If you’d like to bet online but you haven’t done so before and you’re not sure how the online sports betting world works, don’t worry, I’ve got you covered. Whether you’re interested in the Grand National horse racing competition, football betting on Premier league matches or you’d like to know more about the different betting markets, in this comprehensive review I will tell you all you need to know.
But before that: Check local arrangements
Let’s first deal with the legality of online sports betting. According to the gambling act 2005, players must be 18 years old at least to create an account with a sportsbook provider and all the websites licensed with the UK Gambling Commision are required to follow the KYC procedures. Actually, even if the betting site has an offshore license, they’re still legaly obligated to go though this process to prevent money from illegal activities being laudered through gambling. And to not allow users under 18, too. There’s one other purpose of this process and it’s to make sure only players from within certain regions are available to set up an accound, depending on the terms and regulators under which a given bookie is licensed.
First steps to placing a bet: Find a reputable online bookmaker, set up an account, make a deposit and claim your online betting offers
Placing your first bet requires you to complete some initial steps. After all, online you cannot just wager money like you would off-line. You have to pick a sportsbook provider, register with them and deposit some cash. And to keep things simple I would like to guide you through all those steps one by one.
Pick a bookmaker to place your bet with
Gambling websites within the UK, like Bet365, William Hill, etc., are required to have a license to provide their services. They are usually regulated by the UK Gambling Commission, although some betting platforms operate with a Curacao license. Always make sure you’re signing up with a reputable and legit bookmaker to keep your data and your finances safe. Check what they have to offer to see if they’re providing the sports, events and markets you’d like to bet on. And have a quick look at their promo collection to see if there’s something worth your time there (remember to pay attention to the terms and conditions of the offers, though).
Register at the online betting platform
To open a player’s account and be able to bet with the selected bookmaker you’ll have to go through the registration process. Different platforms are set up in a different mannet so the exact steps depend on the gambling site you’ve picked. But you would generally need to do the following:
- Provide some personal data such as name and address.
- Pick country of residence and currency (for international betting sites).
- Choose an username and a password.
- Enter your address and phone number.
- Write down a promo code, if you have one (that’s an optional part).
Also depending on the website you’re registering with, you might have to verify your email and/or your phone number right after signing up or even before being able to complete the process.
Verify your identity
Verification, also known as KYC (of Know Your Customer) is a procedure required by all online sportbook and casino websites. It’s used to confirm players identity due to the laws agains money laungering and underage gambling. This way they also promote responsible gambling because players under 18, from countries where the bookie doesn’t have a license and people who’ve self-exluded cannot register and bet.
Deposit money
To be able to place a sports bet, you’ll have to have some real cash available in your balance. In other words, you’ll need to make a deposit. Pick the payment method that suits you best, like Paypal, Neteller, Skrill, crypto, debit card, bank transfer, etc. Make a note of the minimum and maximum deposit limits and always know your budget (don’t use money you cannot afford to lose withouth financial troubles). Another thing to keep in mind is UK-licensed casinos are forbidden from accepting payments with credit cards.
See if you’re eligible for a free bets bonus before you place a bet online
Many online bookmakers give out welcome promotions for their new players. You can check them out and see if they’ll be a good match for you but accept them only if you understand their terms. One of the most important things to note are the wagering requirements. They show you how many times you have to roll the promo sum (and the deposited amount) over prior to being able to withdraw it.
For instance, if you deposit £10 and get a £10 bonus with rollover requirements of 7x, you’ll need to place bets amounting to the total sum of (10+10)x7 = £140.
Remember to read the fine print and see what minimum odds are accepted and are there any restricted markets (usually handicaps). See what’s the time limit to wager the bonus, too. Usually that varies from just 7 days up to 30 days. And keep in mind that e-wallet transactions are usually not eligible for welcome bonus features like freebets, cash promotions, etc.
A beginner’s guide to online betting: Types of betting options
Now, once you have the account set up, don’t rush into betting. First you’ll need to know what you’re actually doing. And this requires you to be familiar with the various types of bets. Because it’s not just one option we’re talking about here. There are plenty of them. So, let’s get started.
Single bets
This means you’re betting on only one outcome from a single event. Say you’d like to take your pick at the winner on Manchester City vs Arsenal. If you put your money on Arsenal as the winner, that’s a single bet.
Accumulator
This, on the other hand, is a betslip where you combine more selections. It’s a subtype of the multi-bet and one of it’s downfalls is that you need to guess right on all of your selections to win. The best thing about accumulators, though, is that the odds here are calculated in a different manner. Their total is the product of all the individual odds. For instance, if you bet on five outcomes and they have odds, respectively, 1.50, 2.00, 1.50, 3.00, 2.50, the total odds are 27. Thus, if you place just a £10 bet, you can get £270 should you win on all events.
Understanding odds
Odds at an online sportsbook are the number that shows you how likely the bookmaker considers a given outcome. The more likely something is to happen, the lesser the odds are and vice versa. Of course, this also directly corelates with your potential payout. Because the number you see is multiplied by the bet amount you’ve placed to calculate the total sum that you get if you’ve guessed right.
For instance, if there’s 2.00 odds for some event and you place a £20 bet on it, you could get £40. But that includes your stake. On the other hand, with fractional odds of the type 4/1, you can see your profit much more easily. Because the first number shows how much you win per each pound you’ve placed on your betslip.
It’s important to know all of this info prior to betting because odds are different with all online gambling providers. So, you can browse around to see who offers the best odds and you can find events where the bookie’s underestimated the chance for a given outcome. Something that’s known as a value bet. And, of course, when you know how odds work, you can see how much can you win (and estimate how likely that outcome is).
Step-by-step guide on how to place your first bet
Let’s go through a step-by-step guide on placing a bet after you’ve signed up at a reputable sportsbook provider, topped up your acount with some cash and gotten familiar with the main aspects of sports bets.
- Pick a sport you know a lot about. Don’t go betting on some random discplines you’ve never even heard of. The chances to guess the outcome of something you don’t understand are pretty slim.
- Pick an event and a market. Browse around to find the event/competition/match you’d like to bet on or enter it in the search bar if such is available. Open it (usually by clicking on it) and look at the markets. Examine the odds and decide if you want to bet on a given outcome. If so, click on the odds to select them.
- Pick an amount. After you’ve selected a market and an outcome, the betslip will open and you’ll be able to enter the amount you’d like to bet.
- Confirm the bet you want to place with the respective button (the exact wording depends on the website and its design).
Now you’ll get a receipt showing the bet you’ve placed with event, market, what outcome you’ve wagered on and how much money you’ve placed. Odds will be visible, too.
Withdraw your winnings
If you’ve accumulated some cash, you might want to withdraw it. This is, most always, available though the same payment options as for deposits. Remember, most of the time you’ll need to request your money through the same method you’ve used to top your account up. Keep in mind the minimum and maximum limits and don’t cash out if you have an active bonus if you’re not willing to lose it (is you request withdrawals with an active offer it’ll be deactivated).
How to place horse racing bets on the Grand National: Odds explained
Now let’s check everything you need to know before you place your horse racing bet. Sure enough, first you’d need an account with a bookie licensed by the UK Gambling Commision or an offshore regulator who accepts UK players. Then you need to browse the events available and see the odds. At this point you’re going to have to think about the type of bet you’d like to place:
- Win: You’re betting that a given horse will finish at first place.
- Place: When you pick this option, you’ll win if the horse finishes first or second.
- Show: Here the bet is successful even if the horse finishes third.
- Exacta, trifecta, superfecta: Those are special types of bets where you bet on the top two, three or four finishers.
Now, let’s consider the odds, too. When betting on horses, you’re likely going to see something like “1/10”, “4/5”, “5/1”, etc. The first number here is there return per a given amount of money (which is the second number). Now, I understand that’s not quite easy to understand the way I said it, so let me give you examples. With “1/10” odds you get £1 per every £10 you bet. With “4/5” odds you get £4 per every £5 you bet. And with “5/1”, you’ll receive a return of £5 per every pound wagered, provided, of course, that you’ve places a winning bet.
Responsible gambling: What to remember before you place your first online bet
All licensed gambling providers who operate within the UK are required to provide you with tools for playing responsibly. Don’t hesitate to take advantage of them even right from your first wager. Because you can easily set up limits and notifications for time spend on the website to keep your sessions and finances in check. Then there are also time-outs and self-exlusion periods which are a great options for players who’re having troubles with their wagering.
That’s not all, though. Here are a few other tips how to stay in control when you’re new to online betting:
- Only bet what you can afford and stick to a budget tailored to your financial situation.
- Don’t think of your betting experience as a way to make money because winning isn’t guaranteed in gambling no matter if you use strategies or not.
- Don’t chase losses and don’t forget to take a break.
- Don’t place bets online under the influence of alcohol and avoid gambling when you’re angry or sad.
Remember, a successful punter is the one who knows when to stop.
FAQs
What is a bet slip in sports betting?
The betslip is the ticked that shows what event you’ve wagerd on, what selection you’ve made, the odds of the chosen outcome as well as the stake and the potential payout.
What is in-play betting?
In-play, or live, betting means that you follow the event live (and so does the bookie) and see the odds change in real time. They do so based on what’s happening in the match. You can follow both the changing odds and live streaming when available.
What is Bet Builder?
Now that’s a new and useful features that more and more sportsbook providers are offering. You won’t find them for all sports and events but when you do, you can use them for your advantage. They are tools developed to help you structure multiple bets and keep track of their odds and potential payout.
What is a cash out function?
This is an option that allows you to settle the bet placed before the event’s ended. It’s available for some bets only and you can use it to secure your winnings if you’re not certain the final outcome of the match’s going to be in your favor.
What does it mean to gamble responsibly?
Being responsible while you gamble means staying within your budget and not allowing yourself to get carried away and risk losing more than you can afford.
How does mobile betting work?
It works in the same manner as on desktop, only with the use of betting apps or the mobile version of the bookie’s website. The design might be a little bit different but the main principles apply.
On what events can I use free bets?
Usually the free bets offers apply to all sports within a given sportsbook, including football, volleyball, tennis, etc. If there are any exceptions, they’ll be shown within the t&cs of the offer. Keep in mind that sports free bets aren’t always applicable to virtual or eSports.
