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Your complete guide to getting started with sports betting. Learn how odds work, understand different bet types, and discover bankroll management strategies that will help you bet smarter.
Odds tell you two things: the probability of an outcome and how much you'll win. Here's how to read the three main formats:
| Format | Underdog Example | Favorite Example | How to Read |
|---|---|---|---|
| American Odds | +150 | -150 | +150 means bet $100 to win $150 profit. -150 means bet $150 to win $100 profit. |
| Decimal Odds | 2.50 | 1.67 | Multiply your stake by the odds. $100 x 2.50 = $250 total return ($150 profit). |
| Fractional Odds | 3/2 | 2/3 | Win $3 for every $2 wagered (3/2) or win $2 for every $3 wagered (2/3). |
Pro Tip: American odds are most common in the US. Negative numbers = favorite (bet more to win less), positive numbers = underdog (bet less to win more).
Simply pick who wins the game. Easiest bet type for beginners.
Example:
Kansas City Chiefs -150 vs Buffalo Bills +130
Bet $150 on Chiefs to win $100, or bet $100 on Bills to win $130
Team must win by more than the spread, or lose by less than the spread.
Example:
Lakers -5.5 vs Celtics +5.5
Lakers must win by 6+ points, or Celtics must lose by 5 or less (or win)
Bet on whether the combined score will be over or under a set number.
Example:
Total Points: 48.5
If both teams combine for 49+ points, Over wins. 48 or less, Under wins.
Combine multiple bets into one. All selections must win for payout.
Example:
3-team parlay: Chiefs ML + Lakers -5.5 + Over 48.5
Higher payouts but all three bets must hit. One loss = entire bet loses.
Bet on specific events within a game, not the final outcome.
Example:
Patrick Mahomes Over 2.5 Passing TDs
Win if Mahomes throws 3 or more touchdown passes
Bet on events that will be decided in the future (season-long).
Example:
Chiefs to win Super Bowl +450
Bet $100 now, win $450 if Chiefs win the Super Bowl
The most important skill in sports betting isn't picking winners - it's managing your money. Follow these rules:
Only bet money you can afford to lose. Set aside a specific amount for betting that won't affect your bills or savings.
Bet 1-5% of your bankroll per bet. If you have $1,000, one unit is $10-50. This prevents big losses from wiping you out.
Keep a record of every bet: date, sport, bet type, odds, stake, and result. This helps identify winning and losing patterns.
Never increase bet sizes to recover losses. Stick to your unit size regardless of recent results.
Different sportsbooks offer different odds. Having accounts at multiple books lets you find the best value.
Step away after big wins or losses. Emotional betting leads to poor decisions.
Check out our top-rated sportsbooks with the best welcome bonuses, competitive odds, and user-friendly apps for beginners.
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