Over the past few months, we’ve posted quite a few articles on sports betting. We posted three guides to cover the basics on handicapping baseball, basketball and football, but these didn’t nearly cover everything a beginner would need to know. We’ve also posted articles that cover basic terms, as well as other assorted betting tips. Sep 07, 2020 Similar to our guide to NFL betting tips, we wanted to put together a little piece that explains some of the basic things you need to know about sports betting before putting your hard earned cash on a game. Sports Betting Tips For Beginners. How does a spread work? In games like football and basketball you’ll see two teams listed. The only bankroll management strategy that you need in sports betting is the one that I discussed in point #3. You can’t beat sports betting through manipulating wagers – you can only win through skill and research. Some of these strategies can even ruin your bankroll, such as the Martingale when you go on a cold streak.
If you like betting on sports teams from New York, you’ve got a lot of choices. Such a huge state also means a lot of teams to follow. Heavy favorites like the Yankees are a much safer bet than consistent underdogs like the Mets; so do you want to go for the safe, modest payday or bet on the underdog for a super-sized win? Our betting tips about NY sports teams should help you figure out which bets to make and which ones to avoid. Find out more in the following articles.
How Do You Place a Bet?
Many bettors need to first understand how to place wagers by understanding how to read the odds being offered. Odds are set by using complicated algorithms to determine the outcome of a game. Bookies also take into account what the general public will be placing their bets on to determine these various odds.
Many bettors make the common mistake of betting on their favorites to win, often miscalculating that the best odds may be on the underdog. Bettors take into account the more recent results instead of looking further back into historical performances and taking a longer view of a team’s overall performance.
Understanding “American Odds” is vital to making the most of a wager and getting those best odds. Let’s use the Mets and the NY Giants as an example:
The sign in front of each odd shows whether you will win more money than you have wagered or less than your wager. A listed odd with a ‘-’ sign shows a bettor how much you need to wager in order to win $100. In this example, it means you need to bet $140 in order to win $100.
A listed odd with a ‘+’ sign shows a bettor their potential win on a $100 bet. Based on the example above, a $100 bet on the Mets would result in a payout of $120.
Online Sportsbook Betting Site
Where to Find Interesting Odds in NY
Online sports betting can be a very confusing art to master for many sports fans looking to place wagers. There are so many factors to understand, one of them is definitely how to find true betting value. This comes with time, patience and practice.
Value Betting essentially is when you bet when the perceived risk-reward ratio is slanted in your favor. We have discussed above the myth of placing wagers on the favorite to win, the stronger team is often considered to be a ‘safe bet’. Many times though, the value bet would mean high odds when backing the underdog.
Many bettors will shy away from backing the underdog, perceiving the risk to be too high as they go about betting and wanting to place wagers. But it’s best to bear in mind that an “underperforming” team receiving a large point spread by a bookie does not have to ultimately win the game. They only need to lose by less than the actual points that it is receiving.
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This is highly doable, as many times the favorites to win is focused on reducing the risk of injury and winning the game, not on covering the point spread.
This is just one way that bettors can understand the best odds in value betting.
Different Types of Bets for Different Players
As already mentioned, sports betting provides bettors with an almost endless variety of the types of bets they can wager on. From straight bets, total line bets, over/under bets, money line bets, point spreads and handicap bets, parlay bets, teaser bets, futures and outright bets and so forth. The list is endless.
This can be very confusing for inexperienced and even experienced bettors. It all comes down to the bettor, their understanding of the sports and their deep knowledge of various betting types on offer.
Again, this is where experience and practice will stand you in good stead. For beginners, we feel that it’s best for them to focus on a sport they understand well. Let’s say that is Basketball and to bet on teams that they have deep knowledge of the teams, the NY Knicks and the Brooklyn Nets.
Next is to understand the types of bets on offer for various events and their odds and betting value. Take it slow and never bet more than you can afford to lose. Learn from your mistakes and soon enough you will be confidently placing wagers and winning money.
How to Choose an Online Sportsbook
Choosing where to place your bets online can be overwhelming for many bettors. We have put a lot of time and effort into reviewing some of the top online sportsbook sites for our New York bettors. The best thing to do is to read the reviews and understand what each bookmaker is offering.
The reviews all focus on what we believe are the main criteria for making the most informed decision. Many bettors may choose to use one site for their Football related bets and another for their Basketball related bets. However, you choose to approach it, make sure that the site is offering the markets and types of bets you are looking for.
Checking the Right Criteria
When you are deciding on a sportsbook site always look at the following criteria:
Does the Sports Betting site offer a Welcome Bonus for signing up? If so, is it competitive, compared to the other operators online?
Does the sports betting operator offer competitive odds for wagering on?
Is there a number of markets on offer, that patrons can place bets on?
Are there various promotion on offer? Do the promotions cater toward new customers only, or do regular players also benefit from promotional offers?
Is there a safe and secure way to enjoy banking methods on offer at the sports betting site under review? Do they offer SSL encrypted technology? This should be a standard offering for any reputable sports betting site.
Will there be live streaming on sports events offered by the sports betting operator? This will indeed be a great way to get in on the sporting action.
Is the website responsive? Does the sports betting platform offer a robust feel and allow for easy navigation? This should definitely be a determining factor towards deciding if the sports betting operator is yours to enjoy or not?
Quality of customer service
Can one get in touch with the sports betting customer team readily and easily? Is there an open-door policy where patrons can ‘stop by’ for some advice or even just to say ‘hi’?
Another approach is to sign up for an account and take advantage of any Welcome Bonuses on offer. This will give you the opportunity to place real money wagers and get a feel for the site. This is a good approach to take before continuing to place your bets there in the future.
Where to bet on Sports in NY
So, you live in the state of New York? And you are passionate about sports? Are you looking for the best option to place a wager or two on all your favourite sports teams? New York has some incredible teams to support: the Brooklyn Nets, the Yankees, the Mets, the NYGiants and so much more.
Do not worry, we are here to inform you on what is the latest news regarding online sports betting in NY and to help point you in the right direction. As of this moment, there are still many legislative hurdles to overcome regarding online betting in NY.
The decision rests in the hands of the courts, they need to determine if NY can move ahead with online sports betting without having to amend certain sections of the constitution.
Whist this debates continues in court it leaves us in a “grey” area – here are a few possible options for you to take note of when that legislation is finally passed.
NY Top betting addresses, check our reviews below:
As soon as we know more, we will update you here, so keep current on what is happening in New York with online sports betting.
All in all, it is advised to check out the various sports betting operators available out there and be sure to check the various competition before committing to your preferred betting operator.