This sports betting basics guide is for Australians who know nothing about sports betting. There is a difference between partially about wagering on sports and actually knowing what is involved. We have compiled an informative guide that has everything you require to get started. We cover topics that revolve around the essentials of sports wagering. This includes how to make bets and some useful advice for new players. Soon you will realise that there are benefits that sports wagering offers. Moreover, the pleasant time you can have after you learn the betting basics.
We don’t mind explaining the principles of wagering to you. After you understand sports betting basics you will be betting like a professional punter. As you continue reading, you’ll find the top betting sites. These recommended sites aim to provide you with an unforgettable experience. You don’t have to take our word for it! Go ahead, read about what you can expect below.
Top Sportsbooks for Australians
Sports Betting Basics Explained
We have listed the fundamental things that you have to know about the wager.
- How Sports Betting Works – you don’t want to risk your money without understanding sports betting basics. The three main components a sports wager include making the selection, stakes and the odds.
- How to Make a Bet – After you know your way around how sports betting works, the next step is to make a wager. Also, there are types of wagers that you can select from. There are a variety of ways in which you can do this such as using our betting sites.
- Understand the Odds – there is no way around odds accept that you have to understand how they work. The odds form a vital part of sports betting. Included, are different formats that you should be familiar with. Australia uses the easiest form which is the decimal system. Another huge aspect of wagering is the calculation of your potential outcome.
- Benefits of Sports Betting – as one of the popular forms of gambling, punters can make a reasonable profit from wagering. You can try betting for different reasons like for entertainment, it’s convenient and you have the potential to make a lot of money. While the list is endless, have a look at the benefits of wagering on sport compared to other forms of gambling.
- Probability and Value – probability and value are closely related and the concept of how value is connected to probability is important if you want to be successful. In order to point out good wagering opportunities, you’ll have to pay more attention to value and probability.
- How Sportsbooks Make Money – the purpose of sportsbooks is to make money from the wagering markets that they offer. They use specific methods to get an advantage over their bettors.
Best Sports Betting Tips
Even though things are not going to be perfect the first time, the tips that follow will help you avoid them as much as you can:
- Learn the basics
- Start slowly
- Have realistic expectations
- Make a wager with a clear mind
- Have a bankroll management plan
- Make wagers on a sport you know
- Keep Record
- Use a reputable betting site
- Have fun
Check out the common betting mistakes that we covered on our other page.
Types of Bets
Here are the different types of wagers you can make on a sports competition. When you start off it’s advisable that you understand these wagers to know exactly how to use them.
- Moneyline Betting
- Multi Bets
- Point Spread
- Teasers and Pleasers
The Different Forms of Betting
Although you might not use all these alternative forms of sports wagering for sports events. You can have a glance at them.
- Live Betting
- Exchange Betting
- Spread Betting
- Fantasy Sports Betting
Sports Betting Glossary
As a newcomer, you might have come across terms that you are not sure about. Some terms can be confusing, especially if you are new in the game. We don’t expect you to instantly know everything. You can take your time and learn words and phrases. Anytime you see a term that you are not sure about you can refer back to this guide. Beginners who want to know the ins and outs about what bets entail can use our extensive glossary. The phrases are straightforward and easy to grasp.
Why Give Sports Betting a Chance?
In honesty, there are many reasons for newcomers to engage in sports betting. We mention the top three that no one can miss:
- Sports Betting is Enjoyable – making bets on a sports event is fun and you are filled with the excitement of what the possible outcome will be. There is always a team that you are rooting for. It’s also a way to test your knowledge of sports.
- The Risks of Sports Betting – sports betting is fun but there are also risks that come with wagering. You won’t make the right call all the time and things won’t happen the way you expect. Gambling is all about taking risks, you should be able to accept losing as you do winning. So, gamble responsibly and don’t use money that is not in your budget.
- Beat the Bookmaker – the upper hand that the sportsbooks have are not infeasible to overcome. If you know what you are doing then you can win. A little bit of luck can be involved but much effort comes from understanding sports beyond the basics.
Before you go anywhere with wagering as a newcomer, you must have clear sports betting objectives. People who wager on sports can either be classed as recreational or professional bettors. While recreational players like have fun, some don’t mind making a bit of money. Serious punters make an effort with their bets. They use the strategy because their goal is to make cash. Whichever bettor you choose to be you are guaranteed a good time. For more information have a look at betting for fun vs betting for profit.