Learn the fundamentals of sports betting, from understanding odds to managing your bankroll effectively.
Learn how to read and calculate different types of odds
The most common format in the US, using + and - symbols
+150: Bet $100 to win $150
-200: Bet $200 to win $100
+100: Even money (bet $100 to win $100)
Popular in Europe, shows total return including stake
2.50: Bet $100 to win $250 total
1.50: Bet $100 to win $150 total
2.00: Even money (bet $100 to win $200 total)
Traditional format showing profit vs stake ratio
3/2: Bet $2 to win $3 profit
1/2: Bet $2 to win $1 profit
1/1: Even money (bet $1 to win $1 profit)
Understanding the most common types of sports bets
Simple win/lose bets on which team will win the game
Example: Patriots -150 vs Jets +130
Bet $150 on Patriots to win $100, or bet $100 on Jets to win $130
Bets on the margin of victory with a handicap
Example: Patriots -7.5 (-110) vs Jets +7.5 (-110)
Patriots must win by 8+ points, Jets can lose by 7 or less
Bets on whether the total score will be over or under a set number
Example: Total 45.5 (-110)
Bet on whether both teams will score more or less than 45.5 points combined
Multiple bets combined into one, all must win
Example: 3-team parlay
Higher payout but all three bets must win to collect
Bets on specific events within a game
Examples:
• Player to score first touchdown
• Total passing yards
• Coin toss result
Long-term bets on season outcomes
Examples:
• Super Bowl winner
• MVP winner
• Division champions
Essential strategies for managing your betting money
Only bet with money you can afford to lose. Never use money meant for bills, rent, or other essential expenses.
Use a consistent unit size (1-5% of bankroll per bet) to manage risk and track performance.
Accept that losing is part of betting. Never increase bet sizes to recover losses.
Keep detailed records of all bets to analyze performance and identify patterns.
Compare odds across different sportsbooks to get the best value on your bets.
While tempting, parlays have high house edge. Focus on single bets for better long-term results.
Decide in advance when to stop betting for the day, whether winning or losing.
Stick to your betting plan and don't let emotions influence your decisions.
Avoid these common pitfalls that new bettors often make
Betting more than you can afford to lose is the fastest way to financial trouble.
Solution: Set strict limits and stick to them.
Increasing bet sizes after losses to try to recover money quickly.
Solution: Accept losses as part of the game.
Letting emotions cloud judgment when betting on your favorite team.
Solution: Bet objectively, not emotionally.
Not paying attention to how odds change before placing bets.
Solution: Monitor line movements for better timing.
Placing bets based on gut feelings rather than analysis.
Solution: Research teams, players, and matchups.
Using only one sportsbook instead of comparing odds.
Solution: Open accounts at multiple sportsbooks.
Steps to begin your sports betting journey responsibly
Select a reputable sportsbook from our recommended list. Look for good odds, bonuses, and customer service.
Determine how much you can afford to lose and stick to it. Never bet more than you can afford.
Begin with small bets to learn the process and understand how odds work.
Understand different bet types, odds formats, and how to calculate potential winnings.
Keep detailed records of all your bets to analyze performance and improve over time.
Follow your betting plan and don't let emotions or losses affect your decision-making.
Continue your education with these helpful resources