A quick guide to what every newbie sports bettor should know

Getting started with sports betting can be exciting if you want to get straight into the action. However, using a bookmaker can be rather complex for beginners. Not knowing its elements can mean overlooking features that would otherwise be helpful for you. That’s why you need a guide to learn the ins and outs of online sports betting.

Online sports betting is a service provided by web app bookmakers like Gamdom to punters world wide. It brings the authentic betting experience to mobile devices, making the activity more convenient than traditional bookmaking of any sport. Without further ado, here’s everything a newbie gambler needs to know about sports betting:

Important elements in sports betting

The first step in sports betting for beginners is knowing what are the important elements in a bookmaker. All of those are detailed below including their definitions and role in your experience as a punter:

Market

Every kind of bet you can make in a sports event is divided into classifications called ‘markets’. This refers to a specific scenario like who would win the game or how many points will be scored in a given time frame. The choices underneath them are the outcomes you can place your bets on per market. Here are some examples that you’ll always find in Gamdom:

Winner bet

This is the most straightforward market in which you guess who would win the game out of two competing teams or players. Many sports also include the possibility of a tie where the game ends and the competing sides have equal scores. If there is a tie-break rule to end the match with one winner, then the winner bet concludes without including the results of the overtime. 

Winner bets can also be on specific periods like rounds, innings, or stage of the game. For example, tennis is divided into six games per set and there can be a market for which side would have the highest score at the end of each one. 

Over/under bet

This is a market for betting on scores total in a sports match. Unlike winner bets, you won’t be guessing between one team over the other. Instead, you are staking on whether the total points accumulated in the match will reach above the sportsbook's arbitrary threshold or not. 

The market includes many increments for multiple chances of winning in a single match. All of these increments come with an additional 0.5 value to avoid an outcome where the total is equal to the threshold value. 

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Handicap bets

This market is usually a derivative of a different type of bet. Winner bet is the most popular example where the rules of winning the wager is the same as normal but one side is given an advantage over the other. Handicaps in sports betting come in the form of additional points to make winning more likely for one side. 

You can use the handicap to win higher payouts because it closes the gap in odds between outcomes. Bets on the underdog become more likely to win because they have a point advantage that counts at the end of the match. Meanwhile, wagers on the favourite pay more because their lead is minimised or eliminated by the handicap.

Betting odds

Every outcome in a market comes with a number called the ‘odds’. It indicates a choice’s chances of winning and the payout you can win if you bet on it. Odds can rise and drop depending on the popularity of the outcome relative to the others in the same market. 

Higher numbers mean that it’s the underdog while the opposite is true for the favourites. How much a bet pays depends on how the odds are presented. There are several options you can choose from including the following:

American 

This is always written in hundreds with a positive (+) and negative (-) sign. The underdog has a positive sign and it indicates how much you’ll win if you bet $100. Positive digits represent the favourites, stating how much you’ll need to bet to win $100. 

Decimal

This format is a lot more direct because you just need to multiply your stake by the odds to calculate your total profits (stake*odds = total profit). Most of these only have 1-digit whole numbers followed by 1- to 2-digit decimal numbers or zeroes (00). Higher odds equate to lower payout in this format so the favourite is typically less than 2.00 in a market.  

Fractional

This format follows the same calculations as decimal but represented in a different way. You just have to multiply your stake with the numerator then divide its total with the denominator ([stake*numerator]/denominator = total profit). Newcomers to this format can be confused at first glance but the general rule of thumb is that the favourite is whichever has the lower payout.

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Bankroll

The bankroll refers to your budget for staking in sports betting. You decide how much this is going to be in a single session. It can be a specific amount as a self-imposed limit, the entirety of your account balance, or an amount deposited plus casino bonuses redeemed. 

What makes this element so important is its involvement in every sports betting tips for beginners. You will often find new strategies online and it always includes how to manage your bankroll. It can be a betting system like the Martingale method or bet spreading plans shared by a successful punter on their blogs for you to copy. 

How to bet on Gamdom 

The next important set of details you need to learn in a beginners guide to sports betting is how to start placing wagers. It involves making an account at Gamdom and navigating its interface. Here are the steps you need to follow from registration to placing your wager:

• Register
  • Click on ‘register’ at the top right corner of the Gamdom page. Input your username, password, and email address. Read the terms of service before agreeing then click on ‘start playing’.
• Deposit
  • While logged in, go to ‘wallet’ found at the top right corner of the Gamdom page. Choose any cryptocurrency option then deposit cash via peer-to-peer (P2P). Either scan the QR code provided using a third-party wallet or copy the provided wallet address then paste it as the recipient of crypto deposit.
  • Alternatively, you can buy cryptocurrencies at Gamdom via MoonPay. This lets you deposit fiat currencies and convert them into a digital asset like Bitcoin (BTC).
• Go to a particular sport and look for the match you want to bet on
  • Go to the Gamdom bookmaker by clicking on ‘sports betting’ at the menu. Find the sport you like and browse through its list of events. For example, the tennis tab shows all the scheduled games and who is playing in them. These will include tennis tournaments like the Grand Slam.
• Choose outcomes from any market
  • Choose any match from the list of Grand Slam events in Gamdom. Select an outcome from among its markets to place in your bet slip.
• Choose bet amount
  • You can input any wager size you wish on the bet slip for every bet you’re making. However, it won’t let you finalise if the size is more than what’s available in your available Gamdom account balance.
• Place bet
  • Once you’ve decided on the outcome and the stake size, click on ‘place bet’. This finalises the bet slip and you just have to wait until the market is resolved. If you win, then you get paid in the same currency you used to bet. 
     

Why bet at Gamdom?

Gamdom offers the best crypto online sports betting for beginners. Fun promotions await you, ready to give you rewards that will help enhance your online gambling experience. Gamdom also features major events like the Grand Slam every season. Be sure to allow notifications to be sent to your email so you don’t miss out on fun events. 

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