What Is a Sportsbook and How Do I Get Started in Betting?
New to sports betting and found yourself wondering, “what is a sportsbook?” Read our guide to sports betting to learn how to get started!
Over 46% of Americans have an interest in sports betting. If you’re one of them and are looking to start gambling on sporting events, teams, and players, you likely are wondering: what is a sportsbook, exactly?
Here, we’re going to look into what sportsbooks are and how you can start betting with them. Read on for more information on how to bet on sports so that you can have fun and turn a profit ASAP.
What Is a Sportsbook?
A sportsbook is a place that takes bets on sporting events. When a gambler wants to place a bet on an event, team, or player, they can take that bet to a sportsbook.
The sportsbook will have clearly labeled odds and lines that you can take a look at. You can choose to bet on teams with high odds if you want a higher chance of winning something.
However, favored teams generally have low payouts, so some people prefer the thrill of riskier bets. Betting on a big-time underdog can get you a lot of money, but the bets are harder to win. The betting strategy is up to the specific gambler, but it’s on the sportsbook to give you all the information.
The agent (a.k.a bookie) that operates the business will accept the bet assuming that it fits within their guidelines and parameters. Make sure to read the fine print to ensure that you’re operating within their rules. Once they take the bet, the bookie will hold onto it until results come in.
If you win your bet, the money will be returned to you in addition to your winnings. If you lose, you won’t get your money back. The bookie pockets it and turns a profit.
In-Person vs Online Sportsbooks: The Basics
There are two types of sportsbooks that players can choose from.
In-person sportsbooks are generally less convenient. You’ll need to find a bookie online or via a gambling network of friends and acquaintances. You then will need to meet up with a bookie and hand them your bet in the form of cash or a check.
This is inconvenient and can be a challenge, but in some states, it’s the only legal form of sports betting. While over 30 states have legalized sports betting, only 22 allow online bets.
This is annoying, but most in-person sports betting is available at casinos that you might enjoy going to anyway. Shady back-alley deals are largely a thing of the past before the federal sports betting ban was lifted.
However, if your state does allow online betting, you’re in luck! It’s easy to find legal sportsbooks online that operate within your jurisdiction. All you need to do is search the web for popular betting websites and assess each of these online sports betting platform options.
The Benefits of Online Sportsbooks
There are tons of advantages to online sportsbooks that in-person alternatives can’t match:
Convenience
Mobile compatibility so you can place bets anywhere
Bonuses and promotions
Secure cryptocurrency payment options
Tons of sports betting options within one sportsbook
Optimized and frequently-updated odds
Quicker payout since you don’t need to go collect it at a physical location
Take a look at your state laws and ensure that you have legal online sports betting. This is always the way to go if you’re looking to get into sports betting.
How to Choose the Right Sportsbook for Betting
There are tons of awesome reasons to start betting on sports:
It’s fun and entertaining
You get a great adrenaline rush
You can engage with the sports you love in new ways
It’s completely legal in most states (and is about to be legalized in many more)
Legal regulations make it safer than ever before
There are tons of different games you can choose from
You can make a lot of money over time by betting on games with high odds (regardless of payout amount)
If you like sports betting, you may even be able to make a career as a professional gambler!
However, in order to reap these benefits, you need to choose the right sportsbook to meet your needs.
Consider What Sports You Want to Play
The first step to choosing a sports betting platform is to determine what sports you want to bet on. There are tons of options including football, soccer, baseball, basketball, horse races, and hockey. You likely will simply bet on the sport that’s in-season and has major events coming up.
However, most people like to bet on specific teams and players. If this describes you, examine your options and see which platforms let you put down the bets you want to place.
If you plan to bet on a wide array of games, make sure that you choose a sportsbook that offers a lot of betting options. Once you know what you’re looking for, it’s easy to find the right fit. However, if you don’t know what you’re looking for, that’s also fine – you’ll just need to do some research in order to decide.
Determine Deal-Breakers
After you know what you’re looking for, it’s important to determine what deal-breakers can stop you from betting on a sportsbook. For example, maybe it’s important that you’re able to bet on college football games. This constitutes a deal-breaker so that you can rule out sportsbooks that don’t offer college football betting.
Not all deal breakers will be about the sports you’re betting on. You may want to only fund your account with a specific payment platform like PayPal or Venmo. Many people are currently looking for Bitcoin payment options, so not taking crypto payments may be a deal-breaker.
Jot all of these deal-breakers down on a piece of paper so that you don’t forget about any of them. Be meticulous when checking to ensure that a sportsbook meets all of your criteria.
Talk to Others Who Bet on Sports
If you have any friends or acquaintances who enjoy sportsbooks, they can be a great resource when you’re looking for sports betting information.
Ask them about the platforms that they’ve tried out and get the pros and cons of each. See which ones they’ve stuck with and enjoy regularly. Ask them what made these platforms stand out. You’ll have the chance to ask them any questions that you have so you can feel more confident in your decision.
If you don’t personally know anyone who bets on sports, you can also go to online forums and talk to other sports enthusiasts. They’ll give you the run-down on different sportsbooks.
Read Reviews
Online reviews are also a good source for those looking to learn more about specific sportsbooks. You can learn what players liked and what they didn’t. You can also look into player experiences to ensure you choose a reputable sports betting platform.
If you don’t know where to start looking into sports betting options, take a look at the top offshore sportsbooks. You’ll find links to websites and reviews here. You also can get a run-down of the bonuses and features that each sportsbook offers so that you can make an informed decision.
Try Sportsbook Demos and Trials
After you narrow your list of possibilities down to a couple of options, it’s important to experience what you’ll get with each remaining sportsbook. Most platforms offer a sports betting tutorial and a free demo or trial. This will let you try out the platform and decide whether or not it’s right for you.
Once you determine a favorite, you can link your eWallet to the site. At this point, you can take advantage of bonuses and start betting. Have fun!
More on How to Bet on Sports
So, what is a sportsbook?
In the most basic terms, it’s a place where you can bet on sports teams, players, and events. More importantly, though, it’s a place where gamblers can flex their critical thinking skills, analyze trends, and make a lot of money.
Now that you’ve read the best sports betting guide on the web, it’s time to get started with the betting process. Check out our “technology” page to learn some of the ways you can begin playing with online sportsbooks. You may also be interested in the “strategy” tab if you want to be more analytical and successful at sports betting.
