How to Bet
Once you’ve checked out our Free Bets and Bookmaker Reviews sections, you will want to learn the basics of betting terminology before placing your first bet. Here’s a list of popular Sports and Horse Racing Terms you should familiarise yourself with in order to easily navigate your online betting account.
Sports Betting Terms
The point total that a team must win the game by in order for your team to win. If the line is 9.5, you need the favoured team to win by 10 or more in order to cash your ticket. The standard line odds are usually $1.91 with most agencies but most will also give you the option to ‘pick your own line’ with the odds adjusted accordingly.
A straight bet is when you place a wager on a team to win the game. If a team is seen to be given a 50/50 chance of winning, the odds will be $1.91 with most bookmakers.
A Multi Bet is when you pair two or more bets (usually up to 11, or 12+ with Luxbet.com) together on a single ticket for the chance to win more money. The odds that your wager will payout multiplies with each bet added to your slip. Multi Bets are a great way to increase your odds when betting on heavy favourites or win huge amounts of money with less favourable odds. Our Expert Tips section will help punters win big with quality Multi Bet tips through the 2013 AFL and NRL seasons.
A totals wager is exactly what it sounds like, which is wagering on the point total for a given game. Some betting agencies will even offer team totals where you can bet on the total number of points or goals a team will score in a particular game.
Horse & Greyhound Racing Terms
Nothing beats a day of wagering on the ponies, and this can easily be done through an online sportsbook. Below are some of the more common horse betting terms you should know.
Win, Place and Show Bets
Win bets are when you place a wager on a horse to win a race. A Place bet is when you select a horse to come in either first or second in a race. And, a Show bet is when you select a horse to come in third, second or first.
An Exacta wager is one of the most exciting bets you can make on a horse race. This wager is when you select the first two horses to finish a race.
A Trifecta is a horse bet where you select the first three horses to finish a race. If you are skilled enough to win a Trifecta bet, you could receive a very nice payout.
A Quinella is similar to an Exacta and a Trifecta except that you are trying to pick the top four horses to finish a race in order. This is extremely difficult to pick but the payouts can be enormous.
When you “box” a bet such as an Exacta or Trifecta, the order of finish for the horses you select for your ticket does not matter. You will win your bet if the horses you selected finish first and second or first, second and third no matter the order. It is important to keep in mind when you make a “box” wager, you will have to pay each combination on your ticket, so you may not want to have too many horses in your Exacta Box or Trifecta Box wager.
A Daily Double is a bet where you try to select back to back winners of two different races. Most horse tracks will offer rolling Daily Double wagers where you can try to select the winner of the current race and the winner of the next race before it starts.
Common Betting Strategies
While there is no sure fire betting strategy that you can follow when wagering on sports to guarantee you will win money, there are a few methods you can use to help improve your odds from time to time. Simply betting money line favourites will help you avoid losing a bet because of the spread, but this method can also help your bankroll disappear in a hurry if you bet too many losing favourites.
Correlated Multi Bets are a unique betting strategy you can try to employ to increase your odds of winning. This strategy involves grouping big favourites to cover the spread along with the over points for the game as the theory is the favourite team will score a lot of points to cover the spread thus causing the game to go over the total as well.
The best betting strategy you should follow is sound money management. If you do not chase your losses or risk too much of your bankroll on one wager, you will increase your odds of becoming a profitable sports bettor over the long term.