Dec 12, 2020 For the best five betting tips on online sports for beginners, read more. Start with small bets: It takes a while for sportsbooks to beat. Of course, some athletes take winning tactics quicker than most, but even the best sports bettors have a learning curve. Bettingexpert had a lot of winning tips last month! Join now and gain free access to the hottest betting tips from our consistent tipsters. Sports Betting Tips – Betting Strategies that Work You can know every stat there is and be able to name every player’s strengths and weaknesses, but if you don’t know the right betting strategies to put that knowledge to work, you’re not going to have much success when betting money on sports.
Ever walk into a casino sports book and feel like you’re looking at the mission control of an alien spaceship? It can be an overwhelming experience as a first-time bettor, especially if you don’t know what the numbers on the digital boards mean. All you know is that you’re confident this team is going to beat that team and you’d like to lay down some money on it.
Well, that’s called betting the moneyline.
Like any hobby, sports betting is one of those activities with its own language, set of best practices, and house rules. Rookies have to learn what all of this entails, often from a friend who is already confident in their knowledge. Once you learn a handful of sports betting tips for beginners, you’ll feel confident placing a bet on a legal sports gambling app like the one from BetMGM or strolling up to a cashier to wager on a game or team you like.
Similar to our guide to NFL betting tips, we wanted to put together a little piece that explains some of the basic things you need to know about sports betting before putting your hard earned cash on a game.
How does a spread work?
In games like football and basketball you’ll see two teams listed. For example, on opening night of the NFL season this year, the Kansas City Chiefs are -9.5 vs the Houston Texans. What this means, is that if you want to bet the Chiefs, they need to beat the Texans by 10 points or more in order for you to win. If the Chiefs win by 7, then you didn’t “cover the spread” and that would be a loss. On the opposite side, you can bet the Texans +9.5, which means you would win if the Texans lose by 9 points or less, or win the game outright.
What’s a moneyline bet?
In baseball, you will see bets like this: New York Yankees -200 vs Toronto Blue Jays +175. What this means is that you are betting the moneyline, which is just betting a team to straight up win. However, the more likely a team is to win, the more expensive the bet is. In this example, you need to put up $200 to win $100 on the Yankees. But if you bet $100 on the Blue Jays in this bet, and they win, you will win $175. Betting favorites on the moneyline can be expensive!
What is the “juice”?
When you bet a game with a spread, you’ll notice that most of your bets will say -110 or -120. That means that you need to risk $110 in order to win $100. This is called the “juice” or the “vig”. This is essentially how the casinos make their money.
What’s a parlay bet?
A parlay is a bet where you group together a bunch of bets, but must win all of them in order to cash the ticket. These bets can be fun, and depending how many bets you put in, can offer a huge payoff with very little cash to risk. Below is a table that shows general odds on parlays if you are betting regular -110 spreads. This chart is based on risking $100. Remember though, while four teams may hit for you in your five team parlay, that one loss makes the entire bet a loser. So choose carefully!
Have multiple places to bet
The odds on bets are not necessarily the same from sportsbook to sportsbook. The Chiefs in the example above may be a 9.5 point favorite on one book, but only a 9 point favorite on the other. That’s a pretty important thing, as if you bet the Chiefs -9.5 and they win by 9, you lose your bet. But if you bet them at the other book at -9, then you would have pushed, and gotten your money back. Always look at multiple sites and get the best line possible!
Stay within your means
We are betting on these games to be entertained. If you go on a losing streak, it happens to everyone. Don’t get out of control and start doubling up, trying to get your losses back. Bet the games to have some extra fun, but don’t go over your head!
Where should I bet?
Find reputable books to bet on, ones that are approved by your state. The great thing about these books, is they are always looking to get new customers, and offer some great promotions – like this $500 deposit match from BetMGM! Before signing up, make sure you do a quick google search on that specific site, there are usually some great deposit bonuses available that will get you some extra money to place on some bets
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Parlays are the ultimate big-win chaser’s dream. The combined bets provide massive potential payouts on nominal wagers, and nearly every online sportsbook offers them. Though the odds are low for a given parlay to hit, the possible winnings are huge, and a handful of lucky bettors have cashed in some gargantuan parlay jackpots at legal sportsbooks worldwide.
But before jumping into some of the craziest parlay wins on record, it helps to better understand the betting method, its upsides, and the inherent risk.
How Parlays Work
In simple terms, parlays are “all or nothing” bets. Parlays combine two or more individual bets into a single wager. This ramps up the odds so that a parlay pays much higher than any of the individual bets.
For example, I combined four bets with odds of -110, -110, +150, and +115 today on PointsBet, and the parlay payout came in at +1859. A $20 bet would pay more than $390.
Sports Betting Online
Of course, there’s a catch. For a parlay to win, each individual bet must win. If you combine four bets into a parlay and one of them loses, you lose your bet even if the other three bets won. For that reason, parlays are risky bets, and most experts encourage you to steer clear.
On the other hand, casual bettors might enjoy making a weekly parlay every NFL Sunday or while any other league is in the thick of its season. There’s nothing wrong with making the occasional parlay bet as long as you acknowledge that your odds to win are low, similar to playing a slot machine.
Five Crazy Parlay Wins
Some bettors have beat the odds and been lucky enough to nab astronomical parlay wins in the past. Here’s a round-up of five amazing parlay wins.
The Three Sport Combo
Last year brought a huge windfall to one FanDuel sportsbook bettor who won on a $200 parlay combining 15 NBA, NFL, and NHL bets. Lego roblox id. The bet hit in November 2019 when all of the bettor’s moneyline wagers won for a payout of $229,276.
The moneyline bets boosted this wager over the edge for a massive win, because moneylines tend to offer longer odds if you pick the underdog. Whether it was sheer luck or educated guessing, this bettor came out on top.
The Charcuterie Parlay
In March 2019, sportsbooks were starting to take off in Mississippi on the heels of an August 2018 launch. March brought one noteworthy parlay win that featured a little bit of everything.
Rather than sticking to one type of bet, this bettor wagered $25 on a 20-leg parlay. The parlay was a veritable smorgasbord of bets and sports, including point spreads, moneylines, and totals. The wager covered a slate of Friday-night games across the NBA and NCAA basketball.
According to ESPN, the customer at BetAmerica sportsbook in Vicksburg, Mississippi’s Riverwalk Casino wagered on 14 favorites, three underdogs, and three “over” totals bets.
After a few close calls, the 20-leg bet won, netting the bettor a $104,412 win.
The Homecoming Special
In September 2020, a BetMGM customer raked in a $152,341 win on a $10 parlay.
The 11-leg bet featured five moneyline bets, five totals, and a single point spread wager (Duke +20.5). The majority of the bets predicted college football match-ups, but a few additional professional games sent the bet over the edge. The Rockets-Lakers under and the Yankees moneyline contributed to the win, resulting in a huge payday for the lucky bettor.
The 15-Leg NFL Slate
Amateur sports bettor Tayla Polia’s parlay success story is featured on countless lists just like this one, and for good reason. In 2015, Polia placed a $5, 15-leg parlay that included 14 point spread bets and one totals wager for the Steelers-Broncos matchup.
To her surprise, Polia’s bet won and paid out 20,000-1 for a cool $105,000. She actually thought the bet had failed initially because the Giants lost their match-up. But Polia had bet on the team to cover, which they did, completing her parlay and netting her a huge win.
Root, Root, Root For The Home Team
In 2015, MLB fans worldwide witnessed history. For the first time since the league’s inception, all 15 home teams won their games on a single day.
One lucky bettor cemented his place in the story by predicting the event with a 15-leg parlay bet. The Ireland bettor had plenty of reason to celebrate proverbial Irish luck when his ~$78 bet, placed at William Hill’s sportsbook, won him $100,810.
Should I Place Parlay Bets?
You may see these wins and instantly open your sportsbook app to start placing a few parlays for yourself. Before you do, it’s important to note that these wins are the exception, not the rule. The sage advice from sports betting experts is to stay away from parlays.
However, it’s okay to place a parlay bet once in a while, especially if you feel confident about a select few match-ups. Parlays can be a fun way to get in on the action and invest yourself in the match-ups of the day. Just play responsibly and keep in mind that your chances of winning any parlay are slim.
Parlay Tips
If you’re planning to place parlay bets, there are a few tips to keep in mind.
Less Is More
Sure, a 15-leg parlay is enticing, especially if the payout has four, five, or even six digits. But the more bets you include, the less likely you are to win. IF you’re interested in placing parlays, keep them simple at first. Combine two or three bets and see how they perform. If you’re lucky, you might win a few hundred dollars.
Favoritism Can Be A Benefit
Underdogs offer better payouts, but that’s only because they are viewed as less likely to win their match-up. If you’re building a parlay of moneyline bets, pay close attention to the odds. If one team is heavily favored to win, that might be the wiser pick.
Carefully Consider Home Team Bets
Unless it’s the mid-90s and you’re placing Chicago Bulls bets every week, try to steer clear of home-team bets when you’re building a parlay. I’ve fallen victim to the trap many times–I place a 5-leg parlay bet that includes my Chicago Bears to win only to find a disappointing 4-1 parlay that loses me my initial bet thanks to a crushing Chicago loss.
If you want to bet on your home team, keep that wager out of your parlays or risk disappointment.
Point Spreads Even Out The Odds
Sportsbook Betting Help
Betting on point spreads gives you smaller individual payouts, but combining them into parlays can produce big potential wins. Point spreads even out the odds of a given match-up, giving the predicted underdog a chance to cover the spread even if they lose the match.