In the last two decades, the advancement in technology has led to the rise of online betting. The ease with which you can access games from anywhere on any device makes it an attractive option for many bettors who are looking for convenience and flexibility when playing their favorite casino or sportsbook titles. An example of this is NetBet poker, which you can enjoy from the comfort of your home.
As well as being incredibly convenient, online betting also offers players better odds due to reduced overhead costs associated with running an online operation compared to traditional casinos. That results in more profits for bettors and reduced financial stress on casino management.
If you are new to the world of online betting, this article is for you! Here we will provide a comprehensive guide by discussing the terms that are commonly used in the Betting world.
Once you are familiar with these terms, you are ready to place all kinds of bets.
1. How to Place a Bet?
Once you are on the homepage of an online casino, you need to start navigating for your desired betting category and click the “bet cell”. A bet slip will be opened in front of you, where you have to enter the bet amount. Next, you just submit the bet.
Within just a few clicks, you can place bets with ease and convenience.
2. How Much to Bet?
It can be very easy to lose a lot of money quickly if you don’t know what you’re doing, and it’s important that players understand the rules and risks before they start betting.
If you do decide to gamble at an online casino, it is best practice to only bet amounts within your comfort zone, but never more than you can afford or are willing to risk losing in any given session.
3. Where to Place a Bet?
Although there are various legit online betting sites, NetBet is one of the best. There is a high competition among all of the high-quality betting platforms, which is why you must browse around to shop for the best bets.
Most Common Terms Used in the Betting World
1. Favorites vs. Underdogs
In the world of betting, favorites and underdogs refer to teams or individuals that are expected to win (favorites) or unlikely to win (underdogs).
The favorite is usually assigned negative odds (-150 for example), which means you must bet $150 in order to make a profit of $100.
Conversely, the underdog will be given positive odds (+125 for instance), meaning if your bet wins you can earn back more than what was wagered ($125 + initial stake = total return).
2. Point Spreads
Spreads refer to a type of wager in which bettors can choose between two options with different point spreads. The option picked will determine if the bettor wins or loses based on how many points are scored by each team according to the spread selected.
For instance, one might pick an NFL game where Team A is favored over Team B and has been given a -7 point spread. This means that for bets taken on Team A they must win by more than 7 points for it to be considered successful, whereas any loss or even victory less than seven would cause those who chose them as their selection to lose their stake money.
3. Money Lines
Money lines refer to a type of betting in which the bettor must predict who will win an event without any point spread.
The odds are expressed as either positive or negative money lines, with the favorite having a minus sign and the underdog having a plus sign attached to their respective payouts.
4. Total or Over/Under
The bettor must decide whether they think the total number of points scored by both teams will be above (over) or below (under) the set point spread established by oddsmakers, which can vary from one game to another depending on various factors such as player injuries, weather conditions etc.