These are the things to know before you start betting online.
Key Points
– Before betting online, it pays to know what you are getting into.
– Inexperienced bettors should know that sportsbook bonuses are not free.
Things to Know Before You Start Betting Online
If you’re a sports bettor who doesn’t have much experience betting online, you should be aware of a few things before you do. Starting out with online sports books is pretty straightforward.
Bettors should still take some time to learn what to do and what to avoid before diving in. Here, we take a look at a few things any bettor should know before starting to bet online.
Betting Online Is Not Legal Everywhere
The laws, rules, and guidelines governing sports betting differ from place to place and seem to change on a daily basis. The bottom line is that there are areas where online sports betting is legal and areas where it isn’t.
There are some jurisdictions where certain forms of sports betting are legal. Bettors can check with their state to find out if betting online is legal.
MUST READ: THE CASE OF BETTING ON HOME UNDERDOGS
Not All Online Sports Books Are Created Equal
Although it may be tempting to simply register at the first online sportsbook you come across, they aren’t all created equal.
Some sportsbooks are more trustworthy than others. Some have better lines and odds to offer. Most will offer a number of great bonuses that bettors can take advantage of.
Do your homework and find the sportsbook that fits your needs. Find out which sportsbooks are available in your area, how long they have been in operation, how their lines and vig stack up against other books, and what bonuses are offered.
Understand Betting Lines
Make sure you comprehend betting lines before placing a bet. This may seem like common sense advice, but inexperienced bettors can become confused.
Different sportsbooks may use different formats and reading and interpreting betting lines may be more difficult for someone less experienced. Not all sportsbooks display their odds and lines in the same fashion.
Deposits & Withdrawals
Just because you made a deposit, it does not mean you can withdraw. Sportsbooks are not banks. They are in the business of making money. Bonuses are one way to keep players betting at a sportsbook.
While they offer all sorts of deposit bonuses, bettors cannot simply deposit $100, get a $100 deposit match, and then think they are going to withdraw $200. It doesn’t work like that.
There are requirements to meet before withdrawing bonus money. For the most part though, bettors can withdraw winnings at any time. Reputable sportsbooks guarantee that winners can withdraw their winnings.
Once you’ve located a few sportsbooks, quickly check to see if they offer withdrawal options in your area. Contact the support team if you can’t find a solution or if you’re unsure. They can inform you of how other players in your area handle requests for cash out.
Bonuses Aren’t Free When Betting Online
Speaking of bonuses, keep in mind that bonuses are not free money. There are requirements attached to them.
To encourage new depositors to fund their accounts and begin placing wagers, the majority of online sportsbooks offer welcome bonuses. You might receive a match on your deposit or a free bet. Sportsbooks will offer anywhere from 25 to 100 percent for a deposit bonus.
For example, you deposit $100 into a new betting account. The sportsbook matches it with $100 in free bets. Sportsbooks will cap these bonuses at certain amounts.
Usually, the $100 in free bets is kept separate from your initial deposit. Bettors must meet certain conditions before they can access the bonus money. The majority of these requirements center on making a specific number of bets. Before making a deposit, you should read all of the terms and conditions.
Shopping for the Best Lines
In order to always bet with the best line available, it’s good to have at least two or three different online sportsbook accounts. The majority of games will share the same lines. However, occasionally lines will differ by a half-point or even a full point.
When this happens, you can take advantage of it to increase your season-long earnings. Getting an NFL point spread at -2.5 is much better than the same game at -3.
Watch Out If You Win Too Much
Remember, sportsbooks are in the business of making money. They don’t want you to win too much. Ideally, sportsbooks would like you to win about 50 percent of the time. That will keep you coming back for more and it will keep the sportsbook in business.
Can you make money betting on sports? Absolutely, and if you win too much, especially if you like big wagers, a sportsbook might put a cap on your bets. Let’s say you wager $500 or $1,000 on NFL games. You win a bunch of bets. Your sportsbook might put a max bet limit of $100 on you.
Worse, a sportsbook can suspend your account. Then, you can’t bet at all. Finding another sports book is your best option if this happens. Trying to circumvent the ban is not worth the hassle and risks involved. You risk losing your deposit if the sports book discovers that you attempted to open a different account or made bets through a different person.
Final Note
Sports betting online is secure, convenient, and simple. Bettors have to exercise some common sense and do their homework. Finding quality sportsbooks takes some effort, but there are plenty in the market.
Be sure to understand the basics of reading odds and lines. Understand the various bets and how to place them. Once you have that down, you’ll have no trouble starting to make online bets.
