How to Bet on Sports: Betting Education

Betting Education: What Are the Sports & Casino Basics?

If you’ve curious about online or in-person sportsbooks and casinos, you might find yourself overwhelmed about how much there is to learn. Even experienced players don’t know everything there is to know about betting. From the basic mechanics of popular games and bets to learning strategies on how to make the most of your money, there’s no end to the information available. 

Beginner

Getting started with your first online sportsbook or casino can be daunting. Fortunately, we have guides with all the information you need to know to dip your toes into the online betting pool.

Learn about foundational topics like how to read odds and manage your payroll, as well as the simplest types of bets you can place and games to play. Once you’ve worked through these guides, you’ll be more than ready to get started with the right online sportsbook or casino for you.

American Odds +/-

American Odds are the default odds at sportsbooks in the US. These odds are based on winning $100 for a given bet.

Point Spread

A point spread is a bet on the margin of victory in a game, which means a team must win or lose by a specific number of points.

Over/Under

An over/under is a bet on whether the outcome of a game will be above or below a certain number of points.

Moneyline

A moneyline bet is a bet on a specific team to win a game, by choosing either the favorite or the underdog. Margin of victory doesn’t matter.

Juice

Juice, also known as the “vig,” is the amount charged or taxed by a sportsbook for taking a given bet.

Units

A unit is a standardized way to compare win amounts between bettors while removing money.

Parlay

A parlay is a wager type in which multiple bets are linked together to create a greater payout. All “legs” of a bet have to win to cash the bet.

Pick'em

A “pick’em” refers to a game in which neither team is favored on the spread. It also means the spread, or margin of victory, is zero.

Push

A push is the result of a tie between the bettor and the sportsbook; the bettor is fully refunded.

Chalk

“Chalk” in sports betting refers to the betting favorite, more often a heavy favorite.

Backdoor Cover

A backdoor cover occurs when an underdog is trailing by more than the spread but scores points late in the game to cover.

Hook

The “hook” is the name for the last half-point of a non-whole number spread. For example, 3.5.

Casino Beginner Betting Guides

• How to Play Online Roulette: Tips, Tricks, and Strategies

• How to Play Video Poker

• 3-Card Poker Guide: How to Play, Tips, Strategies, + More

• Poker Glossary

• Poker 101: A Refresh of the Top-20 Hole Cards

• Casino Games with Best Odds: Blackjack, Roulette + More

• Online Roulette Glossary: Learn the Lingo Before Playing

• Online Blackjack Terms & Glossary

• Online Casino Glossary of Terms

• Craps Odds Explained: Guide to Understanding Odds

• Online Bingo Tips

• Online Casinos Terms & Conditions You Should Know

• Casino Etiquette

Intermediate

Once you’ve worked through our beginner betting guides, or if you’re a relatively experienced player who already knows the basics, you might be interested in learning about complicated games or betting strategies. Whether you’re looking for more value in your sports betting or interested in widening your repertoire of casino games, this is the place for you.

What is Hedging

Hedging is a strategy in which a bettor takes the opposite side of their original bet. The goal is often to minimize loss or guarantee profit.

Decimal Odds

Decimal odds represent the total return for every $1 wagered, including the money you risked.

Buying Points

Buying points is an option in which a bettor can improve the spread of a bet for a more expensive price or reduced payout.

Round Robin

A round robin bet allows you to create a series of smaller parlays from a larger list of teams or players.

Middle

Middle is a betting strategy in which a bettor places wagers on both sides of the same bet at different lines, attempting to win both.

Reverse Line Movement

Reverse line movement in sports betting is when a line moves away from the side receiving the majority of bets.

The Betting Market

A betting market is a type or category of bet on a particular sporting event. Sportsbooks often offer multiple markets on events.

Betting Exchanges

A betting exchange is a marketplace that allows bettors to wager against each other at lower fees than those offered by a traditional sportsbook.

What is a sharp

A “sharp” describes a serious, savvy, higher-spend sports bettor--someone who typically wins more than they lose.

Casino Intermediate Betting Guides

• Gambling Cognitive Biases: Definition and Examples
• Avoid These Common Blackjack Mistakes
• How to Win at Roulette
• Roulette Odds and Payouts Explained
• Casino Random Number Generator
• How to Play Texas Hold'em - Tips, Strategies, and Tactics
• How To Play Heads Up Poker: Strategy & Tips
• What Is House Edge and RTP?

Advanced

If you’re comfortable with just about every game in the casino or have tried your hand with all of the different sports betting markets, you might be wondering how to turn dollars wagered into dollars won more consistently or at a better rate of return. We have plenty of guides on how to turn good sports betting reads into the best possible value. We also have math-driven pieces on strategy for odds-based casino games. All of the content in this section can help you push your betting game from good to great. 

Key numbers NFL

Key numbers are important in football given the numerical scoring of field goals and touchdowns. These are usually grouped around 3 and 7.

Calculating Theoretical Hold in Futures

Theoretical hold expresses, in % form, the amount of money a book can expect to keep after paying out winning bets.

How to Remove Juice

Sportsbooks take a cut of what's wagered, called the juice or vig. To understand removing juice, you first need to calculate it.

Casino Advanced Betting Guides

• How to Count Cards in Blackjack
• Best Blackjack Strategy: How To Win at Blackjack
• Top Blackjack Tips to Improve Your Strategy and Chances
• Online Poker Strategy
• Pai Gow Poker Rules and Strategy Plus Hand Rankings
• Progressive Jackpot Slots Guide & Overview

Sports Betting Frequently Asked Questions

Where is sports betting legal?

Mobile and online sports betting is now legal and available in 13 states in the US, including Illinois, New Jersey, Colorado, Indiana, Pennsylvania and West Virginia. For the latest updates, you can reference our legalization tracker.

How much should I bet?

You should bet whatever you feel most comfortable with. This is a highly personal decision based on your risk tolerance and financial situation, but we’re advocates of responsible bankroll management.

Is online sports betting safe?

Online sports betting is safe if you’re using legal, trusted sportsbooks and betting responsibly. For more information about the best online sportsbooks and what each has to offer bettors, please check out our review of the best sportsbooks.

What is the best sports betting strategy?

The best sports betting strategy involves thorough research and analysis on the industry as a whole. Be sure to have an understanding of the teams, players, and historical performance to identify value bets. It's also crucial to manage your bankroll wisely, so set strict limits to avoid significant losses. Gamble responsibly!

What is the best strategy to win roulette at a casino?

There is no foolproof strategy to guarantee consistent wins in roulette since it’s  a game of chance. However, some players use the Martingale system, which is where you double the bet after each loss to potentially recover your losses over time. It's super important to set strict limits and remember that the house edge ultimately makes consistent long-term profit unlikely. Please always keep responsible gambling at the top of your mind.