Gaming / How Do You Bet on Sports Online?

How Do You Bet on Sports Online?

Updated on November 14, 2022 | by Vedwik

sports online bet

Four years after SCOTUS made it legal for states to legislate for sports betting in their jurisdictions, thirty-one states have legal, operational sports betting and another five are in the process of creating a regulatory framework to get started. Of those states where sports betting is legal, the majority of jurisdictions give bettors the option to place their wagers at an online sportsbook.

The policies and procedures in each state, and within each sportsbook, differ. Not all sportsbooks offer betting options for all sports and in some states, there is no option to place a bet on college sports. Some sportsbooks have relationships with specific leagues, teams or retail casinos and in some states, you need to register in person at a retail casino in order to vote at the casino-affiliated online sportsbook.

The Grande Vegas online casino USA offers a guide for bettors who want to wager online.

Choose a Sportsbook

The first thing that you need to do when preparing to place a sports bet is to decide what you’re looking for. Do you want to bet on college games? Not every online sportsbook offers that option so check before you sign up. Do you want a sportsbook with high limits? Prop bets? Top payouts? Specific sports? (not all sportsbooks cover all sports).

Number of games for each sport? Look at several sportsbooks to determine which offers the features that you need. You can find a sportsbook ranking page where you’ll find descriptions of each of the sportsbooks and sportsbook reviews pages where other bettors submit their thoughts about the various online betting options.

Test the sites out. Click around the different sections to find a sportsbook that gives you easy navigation and a smooth interface. If you prefer to make your bets well in advance of the game, review the sportsbook to make sure that you can do that. In fact, it’s generally a good idea to get the lines early in the week so do your research to make sure that that’s an option.

If you’re a mobile user (and most bettors are these days) you’ll want to make sure that the sportsbook has a mobile betting option. We’re not talking about a standalone app that has to be downloaded but rather, about a mobile-friendly website that you can use on any device.

The most successful sports bettors are those who keep up with all the latest information about their leagues, their teams and their favorite players. Some sportsbooks have established relationships with specific teams and leagues which means that they get the official data which they then display on their sites.

For instance, DraftKings is partnered with the New York Giants (NFL), the Indiana Pacers (NBA) and the Colorado Rockies (MLB). FanDuel partners with the Denver Broncos (NFL) and the New Jersey Devils (NHL).  PointsBet is an official partner of the Colorado Avalanche (NHL), the Chicago Bears (NFL) and the Detroit Tigers (MLB).

Finally, if you want to try something really exciting, check to see whether the sportsbook offers live betting. In-game betting involves placing wagers during the game or match while the action is happening. Sometimes you can make a bet on every play and sometimes there are certain periods throughout the match when you can place your bets.

Live betting is the latest in online betting. It involves quick changes of the odds and super-fast action so you have to be ready to jump at a moment’s notice.

If you’re a beginner, live betting isn’t a good option for you but if you see yourselves getting into it down the road, you might want to choose a sportsbook that will give you live betting when you’re ready to get involved.

Deposits and Payouts

To make your sportsbook deposits and receive your winning payouts, you’ll need to link an online payment method to your sportsbook account. These transactions can be made using transfers of funds from your personal bank account, a credit or debit card or by crypto.

You’ll need to make sure that the sportsbook that you choose supports the type of online money transfers that you want to use to fund your account. You may want to fund your account with a significant sum and then draw from that sum for individual bets or you can transfer money for each individual bet as you place your wager.

If you’re planning on live betting you will probably want to have a sum of money sitting in your sportsbook account so that you can make your wagers quickly.

In any case, you should review the sportsbook’s banking protocols before you make your choice of where to open your account. How long does the sportsbook take to pay you? Do they accept crypto? Do they limit the amount of your winnings that you can withdraw at any one time? Is there a minimum cash-out? Does the sportsbook charge fees? Are there fees for currency transfer if you’re going to be betting or withdrawing in a foreign currency? Are the eBanks with which they interface reliable?

Getting Started

Once you choose your online sportsbook, you’re ready to place your first bet. To place a bet:

  1. Go onto the site and navigate to your desired sport and game.
  2. Choose your bet type.
  3. Click “bet cell”.
  4. Once the bet populates in your bet slip, enter your bet amount.
  5. Click “submit” to enter your bet.

Some of the terms that you should learn before you start betting include:

  • Point Spread — betting on the margin of victory. By how many points will the victorious team win?
  • Moneylines – picking the winner of the game – i.e. you choose either the Bears or the Lions.
  • Over/Unders – the “Totals” involves the total number of points scored as set by oddsmakers for both teams combined. You bet on whether or not the game will go under or over the total.
  • Favorites vs. Underdogs – Bets based on what the oddsmakers estimate the odds are of each team winning or losing.
  • Parlay Bets – Linking two or more bets together. Both bets must succeed to win the total payout.
  • Props Bets – bets on events that may occur during the game – how many saves a specific player will make, which team will get the first basket of the game, etc.

Budget

Before you start betting, be sure that you set your budget. That should be the maximum amount of money that you have to devote to betting entertainment. You should train yourself from the beginning to never exceed that amount, even if you feel that you’re on a winning streak or that the next bet is “bound to win.”




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