Before the internet, unless you were in Las Vegas, sports betting was often a dirty business that was often run by gangsters running afoul of the law. Classic television shows such as The Odd Couple, Barney Miller and Miami Vice would portray bookmakers with jackbooted thugs that would injure those who would not pay up on their losses. And while that may exist to some extent today, the far more safe and legal option is online real money betting sites.
Finding a site to bet for real money online can be a confusing task for the beginner and even for those that are familiar with sports betting. But never fear! At legitgamblingsites.com we have a crew of seasoned experts who know the industry inside and out and provide you with the best and latest information regarding sites where you can make your wagers safely and securely. We evaluate all aspects of the sites we recommend to give you the peace of mind that you need when placing your wagers.
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When wagering at real money betting sites, there are several criteria you should consider before placing that first bet. Luckily, we use these criteria at LegitGamblingSites.com and now you can too. Before you place the first bet the website should have:
- A friendly and responsive customer support and it should be 24 hours a day, 7 days a week. They should have multiple options for contacting them as well such as email, a phone number, fax number, and online chat. These options should be prominently featured on the betting site.
- An analysis to make educated wagers. The analysis may include the latest news and information of teams, players and the next matchup they face. It may also include injury reports, historical analysis and, in the case of outdoor sports, factors like the weather and the type of field they are playing on. As well as predictions of how the team/person will perform in the next event they participate in.
- A list of the rules and requirements for making your wager on their site.
- The list of the scores of all sports and leagues they accept wagers for.
- A complete list of schedules for all teams (so you can bet ahead).
- A betting guide
- A list of the odds and the betting lines for all the sports they will take bets on
- A high value on security. In today’s world, protecting your information has become paramount. Sites that are secure feature the letters HTTPS in their web address (the “S” stands for secure).
Deposits, Withdrawals and Bonuses
All bets require real money. That being said, you will need to deposit funds in your account at the real money betting site you have chosen to patronize. If you live outside of the United States, most betting sites make this an easy task. The industry standard is that sites accept major credit cards (MasterCard, Visa, Discover and to a lesser extent American Express), debit cards, online payment options (such as PayPal or Neteller), and wire transfers for your bank. Some sites will also take cryptocurrency like Bitcoin (which will usually have special instructions due to the unique status of this form of payment).
For United States based players, it can be a bit more complicated. Many real money betting sites will not accept US based players due to both state and federal gambling and banking laws. But those who do accept US players will usually limit you to either wire transfer or cryptocurrency.
Most sites will also require identity verification. This is usually done while setting up the account and making the first deposit, but in some cases will happen when you make your first withdrawal. In either case, you may have to send the site a copy of a picture ID and/or other identifying information. This protects both you and the sports betting site as it keeps them from making fraudulent charges on someone’s account and will insure that the correct person is receiving payment in the case of a withdrawal.
Once the deposit has been processed you are free to place your first wager.
As for withdrawals, most will pay in either wire transfer, check or in the case of those that accept it, cryptocurrency. Be sure you check for any restrictions before withdrawing your winnings. Accepting a bonus with a deposit will usually have some sort of withdrawal restrictions.
When placing wagers with real money betting sites, getting the most out of your wager is a huge consideration. That being said there is a huge amount of competition for your gambling dollar. As such, sports betting sites offer some incentives to spend your hard earned money with them. These incentives can include deposit bonuses, reload bonuses (adding extra money to your account), refer a friend bonuses, points on certain games or teams and extra specials to sign up for email communications. These will vary with each site and may change frequently, so researching is key. Also, read the fine print for any promotion you accept, as they will usually affect when you can withdraw your winnings.
For the novice, sports betting for real money can be intimidating. However, depending on who you bet on and how you bet, you have a good chance of coming out ahead. One of the key factors to being successful when it comes to online betting is knowledge. Part of this knowledge is knowing the types of bets you can place. The most common types of bets are:
- The spread
- The moneyline
- The over/under
Anyone who has ever watched a TV or movie where sports betting is involved has heard of the line or the spread. This is the most common and popular type of sports betting. The spread is created by the betting site odds makers. Odds makers evaluate a number of factors of a team (or individual in a sport like boxing or mixed martial arts) and come up with a number that handicaps one participant or team over another. The team that the odds maker believes will win is assigned a negative number, the team that he believes will lose will be assigned a positive number.
For example, in a football game pitting the Dallas Cowboys versus the New England Patriots, the odds maker may look at factors such as who is injured on the team, if it is a home game, and if there is any type of streak the teams are on as well as historical data such as the record these teams have against each other. After evaluating these factors, the book maker may determine that the Patriots have the edge by one touchdown or 6 points (New England Patriots -6/Dallas Cowboys +6).
So in order to win, any bettor that wagers on the Patriots would have to not only have their choice win, but beat the prediction of the odds maker. Therefore, in order to beat a -6 spread, the Patriots must win by 7 points or more. If the bettor chose the Cowboys then 6 points would be added to Dallas’ final score and compare that to New England’s final score. For the Dallas bet to win, Dallas would have to lose by 5 points or less or win outright.
Another type of bet you can place is called a moneyline bet. Unlike betting on the spread, a moneyline bet does not have a handicap. In this type of bet, the underdog pays higher than the team that is expected to win.
When placing a moneyline bet, you are essentially betting for the team or individual that wins or loses. To differentiate the expected winners or losers, book makers will determine the odds of the winning and losing participants in a matchup. The expected winner will be designated with a negative number and the underdog will be assigned a positive number.
Using our previous teams, let’s say the New England Patriots moneyline is negative 245 (-245) and the Dallas Cowboys are positive 150 (+150). If you place a moneyline bet on the Patriots, in order to win $100, you would have to bet $245. If you decide to wager on a Cowboy’s win, a $100 bet would yield a win of $150.
In an over/under bet, you are wagering on the total number of points that are scored in a game will be over or under a certain amount. The amount is set by the odds makers. For example, a basketball game in which the Los Angeles Lakers play the Chicago Bulls promises to be a competitive game. In this game, the Lakers win 97 to 89 which totals 186 points. The odds maker set the over/under at 193. In this case, if you bet under, you win.
For the more advanced gambler, the parlay bet might be the wager of choice. This is a type of bet where the bettor placed a single wager on two or more games. These bets are usually based on the spread. These type of bets can have exceedingly big payouts than betting on single teams individually. The reason for this is that it is an all or nothing proposition, either all the teams win or you lose. So the odds of winning are much lower.
Since you are playing with the spread, there may be cases where a team will tie the spread. In these cases, the bet is essentially ignored and the remaining teams play out the bet, with lower odds since there are fewer teams involved.
For example, if you were to place a 5 team parlay on the Carolina Hurricanes, Dallas Stars, Boston Bruins, Montreal Canadians, and the Anaheim Ducks to win all their games (and beat the spread). If you bet $100, and the odds are 20 to 1 that you hit all five teams, you win $2000. If you tie or push any games, but win the rest, the amount you win will be reduced based on the odds for the number of games you did not tie on. If you lose any of the games, you don’t win anything.
Another type of parlay bet called a progressive parlay bet which will allow bettors to lose a certain amount of games and still win. These bets will pay out the full amount if all teams are chosen correctly but will pay a reduced amount if some teams lose. Most real money betting sites allow 1 team to lose for a 4 to 6 team bet, 2 teams for a 7 to 9 team bet and 3 to lose for a 10 to 12 team bet. You may not find this option on every site.
Other Betting Options
These are not the only types of bets available at real money betting sites, but they are the most common. As you get more comfortable with the betting process and odds, you may want to try other types of wagers. On some of our more detailed articles, legitgamblingsites.com delves deeper into betting options that are less common but can yield better chances of winning more money.
Placing wagers at real money betting sites can be an exhilarating and exciting prospect, but going in with blinders on can cost you a lot of money. That’s why at LegitGamblingSites.com we try to pull the curtain back on the world of sports betting for you.
We realize that knowing you can place your bet safely and securely at reputable sites are of the utmost importance. We utilize experts from both sides of the industry who have worked for sport betting sites and who have wagered at them. They know what to look for and based on the criteria we have previously mentioned, can recommend great sites for you to use.
In addition to security, keeping track of your betting is important. Budget your money and look for the best deposit deals and incentives offered by these betting sites. Deposit bonuses, reload bonuses, refer a friend bonuses and other incentives sports betting sites offer can really stretch your betting dollar and provide you even more fun when wagering. Just be sure that when you take advantage of these deals and you understand the terms and conditions of these offers as they can impact payouts if you do not meet the requirements to withdraw.
Understanding the wager process and types of wagers are equally as important. While we have touched on the most common types, the spread, moneyline, over/under and parlay, there are more types of betting options out there and you may want to explore them as you gain more experience betting real money at these sites.
Whichever sites you choose to place your bets at, be sure and place a variety of bets on different sports. While the focus of this article has been on professional team sports, those are not the only type of sports you can bet on. You can place bets on college sports, individual sports such as boxing or mixed martial arts and believe it or not, some even take bets on professional wrestling. Take time to learn and enjoy yourself. Good luck!