How to Bet on Sports – A Beginner’s Guide to Online Sports Betting

Learning how to bet on sports is a skill most avid sports fans need to learn. In this guide, we’ll teach you all you need to know to start placing bets on a wide range of sports. You won’t need to be an expert as we go through all of the basic bet types like moneylines, spreads, and totals.

We will also cover advanced betting strategies and tips on how to make your sports betting fun and profitable. In this guide, you’ll also learn about parlays, prop bets, and live in-play betting.

So, if you’re new to this, and want to know how to place sports bets, you’ve come to the right place!

Understanding Sports Betting Odds

When learning how to place sports bets, you’ll also need to understand how odds are presented and their function. Understanding odds is the difference between bettors who win money and those who lose money. Unsurprisingly, the American odds format is most popular in the US, with this using three-digit numbers complete with either a ‘minus’ or ‘plus’ sign. So, how do you read odds?

The minus sign indicates a betting favorite, while the accompanying number relays how much you’ll have to stake to win $100. Conversely, a plus sign is indicative of a betting underdog, while the associated number tells you how much you’ll win if you wager $100.

Using the aforementioned example of the Super Bowl clash between the Kansas City Chiefs and the Philadelphia Eagles, if an online sportsbook is offering the Chiefs moneyline at -125, that means you’ll have to wager $125 to win $100. Conversely, the latter can be backed at around +105, so a stake of $100 will see you bank $105 in profit.

American odds can also be used to reveal the implied probability of a particular outcome occurring. There are two separate equations for favorites and underdogs, they read as follows:

• For Favorites: odds/(odds + 100) x 100
• For Underdogs: 100/(odds + 100) x 100

If we use the odds referenced above, we can calculate that the Chiefs have a 55.55% chance of lifting the Lombardi Trophy. However, the Eagle’s odds imply a 48.78% probability of winning, and this knowledge can help you set the optimal stake amount.

Lewis Humphries

Sports Betting Expert

• 

Remember - It’s not just about the odds.

Calculating the implied probability will help you make more informed decisions when betting on sports. But you must realize this is not a surefire way to determine the match winner on the day. Always ensure you place responsible bets and limit your wagering to money you can comfortably lose.

Understanding Sportsbook Odds Formats and How They Work?

When starting on your sports betting journey, the first thing you need to understand is how odds work, and the different types of odds formats. There are three common odds formats, and these are American, Fractional, and Decimal.

American Odds

American odds are typically used in the United States and are usually calculated based on a $100 stake. They can be positive or negative, indicating either the amount you can win on a $100 bet or the amount you need to bet to win $100, respectively.

Example:

Suppose an NFL team has American odds of +150. This means if you bet $100, you’d win $150 if the team wins.

On the other hand, if the odds are -150, you would need to bet $150 to win $100.

Calculation:

For positive odds: Potential profit = (Stake * Odds) / 100. So, a $100 bet at +150 yields a profit of $150, for a total payout of $250. You would receive the profit on the wager plus your original stake.

For negative odds: Potential profit = (Stake/Odds) * 100. Therefore a $100 bet at -150 yields a profit of $66.67, for a total payout of $166.67.

Fractional Odds

Fractional odds are more often used in the UK, particularly for horse racing. They represent the ratio of the profit to the stake.

Example:

If you back a horse that is quoted at odds of 5/1, this means for every $1 you bet, you could win $5.

Calculation:

With a $100 bet on 5/1 odds, you would win $500 (5 * $100) plus your original $100 stake, totaling $600.

If you were backing a heavy chalk at 1/2 odds, then you have to wager $2 to win $1. This means a $100 wager would net you $150 or 50/100 in fractional odds terms

Decimal Odds

Decimal odds are popular in Europe and Australia. They represent the total payout rather than just the profit, including the initial stake.

Example:

Assume a soccer team has decimal odds of 3.00. This means for every $1 wagered, the total payout is $3.00 if the team wins.

Calculation:

With a $100 stake at 3.00 odds, the total payout would be $300 ($100 * 3.00), which includes your initial stake.

How to Place Your First Sports Bet

So you now know how odds work, let’s show you examples of how you would place a bet on a sportsbook site. We’ll share with you the process on a mobile device as most sports bettors now use their cell phones to place bets. We’ll use the top sportsbook platform BetOnline to explain how to place a moneyline, spread, and totals bet using the different odds formats discussed previously.

How to Place a Moneyline Bet on NFL Football Using American Odds

To place a moneyline bet using American odds on an NFL game, follow the simple steps outlined below:

1. Choose Your Event: Start by selecting the NFL game you want to bet on. For example, let’s say it’s between the Kansas City Chiefs and the Philadelphia Eagles.
2. Review the Odds: Find the moneyline odds for each team. For instance, the Chiefs might have odds of -121, while the Eagles might have odds of +101.
3. Select Your Team: Decide which team you believe will win the game outright. If you choose the Chiefs, you will need to bet $121 to win $100 (since their odds are -121). If you choose the Eagles, a $100 bet would yield $101 in profit (because their odds are +101).
4. Place Your Bet: Enter your stake amount (e.g., $100 for the Eagles or $121 for the Chiefs) on your chosen sportsbook platform and confirm your bet.

How to Place a Spread Bet on NBA Basketball Using Fractional Odds

To place a spread bet using fractional odds on an NBA game, follow the simple four-step process below.

1. Select Your Event: Choose the NBA matchup you’re interested in, such as the Golden State Warriors vs. Utah Jazz.
2. Review the Odds and Spread: Look at the point spread and the associated fractional odds. For example, the Warriors might be -6.0 (20/21), meaning they need to win by more than 6 points for you to win your bet.
3. Decide on Your Wager: If you bet on the Warriors to cover the spread at 20/21 odds, for every $21 wagered, you’d win $20 if they win by more than 6 points.
4. Enter Your Desired Stake: Place your bet by entering your stake amount (e.g., $100) on the sportsbook platform. This would yield a profit of approximately $95.24 if the Warriors cover the spread.

How to Place a Totals (Over/Under) Bet on Soccer Using Decimal Odds

To place a Totals (Over/Under) bet using decimal odds on a soccer match, follow the example below:

1. Choose Your Soccer Match: Select the soccer match you want to bet on, such as the Merseyside derby between Everton vs Liverpool.
2. Check the Odds for Totals Lines: Look at the over/under line and its corresponding decimal odds. Suppose the total is set at 2.75 goals, with odds of 1.86 for the over and 2.00 for the under.
3. Decide on Over or Under: Based on your opinion of past results between the two teams, choose whether you think the total number of goals scored will be over or under 2.75. For example, if you believe there will be more than 2.75 goals, select the over.
4. Place Your Bet: Enter your stake, such as $100, on the over 2.75 goals option. At 1.86 odds, a winning bet would return $186 ($100 * 1.86).

Types of Sports Bets Explained

Now that we’ve dealt with the legal complexities of sports betting in the US, it’s time to start exploring the fun side of wagering! Let’s start by looking at the most common and popular sports bets available, each of which strikes its unique balance between risk and reward.

Moneyline

Betting on the moneyline is one of the easiest ways to get started in sports betting. Thanks to its straightforward nature, it’s perfect for beginners – select the winner and collect if you are right.

That said, there are still some factors of this bet you must take into account, especially the impact of a potential draw.

• Only 29 NFL games have ended in a draw since 1974, so the moneyline is a two-outcome choice.
• In comparison, 30% of MLS matches ended in a draw in 2023, making moneyline soccer bets more complex.

Most online sportsbooks will offer a ‘Draw no bet’ option, which returns you wagers if the match ends in a tie.

Point Spread

Point spread (or handicap) betting is a little more complex than standard moneyline bets. Here, the focus is on the margin of victory rather than picking an outright winner.

Point spread betting uses a positive (+) and negative (-) numbers system to denote the favorite and the underdog.  Sportsbooks also quote these bets in half points to ensure there are only two possible outcomes. Let’s look at a real example of the Super Bowl 2025.

At the time of writing, Betonline has the Chiefs (-112) as favorites with a -1.5 spread. For this bet to pay, the Chiefs must defeat the Eagles by 2 points or more.

Prop Bet

Prop betting allows you to wager on specific events rather than the outcome of the match. This means you can play and win a prop bet on a particular team even if they end up losing the game.

The best online sports sites will have several prop bets on the same event. For example, basketball prop bets include individual player statistics like assists, rebounds, steals, and blocks. Team metrics also have props, like three-pointers made and team rebounds. In the NFL, wagering on passing, receiving, and rushing yards are all popular examples of prop betting.

Prop bets provide a certain level of flexibility that you wouldn’t be able to find elsewhere. You can combine several props on one ticket to increase your payout. We will cover this type of bet later in this guide.

Over/Under

The over/under is one of the most beginner-friendly bets available in online sportsbooks. The goal is to determine if the combined score in a game will be over or under a specified threshold. This means you can ignore everything about who will win the game.

Over/under odds have similar features to spread bets. Let’s look at two examples of Over/Under markets.

The first example is the combined total points, so in the 2025 Super Bowl, BetOnline was offering odds of -105 for both teams to score over 49 points in total, and odds of -115 for the combined total to be under 49 points.

The second example is the 1st quarter combined total points, so in the 2025 Super Bowl, BetOnline was offering odds of -112 for both teams to score over 9.5 points in that period, and odds of -108 for the combined total to be under 9.5 points in the 1st quarter.

Sportsbooks will offer either full-point or half-point totals depending on how close they see the match-up of the two teams.

Futures

Futures/outright markets have a long-term focus and apply to the eventual winners of a league or tournament. Examples of future odds are when you wager for NFL conference winners, EPL winners, or Super Bowl champions.

You can place futures bets at the start of the season and then wait it out to see if your bet succeeds. While it is difficult to predict the final outcome at this point, this is when you will get the highest potential returns and better odds on the favorite.

In the 2015-16 EPL season, a bettor placed a £20 each-way futures bet on Leicester and cashed out £108,703.41. The 5000/1 bet was made at the start of the regular season in August.

Live Sports Betting

Most reputable sportsbooks offer live betting, but some call it in-play betting. As the name suggests, these are wagers placed mid-game after the match starts. This leaves you with thousands of micro-opportunities to wager across all major sports.

You can bet multiple times on the same event. Let’s say you have a wager on the number of three-pointers made in the first quarter; you can observe how the game is going and place another bet for the 3rd or 4th quarter.

In-play bets are not the best way for beginners to learn how to place bets in sports. They require consistent stake sizing and keeping a close eye on the bet frequency, which new bettors may not be comfortable with.

Same Game Parlays

An SGP (Same Game Parlay) is a combination of two or more of the bet types we have listed above. More specifically, though, let’s look at a basketball match. On the same bet slip, you can bet on who wins the game, the total number of points, the number of three-pointers made, and so on.

The great thing about same-game parlays is that they are more convenient. You need only research form and stats about one game, but you have several betting opportunities. Multiple bets on one bet slip also increase the potential payout.

Popular Sports to Bet On

When you learn how to bet on sports, you’ll also see that there are multiple disciplines that you can wager on. Some sportsbooks cover more than 30 different sports, although the following are most widely represented in the US market:

Football

Football is one of the most popular sports to bet on in the US. In fact, the iconic Super Bowl is arguably the single biggest wagering event. The 2024 iteration of the NFL’s biggest game saw around 68 million Americans place a bet, with wagers totaling an incredible $23.1 billion! With the NFL still dominating the airwaves even in the offseason, those numbers are surely bound to trend up in the future.

Baseball

Baseball is also incredibly popular, with Major League Baseball (MLB) games generating huge sports betting volumes every single season. This sport also unlocks a large number of betting markets and props, many of which are available both pre-game and in-play!

Basketball

In July 2023, it was revealed that basketball was the most popular sport among US bettors. In fact, 52.7% of respondents to a survey revealed that they preferred to wager on basketball and the NBA, which unlocks significant betting markets and in-game micro bets!

Hockey

The National Hockey League (NHL) features 32 franchises, 25 from the US and seven from Canada. It’s an incredibly popular and widely bet on competition, while the Stanley Cup (which features four playoff rounds after the regular season) generates particularly high sports betting volumes.

College Football

College football is hugely popular in the US. The National Collegiate Athletic Association (NCAA) features three competitive divisions and thousands of young players. Bettors can wager on college games at all levels and across several different marketplaces. Many of these players go on to play in the NFL, too. Frankly, college football is a great scouting ground for NFL futures bets (think about the NFL draft picks)

Soccer

Soccer is now a hugely popular sport in the US. This has been ramped up by the arrival of the legendary Lionel Messi and Luis Suarez at Inter Miami. Americans can also wager on a host of international soccer tournaments. These events include the FIFA World Cup and the UEFA Champions League.

College Basketball

The NCAA also oversees three college basketball divisions, both for the men’s and women’s games. The men’s competition features some incredibly well-supported and recognizable teams, including UConn, Purdue, North Carolina, and Houston.

Horse Racing

Horse racing is another exciting sport filled with excellent betting opportunities. Though not as big as other US sports, horse racing events are among the most popular with sports betting fans. Triple Crown Events – including the Belmont Stakes, Preakness Stakes, and the Kentucky Derby in May always draw massive attention.

Professional Sports Betting Tips and Tricks for Beginners

Learning how to bet on sports is highly recommended. However, you must also understand how to bet smart on sports, as this can translate into superior returns and minimized losses over time. One of the first steps to successful sports betting is to understand sports betting terminology. So, here are some expert sports betting tips for beginners!

Common Mistakes to Avoid When Sports Betting

As a rookie sports bettor, there may be things that need to be learned, so we have outlined some of the common mistakes made by people who are new to sports betting. These tips will help you avoid some common mistakes.

1. Bankroll Management – Make sure to have a pre-determined bankroll and staking size per point. Not doing this can lead to irresponsible gambling.
2. Home or Away – In American sports, the teams are placed on the betting slip as the visiting team first and the home side second. Do not make the mistake of thinking the team on the left of the betting panel on your sportsbook is the home team.
3. Understand the Odds Formats – Make sure you know who is the favorite and who is the underdog. A favorite odds will be prefixed by the – sign and the underdog’s odds will be prefixed by the + sign. Newbies can mistake these two and place larger stakes than needed.
4. Use Your Head and Not Your Heart – A big mistake by newbie sports bettors is to blindly back the team they support. Take the emotion out of your betting, and base your picks around recent form and statistics.

Is Sports Betting Legal?

Betting on sports has certainly spread like wildfire in the US since May 2018, with the 38 states that have legalized the practice granting licenses to a finite number of applicants. You’ll encounter seemingly endless commercials and sports betting offers from licensed brands in these states, especially ahead of high-profile events such as the Super Bowl!

However, it was prohibited in the US at the federal level until May 2018, when the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PAPSA) of 1992. This allowed individual states to create fully regulated and taxed betting markets, with 38 jurisdictions following this course during the last five-and-a-half years.

Even in the 12 states that haven’t formally legalized sports betting, few have passed legislation prohibiting offshore sites. These entities, which include highly reputable brands like BetOnline, are based offshore and licensed by regulators in jurisdictions like Panama and Curacao, making them safe, secure, and viable in states like Georgia and Kentucky.

Responsible Sports Gambling Resources

Learning how to place sports bets should be a fun and social pastime. If you find a time when you become concerned with your sports betting, it’s important to seek help. Don’t worry if this is the case. There are plenty of responsible gambling resources and charities to help you regain control of your activity.

We’d recommend that you visit the National Council on Problem Gambling, which combines educational resources with practical help. You can also call ‘1-800-GAMBLER’ to speak to a counselor directly, while your state may also have specific agencies and charities that they work with.

The most important thing is that you remember to reach out for help. Sports betting should never be a source of stress or undue concern!

• Gamblers Anonymous
• Responsible Gambling Council

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How to Bet on Sports FAQs