Canva/CC

Online sportsbooks are now the most popular platform for wagering on athletic competition. Despite their immense popularity, they are still growing. Which means a lot of newcomers are just now joining their first online bookie. Plenty of these users may not know how online sportsbooks work, and what you need to know to use them. That is why we are here. Let us look at a few things you need to know about online sportsbooks.

Are They Legit?

The first question on everyone’s mind is, of course, whether online sportsbooks are legit or not? The answer is yes, they are legit. However, there is a caveat. Online sportsbooks that are licensed, regulated, and reviewed, are indeed legitimate, safe, and fair. If you are going to be sports betting online, do it on those.

But, there are plenty of unlicensed websites that operate illegally. That is why, it is incredibly important to go over a website, check out as many reviews as you can, and study its reputation before you use it. Luckily, in 2023, that is easier to do than ever before.

Bonus Promotions

Of course, one of the things that most people like about online sportsbooks are the bonus offers. Promotions can help you better understand the sports betting industry, and can also help newcomers get a feel for the site without spending any cash.

However, can bonus promotions help us win money? Well, in theory yes. However, in practice, bonuses don’t payout all that frequently. For the most part, they serve as a fun way to introduce yourself to the new industry and explore your options. Still, there have been gamblers and bettors who’ve gotten decent payouts from bonus bets.

Reading the Odds

Of course, every bettor needs to learn how sports betting odds work. If you are wagering online, you will primarily face three different odds. Let us take a look at the three different odds types that you need to be familiar with.

• Decimal odds

Decimal odds use decimal numbers to determine the payout. For example, if the sportsbook has placed the odds Team A at 2.51 and Team B at 4.64, it means that for each $1 wagered, you will get $2.51 if you wager on Team A, and $4.64 if you wager on Team B, provided your chosen team wins of course. In other words, Team B is the underdog in this game, so their victory yields a higher payout.

• Fractional odds

In much a similar vein, fractional odds use fractions. The upper number represents the amount you can expect to win, whereas the lower number represents the amount you have to wager. For example, if Team A’s odds are set at 6/2, that means that for every $2 wager, you win $6.

• Moneyline odds

Finally, moneyline odds use positive/negative numbers to determine the outcome, in sums of $100. For example, if Team A’s odds are +320, and Team B’s are set at -152, that means that Team B is the favorite here. You have to wager $152 in order to win $100, for a total of $252. On the other hand, Team A are the underdogs, and if they win, a bettor can win $320 for a $100 bet.

If you have a gambling problem, or know someone who does, you can find national gambling addiction hotlines and state resources for gambling hotlines here.