The ongoing expansion of lawful sports betting throughout the United States is attracting numerous new sports bettors. Every time a new state, such as Arizona, legalizes sports betting, many new users sign up for accounts but might be unsure about how to begin. This can also apply to those who have previously experimented with sports betting, either during a visit to Las Vegas or via unregulated channels like a bookie or offshore website, which can be risky.
Even experienced bettors, who believe they know all there is about sports betting, frequently make avoidable errors due to miscalculations. Undertaking further research to comprehend the industry better could prevent these mistakes.
Betting on sports is much more convenient through online sportsbooks than attending a physical location. They might also provide online wagers that you cannot find at a retail sportsbook.
We will cover everything from the basics such as how to read lines, the various bets you can place, and much more.
1. Sign up at a sportsbook
In order to sign up and legally bet on sports in Arizona, you must be at least 21 years old. During the registration process, sportsbooks typically request certain information such as your date of birth, email address, legal name, mailing address, and the last four digits of your Social Security number. Once you have successfully registered, you can deposit funds using various methods and begin placing bets soon after.
Before you sign up, it’s essential to look for and pinpoint the sportsbooks that provide the best welcome offers that suit your needs. Some sportsbooks may offer a bonus on your first bet, while others might match your initial deposit up to a specific limit.
2. Pick the sport you want to bet on
A crucial tip for novice sports bettors is to begin with familiar territory. If you’re venturing into sports betting, you probably have a particular sport or league you’re more knowledgeable about. This should be your initial focus in your betting journey until you feel confident enough to explore other areas.
To be really specific and give yourself an advantage, you could limit your betting choices to a select few teams. For instance, you might choose to familiarize yourself thoroughly with the NFL’s NFC West Division. Initially, you should only place bets for or against teams in this division. As the majority of bettors may be focusing on all 32 NFL teams, you can gain an upper hand by being well-versed with the details of just four teams.
As your understanding of sports betting deepens, don’t hesitate to explore other sports and spot where the best value lies. Generally, the sport or sports you’re already following will serve as a reliable starting point.
3. Read the lines
For those new to this, deciphering the numbers can be somewhat daunting. You’ve probably encountered these as sports betting gains popularity. Let’s take a peek at what the NFL betting lines might look like for an upcoming game between the Arizona Cardinals and Seattle Seahawks on the BetMGM Arizona app.
| Spread | Moneyline | Total | |
|---|---|---|---|
| Seattle Seahawks | -6 (-110) | -275 | Over 53 (-110) |
| Arizona Cardinals | +6 (-110) | +225 | Under 53 (-110) |
This information provides you with the crucial details for three primary bets: the point spread, moneyline, and point total. We’ll delve deeper into each in the following section, but for now, here’s what you need to understand.
The first column of numbers represents the point spread, with the plus symbol indicating the underdog and the minus sign showing the favorite. This means the Seahawks are favored by six points over the Cardinals, and both teams have -110 odds to cover the spread. The second column of numbers represents the moneyline, which is a direct bet on which team will win. The Cardinals, shown with a plus sign, are the underdogs at +225, while the Seahawks are the favorites at -275. The third column displays the point total, with the over/under for the total points to be scored in the game being 53, and each side has -110 odds.
4. Choose a bet
As stated in the preceding section, the point spread, moneyline, and point total are the three primary bets. It’s crucial to understand these terms:
- Point spread: Point spread is essentially a method used by oddsmakers to level the playing field, given that some teams are naturally superior to others. For instance, if the Cardinals had a +6, it means they would need to either win the game outright or lose by less than six points to cover the spread. On the other hand, the Seahawks, at -6, would need to win by more than six points to cover the spread. Regardless of whether you bet on the underdog or the favorite, a point spread typically pays out the same.
- Moneyline: The moneyline is linked to the team that emerges victorious in the game. A bet on the Cardinals moneyline necessitates their win for your bet to be successful. Similarly, a successful bet on the Seahawks moneyline requires their win. However, given that the Cardinals are considered the underdogs, a successful bet on them would result in a higher payout compared to a correct bet on the Seahawks.
- Point Total: Often known as the over/under, point total refers to the combined scores of both teams. If the number is set at 53, betting on the ‘over’ means you predict the total score will exceed 53, while choosing ‘under’ implies you believe the total score will be less than 53. The returns on successful bets are typically similar whether you bet on the over or under, similar to point spread bets.
5. Futures betting
Another common choice is making a futures bet. These are stakes on the outcomes of an entire season, and odds for some of the most significant events are available throughout the season. A futures bet could result in a large payout due to the variety of potential outcomes, and the unpredictability of what could happen between now and the final win. Here are some of the best choices for futures betting in different sports:
- Stanley Cup
- Super Bowl
- World Series
- NBA Finals
- College Football Playoff
- March Madness
- Golf majors
- Tennis Grand Slams
- Individual award winners
Moreover, you can make more specific futures bets that have a greater winning probability. These involve placing bets on division and conference winners within a specific league, or predicting whether a particular team will win more or less than a predetermined number of games. Not only does betting on the futures market add more excitement throughout the season, but it also gives insight into a sportsbook’s predictions for the upcoming season.
6. Possible prop bets
Placing prop bets can be quite enjoyable, with a plethora of options available. A prop bet represents a sort of side bet where the outcome generally does not depend on the final score to determine if your bet is a win or a loss.
For some of the major games, sportsbooks and oddsmakers display their creativity. The Super Bowl reigns supreme in terms of prop bets, providing bettors with the opportunity to place bets on virtually anything during the game. Here are a few examples of the prop bets that might be offered for different sports.
- Which Gatorade color will the Super Bowl winning coach be doused with? Will it be orange, red, yellow, clear, blue, or purple?
- Will Devin Booker score over or under 23.5 points in his next game?
- In their next game, who will have more receiving yards, Larry Fitzgerald or Davante Adams?
You can readily find a complete list of prop bets on the sportsbook app by finding the game associated with the prop bet. As demonstrated in the examples, some options will present only two outcomes, while others will provide numerous possibilities.
7. Betting on live games
Live betting, one of the newest and most thrilling additions to the online sports betting industry, allows you to place wagers on an event as it unfolds. Unlike traditional betting, which required all bets to be placed before the game began, live betting offers real-time wagering. Generally, it’s helpful to have a sportsbook app on your phone for easy access. This way, you can conveniently place bets from your phone while enjoying the game on television.
Bettors typically encounter point spreads, moneylines, and point totals in live betting during games. Additional props may also be presented for users to peruse. Here are some possible props that might be accessible to bettors during games at sites such as DraftKings Arizona.
- Who will be the first to score five runs, the Arizona Diamondbacks or the Seattle Mariners?
- What will this power play result in? A goal or a kill.
- What is the over/under on Kyler Murray’s passing yards before halftime? 182.5.
Bettors have the freedom to develop and apply their own strategies for in-game betting. These strategies can range from betting for or against a particular team at halftime, based on their observed halftime adjustments in past games, to other methods.
If you bet on the game before it began, you have the option to hedge your initial bet by either betting against it or increasing your bet on your side if your confidence grows as the game unfolds.
8. Watch the line movement
Grasping the concept of line movement is vital, particularly for beginners. Sportsbooks will initially share their odds for a specific game, and it’s highly probable that these numbers will shift by the time the game commences. This change can be attributed to several factors.
Oddsmakers may adjust their figures based on new information they did not originally consider, such as injuries, weather conditions, or roster changes due to trades, and so on. Once they obtain this information, it is probable they will amend their odds to mirror the most recent news concerning the teams involved.
Another significant factor influencing line movement is the direction of betting money. Ideally, for bets such as the point spread or total, sportsbooks aim to balance the bets on each side. Thus, if initially, the over receives 90% of the bets, the oddsmakers may modify their figures to attract more bettors to the under. This strategy is to minimize risk if the over turns out to be the winning bet.
9. Calculate your odds and payouts
Sportsbooks display odds in various ways such as American odds, fractional odds, and decimal odds. In the US, American odds are the most commonly used. Below is a guide on how to calculate odds and figure out payouts.
In the above examples, you might have noticed that we applied -110 odds to all the point spreads and totals. This is known as the vig or the juice, and -110 is the standard starting point for spreads and totals. To simplify the calculation of potential payout, let’s use $100 as an example. With odds at -110, a bet of $110 will yield a profit of $100. If the odds are -115, a bet of $115 will result in a $100 profit. Similarly, with -105 odds, you need to bet $105 to earn a $100 profit, and so on.
The computation will vary if you have positive value odds. For instance, in our previous example where the Cardinals were playing against the Seahawks, Arizona had a +225 chance of winning the game on the moneyline as the underdog. Thus, if you bet $100 on the Cardinals with +225 odds, you could make a profit of $225.
When choosing your bet and inputting the dollar amount you wish to stake, the sportsbook app typically displays the potential payout if you win. However, understanding the fundamentals is still crucial.
10. Know what bets to avoid
Many recreational bettors, particularly beginners, often make the mistake of placing too many parlay bets.
A parlay is a type of betting that requires several outcomes to occur for a win. It’s an all-or-nothing gamble. Parlays can be attractive due to their potential for high returns if correctly predicted. However, consistent wins are challenging, leading many bettors to consider them risky or foolhardy bets.
Some top sports bettors have a success rate of 60% in predicting bets, highlighting the challenge of making a profit in this industry. Given this fact, one can only surmise how tough it would be to consistently and accurately predict multiple outcomes.
Sportsbooks earn substantial profits from parlays, which is the reason they will persist in offering them. While parlays can be enjoyable, a lot of bettors will choose to steer clear of them.
It may be advisable to steer clear of bets that offer multiple outcomes, such as parlay and futures bets. These types of bets are challenging to win due to the numerous possibilities. For instance, at the beginning of the NFL season, any one of the 32 teams could potentially win the Super Bowl. When you factor in all the variables that can occur throughout the season, it might be in your best interest to avoid such futures bets.
It’s also logical to steer clear of placing bets on significant underdogs to win outright. For instance, if you correctly forecast that the No. 16 seed will triumph over the No. 1 seed in the NCAA tournament, as 25.5-point underdogs, the winnings would be substantial. Nonetheless, this is highly improbable, and such wagers essentially equate to squandering your money.
Related Sports Betting Articles
- Arizona Sports Betting Promos
- Arizona Sportsbook Odds
- Top Odds Enhancements in Arizona
- Wagering on Team Sports vs. Single Player Sports
- Betting on Futures in Major Sports
- How Do Different Betting Lines Function?
- What is the Method Sportsbooks Use to Generate Revenue?
- How Does Parlay Betting Function?
- Instructions for Betting on Win Totals
- Guide on Betting the Moneyline
- How to Discover the Most Favorable Odds (Also Known as Line Shopping)
- Explanation of Parlay, Teaser, and Pleaser Bets
- Proposition Bets for NFL, NBA, MLB, and Other Sports
- Super Bowl Prop Bets
11. Have accounts with multiple sportsbooks
One of the lesser-known strategies for novice bettors is to register with multiple sportsbooks. This allows you to compare and select the most favorable numbers and payouts. Although most sportsbooks will have similar lines, there may be slight variations among oddsmakers. Therefore, if you find a bet that appeals to you, it’s prudent to check which sportsbook offers the best odds and payout for your chosen side before placing your bet.
Another incentive to include multiple sportsbooks is to reap the benefits of bonuses and promotions offered by each site. As sportsbooks are currently vying for users, they are going out of their way to attract more, which is beneficial for sports bettors. One site may offer bonus bets to existing users, while another may provide enhanced odds on a game of your interest. It’s crucial to seize such opportunities frequently.
Finally, it’s crucial to ensure that the sportsbooks you sign up with are operating legally. Numerous illegal, unregulated sites exist that may delay or even withhold your winnings. Now that sports betting is lawful in Arizona, you can benefit from a regulated sports betting system.