Whether you enjoy the NFL, NBA, MLB or soccer, the thrill of a little profitable side action continues to be the best part of sports. Several online gambling sites offer real money sports betting for an additional layer of entertainment for all the major sports, all year long. From explaining what a moneyline bet is to simple tips for sports betting beginners, this guide is the perfect introduction to real money sports betting.
In this guide, you’ll learn:
This is the easiest real money sports bet one can make. First, pick which team or which athlete, like in golf, will win their game or contest. If they win, your betting slip is a winner.
An example of moneyline wager would look like this:
If you believe the 76ers (heavy favourites) are going to win, you’d have to wager $700 to win $100. If you believe the Pistons (heavy underdogs) are going to win, you’d wager $100 to win $450. It’s as simple as that.
A point spread bet is very popular when it comes to real money sports betting on NFL Sundays. While it’s more challenging for beginners, experienced sports bettors often prefer point spread wagers because the odds are typically better.
Here’s an example of a point spread wager:
If you believe the Browns are going to win, Cleveland must “cover 3.5-points” and win by 4-or-more points for your bet to win. If you believe the Dolphins can “cover +3.5 points”, then you think Miami will lose by three-or-fewer points OR beat the Browns straight up. If you believe they can beat the Browns outright, you may be interested in a moneyline bet where the odds are better.
Totals are a betting option that don’t depend on which team wins the game. Instead, they depend on the total combined number of points, runs or goals scored by both teams.
For example, if the Chiefs-49ers point total is set at 50.5, you can either bet that the combined score at the end of the game will be OVER 50.5 or UNDER 50.5.
So, if the Chiefs-49ers final was 25-24 and you bet the UNDER, your ticket is a winner because the combined total equals 49 points, which is UNDER the set total of 50.5.
Another real money sports betting option is a teaser. This type of bet allows you to pick three or more teams in three separate games but they must all beat a specific spread in order for your bet to win. Sports books give additional points over the regular spread for teasers. Teaser cards typically are offered with lower odds because of the more attractive spreads given to bettors.
Let’s use NBA games as an example:
For both the 76ers and Heat to cover and win by double-digit points is a lot to ask when it comes to an NBA wager. However, if we tease these two spreads down four points, to 76ers (-7) and Heat (-6) it becomes much more attractive. This now means if the 76ers win by 8-or-more and the Heat win by 7-or-more, the bet is a success! Since two outcomes were needed for the winning bet to occur, the odds improve to (+100) or EVEN money, where a $100 bet wins $100.
The real money sports betting parlay option allows you to bet on multiple teams, but each team must win in order for the bet slip to cash. However, because you’re taking on more risk, in the form of needing more teams to win, the odds are better.
For example, let’s say you want to wager on a three-team NHL parlay:
If all those favorites win each of their games and you bet $100 on the three-team parlay bet, the ticket wins $351.30.
If you think you know who is going to win the baseball’s World Series for MLB before the start of the season, a futures bet may be of interest. As the name implies, you are betting on a future event to occur.
For example, MLB World Series futures would look like this:
If you believe the Yankees will win the World Series, wager $100 and New York raises the trophy as season’s end, you would win $450. You would get your original $100 bet back and $350 profit of winnings. With baseball having such a long season, a lot of things can change and impact the odds throughout the year such as injuries, suspensions and performance.
This is the most common real money sports betting odds format found online. It’s the (+) / (-) odds shows in the examples above.
The (+) before a number indicates that team is the underdog.
The (-) before a number indicates that team is the favourite.
If a team is (+300), you risk $100 and that team wins, your bet slip cashes $300 and recoups the $100 wager.
If a team is (-300), you risk $300 and that team wins, your bet slip cashes $100 and recoups the $300 wager.
This odds format isn’t as common for real money sports bettors but does pop up occasionally.
If the Lakers’ decimal odds are 1.15 to win a game and you bet $100 on the Lakers, your ticket would earn the original $100 bet back plus $15 in profit if they win the game.
Fractional odds are very common in horse race betting. At 5/1, you’re looking at 5-to-1, at 10/1, you’re looking at 10-to-1. So, if you bet $100 on a horse with fractional odds of 10/1 and it wins, you would get your $100 original bet back along with $1000 (10x $100) in profit.
If you’re new to real money sports betting, be on the lookout for online sportsbook bonuses. Typically, when you first sign up for a new account, real money sports betting books will offer first-time deposit bonuses or promotions and occasionally your first real money sports bet is covered by the sportsbook. In other cases, if you reload your account wallet, online sportsbooks will reward you with additional funds and bonuses.
The best advice for an inexperienced sports bettor is to pay attention to your bankroll. Bankroll management is the key to enjoying sports betting from season to season. If needed, set a budget before each season and stick to it.
Be sure to do your research and avoid betting with emotion. Sure, you may love your Toronto Maple Leafs, but don’t let your fanhood cloud your judgement before placing a bet. There is a chance you may be biased with information and that can cost you in the long run.
Bet on what you know. If you don’t follow the NHL or NBA, don’t bet on that sport blindly. If you haven’t missed an NFL Sunday in five years, you may want to focus your bankroll in that market and capitalize on skewed odds.
You can make a sports bet in all 11 provinces and two territories, but be sure to check our provincial laws resource page for more information. The bottom line is you won’t go to jail for making a sports bet, even offshore.
The first step to real money sports betting is to find an online sportsbook. We’ve listed a number of the most popular and trusted sites at the top of this page, and you can read our online sportsbook reviews as well.
Yes, sports odds do change. Following the open, odds may change due to injury, a player returning from injury, weather conditions, depth chart changes, and even suspensions or personal matter absence.
While the term “easiest” is all relative, the best answer to what sports is the easiest to bet may be the one you follow the closest and know best. At the end of the day, the easiest sports bet type to make is a moneyline bet where you simply pick the winner.
Online sportsbooks are where you place your bets and those who set odds at online sportsbooks are called bookmakers, or bookies.
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