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How to Make an Online Sports Bet

by March 17, 2020
MLB Parlay Odds Picks

As more and more states across the country legalize sports betting, there are inevitably more sportsbooks popping up. What if you do not live close enough to drive there and make your bets? What if you do live close enough, but would not get there in time to make a bet on an upcoming game?

The good news is that there are plenty of mobile apps to place bets on from the comfort of your own home. All bets can be made in a matter of seconds at any time of the day.

Here is a step-by-step guide on how to make a wager from your mobile sportsbook account.

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Steps For Making a Sports Bet Online

1. Find the Right Site for You
FanDuel, DraftKings, FOX Bet, BetMGM, PointsBet, and many more. How do you know which sportsbook to choose? Before diving into the first one that you come across, have a quick gander at each website. You can get a feel rather quickly for which sites are easier to navigate than others. For beginning sports bettors, it’s always helpful to use sites that explain the rules of each bet.

Do not be afraid to ask others who have experience betting on sports for their feedback. Some may tell you things like it’s a hassle to register at certain sites or that their cash out methods are inconvenient. The more information you gather ahead of time, the better your sports betting experience will be.

2. Create an Account
Once you’ve landed on a site that you are comfortable with, it is time to download their app and create an account. For first-time bettors, I would suggest starting out charting bets you like without risking your own money. Almost all sportsbooks give you access to their odds without having to create an account. Once you get a sense of how money lines and totals work, and you’re ready to put money at risk, then you can use your app to create your actual account.

The steps involved in creating accounts may differ from site-to-site. Most online sportsbooks require the following: Name, Address, Password, Mobile Phone Number, Email Address (typically becomes your username), and Date of Birth. Once all your demographic information has been submitted, your account is made.

3. Make a Deposit
When making a deposit, sportsbooks may include many of the following options: Credit or Debit Card, Play+, Prepaid Card (specific to the site), PayPal, ACH (eCheck), Online Bank Transfer, Wire Transfer, PayNearMe, or a check.

Certain methods, like ACH, credit or debit, and bank transfers, can deposit your money quickly, but it can sometimes take hours or days for any winnings you withdraw to show up in your bank account. Play+ is a payment option offered by many popular sportsbooks that lets you fund your wagering account, withdraw your winnings quickly, and access your money everywhere Discover(R) or Mastercard(R) is accepted and at ATMs nationwide.

Upon first creating an account, many sportsbooks offer generous promotions in the form of “risk-free bets” or bonuses equal to a percentage of your initial deposit. It would be wise to take advantage of any and all promotions offered throughout your sports betting experience. When a sportsbook hands out free money, take it!

4. Familiarize Yourself with Betting Rules
If you did not get acclimated to the rules of the various types of bets before making your account, now is the time to do so. Never assume you know the rules of a bet before placing a wager. It’s always better to double-check the guidelines instead of being caught off-guard by something after your money is at risk.

You can check out our betting 101 section for more advice!

5. Set a Budget
One of the biggest mistakes that novice sports bettors make is not setting or sticking to a budget. The most important rule of any form of gambling is this: Do not risk what you cannot afford to lose.

Typically, it’s wise to stick to more-or-less the same betting amount with each wager. Another reason bettors get themselves into trouble is they identify a “can’t miss” bet. Thus, they are likely to bet an exorbitant amount of money on such a line relative to their usual bets. If that bet does not cash, they find themselves stuck in an awkward situation.

Remember, even the most successful handicappers are correct merely 55-60 percent of the time.

6. Place Your Bets
After scouring through the lines and identifying what appeals most, it’s time to place your bet. When you click on the line you want, you will be taken to another screen that will ask you if you want to place the bet as a straight wager, or as part of a parlay or teaser. If this is the only bet you want to make, you would select “straight wager” and enter the amount you want to risk.

Once you enter your amount, you will be notified of what the payout for a winning bet would be. If you are satisfied, hit “OK” or “confirm bet” and leave the rest up to the gambling gods. Good luck!

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Mike Spector is a featured writer at BettingPros. For more from Mike, check out his archive and follow him @MikeSpector01.

Betting 101, Betting Tips, How-To