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  • Updated: July 12, 2021

Learn the Ins and Outs of Sports Betting

Sports betting may be just up your alley if you're interested in making some extra cash while supporting your favorite teams. On the other hand, betting is a sport that requires a special skill set and expertise to compete.

With sports betting becoming legal in a number of states, millions of sports fans will be eager to try their hand at betting for the first time. But where do you start if you don’t know your way around?

Do your research

Before you register with Betway sports betting, make sure you grasp the basics, such as placing bets and handling your payment. It would be best if you also familiarize yourself with your state's sports betting rules. Ensure you're well-informed on the predictions and how the teams perform before you place your wagers.


Understand the various types of bets

One of the most basic wagers in sports betting is the moneyline bet. Simply put, you're predicting whether a team will win or lose. If your team wins, the positive and negative values are used to determine the reward. The positive figures indicate how much money you'll win if you back an underdog. The negative numbers indicate how much you must wager to win when betting on a favorite.

You wager on whether the combined scores will be over or under a projected score with totals, often known as over/unders. Another form of bet is a parlay, which allows you to combine numerous bets into a single wager to reduce your risk while increasing your payoff. The larger the payoff, the more bets you combine; but, if you lose one, you lose them all.


Begin with a small step

If you're not ready to put a wager yet, you may still have some good time by participating in single-game fantasy events. Here you can utilize your sports knowledge and abilities to compete for cash and experience later with reputable betting sites like Betway.


Set aside funds for wagering

Sports betting can be a costly pastime, and given the unpredictable nature of sports, you can never be sure of a win. That is why you should only gamble with money you can afford to lose. Make sports betting budget that won't interfere with your capacity to pay your bills or meet other financial commitments.


Use tools that are easy to use

There are resources available to help newcomers to sports betting get up to speed. There are so many dedicated online guides offering information like terminologies and how to compute odds. A tool like the Bet Calculator, for example, can let you test alternative wagers if you're not sure how your bet will payout. You may pick the amount you wish to wager, the odds you've been given, or test to see how much you could win with the current odds and stake. The Betway platform has everything clearly spelt out for beginners to understand.


Understand your limits

It's tempting to get carried away with the excitement, so set a spending limit before looking at the available bets or odds. Avoid investing too much money into any one game and restrict your bets to sports you are familiar with. Betting without understanding the game, the teams, or the capabilities of its players is not a good approach.

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