Betting Sports 101

SPORTS BETTING: Tips & Tricks

With baseball wrapping up soon and football getting ready to kick off, we are excited about another season loaded with opportunities to cash in on the games. While it might seem simple to just make a bet on a game, there are other things to consider that will ultimately help you be a more informed, and confident, sports bettor.

We are excited to highlight a few tips to get you off to a great start this season and hopefully make it a profitable year.

Basics at the Book

If you have never placed a bet at sportsbook, it is simple but helps to know the basics. Once you find your seat and where you are going to hang out for the game, find a betting sheet, usually located near the betting windows. Betting sheets outline the games and spreads being offered. The sheets are typically printed in the morning, and by comparing what was printed, and what the current odds are on the LED board in the Sportsbook, you can see how the line is moving.

Once you have selected your bet, you will want to find the three-digit ID number located to the left of the game. You will also want to know what kind of bet you are making (Ie. spread, moneyline, over/under) and the amount of the wager. So, if you want to bet $50 on the Bengals as a 3.5 point favorite, you would say, “50 dollars on 125 spread” (or whatever ID number is for the Bengals). Hang on to your ticket, and if you win, go cash it after the game, leave a friendly tip to the teller and be on your way.

Types of Bets

There are several types of bets, and then variations of those bets, making it seem confusing to figure out. There are spreads, moneylines and over/under bets to choose from. The two main ways to bet on favorites or underdogs is based on point spreads or a moneylines. For point spreads, the favorite is the team that is expected to win the game and will have a minus sign next to its odds, while the underdog will have a plus sign. If the game is a “toss-up”, the book will list it as a pick’em.

Moneyline bets are a bit different and are based on who will win the game outright and uses odds to calculate the payout and is based on a $100 unit. Favorites are given a minus sign and typically represented as -150, -200 or -500. If a favorite is -200, that means you have to bet $200 to win $100. (Or $100 to win $50, etc…) Underdogs are given a plus sign. An underdog designation of +200 would mean that your $100 wager would pay $200.

Over/Under (Totals) bets are another popular wager and is when you bet whether the total number of points scored will be over or under the oddsmakers predictions.

Bankroll Management

As with anytime you decide to place a wager, it is important to be conscious of your bankroll and adjust accordingly to give yourself the best chance to take advantage of favorable opportunities. It isn’t just about what bets you make, but also the amount of the bet and frequency of bets to protect yourself from cold streaks that are sure to come. It is wise to make more bets at smaller bet sizes than blow your whole bankroll on one bet that could wipe you out. A general rule of thumb is to limit your per bet amount to around 2-5% of your total bankroll. So, if your bankroll is $1,000, your bets should range from $20 to $50.

Pick Your Spots

Betting every game, or most of them, is a recipe for disaster in the long run. Instead, find your game or two with a defined edge, and make your play. If you want multi game action, consider a parlay or teaser bet where you can play with the point spread to make it more in your favor. Check the lines and compare them to other sportsbooks, both land-based and online, to see if there is any variance that will give you an advantage. Sometimes a ½ point difference is all you need to cash the bet.

If gold put Deadwood on the map, gaming got us in the history books. Between the 24/7 tables, a world of slots, and shiny new sportsbooks, we’re making the Deadwood experience even more iconic — one spin and one win at a time.

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