Online gambling is a fun hobby enjoyed by millions of people around the world. However, if you’re unfamiliar with gambling, getting started can seem like a daunting prospect. To make your introduction to online gambling as pain-free as possible, we’ve created this beginner’s guide to understanding gambling. We’ll be covering the different types of it people enjoy, and how to gamble online.
What is Online Gambling?
It is the act of betting money on an uncertain outcome through the internet. Typically, it is done at online casinos offering games or at bookmakers offering odds on sporting events.
Types of Online Gambling
There are two primary types of online gambling people can choose: casino gaming and sports betting. Sports betting is placing stakes on the outcome of a particular occurrence in a sporting event, such as the winner of the game, the first goalscorer, or the number of goals. The other type is casino gaming. Both options offer a fun and exciting way to gamble online.
Why You Should Choose Sports Betting
Players can use their knowledge of their favourite sports to bet on the outcome of certain events. Bookmakers set the odds and accept all bets, so they’re betting against players to make a profit. They have experts like traders and risk analysts who calculate the odds based on the likelihood of each outcome. The more popular the sport, the more the betting odds can change. For example, football is very popular, and a lot of money is bet on it, causing the odds to fluctuate based on where people are placing their bets.
While the bookmakers are tough, it’s technically possible to beat sports betting in the long run if you’re a sharp enough bettor. For example, if you notice that a soccer team scores in the first half of 75% of the games they play, but the odds of them scoring in the first half are 1.5, you’ve found a profitable bet. In reality, finding profitable bets isn’t as easy as this, but it is possible if you have the knowledge.
Appeals of sports betting
- Adds enjoyment to watching sports
- Hundreds of odds available on popular markets
- Ability to use knowledge to potentially win money
When you place a bet, it’s helpful to calculate your potential winnings to understand how odds work. Here’s a simple example:
If you bet $10 on 4/1 odds and win, you calculate your winnings like this:
- 4/1 means you win $4 for every $1 you bet
- $10 at 4/1 gives you $40 (4 times $10)
- you get your $10 stake back, totalling $50
Tips to Help You Get the Most Out of Betting Odds
- Do your research: Look into sports statistics and follow betting tips. This can help you make more informed bets and increase your chances of winning.
- Find value bets: Look for bets that offer good value, especially in competitive markets. To find value, convert odds into a probability. For example, 3/1 odds can be converted to 1/4 (or 25%). Consider factors like a team’s form to determine if a bet is worth it.
- Practice makes perfect: The more bets you place, the better you’ll understand the odds and potential returns. Get familiar with how it all works.
Why You Should Choose Online Casino Games
Online casino games are incredibly fun to play, and many of them, such as blackjack, roulette, and baccarat, have a low house edge. So while the casino will win in the long run, that short-term variance can allow you to walk away a winner. For example, it’s common for players to go on hot streaks while playing roulette and blackjack, winning multiple hands in a row to book a win in a short session.
Appeals of casino gaming
- Varieties of fun and engaging games
- Low house edge allows for extended play with correct bankroll management
- The possibility of winning money in the short term
Tips to Help You Get the Most Out of Casino Games
- Look for a low house edge: Games with a low house edge give you better odds. It’s crucial for maximising your chances.
- Play for free before playing for money: This allows you to understand the rules and mechanics of the game without any financial risk.
- Use basic strategies at first: Simple strategies for a beginner work the best.
Both sports betting and online casino games offer fun and excitement. Each option has its own appeal, so it really comes down to personal preference.
How to Gamble Online: Top Tips
To help you with your first foray into gambling, our experts have selected and provided their top prompts.
- Set a bankroll: Set aside a specific amount of money that you can afford to gamble with as your “gambling bankroll.” This allows you to enjoy playing casino games without having to worry about the financial impact of winning or losing. We recommend only betting a small portion of your bankroll each time.
- Claim bonuses and promotions: This can provide you with a significant boost to your bankroll, allowing you to gamble for longer. The bonuses may also give you an incentive to try new games, allowing you to potentially find a new favourite.
- Choose high RTP games: Games with a high RTP rate (Return to Player) have a lower house edge and pay out more frequently. For slot games, you want to pick slots that have an RTP rate of 96% or above. Alternatively, you can play table games such as roulette and baccarat that have a low house edge. It means that short-term variance has more of an impact, allowing you to potentially win over short sessions.
- Play at recommended casinos: Choose the sites recommended by our team of experts that are licensed and regulated by a respected gambling authority. Licensed casinos ensure their games are fair by using an RNG (random number generator) and offer increased levels of player safety and data security.
- Regulate your emotions: Gambling while upset, tired, or frustrated is never recommended, as your heightened emotional state will lead to poor decision-making. Playing online casino games should be a fun pastime, so if you don’t feel like you’re having fun, stop playing and come back at a later date.
Responsible Gambling
When gambling for real money online, it’s important to do so responsibly. Never gamble with money that you can’t afford to lose, and never gamble while emotional or upset. Gambling should be a fun hobby, so if gambling is no longer fun, stop playing immediately.
Regulated casinos offer responsible gambling tools that allow players to control their gambling habits.
- Deposit limits restrict the amount you can add to your account.
- Wagering limits set the amount you can bet.
- Time-outs that allow you to take short breaks from gambling.
Many sites even offer the option to self-exclude, preventing you from accessing your account for a significant amount of time.
Responsible gambling organisations, such as Gamblers Anonymous and GamStop help players manage gambling addiction. Find more contacts below.
| Responsible Gambling Council | https://www.responsiblegambling.org/for-the-public/problem-gambling-help/ | +1 (416) 499-9800 |
| National Council on Problem Gambling | https://www.ncpgambling.org/ | 1-800-GAMBLER |
| Canada Safety Council | https://canadasafetycouncil.org/gambling-addiction/ | 613-739-1535 |
Conclusion
There are many different kinds of online gambling to enjoy, with dozens of unique casino games to try. After following our expert guidance, you should have no trouble finding a casino game that’s right for you. Before you start playing, check out our expert casino reviews to learn more about the best online casinos in your area.
