For at least an hour after turning on a sports channel, you won’t hear anything about sports gambling numbers. With the legalisation of sports betting in both physical and online sportsbooks, fans are more eager than ever to get involved. In the Asian handicap market, Sbobet stands out as the leading online gaming site.

Sport betting can be intimidating because of the numerous jargon-filled terms and the lack of clarity surrounding the numbers. Here are the first five steps you should take to get involved in the exciting world of sports betting if you want to put some money on the line.

STEP 1: Determine how much money you’re willing to spend per bet

A typical bet of $20 on a major event has an expected loss of about 5%. That means that you’ll lose 5 out of every 100 bets. A high roller might want to risk 5% or even 10% per wager but will win less often. A more conservative bettor may only want to risk 1-2%, and he/she will probably win more often, but also receive smaller payouts when they do hit it big.

STEP 2: Make sure you have enough money in your bankroll

If you are placing 5 bets totaling $100 each week, then your starting bankroll should be at least $500. It’s not unheard of for experienced sports bettors to have bankrolls with six or even seven figures. The most important thing is to calculate how much you can afford to lose and play within those limits, for if you go 5 or 10% of your money each time and don’t win, you’ll be broke in no time.

STEP 3: Decide which events you want to bet on

There are four main types of bets that you should understand before placing a sports wager: straight bets, parlays, teasers, and if bets.

A straight bet is simply betting on the outcome of an event. Straight bets are the easiest way to bet because there are only two possible outcomes–either Team A will beat Team B or Team A will lose to Team B. The team you bet on has to win the game for you to be victorious. The payout is determined by a bookie and varies from sport to sport, but it is normally slightly favorable toward the underdog. For example, if a football line were -7 (-110) then a bettor would need that team to win by more than seven points in order to win his bet.

Parlay bets are straight bets grouped together as one wager. In order for a parlay wager to become “cashed” (i.e., resulting in a winning ticket), every selection must win their respective match-up, or else the entire blended wager is considered lost .

Another popular and common way to bet is by taking the over/under or total. This type of bet requires you to correctly predict whether the team will go over or under a predetermined number. For example, you could think that the total score for two teams playing each other would be 20 points and place your money on ‘over’ 20 points. If both teams combine for more than 20 points, then the “over” wager wins; if both teams combine for less than 20 points, then the “under” wager wins; and if one team scores more points than predicted and the other scores fewer, then no wager is won (and therefore there’s no money to be won).

STEP 4:  Finding good odds

If you’re more interested in making some money, you’ll probably want to look at odds on the underdogs. This is where a more experienced sports gambler will have an advantage over those who are less familiar with the technicalities of gambling. Generally speaking, you should go where the most money is going if you’re looking for a good opportunity to make some cash.

STEP 5: Collect your money

When it comes time to collect your winnings or pay your losses, depending on how it all works out, don’t be afraid to cash out early. Even online gambling sites understand that people come and go so they offer the ability for players to take their winnings and leave before something happens that could alter the outcome of a bet. With all that being said, there is no standard way to gamble on sports. Some people have been doing it for years without being successful while others have made a fortune from betting on sports games. Every gambler has their own way of going about things and they’re not always right but what they do know is that winning is everything.

Final Note

Now earn! The 5 steps we just went over are all you need to be able to bet on sports and make a lot of money. Now that you know how to pick out the right team, it’s time to place your bets.