Top Online Sports Betting Sites for 2024

Understanding Betting Odds

Equally as important as choosing a great site is learning how to read odds. Odds for any game or sport determine how much a potential payout would be. The initial opening odds represent how probable an outcome the sports book believes will happen. For example, if the top team or individual in the league is facing one of the worst, the best team is more likely to win.

This means that if you bet on this team, your payout will be relatively small. On the other hand, the potential payout for a bet on the worst team would be much greater. In sports gambling, the bigger the risk, the bigger the reward. ‘Favorite’ teams or individuals are indicated by a minus sign (-) next to their odds in point spreads. The underdogs are indicated by a plus sign (+) next to their odds.

Betting on the underdog (and succeeding) will always ensure a better payout.

Understanding Basic Bet Types

Before launching into your thrilling sports gambling career, you’ll need to familiarize yourself with the basic bets that you can make. Below, we’ve outlined some of the fundamental sports bets.

Straight Bets

The name says it all. With straight bets — sometimes called moneyline bets — players wager on the winner of the event. This wager indicates that one team (or player) will defeat another. Once the match or game concludes, the sportsbook in question scores the bet in one of three ways:

1. Loss: The team you wagered on lost. The sportsbook keeps the stake.
2. Win: The team you wagered on won. The sportsbook will return the stake, and add your winnings.
3. Draw: The game, or game segment, was a tie. The sportsbook will return your stake and the wager becomes void.

The result must pass, or ‘cover’, the point spread to win. If you are betting on the favorite, the underdog must lose by less than the point spread estimate for you to get paid. An equal difference leads to a tie, and you get your money back. In addition, if the results are exactly as estimated, bets will be void and all stakes will be returned.

Over/Under Bets

This is another bet that’s quite popular among modern bettors. It represents the total number of points scored by the two teams in a single match. The total number is set by the betting sites, and it’s up to you to choose whether the figure will be over or under that number.

Parlays

Instead of betting on a single match or event, you can use a multiple bet — or parlay. This is an excellent way to boost your potential winnings, because the payout will be more significant. Keep in mind that all the selections must win for players to win the ticket.

Progressive Parlays

As the name suggests, this bet is a subtype of the parlay bet. Here, you can bet on two or more games (usually up to a dozen). However, you will get a reduced payout if some of the selections are non-winning.

Teasers

Teasers work similarly to parlays. However, they differ in the way that gamblers get an option to subtract or add points from at least one spread bet. Typically, additional points are deducted from the favorite or added to the underdog. Remember that parlay odds are usually better than teaser odds.

‘If’ Bets

In If bets, players can make a second wager up to the initial amount. Therefore, if the first condition or event wins, the bet will progress to the second one, and so on. The best thing about these bets are the boosted odds.

Future Bets

Of course, every bet is already on a future event. However, in the case of future bets, the sports events in question last for weeks or months. For example, you can bet on the next NFL winner at the start of the season. You can still use future bets once the season starts, but the odds will decrease.

High and Low Stakes Sports Betting

Like traditional sports betting shops, the best sites come with specific limits for the size of the bets. The majority of these sites will accept bets worth as little as $1, or even $0.5. The maximum bet can range between $2,000 and $10,000. Don’t forget that the type of sport, event, or bet can affect these limits.

Furthermore, it is worth mentioning that many platforms limit the amount of money players can win in a single day. For example, they may restrict your winnings to $100,000 per day. If you’re a high roller, this may be a deterrent.

Live In-Play Betting

Even if the match has already started, you can still place bets on various outcomes at most sites. The odds and limits may not be the best, but excitement is guaranteed. When placing these events, you should act fast. The odds are always changing during live in-play betting.

Step 1: Register and Make a Deposit

Registering at a new betting site is a simple process. Once you’ve completed this step, you’ll need to choose your preferred payment method and make a deposit. You should be able to pick up a bonus or two to boost your bankroll in the process.

Step 2: Investigate Your Bet

Once you’ve decided on the bet you wish to make, you’ll need to acquaint yourself with the terms and conditions of the bet in question. You’ll also need to research your bet and find out what experts have to say about the estimated outcome. If you already have your own reasonable prediction, fantastic!

Step 3: Place Your Bet

Now is the time to take the plunge and place your bet. You’ll receive a generated bet slip before confirming your bet.

Start with Small Bets

If you are a novice, we recommend starting with smaller bets. This means that you’ll have less to lose if your predictions are way off. You can gradually increase the amount when you have a better understanding of how a particular bet works.