Everything You Need to Get Started at a Sportsbook

Sports betting may seem overwhelming for beginners because there are so many types of bets you can make at many different sportsbooks. That’s why we break it down for you in this beginner sports betting guide. With so much market coverage, you have an array of different bets. Don’t worry. This guide covers the popular bets, benefits of the mobile apps, and more.

Choose a Legit Site

There are many options when choosing a sports betting site. Make sure to do your research and select a reputable and trustworthy site. Ensure the site is licensed and regulated by a government body. When a player picks one (or multiple) of our sportsbook operators’ websites/apps, they will be required to create an account. This will include entering some basic information as well as creating a username and password.

Before you can begin betting, you will need to add funds to your account. Most sites will offer several different methods to do so, including credit/debit cards, e-wallets, and bank deposits. Also, most withdrawals work best and smoothly, especially fast payouts, when you use the same deposit method. Depending on the amount and payment method, like crypto, the best cash-out betting sites in Nigeria offer instant payouts or fast payments within hours.

Understand the Betting Odds

Simply put, odds tell you the likelihood of an outcome and how much you’ll win if you are correct. Odds come in decimal, fractional or American. However, decimal odds are mostly used in Nigeria. If the odds are 2.00 and you bet ₦1,000, you will receive ₦2,000 if you win. Meaning stake + win = profit. Each operator determines the specific extra fees.

Reading Basic Betting Lines

Sports betting lines show the odds of an outcome happening during a sporting event. Moneyline odds indicate the likelihood of a particular outcome. These odds are used for a wide variety of team sports like basketball, football, and rugby. Positive odds represent the underdog, while the negative odds are tied to the favorite.

Point spread wagering is commonly used in football and basketball. This line reflects how many points the favorite is expected to win by. Over/under bets are also known as totals. With this type of bet, you’ll wager on whether the total points or goals scored will be above or below the number provided by the sportsbook.

Why Futures Are Intriguing

One popular type of bet is a futures bet. These bets, which can range from season-long bets on various outcomes, give bettors the ability to wager on things like who will win the league that year, who will win each division, as well as individual awards and outcomes like MVP. Again, negative odds mean the favorite, and positive odds mean the underdog.

Futures bets are commonly made during the offseason when teams begin preparing for the first game of the year. That’s partly due to the long offseason between the previous year’s championship and the opening week of the next season, but it’s also because most futures bets have the longest odds leading up to the first game.

Master the Prop Bets

A third very common type of wager is a prop bet, or betting on an outcome within a game. Prop bets are made on the player or the team. For example, a player prop could be the number of goals scored by a player, or the number of wickets or overs bowled by a cricket player. Team props are how many goals a team, or both teams, score, for example, or wickets by a team or both teams. Basically, if there is a statistic, there is a prop bet surrounding it.

Parlay Bets

A parlay is when you link three or more bets on a single betting slip. For parlays, all wagers (known as “legs”) must win for you to earn a payout. Because you are betting on multiple outcomes to win, the odds of winning parlays are longer than if you had placed each bet straight. Most likely parlays because instead of increasing their wager on one or two picks, they want to bet a few dollars and hit a huge payout if their predictions prove correct. Same-game parlays take this concept, but the leg bets are made from the same game.