Sports betting is simply wagering money on the outcome of sporting events. Think of it like making a prediction with your friends, except you're putting real money behind your opinion and can win more than you risked.
When you bet on sports, you're essentially buying a prediction from a sportsbook. If your prediction is correct, you win money based on the odds. If you're wrong, you lose your stake.
The key thing to understand: sportsbooks aren't charities. They make money by setting odds that give them a mathematical edge over time. This doesn't mean you can't win — plenty of people do — but it does mean you need to be smart about it.
Odds tell you two things: who's favored to win, and how much you'll profit if your bet wins. In the US, we use "American odds" which look like this:
| Team | Odds | Meaning | $100 Bet Pays |
|---|---|---|---|
| Lakers | -150 | Favored to win | $166.67 total ($66.67 profit) |
| Warriors | +130 | Underdog | $230 total ($130 profit) |
Don't worry if this feels confusing at first — everyone finds odds weird initially. The important thing is understanding that negative odds mean favorites (lower risk, lower reward) and positive odds mean underdogs (higher risk, higher reward).
There are dozens of ways to bet on sports, but beginners should start with these four:
Pick who you think will win the game. That's it. No point spreads, no complications. If your team wins, you win. This is the simplest bet and perfect for beginners.
The sportsbook gives the underdog a "head start" to make the bet more balanced. If the Lakers are favored by 5.5 points (-5.5), they need to win by 6 or more for you to win. If you bet the Warriors (+5.5), they need to either win outright or lose by 5 or fewer.
Bet on whether the combined score of both teams will be over or under a certain number. If the total is set at 215.5 and the final score is Lakers 112, Warriors 108, that's 220 total points — the Over wins.
Combine multiple bets for a bigger potential payout. All your picks must win for the parlay to hit. More risk, but much higher rewards.
Not all sportsbooks are created equal. Here's what matters most for beginners:
Only bet with legal sportsbooks in your state. These include DraftKings, FanDuel, BetMGM, Caesars, and others. They're regulated, your money is safe, and you'll get paid when you win.
You'll be using their mobile app constantly. Look for clean interfaces, fast loading, and easy bet placement. DraftKings and FanDuel generally have the best apps for beginners.
Small differences in odds add up over time. A line might be -110 at one book and -105 at another — always take -105. Consider opening accounts at 2-3 sportsbooks to compare.
Most books offer signup bonuses like "Bet $5, Get $150 in Bonus Bets." These are free money, but read the terms carefully. Bonus bets usually expire and have restrictions.
This is the most important section in this guide. More people lose money from poor bankroll management than from bad picks.
Your bankroll is money you can afford to lose completely without affecting your life. Think of it like entertainment money — the same way you budget for movies or restaurants.
A "unit" is your standard bet size — typically 1-2% of your bankroll. If your bankroll is $1,000, one unit should be $10-20.
| Bankroll | Conservative (1%) | Moderate (2%) | Aggressive (3-5%) |
|---|---|---|---|
| $500 | $5 | $10 | $15-25 |
| $1,000 | $10 | $20 | $30-50 |
| $2,000 | $20 | $40 | $60-100 |
Keep a simple spreadsheet with every bet: date, game, bet type, amount, odds, and result. This helps you learn what's working and what isn't. Most people think they're better at betting than they actually are.
Ready to make your first wager? Here's the step-by-step process:
You lose a bet and immediately try to "win it back" with a bigger bet. This is how small losses become big losses. Stick to your unit sizing no matter what.
Your favorite team isn't always the smart bet. Try to separate your emotions from your betting decisions. Sometimes the best bet is against your team.
Parlays are fun and offer big payouts, but they're much harder to win. Don't make them your main bet type — use them sparingly for entertainment.
Different sportsbooks offer different odds on the same game. Getting -105 instead of -110 saves you money on every bet. It's worth having accounts at multiple books.
Quality over quantity. It's better to make 2-3 well-researched bets per week than to bet every game on the board. More bets = more opportunities for mistakes.
Sports betting should enhance your enjoyment of sports, not create stress or financial problems. Here are some important guidelines:
Most sportsbooks let you set daily, weekly, or monthly deposit and loss limits. Use them. It's easier to set boundaries when you're thinking clearly than in the heat of the moment.
Credit cards, loans, money borrowed from friends — none of this should fund your betting. Only bet with money that's already yours and that you can afford to lose.
If you're on a losing streak or feeling stressed about betting, take a break. All sportsbooks offer "cooling off" periods where you can temporarily restrict your account.
Be honest with yourself about these red flags:
If you recognize any of these patterns, consider reaching out to resources like the National Council on Problem Gambling (1-800-522-4700).
Now that you understand the basics, here's how to continue your sports betting education:
Remember: this is a marathon, not a sprint. The goal isn't to get rich quick — it's to find a sustainable way to make sports more entertaining while potentially making some money along the way.
Ready to dive deeper? Our betting guides cover everything from basic concepts to advanced strategies.
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