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What is sports betting? | Complete Guidance Before You Start

Sports betting has evolved hugely over the years, but the principles are still very much the same as ever. It’s all about placing wagers on teams and players – and how you think certain matches and games will go.

The advent of online betting has opened up a world of different markets and possibilities for sports fans. In fact, for people who are just getting started, betting can sometimes seem a little confusing.

In this complete sport betting guide, we show you:

  • How sports betting works.
  • The different types of bets available.
  • How you can get started with betting on sports.
  • Some top tips on betting via sportsbooks.
  • Some of the most popular sports available for you to bet on in the Philippines.

How does sports betting work?

Sports betting is all about odds. At any bookmaker or sportsbook, you will find odds listed for different outcomes in specific games.

These odds appear as fractional (2/1) or decimal (2.00). They tell you how likely a sportsbook thinks an outcome will occur.

For example, if Manchester United are 2/1 to win, you get ‘2’ back for every ‘1’ you bet. Therefore, the higher the odds, the more money you stand to win.

However, the lower the odds, the more likely the outcome will take place. ‘Favorites’ are teams and players with the lowest odds. ‘Underdogs’ and ‘outsiders,’ meanwhile, have the highest odds.

Sportsbooks set odds and handicaps very carefully. After all, they’re the experts and study form intensively.

Sports Betting Online

How to bet on sports online

There are various sportsbooks available for you to bet with in the Philippines. From 1xBet to 20Bet and BetWinner, different sportsbooks have different odds and markets available for you to bet on. It’s worth looking into the different sites available to check different markets and to see if your favorite sports are covered. After all, you can register with multiple different sportsbooks and bookmakers if you wish! This way, you can also take advantage of different offers and bonuses if you use online betting sites more frequently.

Thankfully, betting on sportsbooks in the Philippines is legal and straightforward – both on local sites and globally. However, it’s always a good idea to check whether a sportsbook allows bettors from the Philippines. The rules will vary from site to site depending on the countries you register in. So, don’t go ahead and start until you’ve read the terms.

Getting started with online sportsbooks is quick and simple. In most cases, you need to register a free account and supply some identification to get started. Therefore, when registering, make sure to have a photo ID and proof of address available.

During the registration process, many sportsbooks will allow you to claim promo codes and bonuses. These bonuses let you play with extra credit on top of anything you deposit. Be careful to read any terms and conditions that apply if you want to take advantage of them.

Once you register and confirm your email address, most sportsbooks will let you log in and start browsing the sports. Most sites have a sport betting guide, giving you a tour of different events, markets and odds. It’s wise to follow them so that you get used to the site and find out what’s available to you!

Beyond the sport betting guide, familiarize yourself with payment options. Many sportsbooks accept cards from popular issuers such as Mastercard (MC) and Visa, while others use PayPal. Check the payment and withdrawal terms before you start. For example, make sure that you know your minimum deposit and withdrawal terms.

Otherwise, depositing and withdrawing via online sportsbooks is simple. In most cases, provided that you’re fully registered and authenticated, you can simply enter what you’d like to pay with. Then, click through to your card issuer or e-wallet and confirm the transaction.

The same generally applies to withdrawals. Most sportsbooks have made it straightforward for bettors to withdraw money from their accounts, provided that they meet the requirements. For example, if you accept a bonus code, you might need to bet a certain amount of money before withdrawing.

Once your sportsbook account has funds, you can explore the sports and markets available. Use your sportsbook’s sport betting guide to find different markets and odds that appeal to you.

How to place a bet

Placing bets can be a fine art. Some bettors, for example, choose to limit how much they spend per bet. This helps their bankrolls to travel further and ensures that they don’t spend too much on one event.

For example, you might choose to spend 10% of your bankroll on a single bet. If you have 100 PHP available, this means that you’d bet 10 PHP on a specific market or outcome. Doing so prevents you from losing your entire bankroll on a single bet.

To place bets at a sportsbook, in most cases, you need to look for a sport you’re interested in. Then, you choose a specific match or game.

For example, you might want to bet on Champions League football. You’d follow the option for ‘football,’ then ‘Champions League,’ and then look for a match. So, let’s say that you choose a match between Bayern Munich and Manchester United. Here, you might see that Bayern Munich are the favorites to win at 3/1 odds.

Remember, the way that odds and markets appear in different sportsbooks varies depending on the site you choose. Be sure to explore different options and markets available to diversify your experience.

Of course, measuring risk as healthily as possible is also wise. When betting on sports, there are never any guarantees that you will win. Therefore, it’s important to build a risk strategy based on your own personal circumstances.

Instead of relying on systems based on luck, build strategies based on what you can afford. Many sportsbooks have bet limit tools available, so you can restrict how much you deposit and play on sports. By following the 10% rule, for example, you can ensure that you can feasibly afford to bet.

Above all, consider your risk tolerance. How much money can you comfortably afford for betting? The moment that betting feels like something you need to do, step away. Never chase a win, even if you’ve had a run of bad luck.

By following a site’s sport betting guide, you can create your own online slips that record your wagers. You can review these slips to see your potential returns and come back to them once matches and games finish.

If you happen to win, the money you’re due will transfer into your sportsbook wallet. In most cases, you can withdraw these funds (after wagering requirements) to your card or e-wallet.

Again, sportsbooks vary regarding terms and conditions, so always read the fine print.

Types of bets

It’s easy to assume that most bets are ‘straight’ – that is, you simply place money on an outcome, and if it happens, you receive money back. Of course, straight bets are some of the most popular among bettors online, but they’re not your only option.

For example, some people place money on:

  • Spread bets
  • Over/under bets
  • Parlay bets
  • Handicap in bets
  • Moneyline bets

While you’re betting on the same sports and events, these all offer different ways for you to win money. Again, none of them are guaranteed, so be sure to research the options wisely.

Spread bets

While straight betting lets you decide the outcome of an event, spread betting lets you predict the final score – this is, whether or not a chosen team or player ‘beats the spread.’

For example, let’s say that you want to place a spread bet on Arsenal vs Real Madrid. Specifically, you want to bet on Arsenal to win. If they’re the favorites to win the match, you would bet on them to beat a ‘point spread.’

A sportsbook, therefore, might say that Arsenal has a point spread of -1.5. This means that Arsenal needs to win the match against Real Madrid by at least two goals.

Underdog betting, meanwhile, is a little different. Spread betting on non-favorites means that you either choose them to win or to lose by a margin.

Let’s say that Real Madrid are the underdogs in the match above. Your sportsbook advises a spread of +0.5. To win on the spread, you’d need Madrid to lose by at least one goal.

In football, spreads typically take place across one to three goals. They vary in other sports – for example, ice hockey, where you’d bet on the ‘puck line.’

People place spread bets, as doing so can mean higher odds and higher prize opportunities. It’s also an interesting twist on straight betting.

Over/under bets

Over/under bets are similar to spread bets in that you deal with a specific figure. However, these bets typically focus on overall scorelines.

As an example, consider a rugby match. A sportsbook might tell you what it predicts the final total score will be. This is between both sides. This type of bet is sometimes called a ‘total.’

You then decide whether or not the final score between both sides will be over or under the sportsbook’s prediction. In some cases, there are odds for highly specific outcomes.

Over/under bets carry just as much risk as others we list here in our sport betting guide. Over and under bets are popular with the online betting crowd because they can open up larger odds. Again, these bets are an interesting way to diversify your betting slip(s).

Parlay bets

Many sport betting sites allow you to combine multiple wagers into a ‘parlay.’ In some cases, you’ll see parlay betting referred to as an ‘accumulator.’

Parlay and accumulator bets let you combine several outcomes and odds into one bet. You can also combine different sports. For example, you could bet on Max Verstappen to win the F1 Championship. Then, add Andy Murray to win Wimbledon and AC Milan to win the Champions League.

Doing this increases your odds. They multiply as you add more bets to your parlay slip. This is because to win on a parlay, you need all your bets to win.

Let’s say, from our example, that Verstappen wins the F1 Championship. That’s leg one. If Murray wins Wimbledon, that’s leg two. To cash out fully and win on the parlay’s total odds, you need AC Milan to win the Champions League.

If they don’t, you lose the bet. Therefore, parlay and accumulator betting are considered high-risk. It’s not a betting strategy we’d recommend to novices reading our sport betting guide. However, if in time you’re confident enough to try it, always read the fine print at your sportsbook.

Parlay betting sometimes arrives with different deals and bonuses. Again, always read any legal terms attached before you take part.

Handicap in bets

Handicap betting is, in a way, a sportsbook setting you a challenge. Instead of letting you cash out on a win, for example, your pick might have to win by a certain amount.

Let’s look at basketball betting for a moment. Say the LA Lakers are playing the Chicago Bulls. The odds might be short for the Bulls to beat the Lakers. However, they might be longer if you bet on a handicap market.

Instead of just betting on the Bulls to win the match, you could bet on them to win by 20 points. Or a sportsbook might demand that they score at least 30 points in each quarter.

This type of betting adds a new challenge and makes certain markets more interesting. It increases odd sizing for bettors, meaning that the possible prizes could be higher. However, it also means that you have less chance of winning.

Moneyline bets

The moneyline bet is one of the most straightforward you’ll find in a sportsbook. Compare to the more complex handicaps and spreads, the moneyline bet is a more simple, straight wager.

In matches and games where there are two combatants, this type of bet is particularly popular. However, you’ll find that on any moneyline market, the odds between the two parties involved will be very different. This is by design, so that the sportsbook can clearly show you who it feels is the favorite and who is the underdog.

Betting on the moneyline from match to match often requires understanding a sport and its players’ form. This means that you need to ideally do some research to make confident bets! Luckily, plenty of football betting and other sports betting sites give you detailed breakdowns and statistics.

In some cases, you can bet on the moneyline mid-play. This means that the odds you bet on can change depending on the way that a game transpires.

Sportsbooks betting tips

Let’s run through some quick betting dos and don’ts.

Do check weather and injury reports

On a clear day and with a full team, your favorite side might be odds-on to win a match. However, poor weather and player injuries can change the odds and forecasts dramatically!

Therefore, it’s always a good idea to keep track of both the matchday weather and team health. This is especially the case if you’re betting on the moneyline. To avoid weather and injury affecting bets, some sports fans choose to place wagers in play.

Bet with your head and know when to quit

Sports betting is all about mathematics. It’s never wise to follow your heart or to chase a win.

Therefore, if you feel that betting is becoming a compulsion, be firm and walk away. As mentioned above, many sites let you set limits. This means that you won’t be able to place further bets or deposit more money past a certain point.

Know the difference between home and away games

In many sports, there are “home” games and “away” games. “Home” means that a side is playing on their turf or at their ground. “Away” means they travel to their competitors.

It’s worth knowing the difference because some teams and players might play more confidently at home than away.

Try to focus on a single sport and research it

The only real way to get ‘better’ at betting is to specialize! For instance, you could focus on boxing betting or on online betting on basketball.

Specializing gives you more opportunity to learn about form and rules and helps you to read odds better. Diversifying with different sports is tempting. There’s certainly nothing wrong with a diverse betting slip but focusing on one or two sports sharpens your focus.

Popular sports in the Philippines

Bettors in the Philippines enjoy a broad range of different sports to place wagers on. For example, you’ll commonly find odds and markets across sportsbooks in the Philippines that cover:

  • Basketball (e.g. the NCAA March Madness)
  • Tennis (e.g. the French Open)
  • Football/soccer (e.g. the Champions League)
  • Horse racing (e.g. the Kentucky Derby)
  • Esports (e.g. League of Legends)
  • Athletics (e.g. the Commonwealth Games)

It’s also common for bettors in the Philippines to sign up and bet at sportsbooks based at home and abroad. You’ll frequently find sportsbooks and betting sites covering the above sports as a priority. That said, there are plenty of sites that cover niche sports and events. For instance, you might find a large focus on athletics during the Olympic Games. With regard to the most popular events, however, you can find results for those sports via news articles such as these, updated 24 hours a day.

You don’t have to follow the most popular sports to start betting. Find events and markets that interest you and choose sports that you have some prior knowledge about.

FAQ

To conclude our sport betting guide, here are some frequently asked questions about placing bets online.

How do you bet on sports effectively?

Start by managing a healthy bankroll. Only deposit what you can feasibly afford, set limits, and know when it’s best to walk away. Specialize in one or two specific sports if you can. Learn how different types of odds work in practice and do plenty of research! This means looking into the form of different teams and players, not just your favorites.

Which sport is easiest to bet on?

There’s no one or two sports that are easiest to bet on. However, sports such as tennis, football/soccer, cricket and boxing all have highly varied markets. What’s more, these sports are often the most open to upsets and big changes mid-play. This doesn’t always mean that they are easy to bet on, but there’s often a lot of choice.

What are some betting tips for beginners?

If you’re just starting out in sports betting, always set safe limits. Also, remember that research is key! The best betting strategies revolve around knowing who’s the best in a given sport. However, remember that this doesn’t always mean betting on the favorite. Some of the most interesting betting opportunities arise when you choose the underdogs. Remember to also carefully read bonus terms and conditions.

How do I place sports bets?

Head to an online sportsbook or bookmaker. Sign up, verify your identity, and deposit money into your account. Then, use its sport betting guide to find events, markets and odds that interest you. Place bets and wait for the results to come in. Once the events are over, if you win, the sportsbook will fund your account with any money you are due back.

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