Online Sports Betting Explained in 3 Easy Steps

online sports betting

Here’s a quick, easy guide to online sports betting. Learn how to bet on sports, and get ready to win BIG. All in just 3 quick steps:

  1. Find a bookie or sportsbook
  2. Sign up
  3. Start wagering

Online Sports Betting: Step 1. Find A Bookie or Sportsbook

Let’s start this simple online sports betting guide explaining who the bookie is. A bookmaker is someone who processes bets for you. So, a bookie, or an sportsbook, will present you with a selection of wagering lines, and you’re free to decide what to bet on. The agent gets a percentage of each bet as profit, and that’s known as “the sports betting vig” or “the juice.”

Online Sports Betting: How To Pay For Services

When it comes to how you pay for online sports betting services, you have two options:

  1. Cash: You can pay directly with credit card, cash, or bitcoin, and set up your account with as much money you’re planning to spend.
  2. Credit Line: The second choice is to create a credit line with the bookie or sportsbook. This means that you can agree with the bookmaking agent on a given amount to be added to your account, and then you can bet on that amount.

Online Sports Betting: Where Can I Bet

Now in this online sports betting guide, let’s check out where to place a bet:

  • Onshore online sports betting: These are the sportsbooks that are legally authorized to operate inside their own territories, such as the United States or the UK.
  • Offshore online sports betting: These ones are based in places like the Caribbean or Costa Rica, and they take wagers from bettors from all over the globe.
  • Independent bookies: These are agents that operate on their own with the help of online sports betting services known as pay per head. They usually take wagers from people they know personally. Here’s some info on how to become a bookie.

Online Sports Betting: Step 2. Opening A Wagering Account

These are the easy steps to create an online sports betting account to start wagering now:

  1. Join: Go to your favorite sportsbook, click the “join” button (likely located at the right-hand side of your screen, at the top), then just fill out the requested info on the following page, which is a simple sign-up form.
  2. Fund Account: Next, you need to add funds to your account. And, as explained above, you need to decide if you want to pay with cash or contact the sportsbook to create a credit line.
  3. You’re Ready: That’s it! Once you’ve funded your account, you’ll be ready for the next step, which is to request your bonuses.

Online Sports Betting Bonuses

There are three types of online sports betting bonuses:

  • Sign-up bonus: You can get a standard bonus just for signing up, and this is likely to be 20% for a deposit of $1000 or more. So, you receive an extra $200 on top of your original $1000 for a total of $1200 to wager.
  • Referral bonus: Once you become a player, you can also refer your friends for extra cash. A good referral deal means that you get between 10% to 20% of your friend’s first deposit with your sportsbook.
  • Match-play bonus: This is a one-time bonus, and these funds you can just use once, win or lose. So, let’s say you get a $200 match-play bonus, then you need to wager those $200 as a single bet.

There are always restrictions related to each type of bonuses, and so it’s always important to consult with your sportsbook about the particular conditions for each one of them.

Online Sports Betting: Step 3. Place A Bet

Next in our online sports betting guide, info on how you can place a wager. Here’s an example of how to bet on American football (if you’re interested in soccer, here’s a great guide with free football betting tips):

Straight Up or SU

This is an online sports betting prediction on a team to win. So, you’ll see a line that reads something like Buccaneers -550 / Lions +550. Here, the current super bowl champs are the favorites, and so, if you want to make $100 on Tampa to win, you need to bet a total of $550. If you win, you get a return of $650. if you lose, you lose your $550.

NFL Point Spreads

Now, let’s get familiarized with NFL online sports betting and the point spread. When you see a line that reads Bucs -7 / Lions +7, this is known as point spread betting. And this is how bookies create a balance between a good and a bad team. So, let’s say you place a $110 bet to win $100 on Tampa, then, your team must not only win the game, but it must win by 7 points or more.

If the Buccaneers win the game, but by less than seven, you lose your bet. And, if you place a bet on Detroit +7, then that means that your team can lose, but not by more than 7 points, and you still win your bet. If the Lions lose by more than seven, you lose your bet.

Total Over/Under

You can also make an online sports betting prediction on the total of the combined scores for both teams at the end of the game. So, let’s say that you find a 44 O/U wagering line. This means that you can bet the game to go over or under 44 points, and you lose or win your wager accordingly.

Parlays

Online sports betting parlays are combined single wagers into a large bet prediction., So, you can combine different selections, up to 12, and how much you make depends on the number of wagering predictions you add.

What’s great about parlays is that you can make a small $10 with the option of winning hundreds or even thousands of dollars. The more selections, the more you win, because the larger is the risk of you losing your bet.

Teasers

An online sports betting teaser is just like a parlay, but is more in your favor, as you can add or subtract points from spread wagering lines.

Now, you get to win less cash with a teaser as you’re twisting the bet in your favor, so consider this factor when placing one of these bets.

Props

Online sports betting props are really fun bets to make. And this is because props can be created virtually out of anything.

The most famous of these are super bowl props, which can go from the coin toss decision at the beginning of the game, to the color of the Gatorade that will be thrown to the winning head coach, and everything in between.

We hope you’ve enjoyed this fast and reliable online sports betting guide, good luck with your wagering action!