Sports betting is a very popular form of entertainment enjoyed by millions of people around the world. Sports like football and horse racing are some of the most commonly bet on sports, especially in the U.K. However, across the pond, there are countless other sports with incredible viewings that many people are sometimes even unaware of. All of these sports are both great viewing spectacles but also great opportunities for sports betting, especially when your sport of choice may be on a break.
Today, we will explain how to bet on American sports and some of the most popular sports you can bet on. By the end of this article, we hope to shed light on the different sports betting opportunities available in America.
Understanding the Basics
Before you begin placing bets on different American sporting events first it’s important to understand the basics of sports betting. Sports betting involves placing a wager on the outcome of a sporting event. It is a popular form of gambling that adds an extra layer of entertainment to the viewing experience for many sports fans.
The odds in a bet represent the probability of a particular outcome occurring. They represent how likely an outcome is to happen and the amount of money you would expect to return based on your stake. There are many different types of odd types which we will look at later.
There are also many types of betting markets available and they differ between each sport. Many betting markets will remain consistent, however, some sports will have more niche betting markets you should keep your eyes out for.
American Odds
The most common odds types found in sportsbooks are fractional odds, decimal odds, and American/ moneyline odds. You can bet on American sports from anywhere in the world and you can use whichever odd format you prefer. However, traditional American sportsbooks would use the American odds format and as a result we feel developing your sports betting knowledge to include this could be useful.
American odds are presented as a positive or negative and represent how much would be won or lost on a £100 bet. Positive odds indicate the potential profit on a £100 bet, for example if the odds are +150, it means you could potentially return £150. Negative odds, however, indicate how much you need to bet to make a profit of £100. For example, if the odds are -150, it means you need to bet £150 to potentially win £100. Positive or negative 100 is an even bet.
Keep in mind that the total payout includes the initial bet amount and the potential profit. If you win you receive both your initial bet and the profit. If you lose, however, you lose the entire amount. It’s also important to note that while £100 is a common reference point, you can use any amount to calculate potential profits or losses based on the given odds.
American Betting Markets
As previously mentioned there are countless betting markets available for a wide range of sports, but the three most popular betting markets that are commonly used in most sports are point spreads, moneylines, and totals.
Point spreads are a common method of handicapping unevenly matched teams. In a point spread bet, a sportsbook sets a margin by which the favoured team must win to ‘cover the spread’. Conversely, the underdog can cover the spread by losing by less than the specified margin. This even the playing field for bettors.
Then there are moneyline bets which involve choosing a team to win outright, without any point spread. Each team is assigned odds, representing the amount you can win or need to wager to win £100.
Finally there are totals, otherwise known as over/ under bets. This bet type involves predicting whether the combined score of both teams will be over or under a specified number set by the sportsbook. Bettors can wager on the total points scored in a game, irrespective of the outcome or winner. This bet type can also be applied to many other aspects of a game such as total goals scored, points made, turnovers, tackles and much more.
Popular American Sports
America is home to countless popular sports for you to bet on but some of the most popular events include NFL, MLB, NBA, NHL, and NASCAR. The National Football League (NFL) is immensely popular, with the Super Bowl being one of the most-watched sporting events in the country. The NFL season runs from September to February, culminating in the Super Bowl. The National Basketball Association (NBA) is a major professional basketball league in the U.S. Basketball has a widespread following, with the NBA Finals drawing significant viewership.
Major League Baseball (MLB) is often referred to as America’s pastime. The MLB season runs from spring to fall, with the World Series determining the champion. Then there is the National Hockey League (NHL) which is the primary professional ice hockey league in North America. Hockey enjoys a strong fan base, particularly in northern states and regions with colder climates. Finally, there is the National Association for Stock Car Auto Racing (NASCAR) which has a dedicated fan base, especially in the southern and midwestern regions of the United States.
Sports Betting Strategies
When sports betting there are a few strategies that can greatly reduce risk involved in play. One strategy is arbitrage betting which involves exploiting differences in odds between different bookmakers to guarantee a profit. This strategy requires quick decision-making and monitoring odds across various platforms.
Another betting strategy is matched betting. Matched betting is a strategy used by individuals to profit from the free bets and incentives offered by bookmakers. It involves placing bets on all possible outcomes of a sporting event, utilising the free bets and promotions provided by bookmakers. This method is not based on chance but rather on mathematical calculations and hedging to ensure a guaranteed profit.
