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Sportsbook betting is one of the most popular ways to wager, and with good reason.
- It is not only an exciting way to add uncertainty to your favorite sport, but you can also earn some extra money if you’re good at it.
- Of course, the keys to success are understanding the risks involved and going into it with a clear strategy and awareness of your actions.
Using an online sportsbook, you can gamble on any sport, from football to basketball to horse racing, tennis, and even WWE wrestling.
Depending on your preferred sport and sportsbook, you can choose from various bets and bonuses to maximize your strategy.
However, before you start playing, it’s best to learn the ropes by reading our comprehensive guide.
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So, if you’re ready to earn a profit off your favorite sports teams, let’s get started.
How Sportsbook Betting Works
Sportsbook Betting Explained
Although sports betting covers various activities, the basics are always the same.
You’re essentially trying to predict the outcome of a sporting event and then placing a wager on your prediction.
If you’re correct, you’ll win money; if you’re wrong, you’ll lose money.
Pretty simple, right?
The first step is to find the top-rated sportsbooks—an online sports betting platform to place your bets.
Some sportsbooks specialize in just one or two sports, whereas others offer options for a variety of sports, including:
- Boxing, MMA, and UFC
- eSports
- NCAA and NFL football
- Golf
- Greyhound Racing
- Horse Racing
- Ice Hockey
- MLB Baseball
- NBA and NCAAB Basketball
- Soccer
Once you’ve found a sportsbook that matches your needs, create an account and deposit some money into your bankroll. The exact amount is up to you, but remember that some sportsbooks have minimum deposit requirements.
After setting up your account, you’re ready to start betting.
As you’re looking through the list of upcoming events, you’ll find that each option has odds attached to it.
The odds represent the probability of a particular outcome and will determine how much you can win if your prediction is correct.
*As a point of reference, Sportsbook betting odds are an essential part of sports betting, so take a minute to read up on how they work.
Understanding Sports Betting Odds
Odds are usually expressed as positive or negative numbers.
- A positive number indicates that the team is less likely to win, i.e., the underdog.
- A negative number means that the team is a favorite.
The odds will also determine how much you can win if your prediction is correct.
Negative odds indicate you must bet that numeric amount and win to earn $100.
Positive odds indicate that you could earn that numerical amount if you bet $100 and win.
For example, let’s say you want to bet on a football game between the Atlanta Falcons and the Miami Dolphins.
The odds might look something like this:
- Atlanta Falcons: -200
- Miami Dolphins: +300
This means the Falcons are favored to win, and the Dolphins are the underdog.
For every $200 you bet on the Falcons, you stand to win $100; for every $100 you bet on the Dolphins, you stand to earn $300.
Of course, as they’re the underdogs, it’s less likely that the Dolphins will win, making it a riskier and, therefore, more profitable bet.
Additionally, it could help to understand a few international odds systems.
Depending on the sport or sportsbook you’re using, you may encounter these systems at some point:
Fractional odds:
Also known as UK odds, these are the preferred way to bet on horse racing.
Fractional odds express the amount of money you can win in proportion to your wager.
For example, if the odds of a horse are 1/5, that means that you need to bet $5 to win $1.
The higher the odds are, the higher the potential payout.
Decimal odds:
Also known as European odds, decimal odds are more straightforward to understand.
If the odds are listed as 2.00, you will get $2 for every $1 you bet.
So if you bet $10, you will get $20 in winnings.
For the most part, though, unless you’re betting on an international platform or are specifically interested in horse racing, you shouldn’t have to worry about learning these two systems.
Types of sports bets
Now that you understand the basics of sports betting, it’s time to learn about the different types of bets you can make.
The most common types of bets are moneyline, point spread, and parlay, but there are many others:
Moneyline bets
A moneyline bet is the simplest type of bet.
You’re simply betting on which team will win the game.
As explained in the previous section, these odds will always be expressed as either a positive or negative number.
Point spread bets
A point spread bet is a bit more complicated than a moneyline bet.
With this type of bet, you’re not just betting on who will win the game but by how much.
The point spread is the number of points the favorite is expected to win.
For example, a point spread might look something like this:
- New England Patriots: -7
- New York Jets: +7
This means that the Patriots are favored to win by 7 points.
If you bet on the Patriots, they would have to win by more than 7 points for you to win your bet.
If you bet on the Jets, they would have to lose by less than 7 points for you to win your bet.
Parlay bets
A parlay bet is a combination of two or more bets.
The benefit of a parlay bet is that you can win a lot of money for a small bet.
The downside is that all of your predictions must be correct for you to win the bet.
For example, let’s say you want to bet on three football games:
- Pittsburg Steelers: -7
- Carolina Panthers: +7
- New York Giants: -3
You could bet on each game individually or on all three games with a parlay bet.
If you bet on all three games with a parlay, you would win a compounding profit, and all your predictions are correct.
However, if even one of your predictions is incorrect, you would lose your initial bet and any compounding profits you’d gained up to that point.
Featured Best Sportsbooks for USA Players
As you search for the best sportsbook sites, we recommend sticking with quality options that are well-reviewed and backed by a good reputation.
Ideally, your sportsbook should offer a balance of the following factors:
- A wide variety of sports to bet on
- Competitive odds
- A user-friendly platform
- A mobile app
- Generous bonuses and promotions
- Responsive customer service
By narrowing your search using these criteria, you’ll find a sportsbook that meets your needs and earns you a profit.
To help with your search, we’ve compiled a list of ten top sportsbook websites for American punters. Check them out below and head to their dedicated websites to learn more.
Jazz Sports
The Jazz Sportsbook features a casino and racebook platform. With over 30 years in the gambling business, they have built up a trustworthy and fair reputation.
JazzSports offers competitive odds on various sports markets and over 200 racing tracks worldwide. Expect same-day payouts with crypto banking options. 24/7 customer service and plenty of welcome and reload bonuses on offer.
Fund your account for the first time and earn a 50% Welcome Bonus of up to $1,000 at Jazz Sports. Use the Promo Code JAZZ50, and your 50% bonus will be added to your sports betting balance.
Bovada Sports
Bovada is an excellent choice for US punters as it offers a wide range of betting options, competitive bonuses, and fair odds on nearly every sport you could imagine, including:
- MLB Baseball
- UFC, MMA, and boxing
- NBA and NCAAB basketball
- NFL and NCAA football
- Golf
- Tennis
- Badminton
- Hockey
- Soccer
- Rugby
- Horse racing
- Motorsports
Along with its many sports bets, Bovada offers odds on political and entertainment events, giving you a never-ending range of options.
New members also qualify for a 50% deposit match, worth up to $500, helping to round out your bankroll and getting you started on the platform.
BetNow
If you’re looking for a platform that offers a more personalized Sportsbook betting experience, BetNow is an excellent option.
Although it doesn’t have the same range of sports as some of the other sportsbooks on this list, it offers a long list of betting options for each sport, including:
- NFL and NCAA football
- NBA Basketball
- MLB Baseball
- Hockey
- Soccer
- Boxing and UFC
- Tennis
- Motorsports
As a new member, you can qualify for a 150% deposit match, up to $500, plus an additional 25% by using the promo code BN25.
BetOdds.ag
BetOdds.ag is another top choice for both new and experienced punters.
Along with a wide variety of sports to bet on, including college and professional football and basketball, tennis, golf, hockey, soccer, horse racing, and motorsports, it offers a user-friendly platform and mobile app, making it easy to place your bets on the go.
BetOdds.ag is known for its fast payouts, setting it apart from competitors, who may take up to 5 business days to process a transaction.
Additionally, it offers a variety of bonuses, including a 100% deposit match, up to $300, and a personalized betting experience through the site’s VIP rewards program.
BetOnline Sportsbook
BetOnline is one of the most popular sportsbooks in the US, and for a good reason.
It offers odds on nearly every sport imaginable and provides live betting options, allowing you to bet on games as they’re happening.
Unlike other online sportsbooks, BetOnline separates its options into different categories, including:
- Sports
- Esports
- Live betting
- Racebook
- Contests
This way, you can easily navigate to your preferred category, locate events, and bet using a specialized strategy. And, since BetOnline has an entire webpage dedicated to horse racing, it’s widely considered one of the sport's best platforms.
Register today to make the most of a 50% deposit match, up to $1,000, and a $25 risk-free bet.
SportsBetting.ag
SportsBetting.ag prides itself on being the “best online sportsbook,” While that may be up for debate, it is among the most well-respected and regularly receives praise for its quality customer service.
Its range of sports is pretty limited compared to other platforms, including just:
- Baseball
- Football
- Basketball
- Soccer
- Tennis
- Golf
- MMA
SportsBetting.ag offers a dedicated racebook for horse racing fans. Plus, new members can qualify for a 50% deposit match, up to $1,000.
BUSR.ag
BUSR is another favorite for fans of horse racing.
Along with a comprehensive racebook, it offers live betting options, allowing you to bet on horse races as they’re happening.
You can also find odds for motor racing and harness racing on the site.
Other sports available for betting include:
- Football
- Basketball
- Soccer
- Tennis
- Golf
- Boxing and MMA
BUSR offers a 150% deposit bonus, worth up to $750, one of the most generous on this list.
You can also take advantage of bonuses like the $100 risk-free bet and the $50 mobile free play bonus.
MyBookie Sportsbook
If you’re looking for a platform with a wide variety of sports, MyBookie is an excellent option.
It offers odds on all the most popular sports, including football, basketball, baseball, hockey, golf, tennis, boxing, and MMA, as well as a few less-common options, like cricket, Aussie Rules football, and water polo.
You can even bet on entertainment and US political events.
Additionally, MyBookie offers a generous welcome bonus, giving you a 100% deposit match of up to $1,000.
You can earn up to $500 in risk-free bets and take advantage of other promotions, like the $20 Refer-a-Friend bonus.
Wagerweb
Wagerweb has been in the Sportsbook betting business for over 25 years and is one of the industry's most trusted and well-respected platforms.
It offers odds on all major professional sports, including football, basketball, hockey, golf, tennis, and soccer, but it’s known to be the go-to platform for MLB baseball betting.
If you’re a major league baseball fan, we recommend signing up to make the most of Wagerweb’s ongoing 50% deposit bonus, worth up to $1,000.
Additionally, Wagerweb is one of the few platforms to accept Bitcoin, so feel free to use your cryptocurrencies on the site.
Xbet Sportsbook
Last but not least, Xbet is one of the newer sportsbooks on the market, but it’s already made a name for itself in the industry.
It specializes in NFL bets, but you can find competitive odds on most major sports, including NBA basketball, MLB baseball, Canadian football, and Champions League Soccer.
Considering that it is a smaller, younger sportsbook, it still offers a respectable 100% deposit bonus, valued at up to $500.
We highly recommend it for NFL fans, as you can place 1st and 2nd half lines, player props, quarter lines, preseason lines, and more through the platform.
Summing it All Up
Sports betting is a popular way to gamble for a reason—it’s easy, exciting, and offers the opportunity to win extra money.
Hopefully, this guide has provided a solid foundation that you can use to sign up, start betting, and win a profit from your favorite sports.
As we’ve pointed out, be sure to use a quality sportsbook, such as one of the options described above.
Frequently Asked Questions
Can betting sites ban you?
Yes, betting sites can ban you if they suspect you of fraud or if they believe you are using unfair practices to win.
During the registration process, you’ll be required to agree to a set of Terms ; Conditions and, if you violate these terms, your account could be suspended and you’ll be banned from the site.
Is sports betting legal in all 50 states?
No, sports betting is not legal in all 50 states.
Under current federal law, individual state legislatures can pass and regulate their own gambling bills but, to date, only 27 states (including the District of Columbia) have legalized the practice.
Another 13 states are actively debating legislation that would legalize online sports betting.
Is sports betting legal in the United Kingdom?
Yes, sports betting is legal in the United Kingdom and has been since the Betting and Gaming Act of 1960.
The UK is considered one of the most “open” markets in the world when it comes to online gambling and there are dozens of licensed and regulated sports betting sites available to UK residents.
Can a bookie cancel a bet?
Yes, a bookie can cancel a bet but they are not obligated to do so.
If you believe that a bet has been canceled in error, you can contact customer support to have the issue reviewed.
In most cases, the bookmaker will honor the bet but there are no guarantees.
Is it possible to do sports betting without verification?
In short, no. All reputable sports betting sites will require some form of verification before you’re allowed to place a bet.
This is done to protect both the customer and the sportsbook and is required by law in most jurisdictions.
During the verification process, you’ll be required to provide proof of identity and age as well as a valid credit or debit card.