Complete Sports Betting Guide
Everything you need to know to start betting on sports. From understanding odds to managing your bankroll, this guide covers it all.
Table of Contents
1. Understanding Betting Odds
Before placing any bet, you need to understand how odds work. In American sports betting, odds are expressed as positive or negative numbers that tell you two things: how likely an outcome is, and how much you'll win.
Negative Odds (Favorites)
When you see a negative number like -150, this tells you how much you need to bet to win $100. A -150 line means you'd need to risk $150 to win $100 profit. The larger the negative number, the bigger the favorite.
Example: Chiefs -150
Bet $150 to win $100 profit. If the Chiefs win, you get back $250 total ($150 stake + $100 winnings).
Positive Odds (Underdogs)
A positive number like +130 tells you how much you'd win on a $100 bet. A +130 line means a $100 bet returns $130 profit. The larger the positive number, the bigger the underdog.
Example: Raiders +130
Bet $100 to win $130 profit. If the Raiders win, you get back $230 total ($100 stake + $130 winnings).
2. Types of Bets
Sports betting offers several ways to wager on games. Here are the most common bet types you'll encounter:
| Bet Type | What It Means |
|---|---|
| Spread | Betting on the margin of victory |
| Moneyline | Betting on who wins outright |
| Total (O/U) | Betting on combined score |
| Parlay | Multiple bets combined into one |
| Prop | Betting on specific events within a game |
| Futures | Betting on season-long outcomes |
3. Point Spreads Explained
The point spread is designed to level the playing field between two teams. The favorite "gives" points while the underdog "gets" points. This is the most popular way to bet on football and basketball.
Example: Bills -7 vs. Dolphins +7
If you bet the Bills -7, they need to win by more than 7 points for you to win. A Bills victory of 28-20 (8 points) would be a WIN.
If you bet the Dolphins +7, they can lose by up to 6 points and you still win. A 28-24 loss (4 points) would be a WIN for Dolphins bettors.
If the Bills win by exactly 7, it's a "push" and all bets are refunded.
Why Spreads Exist
Without spreads, everyone would just bet on the better team. Spreads create balanced action on both sides, which is how sportsbooks make money through the "vig" or juice (typically -110 on each side).
4. Moneyline Betting
Moneyline bets are the simplest form of sports betting - you're just picking who wins. No point spreads, no complications. The odds reflect each team's probability of winning.
Example: Lakers -180 vs. Rockets +155
Lakers -180: Bet $180 to win $100. Lakers are favorites.
Rockets +155: Bet $100 to win $155. Rockets are underdogs.
Pro Tip: Moneyline Value
Moneyline underdogs can offer excellent value, especially in hockey and baseball where any team can win on any night. A +200 underdog only needs to win 33% of the time to be profitable long-term.
5. Over/Under (Totals)
Totals betting lets you wager on the combined score of both teams without picking a winner. You're simply betting whether the final score will be OVER or UNDER the posted number.
Example: Celtics vs. Heat - Total 215.5
Over 215.5: Combined score of 216 or more wins
Under 215.5: Combined score of 215 or fewer wins
If the game ends 112-108 (total: 220), the OVER wins.
Factors That Affect Totals
- Pace of play - Fast teams push totals higher
- Defense - Elite defenses push totals lower
- Weather - Wind and cold lower football totals
- Injuries - Missing scorers affects totals
- Rest - Back-to-back games often see lower scores
6. Parlays and Teasers
Parlays combine multiple bets into one wager. All selections must win for the parlay to pay out, but the potential payout is much higher than betting each game individually.
Example: 3-Team Parlay
Chiefs -3 + Lakers -5 + Over 45.5 (NFL game)
$100 bet at +600 odds = $600 profit if ALL THREE win
If any single leg loses, the entire parlay loses.
Parlay Warning
While parlays offer exciting payouts, they're mathematically disadvantageous. The house edge compounds with each leg. Stick to 2-3 leg parlays if you play them, and never bet more than 5% of your bankroll on a single parlay.
Teasers
Teasers let you adjust point spreads in your favor across multiple games. A 6-point NFL teaser moves each spread 6 points in your direction, but all legs must still win.
7. Bankroll Management
This is the most important section of this guide. Proper bankroll management is what separates recreational bettors from serious ones. Without discipline, even the best handicapper will go broke.
The Unit System
Professional bettors use "units" to standardize their bets. One unit typically equals 1-2% of your total bankroll.
| Bankroll | 1 Unit (1%) | 2 Units (2%) |
|---|---|---|
| $1,000 | $10 | $20 |
| $5,000 | $50 | $100 |
| $10,000 | $100 | $200 |
Golden Rules of Bankroll Management
- Never bet more than 5% on a single game - Even your strongest plays should be capped
- Don't chase losses - Increasing bet sizes after losses leads to disaster
- Track every bet - You can't improve what you don't measure
- Set loss limits - Know when to walk away for the day/week
- Only bet what you can afford to lose - This is entertainment, not income
8. Following Sharp Money
Sharp bettors are professional gamblers who consistently beat the closing line. When multiple sharps agree on a play, it's called "sharp consensus" - and it's one of the most powerful indicators in sports betting.
Why Consensus Matters
Individual experts have hot and cold streaks. But when 70+ professional handicappers all land on the same side? That's signal, not noise. Our platform at Sports Betting Prime tracks 700+ expert handicappers daily to identify these high-consensus plays.
How to Use Consensus Data
- Look for games with 65%+ expert agreement
- Compare consensus picks to line movement
- Higher consensus = stronger confidence signal
- Use consensus as confirmation, not sole decision factor
Line Movement
When sharp money hits a game, the line moves. If a team opens at -3 and moves to -4.5, that's called "steam" - large amounts of sharp money betting one side. Following line movement helps you identify where the smart money is going.
Ready to See Where the Sharps Are Betting?
Our consensus page shows you which games have the highest expert agreement right now.
View Today's ConsensusNext Steps
Now that you understand the basics, here's how to continue your sports betting education:
- Check today's consensus picks to see sharp action in real-time
- Visit the Handicapping Hub for live odds and analysis
- Start with small unit sizes while you learn
- Track your bets religiously and review your results
- Focus on one sport initially before expanding
Remember: sports betting is a marathon, not a sprint. The goal isn't to win every bet - it's to make +EV (positive expected value) decisions consistently over time. Good luck!