point spread, you would want to check multiple different sportsbooks to see if any of them are offering the Cowboys at 7.5 points, or at the very least find the best price you can get them at 8 points at. Over the course of a sports betting season, you can win yourself a lot of money from shopping the lines that would otherwise not be one.
Lastly, you must stop buying points too.
In addition, these are the online sports betting FAQ – answers to important questions. We are hoping that our article will help you to increase your knowledge about the betting world. Feel free to share your opinion or you can ask any question in the comment section.