Getting started with sports betting can feel a bit daunting. Odds, bet types, sportsbooks, markets — it’s a lot to take in. But don’t worry — this guide walks you through the process step by step, with everything explained in plain English.
Whether you’re backing your favourite football team or just curious to try it out, you’ll learn how to set up an account, choose the right bets, avoid common mistakes, and bet responsibly — all while enjoying the thrill of the game.
Article Contents
What Is Sports Betting?
Sports betting means placing money on the outcome of a sporting event. If your prediction is right, you win — and if it’s wrong, you lose your stake.
You can bet on almost any sport: football, horse racing, tennis, cricket, Formula 1, darts — even virtual sports and esports. But there’s more to it than just guessing the winner. Different types of bets, odds formats, and strategies can make it more interesting — and more complicated.
Common Betting Terms (Made Simple)
Before we dive in, it helps to understand the language of sports betting. Here are some of the most common terms you’ll come across:
- Odds: These show how much you’ll win relative to your stake. Higher odds mean bigger potential payouts — but lower chances of success.
- Favourite: The team or player expected to win, usually with lower odds.
- Underdog: The less likely winner, usually with higher odds and a bigger potential return.
- Moneyline (Match Result): A bet on which team will win. This is the simplest option for beginners.
- Spread (Handicap): A bet that gives one side an advantage or disadvantage to even the playing field.
- Over/Under (Totals): A bet on whether the total score will be above or below a set number.
- Accumulator (Acca): A single bet that combines multiple selections. All must win for the bet to pay out.
Step-by-Step Guide to Placing Your First Bet
Step 1: Set a Budget
Before you even open a betting account, decide how much money you’re comfortable spending — and stick to it. This is your bankroll. Think of it like buying a ticket to the match — the money is spent for entertainment, not investment.
Example: You might set a weekly limit of £20. That way, even if you lose, it won’t affect your finances.
Step 2: Choose a Trusted Sportsbook
To place a real bet, you’ll need to register with a licensed online sportsbook. Choose one that’s regulated in your country and known for fair odds, a user-friendly interface, and good customer service.
If you’re in the UK, Bet365 is a highly trusted and widely used bookmaker, with a broad range of sports and markets.
If you’re in the USA, FanDuel is a top choice, offering live betting, stats, and a great user experience.
Step 3: Add Funds to Your Account
Once your account is verified, you can deposit funds using your preferred payment method:
- Debit card (most common)
- PayPal
- Apple Pay
- Bank transfer
Note: Credit cards are banned for gambling in the UK, so use a debit card or e-wallet.
Step 4: Pick a Sport and a Match
The simplest market for beginners is the Match Result — also called the Moneyline or Full-Time Result (depending on the sport and bookmaker). In football (soccer), this is often simply shown as “1X2“, where:
- 1 = Home team to win
- X = Draw/tie
- 2 = Away team to win
For most US sports like the NFL or NBA, there’s no tie/draw betting option — so you’re simply picking who will win the game (Moneyline). However, there are 3-way Moneyline betting markets with win, lose, or tie options — similar to the 1X2 format.
Example: You think the Kansas City Chiefs will beat the Buffalo Bills. You find the game and see odds listed as 2.10 (Decimal) or +110 (American) for the Chiefs to win. You click on the odds, and the selection appears in your bet slip. This means a £10 or $10 bet would return £21 or $21, including your original stake.
Step 5: Understand the Odds Format
Odds show your potential payout, but the format varies by region. Here’s a breakdown:
- Decimal Odds (e.g. 2.50): Common in the UK and Europe. Shows your total return. A £10 bet at 2.50 returns £25 (profit of £15).
- Fractional Odds (e.g. 3/1): Traditional in British horse racing. Shows profit relative to your stake. A £10 bet at 3/1 wins £30 plus your stake.
- American Odds (e.g. -150 or +200): Standard in the USA. Negative odds show how much you must bet to win $100; positive odds show how much profit you’d make from a $100 stake.
You can usually change the odds format in your account settings if needed.
Step 6: Do a Bit of Research
Don’t rely on gut feelings. Informed bets are more likely to succeed. Before placing a bet, check:
- Recent form: Has the team been winning or losing?
- Injuries or suspensions: Are any key players missing?
- Head-to-head stats: Does one team usually come out on top?
- Weather or pitch conditions: Especially important in outdoor sports.
FanDuel Research is a great resource for checking team stats, betting news, and performance data — all of which can help guide smarter selections.
Step 7: Place Your Bet
Once you’re happy with your selection:
- Click the odds next to your chosen outcome.
- It will appear in your bet slip.
- Enter your stake (e.g. £5 or $10).
- Check your potential return.
- Click Place Bet to confirm.
That’s it — your bet is live!
Top Tips for First-Time Bettors
- Stick to sports you know: You’ll make better decisions when you understand the rules and teams.
- Start with small stakes: This helps you learn without risking too much.
- Track your bets: Keep a simple log to spot patterns in your wins and losses.
- Don’t chase losses: It’s tempting to “win it back” but this often leads to more losses.
- Compare odds: Different sportsbooks may offer slightly better prices — and over time, this adds up.
Enjoy the Ride — It’s About More Than Just Winning
Sports betting adds excitement to the matches you already love. It gives you another reason to follow the action and think strategically about games — but it’s only enjoyable when done responsibly.
Focus on the entertainment, not just the money. Bet for fun, learn as you go, and remember that it’s okay to lose — even the pros don’t win every time.
Ready to Learn More?
Once you’ve placed a few bets and want to explore more advanced strategies, check out: Sports Betting 101: Basics, Strategies & Future Trends. This guide covers odds formats, bankroll strategy, betting psychology, and where the industry is heading.
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