Sports Betting FAQ

On this page we have listed an extensive selection of frequently asked questions relating to sports betting in general and online sports betting. We've answered these questions in some detail, and provided links to additional information where appropriate.

Please note that all of these questions, and more, are also answered in one way or another in the different sections of our sports betting guide. If you're completely new to sports betting, and are looking to learn more about what it involves, you should probably take a look at our beginner's guide.

General Sports Betting FAQ: Answers

Is sports betting only for experts?

No, absolutely not. You don't need to be a sports expert, and you don't need to be an expert in betting. Part of the appeal of sports betting is that it's really easy to get started, and you don't need much knowledge to have some fun. Obviously you're chances of winning increase if you have a lot of sports knowledge or really understand betting strategy, but neither of these is a necessary requirement to enjoy betting.

Can I make money from sports betting?

Yes, definitely. If you're knowledgeable enough about the sports you're betting on, and have a fundamental understanding of betting strategy, then it's perfectly possible to be a consistent winner. It's not easy by any stretch of the imagination though, and does require significant time and effort.

What are the different types of odds?

The different types of odds often confuse bettors, particularly beginners. There are three main formats that bookmakers and betting sites use - decimal, fractional and moneyline. Decimal odds are increasingly becoming the standard, but fractional and moneyline odds are still widely used.

What are the different types of bets?

There are lots of different types of bets you can place, so we won't list them all here. Instead, we would suggest that you take a look at the following page where we explain them all in some detail.

What can I bet on?

You can bet on pretty much any sport, and any sporting event you want to. Modern bookmakers generally cover a very extensive range of different sports, especially when operating online, and they typically cover non-sporting betting markets too. These include things like politics, the weather, and even TV shows.

How much should I stake?

This is entirely up to you. The only absolute rule is that you should never stake any amount greater than what you're prepared to lose. There is NEVER a sure thing in sports betting, and every single bet you make is a risk.

If you're serious about your sports betting, and attempting to make a consistent profit, you should ideally have a proper staking plan in place that determines how much you stake on any given wager. You should also be sure to practice good bankroll management.

What is the best sport to bet on?

There's no correct answer to this question. If you're an avid golfing fan then golf is probably the best sport for you to bet on, but if you know absolutely nothing about golf then it obviously isn't. As a general rule, it makes sense to simply bet on whichever sports you know the most about. That isn't necessarily always the case though, as you also need to consider factors such as the number of betting opportunities a sport presents and how easy it is to make accurate predictions.

How do I choose my selections?

There wouldn't be many bookmakers still in business if there was a simple answer to this question. The obvious answer is of course to bet on what you think is going to happen, and this is exactly what most bettors do. Successful sports betting is more complicated than that though. There are a few factors you need to consider when choosing your selections, most notably the relevant odds.

How do I work on my betting skills?

There is so single correct way to improve your betting skills. There are all kinds of different things you can learn about. There are several essential skills you really should learn if you're serious about being a successful bettor, and you really want a solid understanding of various betting strategies too. The sports betting guide on this website is packed full of useful information and advice, and is as good a place as any to start.

What is vigorish?

Vigorish, or vig for short, is effectively a commission that bookmakers charge on every single bet that they take. It's not a direct charge in that you have to pay a fixed amount, but rather a cost that is factored into the odds that bookmakers offer. It's also known as juice or the over round. It is one of the main ways that bookmakers ensure they make a profit.

What is a value bet?

A value bet is the type of wager you should always be looking to place. It's essentially any bet where you believe the true probability of your selection winning is greater than the odds reflect. As a crude example, if you thought a team had a greater than 50% chance of winning an upcoming match, and you were offered even money odds (1:1) on them winning, that would represent a value bet. If you thought the team had a less than 50% chance of winning, it would be a "bad" bet.

What is a sucker bet?

A sucker bet is basically any wager that doesn't offer value. Quite literally, it's a wager that only a sucker would place. An example is a wager where the odds are significantly lower than the true chance of the relevant selection winning. A wager that offers worse odds than you could get by wagering on the same outcome in a different way is also a sucker bet.

Should I pay for tips?

This is entirely your decision. If you think the person selling you tips knows what they're talking about and you can make money from their tips, it may be worth doing. The reality, though, is that the majority of tipping services are useless. We wouldn't say that you should never consider paying for tips, but a much better approach would definitely be to try and become a skilled and knowledgeable bettor yourself.

What is fantasy sports betting?

Fantasy sports betting is an entirely different way to bet on sports. You don't bet on the outcome of sports events, and there are no odds involved. It's more of a competition than a form of betting really, but the term fantasy sports betting is what's used.

The idea is that you pick a team of fantasy players, from a pool of real players, and enter that team into a fantasy league (usually for a fee). Your team scores points based on how well the players you've picked perform in real games, and you can win prizes based on how well your team scores relative to the other teams in the league.

Online Sports Betting FAQ: Answers

How do I bet for real money online?

Betting online for real money is very straightforward. You just need to open an account with a sports betting site, deposit some funds, and start placing bets. That's all there is to it really! Most sites are very easy to use, and they usually have a helpful customer support department who can assist you with any queries you may have.

Are there advantages to betting online?

There sure are! It's very easy for one thing, and it's also very convenient. You will frequently find better odds and lines than traditional bookmakers offer, and there's usually a wider range of betting opportunities too. You can even get some extra value through bonuses and rewards.

Is it legal to bet online?

This depends. The laws relating to online betting are not universal; they vary in different parts of the world. Online gambling legislation in most countries relates to the companies running sites rather than the individuals using them though, so it's rare that it's actually illegal to place a bet over the internet. With that being said, it's always a good idea to check your local laws for yourself before betting online.

Is it safe to bet online?

Online betting is perfectly safe providing you use sites that are reputable and trustworthy. There are several well-established and dependable sites you can bet at, so there is no real reason you shouldn't be safe.

Which sports betting site should I use?

The answer to this is different for everyone. It depends on where you live, which sports you want to bet on, and any other personal requirements you may have. You absolutely need to stick to reliable and high quality betting sites, but it's a really case of working out which one is best for you.

How many sports betting sites can I use?

You can use as many as you want. There are certain advantages to using at least two or three, but whether you really want to use any more than that is questionable. If you open accounts with a small selection of the leading sites, you should be set.

How do I deposit at sports betting sites?

Depositing at most sports betting sites is easy. You have to be logged into your account and then visit the relevant section of the site. This is usually labelled something like "Cashier" or "Your Account". You then just need to select which deposit option you want to use, enter the relevant payment details, and choose how much you want to deposit. Most gambling sites offer a wide variety of banking options for making deposits, typically including credit cards, debit cards, e-wallets and bank transfer.

How do I withdraw my winnings?

Withdrawing your winnings is basically just depositing funds in reverse. When logged into your betting account you just have to choose which withdrawal method you want to use and the amount you want to withdraw. You can usually withdraw using any deposit method you've used previously, or request a check to be sent out to you.

What is the smallest bet I can make online?

This depends on the site you're using, and may also depend on what you're betting on. The minimum bet at most sites is very low, so you're unlikely to have to bet more than you want to.

What is the biggest bet I can make online?

This will also depend on what site you're using and what you're betting on. The maximum bet at most sites is high enough for the average bettor, but if you do want to bet for particularly high stakes you can always contact customer support and ask for your limits to be raised. If they can't or won't do this, you can always spread your bet across a number of different sites.

Why do different sites have different odds?

Like any bookmaker, a sports betting site will set the odds for their betting markets as they see fit. Typically, the odds will be based on a combination of their opinion on what is likely to happen and the amount of money they have taken on any particular market. These two factors will vary from one site to the next, and this explains the differences between the odds at different sites.

The differences are unlikely to be hugely significant, but it can still be worth shopping around to try and get the best odds for all the wagers you place.

Why do sites offer bonuses and rewards?

Betting sites offer bonuses and rewards for two main reasons. First, they can be used as an incentive to encourage new customers to open an account. Second, they can be used as a way to reward existing customers for their betting activity and encourage their loyalty.

What is live betting?

Live betting, also known as in play betting, is a specific type of betting available at many gambling sites. It basically allows you to place bets during an event instead of before it starts, which opens up a whole new range of betting opportunities.

What is exchange betting?

Exchange betting is a form of online betting where you place wagers with other bettors rather than with a bookmaker. In practice it's not a much different from traditional sports betting, but it does offer a few advantages. Specifically, you're able to lay (bet against) selections as well as back selections. You can often get better odds too.