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Are you a sports fan looking to join the betting action for your favorite leagues? You can learn tips on how to bet on sports online with the Megapari guide.

Once you decide to switch to online sports betting, the whole process is quite straightforward and typically user-friendly, but that depends on the bookmaker and how intuitive their website and app are. Here are 6 key sports betting tips to get started confidently: 

Know favorites and underdogs

Favorites, marked with a minus sign (e.g., -100), are the teams or players expected to win, but they pay out less. Underdogs, shown with a plus sign (e.g., +100), are less likely to win but offer bigger payouts. Understanding this distinction helps you weigh risk and reward when choosing your bets. 

Bet over/unders 

Over/under wagers focus on the combined score of both teams. The sportsbook sets a number, and you wager whether the total points will be higher (over) or lower (under). It’s a fun option when you’re unsure who’ll win but have a sense of the sports game’s pace.

Try moneylines

Moneylines are simple: you pick the outright winner, even with free betting. With -150 odds, you’d bet $150 to win $100 if the favorite wins. With +150 odds, a $100 bet on an underdog wins $150 if they succeed. It’s an easy way to wager without focusing on point spreads.

Understand point spreads

Point spreads let you bet on the margin of victory or defeat. For example, if the Lakers are -6.5, they must win by 7 or more points for your wager to win. Spreads are popular in basketball or football bets, evening out odds for teams of different strengths.

Manage your money

Never wager more than you can comfortably lose. Establish a budget (bankroll) and limit bets to 1-2% of it. For instance, with a $500 bankroll, betting $5-$10 is wiser than risking $50, helping you avoid rapid losses. 

Shop lines

Odds vary between sportsbooks, so compare them to find the best value. For example, one book might offer -110 while another has -105 for the same bet, saving you money over time. Line shopping maximizes your potential profits and minimizes losses.

Find Your Edge 

Track your bets to spot patterns—maybe you’re better at NFL than NBA bets. Focusing on your strengths, like specific sports or wager types, helps you refine your strategy and avoid wasting money on weaker areas.

You can always follow your pre-game bets in real time and place some in-play bets while the game is ongoing if you wish. Sports betting has made betting so much easier and more accessible, so you shouldn’t miss any significant action.

The most popular online betting winning ratio formats are easy to recognize, and top sportsbooks offer different probability based on the markets they serve. While you can place bets by knowing just the format used in your country or using a betting odds calculator, it’s helpful to understand other types too.

How do betting odds work? Megapari can break down the three main formats: American odds, Decimal odds, and Fractional odds. The chances you see will depend on your location or the platform you’re using, so it’s useful to know how each one works.

1. American/Moneyline

American odds are commonly used in the US and are also known as Moneyline. They are shown with a plus (+) or minus (-) sign in front of a number. The plus sign is for the underdog, and the minus sign is for the favorite. Your total payout includes your profit plus the original stake.

For example, if the Golden State Warriors are playing the New York Knicks and the Warriors are the favorites, the edge might be Warriors: -400 and Knicks: +300. If you bet 400 on the Warriors and they win, you’d make a 100 profit (500 total payout). If you bet 100 on the Knicks and they secure a victory, you’d get a 300 profit (400 total payout). Payouts change depending on how much you bet. 

2. Decimal

Decimal odds are simpler than moneyline ratio and make it easy to see who is the favorite and who is the underdog. For example, if you’re wagering on the total goals in a soccer game, the chances can also show what kind of match the bookie expects. Lower probability means a team or player is more likely to prevail, while higher edge means they are less likely to succeed. If you’re betting on soccer, the site will also provide a winning ratio for a draw, so you can just use the sports betting calculator provided. 

Let’s look at another example from soccer. Imagine a La Liga match between Sevilla and Real Sociedad. The sportsbook has set the following ratio:

Sevilla to win: 2.80

Draw: 3.30

Real Sociedad to win: 2.40

From such probability, we can see that Real Sociedad is a slight favorite, but it’s not a strong difference. If you bet 10 on Sevilla to win and they win, your total payout would be 10 x 2.80 = $28. It’s simple and easy to calculate.

3. Fractional

This format is mostly used in the UK and Ireland and is sometimes called “British odds.” They are written as two numbers separated by a slash (/) or hyphen (-). This edge shows the potential profit you can make from a sports game, not including your original stake or a free bet.

To understand fractional edge at sports betting, the number on the left is the profit you can win, and the number on the right is the amount you need to bet. For example, if the ratio is 5/1, you would bet 1 to win 5. If you bet 10, you’d win 50 in profit, plus your $10 stake back.

Sometimes, the fractional edge appears reversed, like 1/10 or 2/5. These are called “Odds-On” selections and are used when there’s a strong favorite. For example, with a 2/5 ratio, you’d need to bet 5 to win 2.

Understanding an online bookmaker’s platform doesn’t have to be complicated. Some features can add more value to your wagers, and knowing how to use the cash-out option can be very helpful.

Most popular sports offered by trusted betting sites include a cash-out feature. But what does cash out mean, and what are the types? Megapari will explain the meaning of cashing out and its common types to make the most of your bet.

What is Cash Out in Online Sports Betting?

In online sports betting, “cash out” is a specific tool that lets you settle your bet early. This option allows you to collect part or all of your potential winnings before the sports game ends, but it’s only available for select games. This feature can come in handy if you bet on new sports or simply are new to betting.

In the past, you could only place a pre-game wager and wait until the end to see the result. Now, with cash out, you can secure some of your potential earnings early to avoid losing everything. How much you can cash out depends on how your bet is performing at that moment. Most sportsbooks offer this option for both pre-game and live stakes, and it can apply to any sport.

Full Cash Out

The full cash out is a pretty common option at online betting sites. With it, you are to close your bet early and receive the full payout offered by the sportsbook. Once you accept the offer, the bet is settled, and you get the specified amount right away. No strings attached.

Partial Cash Out

Some sportsbooks let you cash out part of your bet while leaving the rest active. This way, you can secure some winnings early and still keep some part of the bet running for the rest of the game if you are not sure about the outcome 100%, for example. If done well, this can lead to profits both from the partial cash out and the final result of the match.

Auto Cash Out

Auto Cash Out is a convenient tool that lets you set a stop on a specific amount for cashing out. If your wager reaches that amount during the game, the sportsbook will automatically cash it out for you, so you can think of several outcomes in advance. Once you set the desired amount, you don’t need to monitor the game—you can log out and avoid waiting around with our sports betting tips.

Cash Out in Real Life

The cash-out feature is simple to understand, so let’s look at an example. Imagine you bet on a three-team parlay: the Lakers, Bulls, and Celtics all to win their games. The odds are 10/1, and you placed a 10 bet, which could pay 100 if all three teams win. Still, there is too much of a risk to take at online betting.

The Lakers and Bulls win their games earlier in the day, but the Celtics game starts later at 8 PM. Before the live game begins, the sportsbook might offer you $25 to cash out early. Once the Celtics game starts, the cash-out amount will change based on how the game goes down. If the Celtics perform well, the offer may increase. But if they struggle, the cash-out value will drop.

Timing is key when using the cash-out option. Some bettors prefer to cash out as soon as they secure a profit, while others wait to maximize their potential earnings. The strategy you choose is up to you, but planning carefully can help you get the most out of your free bets.

Sports betting offers many options, and the type of bet you choose depends on your style and preferences. Each type of wager provides a different way to wager on sports, events, or games. Megapari goes over the 5 main types of best sports bets you can place at online sportsbooks. You don’t need to memorize every detail, but knowing the basics helps when picking the right stake for you.

Moneyline

If you’re wondering how to bet on sports, this is the easiest wager. You choose a team to win. That’s all. When you check a game on a sportsbook, moneyline stakes are usually listed first, alongside spreads and totals. Games aren’t always equal, so the odds differ. If one team is weaker, they get higher odds, which means a bigger payout if they win. The stronger team has lower odds, so the payout is smaller.

Point Spread

Spread bets make things interesting by leveling the competition. The weaker team gets “extra” credit added to their score. For example, if the Chicago Bulls are favored over the Boston Celtics with a spread of:

Chicago Bulls: -6

Boston Celtics: +6

The sportsbook expects the Bulls to win by 6 points. Betting on the Bulls requires them to win by 7 or more points. Betting on the Celtics means they must win or lose by 5 or fewer points. The spread adjusts the final score: 6 points are subtracted from the Bulls’ score or added to the Celtics’ score to determine the result.

Totals (Over/Under)

Want to stake on the score but not pick a winner? Try totals at online sports betting. You bet on whether the combined score of both teams will be over or under a number set by the sportsbook. Let’s say you’re free betting on a basketball game between the Los Angeles Lakers and the Boston Celtics. The bookmaker sets the over/under at 215.5 points. If you bet the “over,” you’re predicting the total score will be 216 points or more. If the final score is 110-108 (218 total credits), you win because it’s above 215.5. But if the score is 105-102 (207 total points), you lose since it’s below the line.

Parlays

Parlays let you combine multiple wagers into one. This can increase your payout, but every bet must win, or you lose it all. For example, say you pick:

Dallas Cowboys to win – Moneyline bet (odds: 2.00)

Lakers vs. Warriors, Over 220 points – Totals bet (odds: 1.90)

New York Yankees to win – Moneyline wager (odds: 1.80)

Multiply the odds:

2.00 × 1.90 × 1.80 = 6.84

If you bet 10 and all three predictions are correct, you’d win 68.40 ($10 × 6.84). But if any one of them loses, the entire parlay is lost. 

Teasers

Teasers are like parlays in that you bet on multiple outcomes and need all your predictions to be correct to win. The main difference is that with teasers, you can adjust the point spreads or totals in your favor—though this adjustment reduces your potential payout.

When placing a teaser bet, you’re allowed to shift the point spreads or over/under totals by a specific number of credits, as determined by the sportsbook. In football, the typical adjustments are 6, 7, or even 10 points, while in basketball, they’re usually 4, 5, or 8 points. All parts of the teaser must use the same point adjustment, but the direction of the shift can differ for each team or sports game.