How to Bet - Guide for Beginners

Online betting is a fun pastime for sports fans all around the world. In the UK, top bookmakers offer markets on just about every sport you could think of, so whether you fancy a flutter on a high-profile match or something more obscure, there are always lots of exciting options available.

Before you jump into signing up with one of our recommended bookmakers, read our guide below on how to bet online. We’ll cover everything from the types of bets available to the actual process of submitting your wager.

Types of Bets Available

An important part of learning how to bet is familiarising yourself with the different types of wagers you can make. Some bets are specific to certain sports, while others can be used across the board. You’ll find a rundown of the most common formats below.

Handicap bet

Handicap bets are designed to level the playing field between two teams that aren’t evenly matched. Let’s say Man City are playing Burnley — a bookmaker might offer a handicap bet of City -1.5 and Burnley +1.5. 

Let’s say we go for City — in this scenario, 1.5 goals are subtracted from their total, meaning they’d have to win the match by two goals to win the bet. If we choose to back Burnley instead, 1.5 goals are added to their total, giving them a better chance of winning. This allows the bookmaker to offer similar odds for both teams and create a more competitive match-up.

Accumulators

An accumulator combines multiple selections into one bet. For the bet to win, all of your picks have to be successful. Accas are usually defined as having four selections or more, as anything smaller is referred to as a treble, double or single bet. In the US, accas are referred to as parlays and include any bet with two selections or more.

Moneyline

Moneyline is an American term referring to the most straightforward type of bet: picking which team you think will win the match. 

Over/Unders

Offered across several different sports, over/under bets focus on a particular statistic, such as goals, throw-ins or fouls. Let’s say we try and predict how many yellow cards there’ll be in the FA Cup final. The bookmaker sets a predetermined value — for example, four yellow cards — and we bet on whether we think the total number of bookings will be over, under, or the same as the stated value.

Outright Bet

An outright bet is a bet on a team or player to be the overall winner of a competition. Whereas most betting markets are aimed at upcoming matches or games that are currently in play, an outright bet can be made on an event that’s not scheduled to start for some time. You could have a punt on which NFL team will win Super Bowl LVIII, or which tennis player will go all the way at this year’s Wimbledon.

Match Result

Similar to moneyline, this type of bet simply involves predicting the result of a match. You could bet on a boxing bout to be won by either fighter or end in a draw.

Correct Score

Here you’re betting on the exact final score of a match. Convinced Arsenal are going to trounce Nottingham Forest on the opening day of the Premier League? You could back them to win 4–0 or 5–0.

First to Score

First to score is a bet on which team or player will score first in a match. Fancy Connor McDavid to open the scoring in Edmonton Oilers’ next NHL match? You can back him and win if he scores first, regardless of how the rest of the match plays out.

How to Read Betting Odds

Betting odds can be displayed in a few different ways. The two main formats in the UK are fractional and decimal. There’s also the American format, but that’s naturally less common this side of the Atlantic.

Bookmakers allow punters to switch between fractional and decimal odds depending on their personal preference, so it’s best to use the one that feels the clearest to you.

Fractional Betting Odds

Ever seen odds like 3/1 and 1/2 and wondered what they mean? Fractional odds are actually pretty straightforward once you get the hang of them. Essentially, the number on the right is the amount you have to bet to win the amount on the left.

Take 3/1 as an example — if you bet £1, you win £3 profit and your £1 stake is also returned. The easiest way to see this in action is add a selection to your betslip and play around with the stake. In this scenario, if you changed your stake to £2, your potential profit would now be £6 — the total return would be £8, including your returned £2 stake.

When the number on the right is larger than the number on the left, this indicates that the outcome is more likely to happen. As a result, the potential profit is lower than your stake. At odds of 1/2, you’d have to bet £2 to profit £1. 

Decimal Betting Odds

Unlike fractional odds, decimal odds display just one number. The equivalent of 3/1 in the decimal format is 4.00. The decimal number refers to the amount you would win with a £1 bet. Whereas fractional odds only state the profit, decimal odds indicate the full amount that is returned, including your stake. So, with odds of 4.00 on a £1 bet, a winning bet would return £4 — your £1 stake plus £3 in profit.

Tips for Beginners

Before you conduct more detailed research into your chosen sports and markets, check out our top tips for beginners to help you get off the ground. We’ve outlined some key points to keep in mind when betting online to ensure you stay safe and bet responsibly.

Only Bet with Licensed Bookies

Here at Compare.bet, we only recommend online sportsbooks that are licensed by reputable regulators like the UK Gambling Commission. It’s vital you only ever place a bet with a licensed bookie, as this ensures you receive some protections from malpractice. 

Read our Reviews

Click through from our operator list to read in-depth reviews of the best sports betting sites on the market. We review bookmakers against a list of criteria, scrutinising everything from the variety of promotions to the range of payment methods on offer.

Research your Team/Event

Before placing a bet, it’s important to do some research. When you head to the betting page, you’ll see that the bookmaker provides some basic stats such as the league table and the team’s form guide. Be sure to go one further and look up each team’s history in the competition, which players are currently in form, and anything else that might help to inform your bet.

Start with a Sport Your Familiar With

While it pays to research your bets, it’s helpful to already be familiar with the sport you’re betting on. If you watch Premier League matches each week, we’d recommend starting off with a football bet. Of course, it’s always fun to learn about new sports by watching matches and having a flutter when you’re ready.

Set Your Own Limits

Having a predetermined betting budget is a wise move, whether it’s for a weekend of action or a longer period. You can set up deposit limits on your betting account, as well as reality checks, time-outs, and self exclusions. All this helps to manage your gambling activity and keep betting fun.

Check Out the Odds

With so many different online sportsbooks available to choose from here at Compare.bet, it’s well worth comparing betting odds across different sites. As well as looking at the prices of markets you’re interested in, keep an eye out for enhanced odds and payout boosts — these can add some serious value to your selections.

Use Free Bet Bonuses to Try Markets Out

Most online betting sites offer free bets as part of a welcome bonus to new customers. What’s more, you can often pick up free bets as an existing customer in the run up to big matches. Having a free bet token in your account offers a good opportunity to try out some new sports and markets you mightn’t usually look at.

Never Chase Losses

It’s vital you never chase your losses, which can exacerbate a bad situation. If you ever feel stressed by the prospect of placing a bet or by how much you’ve lost, stop immediately and seek guidance or support.

Betting Terminology

Betting terminology can seem complicated at times, particularly if you’re new to it. Here’s a list of the most common words and phrases you’re likely to encounter.

• Accumulator (Acca) – An acca is one bet that consists of four or more selections. For the bet to win, all of the selections must come good.
• Ante-post – In horse racing and greyhound racing, an ante-post bet is a bet that’s placed well in advance of the event. It gives punters an opportunity to secure better odds, although your bet will lose if your horse doesn’t end up taking part.
• BTTS – With both teams to score, your bet succeeds if both teams score during a football match, regardless of the result. There’s usually the option to place a BTTS bet on individual halves too.
• Double Bet – A double is like an accumulator but with just two selections. For example, you could bet on Chelsea and Aston Villa to both win on the opening day of the season — if either team drops points, your bet loses.
• Each-way Bet – Popular in horse racing, an each-way bet consists of two bets with equal stakes: one on your chosen horse to win the race, and another on the horse to place. To ‘place’ can refer to finishing in the top three, four or five, depending on the race and the bookmaker.
• Evens – Refers to even money odds, expressed as 1/1 or 2.00. If you bet £1 on evens, you’ll stand to win £1 profit.
• Handicap Race – In horse racing, a handicap race is a race in which horses carry different weights to even up the field. This means horses of different abilities can race against each other and have a similar chance of winning.
• In-Play Bets – If you’re betting in-play, you’re betting on an event while it’s still in progress. Also known as live betting, this gives you the chance to respond to what’s happening during a match and make predictions in real time.
• Multiple – A catch-all term for doubles, trebles, and accumulators.
• Parlay – Parlay is the American term for any bet that consists of two or more selections.
• Spread Betting – With spread betting, the bettor can win or lose a variable amount of money depending on the accuracy of the wager.