How Does Sports Betting Work?
Sports betting at its core is a relatively simple concept. You place a bet on the outcome of a specific sporting event and win if you guess the correct outcome.
For example, let’s say you’re a fan of the Premier League and want to add a little extra incentive to your viewing experience for a certain match. If you’re confident that one team is going to win, you can place a wager on that team to take home the three points.
But you aren’t just restricted to betting on the outcome of a match. You can also put down wagers on the number of total goals scored by both teams, or on a specific player to score a goal.
Read on if you want more detail into how sports betting works.
How to Bet on Sports
Want to learn more about how to bet on sports? Read our quick guide below to make your first bet in no time!
STEP 1: Choose a Bookie
Before you can make your first bet, you first must choose a site to bet on. When selecting a site, think about what aspects you care about in a sportsbook. Whether you want the best odds, great welcome bonuses, or top-notch market variety, make sure to make an informed decision based off your priorities.
STEP 2: Select a Sport
Find a sport that you want to wager on. This should preferably be a sport that you are knowledgeable about the rules of and currently up to date on the latest news.
STEP 3: Find a Market
Choose the type of bet you want to make whether it’s betting on the outcome of a match, betting on individual statistics, or combining market types across a simple multi-leg accumulator bet.
STEP 4: Research the Odds
With popular sports like football, you might have dozens, if not hundreds of matches to choose from on any given day. Make sure to use your knowledge, along with assistance from betting tools and calculators, to find the best match for you to wager on.
STEP 5: Place Your Bet
After choosing a site and crafting your ideal bet, think about how much money you are comfortable wagering and make sure not to go above that amount. Once you’ve settled on an amount, place your bet, sit back, and watch the match play out.
How to Choose the Best Sports Betting Site
Before you can wager on a sporting event, you first must find a sports betting site to bet on. With 500+ online sportsbooks in the UK, it can be hard to find the perfect bookie for your betting needs. Below, we’ve made a list of the main points you should consider when selecting an online bookmaker.
Licence & Reliability
The first thing you want to check when choosing a sports betting site is whether they are registered as a legal gambling operator in the UK. To make sure a sportsbook is reliable and fully regulated, confirm they have a non-expired betting license from the UK Gambling Commission.
Reputable betting sites will have their license information listed at the bottom of their homepage, which can then be cross-referenced with the Gambling Commission database.
Privacy & Security
Because they will have access to your personal and banking information, it’s incredibly important that any online betting site you register with has world-class privacy and security features.
Some features to look out for include HTTPS and SSL Certificate checks, which guarantee secure and encrypted communication, Face ID/Touch ID, which confirms that you are the only one who can access your account, and Two Factor Authentication, which ties your personal phone number or email in for an added layer of security.
The best sportsbooks will have all these features fully available, and it’s important to confirm the existence of these features before entering your personal or banking information.
Welcome Offer
If you’re a new customer at a sportsbook, few features are more important than a high-value welcome offer. On most popular online sports betting sites in the UK, you can expect to receive a free or risk-free first bet as a welcome bonus, usually ranging in value between £10 and £50.
But before you go out and choose the bonus with the highest monetary value, keep in mind that many welcome offers come with strings attached. Make sure to review the terms and conditions for restrictions such as minimum odds, minimum deposit amounts, and expiration dates, that may hinder you from earning your bonus.
Sports
All the largest bookmakers will offer a wide variety of sports to bet on, but some have better offerings in certain markets than others. If you have a particular sport you like to bet on, particularly in international markets, you should make sure to review each sportsbook’s offerings to make sure they have your preferred competitions.
And even if you aren’t particularly interested in betting on leagues around the world, it’s never a bad thing to have more variety. More betting options means more opportunities for finding quality odds.
Odds
Odds are the measure of how much you win compared to your initial bet.
In the UK, fractional odds are the most popular. For example, if you bet on the outcome of a match at odds of 3/1, you would win £3 for every £1 you bet.
Differing odds are perhaps the most important distinction between different bookmakers because of the direct correlation they have with your winnings. Remember, if one bookmaker has odds of 9/2 on a certain bet while yours only has 4/1, you’re losing potential pounds even if you win.
Mobile Betting User Experience
If you’re someone who is on your phone more often than your computer, you’re going to want to find a sportsbook that has a sleek and functional mobile app.
If you’re a mobile-oriented punter, you should download your preferred bookies mobile app before placing any bets to see if it has all the features you need. Pay notice to the layout, navigation speed, and the presence of essential features such as cash out and live streaming.
Payment Methods
If you want to be able to place any bets, you need to sign up for a bookie that has accessible payment options for you. Whether it’s debit cards, eWallets, or bank transfers, review each sportsbook’s available payment methods and find the one that bests fits your needs,
Some things to consider include minimum/maximum deposit and withdrawal amounts, processing times, as well as any added fees you might incur.
Customer Service
Even at the most popular and highly regarded bookmakers, the occasional issue will still arise. It’s important that you choose a sportsbook with a quality customer service infrastructure capable of handling these issues in a timely manner.
When you’re signing up with a new bookie, make sure to check their customer service options. Check to see if they have dedicated phone and email support, a detailed FAQ, and alternate forms of communication such as 24/7 live chat and social media help pages.
Important Online Betting Features
The most well-regarded online betting sites differentiate themselves from the competition thanks to the host of useful features they offer. Features such as cash out, bet builder, and live streaming serve as a testament to the quality of the bookmakers who offer them.
Read the section below to learn about how these important online betting features can improve your betting experience.
Stats & Scores
To make the most accurate and well-informed bet’s, you’ll want full access to the latest up-to-date stats and scores. All the most popular sportsbooks in the UK offer real-time stats and scores to all their customers for popular sports such as football, tennis, cricket, and basketball.
Cash Out
Cash Out is a helpful feature offered by many sportsbooks that allows you to settle your bet early, even if all parts of the bet haven’t finished.
Let’s use an example. Say you place a multiples bet on the outcome of three separate Premier League matches. Two of the games have finished in your favour, and the last one is at halftime with your chosen team leading 1-0. With cash out, you will have the opportunity to settle your bet early for a reduced payout, even if the final team goes on to lose.
Bet Builder
A bet builder is a useful tool offered by many top bookmakers that allows you to combine multiple bets across different betting markets into a single bet. It’s most seen in football betting but can be found in other sports as well.
For example if you want to bet on the half-time result, full-time result, and total goals scored in a particular football match, you can combine them into a single bet using a bet builder.
Live Streaming
One way the quality bookies separate themselves from the competition is with reliable and extensive live streaming services. Many top bookmakers will have live streaming available for sports like football, basketball, tennis, and horse racing.
Live streaming can be incredibly advantageous for attentive punters because it allows them to make informed betting decisions in real time, allowing them to perfectly time their bets with the ongoing action.
Types of Sports Bets
There is a lot more to sports betting than just wagering on the outcome of a match. If you’re interested in betting on more than just full-time results, follow along with us as we discuss the most popular betting types including accumulators, prop bets, live betting, and more!
Moneyline
A moneyline bet is the simplest form of sports betting and is simply betting exclusively on the outcome of a match. There are no other factors except the result in a moneyline bet.
For example, a football moneyline bet might give you odds of 1/2 for the home team, 4/1 for the away team, and 2/1 for a draw. No matter how many goals are scored or who they are scored by, your bet will win as long as you guess the full-time result correctly.
Accumulator
Accumulator bets, commonly referred to as accas, are bets that involve more than one selection over multiple legs, and often consist of four or more. You need to get every selection correct in an accumulator bet to win, making it a very high-risk high-reward form of sports betting.
Accumulator odds are calculated by multiplying the odds of each leg. For example, if you bet on the outcome of three football matches at odds of 2/1, 3/1 and 4/1, your total return would be 24x your initial investment (2 x 3 x 4).
Point Spread
Point spread betting is the most popular form of betting in the United States and is meant to project the outcome of a match but on a more even playing field. The spread of a match is an estimation of the margin of victory for the favoured team and is set by the bookmaker by assessing each teams’ strengths against each other.
For example, if the spread of a basketball game is -5 for the home team, that means the sportsbook estimates that the home team will win by five or more points.
Teasers
A teaser is a type of bet that is rarely found in the UK and European gambling markets but can be commonly found in the United States. It allows you to combine bets on two different games while also having the opportunity to adjust their point spreads. Because you are able to adjust the spread, teaser bets will yield a lower return in the event of a win.
For example, let’s say you want to bet on an American football match at odds of +2.5 for the home team and the over at a line of 44.5. With a six-point teaser bet, you can raise the odds by six to +8.5, and lower the over/under by six to 38.5, giving yourself better odds of winning.
Totals (Over/Under)
An over/under bet is a popular bet type that allows you to bet on the total amount of goals/points scored in a particular match.
For example, let’s say a World Cup match has an over/under on total goals at 1.5. If you bet the under, you will win the bet if there are one or fewer goals. And if you bet the over, you will win the bet if there are two or more.
Prop Bets
A prop bet is simply any bet that is not directly tied to the outcome of a game. Prop bets are usually tied to individual player performances or a team’s performance in a specific statistical category.
An example of a player prop bet would be betting on Jordan Pickford to make a certain number of saves in an England match, while a team prop bet could be betting on England to earn a certain number of corner kicks.
Prop betting is what brings variety to the sports betting landscape and is what allows knowledgeable punters to truly show their expertise.
Live Betting (In-Play Betting)
Live sports betting, also called in-play betting, is any bet that is placed while a match is ongoing. Live bets are not mutually exclusive with other bet types. You can make a live money line bet, a live prop bet, even a live accumulator bet. It has become an especially popular form of betting as of late with the rise of online live streaming.
Every popular bookmaker will have an “In-Play” section displayed prominently on their site to help you easily find matches to live bet on.
Futures Betting
Futures betting allows you to bet on events on a wider scale rather than just on a single match, such as league champions or individual award races. For example, betting on the winner of the Premier League or betting on the next Ballon d’Or winner would be examples of futures bets.
One reason that futures betting is so popular is that it allows punters to have money down over extended periods of time without having to make constant individual bets on specific matches.
Most Popular Sports Betting Markets
No matter what popular UK bookie you choose to bet with, you’ll always find a wide variety of sports to choose from. Below is a list of some of the common sports and competitions you can expect to find on your typical UK betting site.
Tennis: ATP Tour, WTA Tour, Wimbledon, French Open, Australian Open, US Open
Basketball: NBA, WNBA, FIBA, EuroLiga
Horse Racing: Kentucky Derby, Preakness Stakes, Belmont Stakes, Breeders’ Cup
Cricket: T20 World Cup, The Ashes, Indian Premier League, Caribbean Premier League
American Football: National Football League, NCAA College Football
MMA: Ultimate Fighting Championship (UFC), Bellator MMA, ONE Championship
eSports: DOTA2, Overwatch 2, League of Legends, CS:GO, Valorant, Rocket League
Sports Betting Tips
It’s easy to sign up for a betting site and place a few bets, but it can be a lot more difficult to consistently turn a profit as a punter. Read below for a few of our tips on how to improve your sports betting performance.
1. Technical Analysis
Being an expert in a certain sport will certainly go a long way towards making you profits, but it’s just as important to understand the technical side of sports gambling. And a key part of being a successful punter is having analysing the odds beyond your own knowledge.
Using tools centred around finding Sure Bets, Value Bets, and Dropping Odds will help you lead you towards potentially profitable bets. Also make sure to take advantage of online betting calculators so you can make informed and sound financial decisions.
2. Bankroll Management
Having the best bankroll management in sports betting is essential to making sure you’re generating long-term profit. Sports betting bankroll control is all about managing the careful balance of risk vs reward that is inherent in any type of betting.
One quick way to improve your sports betting bankroll control is to look at making a profit as a long-term process. You can’t try and make all your winnings on one risky bet. The punters with the best bankroll management in sports betting are those that aren’t overly aggressive with their funds and are willing to wait for the right bet to come along.
3. Emotional Control & Discipline
When a lot of money is involved, it can be easy to let your emotions make your bets for you. But a key to being successful in sports betting is that you can’t let your emotions cloud your judgement.
Emotional control in sports betting is all about bringing an analytical and rational approach to your wagers. Don’t let big wins get to your head and don’t start making worrying risks after incurring huge losses. Your bets should always be coming from a statistical standpoint after examining the odds and statistics yourself.
Sports Betting Terms & Acronyms
One thing that new punters might find daunting is the host of terms and acronyms that are specific to sports betting. To help you understand the terminology, we’ve provided you a list of some common sports betting terms and their meanings.
- Spread: The bookmakers estimate of a specific team’s margin of victory in a particular match
- PK: PK stands for pick’em, which is when both teams have identical odds to win a match, indicating no clear favourite.
- Each Way: Commonly found in horse racing, an each-way bet is a bet that is placed into two separate parts, a win bet and a place bet. Your selection must win the race for the win bet return, and must place within the predetermined places for a place bet to return.
- Over: A bet on the teams to score more than the given total in a particular match.
- Under: A bet on the teams to less more than the given total in a particular match.
- ML: Stands for moneyline, betting strictly on the outcome of an event.
- SU & ATS: SU stands for ‘straight uP’, as in betting on the outcome of a game rather than on the spread. ATS stands for ‘against the spread’, or how well a team does in comparison to the spread.
- OTB: Can stand for one of two things. ‘Off the Board’, which means the bookie is no longer accepting bets for that event. Or “Off-Track Betting” which is sanctioned bets on horse races that do not take place at a racetrack (e.g. on a betting site).
- Rollover: The amount you must spend at a sportsbook to withdraw your bonus money. Can vary greatly between sites and promotions.
- Draw No Bet (DNB): A type of football bet that removes the outcome of a draw.
- Odds: How much you can win in relation to your initial bet.
- Hook: The half point on a point spread. EX: The .5 in 6.5
- Parlay: A single bet with multiple legs.
- Handicap: A type of betting that provides favoured teams with a goal disadvantage to make bets on both teams relatively equal.
Sports Betting Frequently Asked Questions
Have a question about sports betting? Check out the answers to some of the most common questions from our readers below!
How to Win at Sports Betting
To win at sports betting you need to always make rational, analytical decisions. Consult betting tools and calculators, dive into the stats and analytics, and only bet when you think the odds are in your favour.
How Does Sports Betting Work?
Sports betting works by placing a wager on the outcome of a match through organisations called bookmakers. Bookmakers are the ones who set the odds on a particular match which determine your potential winnings.
What Does “+” and “–“ Mean in Sports Betting?
The + and – in sports betting indicate whether a team is a favourite or an underdog in a match. A team with positive (+) odds denoted an underdog while a team with minus (-) odds is the favourite.
Spread betting is still concerned with projecting the outcome of a match, but on a more even playing field. The spread of a match is meant to estimate the margin of a victory for a given team by assessing each teams’ strengths against each other.
How Do You Read Sports Betting Odds?
In fractional odds, the most popular format in the UK, the first number denotes your potential winnings while the second number represents the amount you bet. For example, if you had fractional odds of 5/2, you’d win $5 for every $2 you bet.
