How to Get Started With Sports Betting in 2021 How to Get Started With Sports Betting in 2021
News    01/13/2021

How to Get Started With Sports Betting in 2021

The global sports betting industry is growing at a remarkable rate. While the entire market was worth over $85 billion in 2019, favorable regulations worldwide will contribute to fuel this industry until it hits a projected $200 billion by 2025.

With so many new sportsbooks popping up and fans getting involved, now is the best time for dedicated sports fans to test the waters. If you are new to this industry, here's how to get started in 2021.

Choosing Your Sportsbook

When you're ready to dive into sports betting, the first step will be to choose a sportsbook that suits your needs. Depending on where you're located, you may find some great offers by using sportsbooks near you. For instance, while the US has historically been opposed to sports betting, there's been a lot of progress in recent years. New Jersey was one of the first states to really jump on this pro-betting legislation.

You will find several sportsbooks here that offer New Jersey free bets specifically for local residents. But surely, there are other localized sportsbooks with offers suited for your area of residence.

Aside from welcome and initial deposit bonuses, it may also be worth it to look for weekly offers and promotions. These can range from bonus bets on game day, to contests for active bettors.

Of course, one of the biggest considerations is whether the platform has all of the sports and events that you want to bet on. Also, withdrawal and deposit options may be a big make-or-break point. Think about what it is that you need from your chosen sportsbook and try to find one that meets all of these requirements.

Which Sports Should You Consider? 

Of course, sports bettors normally start off as general sports fans that are passionate about the game they are invested in. After pouring their free time into researching the finer details of the sport, fans sometimes decide to test their knowledge with sports betting. When it comes time to place your first bets, it should always be with the sports you have the most experience with.

That being said, some sports are more exciting to bet on, while others offer more advantageous bets over others. Some fans may find a sport like baseball is boring to bet on because of its repetitive nature, while a sport like mixed martial arts provides some unique betting opportunities because it is so unpredictable. It’s a give and take, and a decision that often separates serious bettors from casual ones. It also depends on the betting types that you are most comfortable with.

What Are The Popular Types of Bets? 

Regardless of what sports you enjoy, there are several standard types of bets that are normally available. Different sports may have different variations or their own unique bets. Here are some of the most common types you will find.

Moneyline (Overall Winner): 

This type of bet is the most straightforward and easy to understand. Here you are wagering on the ultimate winner of a sporting event. This could be a specific team or individual athlete. Oftentimes, this is the ideal wager for new bettors because there are fewer factors involved, and you simply need to predict the winner. 

Over/Under (Totals): 

This is a popular betting type as well. Here, you are wagering on whether the total number of points scored will exceed a predetermined amount. You can take the over-side or the under-side depending on how you see the matchup going. 

Spread Bets:

In sports like American football and others, spread bets are a favorite among bettors. These can also be referred to as handicap bets. Like this name implies, each team in a matchup will either be granted a point handicap or bonus that will be added or subtracted from their total score at the end of the match.

You are betting on whether your team will “beat the spread,” or have more points than the other team once the handicaps and bonuses are factored in. These spread bets can be very exciting because they essentially take low action or unprofitable games and give them a different variable to account for.

Run Line Bets:

Run line bets are essentially how to place a spread bet in major league baseball. While run lines can only be found in baseball, we will still include them here because there are many different variations that are similar, like puck line bets in ice hockey.

Because sports like ice hockey, football, or baseball can sometimes be a low scoring affair, standard spread bets are hard to fit into this format. Instead with run line bets, you are wagering on whether you think the favorite team to win will beat the underdog by at least one run.

The run line is almost always -1.5 and +1.5 with the extra 0.5 runs added to account for any ties because half points are not awarded in sports like baseball or ice hockey.

Proposition Bets and Specials: 

What if you want to bet on how many yellow cards will be given during a match? Or how many penalties will be called for? Or any other crazy bet that you may think of? This is where prop bets come in.

These are a nice change of pace from the standard offerings and the only limit is what your chosen sportsbook allows for. Not only are these fun and exciting, but they can also have favorable odds if you know where to look. 

Parlays and Accumulators:

With parlay bets, things can get very interesting very fast. On a parlay ticket, you are placing multiple wagers that all must be successful for your ticket to pay out. This can be very powerful, as small individual bets can have a large payout once they are added together. Clearly, this is an advanced betting technique that you should be aware of for once you have more experience.

Mobile Sports Betting

The Rise of Mobile Sports Betting

It’s common for people today to spend more time interacting with their smartphones than any other device as they check their social media or play the best mobile games. In a world that is becoming increasingly more centered around our ultra-powerful mobile devices, it’s natural that mobile sports betting will become a bigger focus in the future.

This is another factor to keep in mind as you are no longer restricted to accessing your favorite betting platform from their main website. Most of the top sportsbooks have dedicated apps for both Android and Apple devices, meaning that you can place your bets wherever you enjoy watching the game, and often have a powerful resource available to look up stats and live scores while you are out of your home.

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