With the continuous growth of the online betting environment, sports wagering has shifted from brick-and-mortar betting shops to online sportsbooks. Through online sports betting, punters can place wagers on their favorite sports anytime and from anywhere. By simply opening an account with a top-rated online bookie, and making a deposit you can place a bet on any sports event you choose.
In sports betting, the odds are the backbone of your bet because they determine its value. They represent the reverse probability of an outcome’s occurrence, meaning that the lower the probability the higher the related odds will be. So, a bet is valuable when the likelihood of a specific event occurring is higher than what the odds indicate.
For better chances of high winnings, you should compare the odds offered by several sportsbooks on a certain event.
The Main Types of Wagers
Fixed Odds Betting
This type of wagering involves you predicting the outcome of a sports event and placing a bet on it. Because the odds are set when you place the wager, your payout depends on those odds.
With Point Spreads you’re not predicting which team will win a match but rather on which team will cover a spread as set by the bookie. If you bet on a favorite on point spread you’re predicting that the team will exceed the spread’s size in case of a win. If you bet on the underdog, you’re predicting that the team will win or lose by a score lower than the spread.
Handicap Betting is usually used in soccer, basketball, and football. It involves two teams with significant strength differences. This type of bet accounts for the difference by applying the score/ goal handicap which can be positive or negative.
With over-under/totals, the bookie establishes a line for the total number of goals or points scored in a match. You can bet if the actual outcome will be lower or higher than the set line.
Parlays/ accumulators are also known as multipliers because they involve numerous selections as part of one wager. For example, you can bet that four of your favourite basketball teams will win their next games by including the teams in a parlay/ accumulator.
Choosing an Online Sportsbook
Before you decide which online sportsbook you should use to place your wagers, you should factor in a few aspects including the types of bets offered, level of the odds, any promotions, payment methods as well as security levels integrated by the betting platform.
Your best strategy is to make a detailed comparison between 2 or 3 of the top rated online sportsbooks and decide which one offers you the best opportunities for high wins.