It is not unusual for sports enthusiast and fans to place wagers on the outcome of a sporting event. Though it is classified as a form of gambling and its legality remains questionable, people continue to indulge in this practice. Online sports betting, as the name suggests, is the online version of this traditional form of betting that allows users to place bets on their favorite teams or outcome of a much-hyped sporting event from the comfort of their home, or better still through their mobile handsets.
Getting Started
If you are new to the sports betting environment, its operations and jargon may seem a little hard to decipher. Therefore, it is crucial that you spend some time in finding out a reputed and dependable online sportsbooks. Steer clear of establishments with poor record or the ones that have surfaced recently, since you are going to put your money on it.
One sure-shot way to establish the credibility of an online sports betting forum is to look for user rating and reviews. If you are in Vegas, look for information on the local online betting forums through reviews such as Slots.lv Casino review or research on the general user rating. Some of the established betting forums such as Bovada and 5 Dimes have consistently received rather rave reviews from users. Starting out with such established names is a safe bet for beginners.
Understanding the Jargon
Sports betting do not have any uniform rules that apply to every form of sporting events. The betting and odds making process varies depending on the sport you want to place a bet on. However, there are some standard jargon that apply to all betting types, across board. Familiarize yourself with the sports betting jargon before placing your money in online sports betting:
- Action: Action refers to the simple act of placing a bet. Since legality of sports betting is often in question, the system is largely covert; and expressions like I want in on the action’ are used to place bets.
- Sportsbook: An agency – or online sports betting forums in this case – that receives bets is known as a sportsbook; and a person handling bets is referred to as a bookie.
- Handle: This refers to the amount of money put on wagers or bets.
- Juice: The percentage of handle that a bookie sets aside as his profit is known as juice or vig.
- Money Line: For the more popular games such as Baseball, merely scoring high points isn’t enough to get returns. A money line is used instead. In simple terms, money line is a pricing system. For instance, if you are betting on the stronger team, you’ll be required to place a bet of $1.20 to win $1; on the other hand, you can win $1.10 by placing a bet of $1 on the weaker team. The term pick’em is used in money line if both the teams are equally strong; in this case, the odd are also leveled out.
- Handicap or Spread: Handicap is the practice of lending leads in points to one of the playing teams in order to create a leveled betting field. In games such as football where the scores are fairly high, this leveling is done through point spread, where one team is given an advantage or lead of a few points over the other.
Placing Bets
The first step towards placing a bet is to have money transferred to your account. You can use reliable services such as Moneygram or Western Union to do so. It is a fairly simple process; you begin by going to the deposit page of the online betting site, which leads you to a transfer service. Create an account and transfer the desired amount. The money transfer service will generate a control number; key in the given number on the betting site and the money transfer will be processed in under an hour.
Once you have the money in your sportsbook account, you can proceed with making a bet. Just choose the game you want to bet on, and specify the amount you want to place in the wager, and you are done! The only tip here is to bet only as much as you can afford to lose without feeling a pinch.
Each site has a different policy on payback. Most betting sites release your share of winning amount through money orders, cashier checks or free checks.
Best Online Sports Betting Sites in the US
A myriad of betting sites exist in virtual realm, with new ones popping up every other day and the shady ones going off the radar in no time. To make sure you don’t suffer a financial setback, it is advisable to stick to reliable names. The top betting sites in the US include:
- Sportsbook.com
- 5 Dimes
- Bovada
- Bet online
- Sports betting.com
- Bookmaker
- Topbet