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The online sports betting industry is a rapidly growing sector of the global gambling industry, with billions of dollars in revenue generated each year. According to a report by Grand View Research, the global online sports betting market was valued at $24.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2021 to 2028.
What are the best sport betting strategies?
When it comes to the sports bets with the highest chances of winning, it’s important to remember that no bet is a guaranteed winner, as the outcome of sports events is inherently unpredictable. However, there are some types of bets and sports that tend to offer better odds than others.
- Moneyline Bets: Moneyline bets are the simplest type of sports bet, where you simply choose which team or player will win the game. Moneyline bets tend to offer better odds than other types of bets, as they are based solely on the outcome of the game and not on any other factors, such as the point spread.
- Over/Under Bets: Over/under bets, also known as totals, involve betting on the total number of points or goals scored in a game. You can bet on whether the total score will be over or under a certain number set by the sportsbook. Over/under bets tend to offer better odds than other types of bets, as they are based on statistical probabilities and do not require you to pick a winner.
- Point Spread Bets: Point spread bets involve betting on the margin of victory in a game. The sportsbook sets a point spread, which is a handicap given to the underdog team to level the playing field. You can bet on whether the favorite team will win by more than the point spread or whether the underdog team will lose by less than the point spread. Point spread bets tend to offer lower odds than moneyline or over/under bets, as they are more difficult to predict.
- Sports with Lower Variance: Sports with lower variance, such as baseball and hockey, tend to offer better odds than sports with higher variance, such as basketball and football. This is because lower variance sports are more predictable, with fewer unexpected outcomes and upsets.
- In-Play Betting: In-play betting, also known as live betting, involves placing bets on a game while it is in progress. In-play betting can offer better odds than pre-game betting, as the odds can change in real-time based on the current score and other factors.
Which types of sports are the best to choose as a beginner in sport betting?
As a beginner in sports betting, it’s generally a good idea to start with sports that you are already familiar with and have some knowledge about. This can help you make more informed decisions and increase your chances of making winning bets. Here are some sports that may be good options for beginners:
- Football (Soccer): Football is the most popular sport in the world and is a great option for beginners due to its simplicity and wide availability of matches. You can find football matches to bet on from all over the world, and there are many different types of bets available, such as the moneyline, point spread, and over/under.
- Basketball: Basketball is a popular sport in many countries, especially in the United States, and offers many opportunities for betting. You can bet on the outcome of individual games, as well as on a team’s performance over the course of a season.
- Tennis: Tennis is an individual sport that is easy to understand and offers many betting opportunities. You can bet on the outcome of individual matches, as well as on a player’s performance over the course of a tournament.
- Baseball: Baseball is a slower-paced sport that is popular in the United States and Japan. It offers many opportunities for betting, including the moneyline, point spread, and over/under. Baseball games also tend to have lower variance, making them a good option for beginners.
- Esports: Esports are growing in popularity and offer many betting opportunities, especially for younger bettors. Esports tournaments are held all over the world and offer many different types of bets, including the moneyline, point spread, and over/under.
Overall, it’s important to do your research and choose bets that offer good value and reasonable odds. While no bet is a guaranteed winner, by making informed decisions and avoiding risky bets, you can increase your chances of making a profit in the online sports betting industry. Ultimately, the best sport to choose as a beginner in sports betting is one that you are familiar with and enjoy watching. By focusing on sports that you already know well, you can increase your chances of making successful bets and having a positive experience with sports betting.