Online Sportsbook rules: How does betting online work?
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Passion for soccer but also an expert on most sports markets
Passion for soccer but also an expert on most sports markets
A New York native, Thomas Chambers has had a passion for sports for as long as he can remember. During an eclectic career as a freelance journalist, Thomas has covered all manner of sports – but soccer is his biggest passion. After freelancing for GamblingGuy for several years, we finally convinced him to join us permanently as an editor in 2015. He is an industry-leading expert on everything sports betting.
You no longer have to visit land-based casinos to have fun placing wagers. Online casinos for beginners and experts alike are popping up to allow you to do so from the comfort of your home.
However, you can’t just finish your sportsbook register and start placing bets without previous knowledge of sportsbook rules. Lucky for you, any decent US gambling guide for beginners will answer the burning question – how does betting work?
Today, we’re going through the sportsbook rules from the barest of bones to have gambling explained to you.
Guide To Online Sportsbook Betting Rules: Main Points
Awareness of betting rules is crucial for profitable bets
If you’re considering joining an online operator, you first need to be clear on this question – how does betting work? This knowledge, as well as having sports betting explained to you, are the foundations of understanding the sports betting rules online.
The first thing to consider is the bookmaker and the sportsbook rules they set. They’re the ones who’ll calculate the sports book money lines to determine how likely a result of a game is. They do so by careful statistics analysis, which you’ll need to learn too.
The money lines represent odds – another key concept in sportsbook rules.
In general, the more likely a team is to win, the lower the odds will be for that outcome. For you, this means lower risk and lower payout. Alternatively, you could bet on the underdog and win much more if you get it right.
Striking a balance between risk and reward is finding value in your bets. It’s one of the sportsbook rules we should all follow.
Value is among the most critical factors in deciding whether a wager is worth your money. You calculate it by looking at the teams and players in a match.
The particulars vary from one sport from another, but in general, you’re trying to see whether the odds set by the bookie represent the real possibilities for any outcome.
Here, it’s easy to make the rookie mistake and go for the underdogs because they seem like a better value bet. It’s not always the case, and you should always make informed decisions before placing money. Reading up on a US gambling guide for beginners before you get started will give you the best chances.
Of course, finding value includes some level of prediction of the results. It’s not only predicting the outcomes of a match, either.
Sportsbook rules allow you to place your money on so many types of wagers, but in all cases, you need to do your homework first. That way, you stop relying solely on luck and start becoming a sharp bettor.
Finding the Right Operator
Nowadays, there’s a massive number of bookmakers online looking to lure you in to join. Here, you also need to make smart choices to make the most of it. Here’s what you can do:
1. Find the bookmaker that caters to the betting market in which you want to participate.
2. Look into the bookmaker – are they legal, are they fair, are their offers competitive, do they clearly set out their sportsbook rules?
3. Once you narrow down the list, read real-life reviews of other bettors.
As you can see, another question arises here – which sport interests you? It should be easy to answer, and once you do, learn about betting on that activity – after all, football betting rules are much different than those for tennis.
Types of Sports Bets
As we mentioned earlier, operators offer a vast amount of bets you can make on any event. The sportsbook rules vary for each, and it’s best if you start small, with simple, clean wagers.
Let’s take a look at the three most prominent types:
This one is the most straightforward bet you can make. All you need to do is try to predict which team will win a particular game. The payout stays the same, no matter the runs or points, as long as the outcome is what you predicted.
Point Spread Bets
This type of betting is the most popular for football and basketball, but you can place a point spread bet on other sports, too. The basic idea is to add a handicap to make the game closer to 50/50 odds.
For example, here, the odds for the favorite will come with a minus sign before them and the underdogs with a plus.
If you bet on the favorite and they win by that number of points, you get money. Meanwhile, if the underdog loses by that number of points or less, people who bet on them also win.
That way, you can bet on your favorite team even if you don’t expect them to win.
Totals – Over/Under Bets
When it comes to total bets, the bookmaker will choose a number that represents the entire amount of points scored by both teams during a match. You bet whether the actual number will be over or under that total.
Finally, as not every state has legalized betting on sports online, let’s take a look at where you can play without breaking the law. It’s also important to research gambling winning tax before taking out your winnings!
New Jersey – since June 2018, NJ betting sites have been exploding in popularity. Now, there are 13 of them in total.
Pennsylvania – in May 2019, the first sports betting app went live in PA. Indiana – online sports betting is legal in Indiana since late 2019, and now you can find more than a dozen casinos in the state.
Nevada – here, nothing changed with the new laws. Remember, though, that geolocation will confirm that you’re in Nevada if you want to bet there.
Iowa – since August last year, Iowa has been featuring various names in the sports betting industry. However, you’ll have to visit a land-based casino to sign up before you can bet online.
West Virginia – this state is home to various big names in the industry, including William Hill and BetMGM.
Rhode Island – the only operator you can join from Rhode Island, is William Hill, which partnered with the state lottery to offer sports betting to residents.
Oregon – in cooperation with the state lottery, you can now access the Scoreboard app as the chief option for sports betting in Oregon.
Illinois – if you want to bet online in Illinois, you first have to sign up for an account in person at a casino or a race track. After that, you may manage your activities online.
New Hampshire – this state went for the Draft Kings sportsbook as their primary operator.
Mississippi – although you have to be in a land-based casino to wager on sports in Mississippi, you may do so through mobile, making it a not-as-comfortable alternative.
Michigan – you can’t bet on sports online in Michigan yet, but you will be able to in 2021.
Tennessee – the only type of online gambling you can do in Tennessee is sports betting, which led to many apps going live and exploding in popularity here.
When it comes to other states, it now seems inevitable that they will accept this activity as well. After all, today, close to 90% of the wagers in New Jersey and Pennsylvania, two states with the most popular sportsbooks, are made online.
This development of events is good news for you as a bettor, because sports betting online comes with various perks you wouldn’t get in a brick-and-mortar casino.
Primarily, the massive competition arising has led many online operators to offer lucrative sign-up bonuses – and who doesn’t love some flattery?
Enjoyed This Article? Check Out These Top Strategies & Guides
By now, you should be all clear on the question of – how does sports betting work? So, it’s time to put that knowledge to the test. The best way to do so is by learning the best betting strategies to ensure you win.
Another thing that could enhance your experience is the generosity of the offers by many online sportsbooks. Their bonuses can make your wagers that much more profitable.
We hope that our guide answered the question of how does betting work and clarified sportsbook rules for you.
Remember, you don’t have to know everything, but every piece of information you do acquire makes you a better bettor. So, if you ever wondered, how do sportsbooks make money, read about that.
From value bet tips to gambling winning tax and sports betting point spreads explained, the information is out there. Use this ‘how does betting work guide’ as a starting point and hone your skills to perfection.
Then, make sure that you’re of legal gambling age, before you join a website you like best and start winning.