How to Bet on Sports Online – Complete Guide

How to Bet Online: Core Knowledge

Before you place your first bet, remember: there’s no free play money to test the waters. It’s crucial to learn the basics and understand how things operate on a gambling site. 

Know the Types of Online Wagers  

Thinking betting’s all about picking winners? That’s just scratching the surface. As you dive into different sports, you’ll encounter a variety of bet types, such as:

• Point Spread: Bet on the favorite (e.g., -7.5) to win by more than the spread or on the underdog (+7.5) to lose by less than the spread or win outright.
• Totals (Over/Under): A wager on whether the score will be over or under a specified amount.
• Prop Bets (Proposition Bets): These bets are made on specific events within a game or competition that are not directly tied to the outcome, like betting on which player will score first or how many strikeouts a pitcher will throw.
• Parlays: A combination bet that links together multiple wagers (two or more) and requires all of them to win for the parlay to pay off.

Learn How to Read Sports Betting Odds

Sports betting sites often feature options to switch between fractional, decimal, and American odds. 

American Odds – As the name suggests, American odds are the most common in the US. You’ll see underdogs marked with a plus sign, such as +225, meaning a $100 bet would win $225. Favorites are shown with a minus sign, like -265, indicating you need to bet $265 to win $100.

Fractional Odds – Fractional odds show the profit relative to the stake: the numerator indicates potential winnings, while the denominator represents the amount bet. If you convert American odds to fractional, a +225 figure translates to 9/4, meaning for every $4 wagered, you win $9 if successful. 

Decimal Odds – Decimal odds represent the total payout for every dollar bet, including your initial stake. To calculate your return, multiply your stake by the decimal number; for example, a $100 bet at 3.25 odds would return $325, including your $100 investment.

Understand Vigorish 

Sportsbooks build vigorish—more commonly referred to as “vig” or “juice”—into the odds to ensure a profit regardless of the outcome. 

In a perfectly balanced scenario, like a coin toss, the true odds should be even at +100 for both sides, meaning a $100 bet wins $100. However, online betting sites might offer odds at -110 on both outcomes, indicating bettors need to risk $110 to win $100; the extra $10 is the vigorish. 

To calculate the vig, convert each set of odds to implied probability using the following formulas:

• Implied Probability = 100 / (Odds +100)​ … for negative odds.
• Implied Probability = Odds / (Odds +100)​ … for positive odds.

Sum these probabilities for all outcomes; the vig is the amount by which this sum exceeds 100%. 

For example, with odds of -110 on both sides, each has an implied probability of about 52.38%; adding these gives 104.76%, indicating a vig of 4.76%. Wagers with a lower vig provide less profit for the sportsbook, and are better opportunities for bettors.

Online Betting Guide: Getting Started

If the thought of creating a sportsbook account seems intimidating, rest assured. With the cutthroat competition out there, gambling sites are continuously improving their setup processes to make your start as easy as possible.

In this section, we’ll guide you through every step on how to bet online—from selecting a sportsbook to creating your account, making your first deposit, and claiming a welcome bonus. 

Before diving in, make sure to set a comfortable spending budget for yourself and gather necessary documents like your ID, passport, driving license, bank statements, or utility bills. 

Ready to get started? Here’s how:

Choose an Online Sportsbook 

Every online sportsbook brings its unique perks to the table, so it’s crucial to choose one that matches your betting goals. 

First, consider the sports coverage: Are you focused on anything specific, or do you prefer a broader array? 

Key in on the promotional offerings—initial welcome bonuses are essential for a strong start, but ongoing promotions keep the momentum. Look for regular incentives like free bets, cashback options, odds boosts, and guaranteed best prices if you’re into horse racing.

Payment methods are also vital; while some betting sites prioritize fast, modern options like e-wallets and cryptocurrencies, others may stick to traditional methods such as bank transfers and credit cards. 

Finally, don’t overlook customer support. Reliable 24/7 access via live chat, phone, or social media ensures you can get help whenever needed.

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Create and Verify Your Account 

Signing up at an online sportsbook typically follows the same procedure across the board. Start by locating the ‘Sign Up’ or ‘Register’ button, usually next to the ‘Log In’ option in the top menu header or sidebar. Then, follow the on-screen prompts to enter your information. 

For instance, at BetUS, the entire process is streamlined into three quick steps:

Personal Details: Provide your name, surname, email and contact information.

Address Information: Input your current residential address. Ensure this matches your official documents to avoid verification issues.

Create Password: Choose a strong password with a mix of uppercase and lowercase letters, numbers, and symbols for maximum security.

Once that’s out of the way, you’ll need to complete the Know Your Customer (KYC) process. This is standard among safe online sportsbooks to verify your identity, prevent fraud, and comply with legal regulations.

Online betting sites can ask you to complete KYC right after registering, while others put up a prompt upon your first deposit or withdrawal. Occasionally, you may receive an email request at random—always verify the sender’s address ends with @sitedomain.com. If in doubt, confirm with customer support to ensure it’s legitimate.

Completing KYC is straightforward and typically involves:

• Proof of Identity: ID card, passport, or driver’s license.
• Proof of Address: Recent utility bill, bank statement, or official government correspondence.
• Payment Verification: Front and back of the credit card (with sensitive information covered), or screenshots of e-wallet accounts.

You can submit these via email, live chat, or through validation platforms like GetID. The process can take anywhere from instantly to 24 hours, depending on whether it’s handled manually or electronically. In the meantime, you can still use your sportsbook account to explore features and get ready for full access once verification is complete.

Make a Deposit

Before making a deposit, consider your preferred payment method. Keep these factors in mind:

• Potential Fees: Check for charges applied by both the casino and your financial institution.
• Withdrawal Options: Ensure your deposit method is also approved for withdrawals. If it’s not, you’ll need to choose and verify an alternative.
• Eligibility for Bonuses: Some deposit methods may not qualify for welcome bonuses. To confirm, go through the offer’s terms and conditions.

Popular banking options at sportsbooks like Bovada and BetNow include:

• Credit/Debit Cards: Visa, MasterCard, American Express
• E-Wallets: PayPal, Skrill, Neteller
• Bank Transfers: Wire transfer, ACH, SEPA
• Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Tether
• Prepaid Cards: Paysafecard, AstroPay, EntroPay

Claim Your Promos

Here comes the exciting part: claiming a sportsbook welcome offer. Take Everygame, for example—they provide a 100% match up to $500 for fiat and up to $1000 for crypto deposits. 

To claim, simply make a qualifying deposit, navigate to the ‘Special Offers’ page, and enter the appropriate bonus code. Sites like MyBookie might require you to enter a promo code during registration or when making your first deposit.

Always review the terms and conditions carefully. Key details to watch for include:

• Wagering Requirements: The amount you need to bet before you can withdraw bonus winnings. (Typically displayed like this: 5x, 10x, etc.)
• Expiration Dates: How long you have to use the bonus and meet the betting requirements.
• Eligible Events: Specific sports or events that qualify for bonus wagering.
• Maximum Bet Limits: The highest stake allowed when betting with bonus funds.
• Withdrawal Caps: Maximum amount you can cash out from bonus winnings.

Placing Your First Wager

Putting money on the line always quickens the pulse—especially if it’s your first time. Keep it simple to start: pick your sport, dive into the current dynamics, select a bet type, fill out your bet slip, and enjoy the game. Here’s more on what we mean by that:

Finding a Sport to Bet On 

Focusing on familiar sports ones provides a strategic advantage; however, branching out into unfamiliar territories might spark new interests.

Due to their popularity, major sports such as football, basketball, baseball, and soccer offer the widest betting markets. Exploring niche areas—NASCAR, table tennis, pesäpallo—or dynamic events like political elections and reality TV shows can be a refreshing change if you’re seeking variety.

If you’re looking for more detailed advice about a specific sport, check out the online betting guides linked below.

Baseball Basketball Boxing Entertainment Esports Formula 1 Football Golf Hockey UFC Political Betting Soccer WWE

Pick a Wager

The types of bets we discussed earlier are some of the most common. If you’re new to online betting or exploring a different sport, starting with straightforward options like money lines or over/under can help you build confidence. 

As you become more comfortable, consider advancing to higher-risk, higher-reward bets such as parlays or prop bets. BetOnline is an excellent option for this; the platform allows you to combine different selections (both prop bets and same-game parlays) into one customized betslip.

The Bet Slip Explained 

The bet slip is typically located at the side or bottom of the page. It can be sticky, meaning it remains visible as you scroll, or it appears automatically when you select any available odds. 

While the layout may vary across different sportsbooks, the basic functionality is consistent. You click on the odds to add them to your slip, which then populates. Here, you can enter your stake next to the selection for a straightforward bet or opt for the parlay section if assembling a multi-bet.

In BetOnline’s interface, you have the flexibility to tick selections to add them to a parlay or leave them unticked for exclusion. Uniquely, the platform also allows you to input either your desired stake or the profit you wish to achieve should your bet win.

Wait for Your Bet to Hit 

Placed your bet? Turn on the TV and watch the action unfold. If your wager wins, the money is automatically credited to your account—often within a few minutes, sometimes seconds. If it’s a loss, your bet status is updated accordingly. You can review all transaction details in your bet history in both scenarios.

When ready to cash out, go to the banking section, select withdrawal, choose your preferred method, enter the amount, and submit for approval. Ensure any bonuses are fully wagered; otherwise, progress may be forfeited.

Ways to Bet on Sports Online

• Futures: A long-term wager placed on the outcome of a season or tournament rather than a single game. If you’re into this, BetUS is renowned for providing early odds on major events, including the NFL, NCAAF, MLB World Series, NBA, and NHL, often up to a year in advance.
• Live Betting: Here, you place bets as the event takes place, which demands quick thinking due to its fast-paced nature. Odds shift continuously based on what’s happening in the game and may pause if something major occurs. Bovada is an excellent option for this; you can bet in real-time on plenty of sports like tennis, soccer, basketball, and esports. On the other hand, BetUS adds live streaming to the mix. 
• Betting Contests: These challenge you to compete head-to-head with fellow bettors for cash prizes in selected competitions. You can engage in various forms, such as making a series of picks, participating in questionnaires, entering exacta contests, tackling props challenges, or building team drafts. While entry is often free at platforms like Sportsbetting.ag, some contests may require a one-time participation fee.

Online Betting Tips

Luck might tip the scales now and then, but a sharp betting strategy is what makes you a winner in the long term. Here are five essential tips to keep in mind:

Bet With Your Head

We know what it means to be a die-hard fan, the irresistible pull to back your team through thick and thin. However, this loyalty can often cloud judgment, mask critical statistics, and lead to overly optimistic bets that deplete your bankroll. Try detaching personal bias from betting strategies; if you must wager, dedicate only a small portion of your budget to avoid overspending.

Analyze Match Conditions

Beyond the odds, delve into recent updates regarding team dynamics, player injuries, and performance in home and away venues. Account for external elements such as weather and past encounters. Keep in mind that players, despite their professional status, are susceptible to a range of physical and psychological factors that can sway their effectiveness on the field.

Use In-Game Stats to Your Advantage

Say you just logged in and immediately joined a soccer match in the 30th minute; don’t rush to place a bet based on team reputation or the odds available. Assess comprehensive statistics such as possession rates, shots directed or missed, corner kicks, fouls, and card counts. Positive metrics for one team indicate strong performance and can be a solid indicator for betting on them to score next or win the half.

Shop for Best Odds

Unlike slots, where RTPs and volatility remain relatively uniform across online casinos, sports betting odds can vary across bookmakers due to differing algorithms, the timing of the odds being set, the vig, and variations in how much money is wagered on each side of a bet.

So, how do you know you’re getting the best prices out there? For starters, you can scout the odds of different sportsbooks by simply browsing their sites for the game you’re interested in—no need to create an account. You might also consider setting up a spreadsheet to track shifts; over time, you’ll notice patterns and see which sites tend to offer better odds more consistently, saving you from having to redo all the legwork each time.

Start Betting Online with Confidence

Confident you’ve got a solid grip on how to bet online?

Remember, preparation is half the battle; start by understanding the sports you’ll focus on and familiarize yourself with the primary bet types. 

Establish a budget in advance—one that won’t impact your financial health if it’s fully depleted. 
Additionally, choose a gambling site that aligns with your goals, considering the promotions, variety of sports, bet types, in-play options, as well as additional features available.

Charlon Muscat

All the way from the renowned iGaming hub of Malta, Charlon has been contributing to the gambling industry since 2019. He began his career at Paddy Power™, but the onset of the pandemic led him to swap his nine-to-five for a life of full-time travel.

Throughout his journey, Charlon developed a successful freelance career, leveraging his prior industry knowledge and focusing on analyzing online casinos, sportsbooks, slots, payment methods, and current trends and strategies through the lens of an actual player.

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