Since the last quarter of 2021, Arizona residents have been able to bet on sports games. If you’re on this page, you’ve most likely gotten attracted by the advertisements of Arizona online sportsbooks seen on billboards and TVs.
Wagering your money on sporting events and winning takes some skill, and the best way to build that skill is to understand the basics of sports betting. Sports Bettors need to learn numerous terms about sports betting. They also need to improve their winning mentality before delving into online sports gambling. That’s why you need a starter pack to build knowledge on sports betting.
This article will unveil the golden rules associated with staking in sports.
The Two Crucial Values of Sports Betting
1. Vegas Doesn’t Thrive on Winning Bettors
The best instance of betting is the home of conventional gambling, Las Vegas. You need to understand that the city’s success wasn’t built off winning gamblers. Gambling is a zero-sum game. The beautiful buildings, the shiny lights, and the overall success of Vegas depict the fact that lots of bettors have lost there.
When you take this mentality back to sports betting, you’ll understand if you make losses on some bets. The most significant factor influencing losses is when players expect to win big amounts of money on most bets. Greed is responsible for bringing many players down. Players should avoid it at all costs.
Another cause of consistent losses is when you’re trying to take revenge on the bookmaker. If you lose, take it as part of the game and keep on improving your gambling strategy
2. Don’t Bet an Amount that’ll Wreck your Purse
When you bet a lot of money on a sporting event, you unconsciously invite stress. On the other hand, taking sports betting as a hobby is the way to go. Seeing betting as a fun venture will allow you to develop the mentality of staking what you can afford to lose.
If you’re not comfortable with the staking amount, keep cutting it until you don’t feel anxious about betting the sum. Combining these golden rules with tested sports betting strategies will ensure you win in the long run.
Most Popular Sports Betting Terms
1. Betting Odds
Betting odds is one of the most popular sports betting terms. They show the probability of a sporting event happening. Teams have their odds displayed next to their names. Odds with a (-) sign displayed next to them means the event may likely occur. Odds with a (+) sign next to them mean the event is less likely to happen. Betting odds are calculated by mathematical and statistical methods.
Odds also show how much you can potentially win on a bet. If the odds show (-300), it means you’ll have to bet $300 to win $100. On the other hand, if the odds show (+300), it means you’ll have to bet $100 to win $300.
When combining multiple bets under different bet markets, you might see odds in decimal places like 1.20, 3.10, 2.23, etc. Odds of 1.20 mean that with a $100 bet on that event, you’ll win $120 if your predictions were correct.
2. Points Spread
Point spreads refer to the number of points the team you picked must win for your prediction to be correct. For instance, if you bet on a team favored by 9.5 points, they need to win by at least 10 points for your prediction to be correct.
3. Future Bets
While most people bet on games that occur in a few days or weeks, some like to bet on events that happen during the middle or end of the season. For instance, you can bet on a player who you think will win the Basketball MVP award, the team to win the NFL season, etc.
If you think your prediction will be correct in multiple games, you can take a parlay. It’s a system of combining bets into one wager. Since the odds get accumulated, your predictions becoming successful will lead you to get a bigger payout. On the other hand, a single loss can ruin all of the games in the parlay.
5. Prop Bets
Prop bets are bets made for fun since they are contingent on individual events that occur during a game. You can predict how many points a player can score or the number of minutes a player will spend on the playing field.
6. Live Bets
Live betting allows players to make bets during the game. The odds, however, change constantly during the course of the game. If a team is losing badly, its odds to win will increase exponentially. On the other hand, if a team is winning by a wide margin, their odds to win are dramatically reduced.
The legalization of sports betting in Arizona has driven many people to try their hands at gambling. If you want to start betting, you need to understand that you won’t always win your bets. It would help if you also rationed the amounts you bet to what you can afford to lose.
Being new to sports betting requires learning terms like prop bets, live bets, odds, points spreads, and futures bets. Getting familiar with these terms will ease your introduction into the world of sports gambling.