A Guide to Online Sports Betting
– How are Online and Offline Sports Betting Different?
– What Sports Markets are Available Online?
– How are Odds Calculated?
– Different Types of Bets
– Online Sports Betting Strategies
– The Future of Online Sports Betting
– Developers of Sports Betting Software
Betting on sports is now faster, easier, and more accessible than ever in the world of online casinos. Countless online bookmakers allow adults across the globe to place wagers on the outcome of any sporting event 24/7. Though land-based betting establishments remain popular in many countries, particularly the UK, their online counterparts provide fans with a much more convenient way to bet.
This market is only expected to grow and grow in the future, and as technology evolves, the experience of betting online will continue to become more immersive. If you’re interested in trying sports betting, our guide to online sports betting is designed to give you the information you need before you start.
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How are Online and Offline Sports Betting Different?
While there are some similarities, overall Online and offline sports betting offer completely different experiences.
Can Do It From The Comfort Of Your Home
Online sports betting takes place in the home. That’s the first major difference. There’s no need to take a walk along the high street to your betting shop of choice, no need to wait in line while other people make their wagers, and no need to drive or catch a bus either. It’s a far simpler and more cost-effective option.
Your online sports betting brings more choice too. At a brick-and-mortar bookmaker, you only have the sports and odds they offer – if you want to try something different, you’ll need to find another bookmaker. Online bookmakers tend to offer better odds than offline establishments, and you can shop around at your leisure. With online sports betting, you’re free to place wagers as and when you like. If you want to put a bet on a football matches, for example, you can get up on your journey to work and wager on a match unfolding on the other side of the world between stops.
Online sports betting being available 24/7 is ideal now that we have such advanced mobile options. You can pick up your smartphone and make a wager at any time, day or night, wherever you are. The best online bookmakers have mobile-optimized websites that work beautifully on the smaller screen. As well as apps you can download and with plenty of features, and give you everything you’d expect to find at desktop websites.
Online sites also may include such options as live streaming, which enable you to watch events as they unfold in real-time, right on your smartphone, tablet, or laptop. This saves you needing to have another other TV or radio service, thus giving you an all-in-one betting and viewing experience.
A Wealth of Information
With online betting, you also have a wealth of information at your fingertips. The best online bookmakers typically provide you with statistical data on individual players, teams, and more; this helps you to make a more informed choice. You can also open another tab and check other websites for details too, with an entire world of knowledge available. So whether you are looking for Mayweather fight odds or French Open odds, you will find it with ease. Especially when you are new and looking to get a grasp of how things work. Booker makers will often have details about types of horse bets or a guide to football betting, so you can get wised up on what’s on offer.
Quick & Easy
Placing bets is completely different too. Online, you can just click on any wagers that appeal to you and add them to your betslip with a minimum of fuss. At brick-and-mortar establishments, you’re required to fill in a paper betslip before taking it to a cashier – on busy days (such as the Grand National or a major Premiership Football game) long waits may be in order.
More Betting Options
There are far more betting options available at an online sportsbook in comparison to real-world bookmakers. The most well-known ones are early-cash-out, which lets you take your bet before the final whistle has blown or bet in-play, where you placed bets as the action unfolds. However, there are countless more.
Plus, when you go to place a bet, you will have a more niche variety on show. Some of the best college football bets and Wimbledon bets are more niche, as they have a lot of upsets and unpredictability each year. Not all bookmakers offer all bets of courses either. As such, if you can’t find one that offers bets on BNBA all-star game MVP winners, or even more niche things like, NBA defensive player of the year winners, at one casino. You are likely to find it at another somewhere online easily with the ability to switch from sportsbook to sportsbook with ease.
Ultimately, online sports betting ensures more convenience, freedom of choice, and simplicity, while offline betting is a more social affair. You might prefer one or the other, or you may like both equally. Online sports betting can be used alongside offline wagering, giving you a terrific solution for those times when your local bookmaker is closed (or if you can’t get there for one reason or another).
What Sports Markets are Available Online?
One of the first things you’ll notice when you visit an online bookmaker is the sheer amount of different sports markets available. The most high-quality websites will offer a choice of mainstream options alongside more niche ones too. This ensures the brand appeals to the broadest array of customers as possible, rather than forcing them to look elsewhere.
Within each sports market, you can typically find a number of leagues or tournaments with hundreds (if not thousands) of events open to you. For example, clicking on a basketball tab may give you a choice of American, European, Japanese, and other leagues to try.
The most common sports markets you’ll find at online bookmakers are football, American football, baseball, tennis, cricket, darts, horse racing, golf, ice hockey, rugby league, and others. You’ll usually have access to fixtures from across the globe in each, presented in an easy-to-follow format. Perhaps you’ll only have an interest in one particular sport, such as greyhound racing, or you’d prefer to try your luck on as many as possible. There are no limitations, and you can experiment with as many as you’d like. Sports markets tend to listed at the right of a site’s homepage, allowing you to browse quickly and easily.
It is one of the newest areas of online betting, and for fans of video games. With eSports, the very best games in the world turn professional, forming teams with like-minded gamers to compete in contests. Some of these offer prizes big enough to change players’ lives, with the winning teams bringing in serious revenue. eSports tournaments include The International, Major League Gaming, Halo Championship Series, Intel Extreme Masters, and many others. Games at the contests’ core are Counter-Strike: Global Offensive, Dota 2, StarCraft II, Halo, League of Legends, and Overwatch.
The market for these is massive, and if you’re a gaming fan, betting on eSports is a natural entry point into the world of online bookmakers. Not every site features an eSports section, but some of the most reputable do. Placing bets on these works in much the same way as betting on ‘standard’ sports – just check the odds, pick one that captures your imagination, and add it to your betslip.
This date back decades. Traditionally, fans get together, create teams of their favourite players, and winners are picked based on the statistical performance of said teams/players in the real world. Numerous high-profile websites (such as FanDuel or DraftKings) are dedicated to fantasy sports. This can be a much faster, simpler process than taking part in offline fantasy leagues, in which people usually gather together. Take a look around different online sports betting sites and don’t be afraid to try something new. Not only is there real potential to win big prizes, but you can also discover new passions.
A terrific feature at online bookmakers. Live sports betting allows you to place wagers on a game, race, or other events that are currently underway – no matter how far through it is, no matter what the score, you’ll be able to put a bet on. This is an exceptional option if you want to put a bet on a specific event but missed the start. Rather than simply having to accept that you may have lost the chance to wager, you can instead still stand to make a profit.
Live betting gives you the freedom to place fresh wagers if you feel your original one is unlikely to secure a win. You may change your mind depending on your team’s performance, on an individual player’s behaviour, or just have a gut feeling that you made a mistake, or even cash-out altogether. Whatever the cause, live betting gives you an impressive amount of flexibility to put bets on at any point during an event in-action. Most online bookmakers display a selection of events in-progress on their homepage, usually with the most popular ones at the top. You’ll be able to see all in-progress games by clicking on their ‘in-play’ or ‘live betting’ tab and gain access to options all over the world.
This provides a faster, simpler alternative to real-sports betting. With the likes of football, baseball, ice hockey, and horse racing, you’re subject to certain restrictions. For a start, you can only choose from those games, races, and matches available – let’s say you want to put a wager on a greyhound race, but none are set to take place for the rest of the day?
Virtual sports are the solution to these limitations. Most reputable online bookmakers offer virtual sports, with a selection of different ones available – usually greyhound racing, horse racing, football, motor racing, and Speedway. You can actually watch the races unfold as high-quality animations. The entire event isn’t presented, though – that might defeat the point of virtual sports (or, at least, take away some of its convenience). You’ll be given around 30 seconds of animation, which feature highly-realistic visuals and immersive sound effects (with commentary). All of this helps to make the virtual event feel just as engaging and exciting as the real thing but in a fraction of the time. This equates to less time spent waiting for the results to come in.
Betting on virtual sports tends to be the same, with odds and player names. However, these are original creations, so you don’t need to worry about players’ or runners’ historic performance – just the odds presented. A Random Number Generator (RNG) keeps virtual events fair and balanced. Virtual sports take place every few minutes, so you can still take part in betting on a horse race or football match at any time of day or night.
How are Odds Calculated?
Odds can be one of the most confusing, and intimidating, aspects of online sports betting. When you visit any online bookmaker for the first time, you’ll see countless odds presented in one of ma selection of formats (although fractional is the most common) – they’ll likely look like nothing more than random numbers to total newcomers.
Odds are basically a representation of probability giving you the information you need to judge your bets. Different bookmakers provide different odds, and some are fairer than others; one website’s odds will likely offer you a better return than the rest should your wager be a successful one.
Sports betting is all about examining the probability of a specific outcome occurring. They are essential to understanding betting, and they work the same across all types of betting. Whether it is NHL Stanley Cup odds, Daytona 500 odds or Mayweather odds, once you understand them, you are good to go and bet on whatever you please.
Odds can be presented in three different formats: American, Fractional/UK, and Decimal/European. Let’s look at each of these in turn:
American odds –
If you’re using an American sportsbook, you’ll see that their odds are displayed in a completely different way to the UK format you may be used to. The American system of betting on a favourite revolves showing how much money you would need to wager, based around £100.
So, if you go to place a bet on a game where the odds of a specific outcome are -150, this means you would have to wager £150 in order to actually win £100 (plus your original £150 back). If you’re looking to bet on an underdog in the American style, this involves putting a ‘+’ ahead of the odds. For instance, betting on a horse with +300 means you need to bet £100 to receive £240 winnings, as well as your stake. If it sounds complicated at first, don’t worry – you’re not alone. However, the more time you spend using this system, the more you’ll get used to it.
These are very useful to get to know if you like betting on American sports and following outlets that are from the US, as these will dictate their odds in this style. And so, if you are looking for odds to win Stanley Cup or the Superbowl, then these are the ones you need to know.
Fractional / UK Odds –
Otherwise known as British odds or UK odds, these tend to be incredibly popular with online and offline bookmakers based in Great Britain. If you’ve spent any time at all looking at bets in a newspaper, online, or when passing a brick-and-mortar bookmaker, you may be familiar with the format of this system. Fractional odds are usually presented with a slash or hyphen, such as 5/1 or 5-1, verbalized as ‘five-to-one’. Many of the world’s biggest online bookmakers will either use this format, or allow you to choose it on the main menu; having a choice of multiple odds systems available is yet another benefit of online bookmakers, letting you make wagers your own way rather than having to play by ‘house rules’ (for want of a better term).
To continue with our 5/1 or 5-1 wager, this would mean you receive a £5 prize for every £1 you place upon a specific outcome (as well as that £1 stake). This is a fairly simple system – basically, the fractional odds format applies to the ratio of profit you stand to make. So, if you see an event with odds of 7/1, you know you’ll receive £7 for every single £1 you wager, or £80 for a bet of £10. This is a very simple system and is ideal for newcomers thanks to it is essentially telling you exactly what to expect. Its format can vary, too: if you see an option of 4/2, this would bring you £4 for every £2 you make, as well as that stake back, resulting in £6. The numbers on either side of that slash or hyphen can change based on the event set to take place, which can be confusing at first glance. Just keep referring back to the simple definition of this system and you’ll be fine. These will most likely be found on things such as football or rugby.
Decimal / European Odds –
These tend to be more popular in such places as Australia, Canada, New Zealand, and Europe (hence the alternative name). Many betting fans find decimal odds one of the easiest formats to follow and allow for fairly simply spotting an event’s favourites and underdogs.
Basically, the decimal odd figure relates to the winnings you can expect to get for every £1 you bet – the number covers your entire potential return, instead of just the profit. So, your stake is factored into the decimal number, without any need to add your wager back into the overall amount. For example, if you were to place a wager of £1 on a team or player with odds of 2.20, you’d win £2.20 back overall. If you wagered £100 on the same odds, this would be £220 in total. If you were to bet on a higher number, your return would be higher. A 5.00 odds would bring in 5.00 for a £5, and £500 for a £100 bet. The lower the number is, the higher the player or team’s chances of winning. If another team or player has a higher number, they’re less expected to win, which brings in the chances of a higher return (though it’s also a bigger gamble).
Whichever system you prefer to use, it’s key to bear in mind that odds are a guideline only and not a guarantee of a specific outcome: no matter how reliable or experienced a bookmaker is, they cannot predict the future with 100% accuracy. In the end, even a horse or team which has never (or rarely) lost an event might still lose – costing countless backers their stakes. Remember this when studying odds, and let them guide you rather than making the decision for you. Having said that, when starting out in online sports betting, you might find odds incredibly helpful in leading you towards bets, so do follow them. The important thing is, keep your wagers low, so if you do lose on a favourited it’ll make less impact on your finances.
Different Types of Bets
During your first forays into online sports betting, you might find yourself considering all wagers as identical, believing you’re always betting on a straight win. No fuss. Simple. However, as you’ll soon discover, there are a number of betting types across the thousands upon thousands of events out there. Let’s take a look at each one in turn:
This is the simplest sports bet out there. The win or moneyline bet is a straight bet, and one of the most popular given its simplicity. The win/moneyline bet applies to almost every sport available at online bookmakers and only requires you to back the team or player you believe capable of winning. That’s it.
Point spreads tend to be big in the USA, particularly in the world of American football. You might also see them used for basketball, though they’re by no means limited to this – you can find them used in most sports. These revolve around betting on the team or player you expect to ‘cover the spread’: this spread is created by an online bookmaker making both sides taking part into the equal favourites to win.
A favourite will basically have points deducted, while an underdog will receive points – this leads to an equalizing spread, varying based on the number of points granted and taken away. Backing a favourited side on a point spread means you’re wagering on them to win by a specific margin, bigger than the spread itself. For example, if you were to wager on an underdog, you’re backing them to win or lose by a margin below the spread’s size.
Although it sounds confusing in theory, once you start betting with point spreads, the process gets simpler. For example, if a team you wanted to back were awarded 7 points against their opponents who had 7 points deducted, you would win so long as your team managed to win or lose by less than 7 points. Alternatively, if you backed the team with the 7 points deducted, you would win if they won by more than 7 points. If either team wins or loses by the exact 7 points, you would be faced with a ‘push’, and receive your stake amount back. As you can see, this is fairly simple once it’s broken down into an example.
Handicap betting is similar to the point spread style of betting discussed above. Points are provided for one side and taken away from the other, but with a different goal: both participating parties are not made equal favourites. Instead, handicap betting is more about giving more varied wagering options, with a chance to boost your chances of a win whilst also reducing or improving the odds themselves.
This works in a fairly straightforward way. A bookmaker will give you a number of handicap options for a specific team, which may be +1, -1, or +2 (for example). In this case, if you choose the +1 option, your team would be given an extra goal for this wager: this would lead to lower odds, as they would have a better chance of winning. If you choose a -1 option, your team would be deducted a goal, leading to higher odds, while the +2 would add two extra goals. By changing the odds for each bet, you’re also altering the potential winnings you stand to receive after the event has ended.
Totals and Over-Unders tend to be used interchangeably. This refers to an online bookmaker establishing a line for the overall number of points (goals, runs etc.) to be scored in any one event. You would then have the option of wagering on whether the eventual total will be above or below the bookmaker’s own line – if you bet above, you’re betting ‘over’ while betting below is betting ‘under’. Odds for over and under bets can vary greatly, as one result can be more or less likely than the other.
Proposition bets, or specials, are an interchangeable term for wagers offering a fun experience rather than a serious attempt to win a big prize. These tend to revolve around guesses rather than informed decisions, yet can prove lucrative if you’re willing to chance it. Props typically are wagers with little or no direct impact on the event’s overall outcome, such as the time of the first goal, if any players in a game will score a hat trick, who will score the first goal, and so on. These are a quick, easy way to try your luck alongside other bets, or independently of them if you’re looking for a wager with a difference.
Futures (or Outrights)
Futures and Outrights cover the same type of bet: these wagers are placed upon the overall winner of a league, tournament, or competition ahead of said contest’s beginning.
You will see accumulators mentioned again and again at online bookmakers. These are wagers that involve picking one or more bets – such as choosing four or five teams to win their next respective games. Accumulators can be difficult to win, as you have to get each of your picks right. Any one, two, or more wrong wagers can lead you to lose, ultimately costing you your entire stake amounts as well as potential winnings. Still, the risk may be worth it given the increased returns. Backing strong teams that equate to a winning accumulator can leave you with a hefty prize, so bear that in mind.
Combination bets are multiples based around placing more than one wager within a group-bet. However, every choice you make doesn’t come under one sole wager. Your wagers in a combination bet aren’t reliant on each other – if you back one outcome which turns out to be wrong yet all others are correct, you’ll still pick up your winnings on the latter. Combination bets are best left to more seasoned bettors or those novices who want to try something a little bit different.
Online Sports Betting Strategies
Sports betting is, by and large, dependent on chance. You can’t guarantee an outcome, no matter how good a team or individual’s record is: anything can happen during an event. Favourites can lose. Underdogs can gain game-changing victories. Online sports betting strategies can help you to alter your wagering techniques and potentially boost your winnings, but they aren’t 100% sure to make you richer. Bear that in mind when reading the strategies below!
Make the Most of Bonuses
Online bookmakers rely on bonuses to attract new customers and retain existing ones. A solid welcome package can make all difference between choosing one website and a competitor: you may be offered one free bet for registering, or a 100% match on your deposit that effectively doubles your account balance. Different online bookmakers provide various bonuses, so be sure to shop around. Take your time, work out which brand will give you the most extra bets/money for your expected deposits, and go for the one that suits you best. However, just be sure to factor the overall quality and reputation of the website in too. For example, one bonus deal that gets your time with a website off to an outstanding start may not be worth going for, if said online bookmaker offers few sports markets and poor odds.
Perhaps you prefer to open accounts at two, three, or more online bookmakers to diversify your betting experience. You might like the Stanley Cup odds at one brand’s website, but love the presentation at another. Whatever your motivation, another overall benefit to using multiple online bookmakers is comparing odds. Checking the differences between odds gives you more freedom to boost your potential returns. Even if these variations seem tiny, extra pennies can add up over time. You may even want to place wagers across these websites, to potentially boost your total winnings on a favourite.
Limit Your Blind Bets
Sometimes, you will get lucky when you bet at random – but it’s vital that you don’t always bet blind. Get used to putting a little bit of research into your wagers. Look into a team’s previous performance, studying their wins, their losses, and players’ recent injuries; all of these can impact the success of your bet. Simply betting on a favourite in a sport you don’t know can be a fun, easy way to wager – just don’t do this every time. Improve your chances of success with a little bit of research.
Start with What You Know
It makes sense to start making bets online with the teams or sports you know. Don’t throw money at an NBA game if you’ve never even watched a game of basketball in your life, or darts, or cricket. If you’re a dedicated football fan, start there. You might want to begin by wagering on your favourite team – but if they continue to lose you money, don’t feel guilty about betting against them in the future. Loyalty shouldn’t lead you to keep coming out at a loss if they are performing badly.
Avoid Betting ‘on Tilt’
Going ‘on tilt’ is a fairly well-known sports-betting term. This refers to letting your emotions guide your wagering choices, rather than studying odds, performance, data etc. While trusting your gut instincts can be a smart decision in online sports betting at times, don’t rely on them where huge amounts of money are involved. Let your gut guide you on small wagers, but make informed choices where big cash is at play.
The Future of Online Sports Betting
Mobile technology’s evolution has transformed online sports betting in the past decade or so. This will only continue in years to come, as our smartphones, tablets, and smartwatches all unify our online activity, keeping us connected to our favourite bookmakers 24/7.
One major shift in the industry is VR. This technology is already coming into play around the world, including that hotspot of gambling, Nevada: customers will able to watch virtual sports unfold in real-time through VR headsets, immersing them in the experience more deeply. This will also make placing wagers, studying data, and interacting with the online bookmaker far different, possibly replicating the more social atmosphere of a brick-and-mortar by uniting customers in one virtual space. As online sports betting continues to become a more popular, convenient option, innovators will embrace changing technology to maximize your experience.
As well as this, there will be more of the same that there already is, but better. This means bigger and better odds, more innovative bonuses and more betting options than ever before.