Sports Betting FAQ

If you've got questions relating to sports betting, we've got you covered. On this page, we've drawn up a long list of questions that we frequently hear about betting on sports. The questions below are broken out into sections dedicated to general and online specific sports betting. Our goal with this page is to help you improve your sports betting knowledge. Just click on the questions below to jump to the answers.

General Sports Betting Answers

Is it possible to make money by betting on sports?

Yes, it is possible for you to make money betting on sports. However, we must be clear that it is no walk in the park to become profitable while betting on sports. Even the best professional sports bettors still lose wagers regularly. What's important is for you to develop your sports betting and bankroll strategy so that you give yourself the best chance to make money over the long haul of your sports betting career.

How can I get started betting on sports?

If you're brand new to betting on sports, it can be very tough to know exactly how you can get started. Luckily, we're here to help you. We've developed a guide just for you that's all about how you can get started with sports betting today. We'll walk you through everything that you need to know and help you get things ramped up quickly. Click the link below to visit our beginner's guide to sports betting page.

Beginning Sports Betting
How can I sharpen my sports betting skills?

No matter if you're brand new to sports betting or a seasoned veteran, there's always room for improvement when it comes to your sports betting skills. The answer to this question will depend on how advanced you are at this point. Since there isn't a one-size-fits-all answer to this question, we've included a few links below to different pages that we've developed to help sports bettors like you improve their betting skills.

Recommended Reading

Just click on the one below that makes the most sense for you, and you'll be on your way to improving your sports betting strategies.

How much money should I bet?

One of the most commonly asked questions by folks new to sports betting is how much money they should risk when placing a sports bet. In short, there is no blanket answer to this question. The amount of money that you should risk may vary from another person making the same bet based upon many different factors.

The most critical thing that you should do is establish a bankroll management plan. With this, you'll devise a structured program that will help you determine how much you should wager at any given time. Without this, you'll likely blow through your bankroll quickly and leave yourself without any betting funds. Click on the link below to view our page dedicated to bankroll management to see how you can establish a plan for yourself today.

Bankroll Management
What's the best sport to wager on?

There's no single answer here that will apply to every individual reading this question. Often, the best sport to start betting on is the one that you know the most about. If you don't understand how a sport works, it can be challenging to decide which bet you should place. As you look to expand the number of sports you bet on, you can increase your knowledge of other ones by watching them and doing research on the internet. You can use the link below to view our guide on choosing which sports to bet on to learn more about how you can see which ones may be right for you.

Choosing Your Sport
How do I choose my selections?

Unfortunately, there isn't a simple answer to this question. If it were that easy, sportsbooks would be out of business. One of our best tips for you is to bet on the sports that you know the most about and choose what you think the most likely outcome is. If you'd like to go deeper into how you can make your selections in the best method, then you don't want to miss the information provided on the page linked below. Here, we'll walk you through different things that you can utilize when you're deciding on which selection you should make.

Picking Selections
What types of bets can I place?

With sports betting, there are tons of different types of bets that you can place. In fact, it's too many for us to cover them all here. However, we have developed a page that's packed with information on all of the different types of sports bets out there. To view this page, use the link below, and you'll be on your way to learning more about all of your bet type options.

Types of Bets
How do I discern betting odds?

If you're newer to sports betting, then you're probably very confused about how to discern what the odds of a particular bet mean to you. We've been there before, and we know that it can be quite confusing. Because of that, we've developed a guide explaining all of the different types of sports betting odds. Using this guide, you'll learn everything you need to know about how to interpret the odds of any bet that you are considering.

Odds Explained
Should I ever pay for sports betting tips?

Many folks are attracted to the idea of paying for sports betting tips for one of two reasons. First, they may be looking to get a leg up using information from an expert source that knows more than they do. Secondly, people often turn to tip services to help them since they don't have a ton of time to do sports betting-related research due to a hectic life schedule between work and family.

In most cases, you probably should not pay for tips. The reason for this is because there are many scammers out there giving out sports betting "tips" without offering any worthwhile advice. In many cases, some of these services are providing tips and insight that's publically available for free if you did a small amount of research on your own. While these services claim that they have experts on staff, that's unfortunately not the case too often.

However, there are some excellent tip services out there. The hard part is identifying which ones those are to make sure that you're not getting scammed. Also, make sure to factor in what you'd be paying to the tip service as part of your bankroll. If you pay for tips, you'll have less money to wager on your sports bets. Ultimately, the call is yours if you decide to pay for tips or not. Just be sure that you go into it cautiously and do homework before paying anyone for sports betting tips.

Do I need to be a sports expert to bet on sports?

No. Anyone can bet on sports regardless of their sports knowledge. However, the more understanding that you have relating to the sports you're betting on, the easier it will be for you to discern what bets might be best for you to make at any given point. Don't let your lack of sports betting knowledge deter you from trying out sports betting.

What is fantasy sports betting?

Things are very different between traditional sports betting and fantasy sports betting. With fantasy sports betting, you'll be picking a fantasy team of players for a particular sport. Instead of betting on the outcome of sporting events and dealing with odds, you're instead choosing and playing for an entire season of the sport.

Fantasy sports is another favorite way for people to bet on sports. Often, you'll pay some form of an entry fee to enter your team into the competition. As the season progresses, you'll earn points if your fantasy team of players performs well. If you end up having one of the best teams in your fantasy league, you can potentially win cash and prizes depending on the structure of your league.

What does vigorish mean?

Also known as vig or juice, vigorish is essentially the commission that bookmakers charge on any wager you place. What's nice is that the vig is factored into your bet so that you're not paying an additional fee. It's this commission that bookmakers use to help make profits. To learn more about vigorish and how sportsbooks earn a profit, be sure to check out the link below.

How Bookmakers Make Money Explained

Online Sports Betting Answers

Is it safe to do sports betting online?

Betting online can be a very safe thing as long as you end up using a trusted online sportsbook. The good news is that the majority of sports betting websites out there are trustworthy places that you can bet at with confidence. Unfortunately, there are some operations out there that you'll want to ensure you avoid at all costs.

If you're brand new to betting online, we've included two resources below that you can use to help you while you search for your online sports betting home. The first link is to a page that showcases some of our top picks for the absolute best online sportsbooks in the industry. Each of these websites is a very reliable operation that provides some of the best online betting options in the industry. The second link below showcases our blacklisted sites page. Here, we've compiled the list of websites that don't meet our standards. You'll want to make sure that you avoid these websites.

Recommended Reading

Here are two articles that you can read right now if you want to know more about what you should look for in a sports betting site.

What are the advantages of betting online?

While there are many advantages of betting online, we have two main ones that we really love. Those two reasons are selection and convenience. We'll explain below how these two advantages give betting online a leg up over traditional brick-and-mortar sportsbook betting.

Up first, the selection of sports that you can bet on and bets that you can place is traditionally much broader online than what you'll find at a typical brick-and-mortar casino. Even if you're not currently betting on many different sports, you'll be able to easily grow into this in the future if you're betting online. Live betting is also extremely common with online sportsbooks, which allows you to bet during a sporting event as it plays outs.

The other main reason that we like to bet online is the convenience that it provides. Instead of having to get into your car to drive to your closest brick-and-mortar sportsbook, you're able to bet from your phone, laptop, or tablet in a matter of moments. With life being so busy for most individuals, online sportsbooks allow you to get all of your sports betting done much faster than ever before. If you've never tried betting online, check it out and see for yourself just how fast and convenient it is.

If you'd like to see more detail about the advantages of betting online, then be sure to check out the link below. Here, you'll be able to see our page dedicated to the benefits of gambling online. On this page, we'll provide more in-depth explanations about all of the reasons that we think betting online has an advantage over betting in your local brick-and-mortar sportsbook.

Advantages of Betting Online

The answer to this question depends on where you live. Many folks around the world can bet online legally, while some others can't. Then, there are some countries with murky laws relating to gambling legislation that leave folks unsure about what is or isn't legal. Luckily, we've done loads of research and assembled a page dedicated to gambling laws around the globe. If you want to see what rules apply to your location, click the link below.

Gambling Laws
How do I get started betting on sports for real money?

If you're ready to dive in now and start betting online with real money, the good news is that it's a relatively straightforward process. In many cases, you can set up an account, fund it, and begin placing wagers within as little as five or ten minutes. To get the ball rolling, be sure to check out the link below to our page about how to get started betting online for real money.

Getting Started
How do I choose the online sportsbook that's best for me?

The answer to this question depends on what's important to you. Are you looking for a massive lineup of sports that you can bet on, or are you more interested in earning an enormous amount of bonus? The site that's best for you will need to factor in all of the things that matter to you. To learn about all of the factors you should consider, click the link below, and you'll head to our page dedicated to helping you select the best sports betting site for you and your betting needs.

Choosing a Site
Is there a cap on how many online sportsbooks I can use?

Luckily, there isn't a cap on how many sports betting websites that you can utilize. You're free to use as many or as little as you'd like based on your preferences. There's no rule out there limiting you to using only one if you'd prefer to use multiple online sportsbooks.

Should I use multiple sports betting websites?

This answer will depend on your betting strategy. Many folks on staff here as well as tons of professional sports bettors use more than one online sportsbook. The main reason for this is that it allows people to shop their betting lines, which ensures they are getting the best line on the wager. In turn, this will yield them a higher profit if they pick the bet correctly.

If you're unsure if this is a strategy that you should use, then don't miss out on the link below. On this page, we'll go into detail about all of the reasons you might want to use more than one betting site. Along with that, we'll also tell you how to go about doing it if you think that it's the right choice for your betting plan.

Using Multiple Sites
How can I deposit funds?

One of the beautiful things about betting online is that you'll have several different banking methods that you can choose from when you'd like to make an account deposit. Unlike traditional brick-and-mortar sportsbooks that typically only allow you to fund with cash, online sportsbooks bring you loads of options. Usually, you'll find a selection that includes options like PayPal, Visa, Bitcoin, and Skrill.

Keep in mind that deposit methods vary between different sports betting websites. Because of this, you'll want to locate one that provides you with a banking method that works for your banking needs. Unless you've got a very rare banking method need, you shouldn't find it an issue to fund your betting account.

How long will it take for my deposit to be available?

The amount of time that it takes for your deposit to clear and become available as betting funds will vary depending on the site you're using and the banking method that you select for the deposit. In general, deposits can take anywhere from a matter of moments to a week or more.

The fast methods for deposit are what we consider to be instant options. Samples of these are cryptocurrency options like Bitcoin and Ethereum or e-wallets like Neteller and Skrill. In most cases, these options will be available very quickly after you make your deposit.

On the opposite end of the spectrum are slow deposit options that can take a while to clear. One of the slowest methods out there is using a cashier's check. Here, you'll need to mail an official check to the sportsbook. Then, you'll have to wait for the check to clear before your betting funds are made available. Unless you absolutely have to, we'd suggest avoiding this deposit method since it takes so long to clear.

How can I withdraw funds?

As with the deposit banking methods, most online casinos also offer a variety of ways for you to withdraw your funds. Often, you'll find options such as a check, wire transfer, or Bitcoin. Withdrawal options also are different from site to site. Therefore, when looking for an online sports betting home, make sure to find one that gives you a withdrawal method that works for you so that you can quickly remove your funds when you're ready.

What is live sports betting?

With traditional sports betting, you place your wagers before the sporting event begins. Where live betting differs is that it allows you to bet while the sporting event is underway. What's fantastic about live betting is that you can place all kinds of different wagers while the action happens.

For many of us on staff here, live betting helps us enjoy our favorite sporting events even more. Instead of placing bets and just waiting for the game to happen, we place bets as the game happens depending on what's occurring in the match. If you've yet to try live sports betting, check it out and see if it's a good fit for your betting strategy. We've included a link below where you can learn more about live betting and see our top recommended sites for placing this type of wager.

Live Betting Sites
What is exchange sports betting?

With exchange sports betting, you virtually eliminate the middleman. In this type of betting, you're able to bet directly against someone else without the use of a sportsbook. It's essentially a peer-to-peer betting setup. If you'd like to learn more about this topic, be sure to check out the link below.

Exchange Betting Sites
Why do online sportsbooks offer such lucrative bonuses and rewards compared to standard brick-and-mortar sportsbooks?

If you're like the vast majority of the population, you don't have very many brick-and-mortar sportsbooks near your home. Only the folks that live in places like Atlantic City and Las Vegas have a ton of options at their fingertips. For the rest of us, we might have one if we're lucky. Since the supply of brick-and-mortar sportsbooks is so low, there isn't really a need for them to try and draw you in since they're usually your only local betting option.

However, things are very different in the online sportsbook space. With online betting websites, there are tons of operations out there that would love to have you as their client. Since you can choose any of them, these online sportsbooks put together sweet welcome bonuses and other offers to sway you to come bet at their place as opposed to another one.

If you're looking for a sports betting website, be sure to consider bonuses as you shop around. In many cases, these bonuses can yield up to thousands of dollars in bonus funds while you do your betting online. The massive rewards available from online sportsbooks are one of our top reasons why we like to do our sports betting online.

Why do odds vary between different sports betting websites?

No matter if a sportsbook is an online or brick-and-mortar operation, they are free to set their odds at whatever they deem is best. Often, odds will be set by a bookmaker depending on what they think the outcome of the match is likely to be and how much money they have on the line for any side of the bet. Things vary online between sportsbooks as these two factors may differ from one sports betting website to another.

Although odds do differ between betting operations, the difference is usually minimal. It is rare to find a massive variance in lines for the same bet. Because of these small differences between online sportsbooks, it can be worth shopping your lines by using more than one online sportsbook. If you employ this strategy, you'll be sure that you're getting the highest profit possible when you correctly pick your bets.

What's the smallest-sized bet that I can place online?

While we wish that we could provide you with a simple answer here, we, unfortunately, cannot. No single answer will cover the smallest bet size possible, as things are different between different sports betting websites. What we can tell you is that most online sportsbooks that we've come across have a very small betting minimum.

The lowest amount that you can bet will depend on the website you're using, the sport you're betting on, the type of bet you're placing, and your status with the online sportsbook of your choice. In short, many factors contribute to the smallest amount you can bet. If you're considering a sports betting website, you can their support team to have them help you determine the lowest amount that you can wager on a single bet.

What's the largest bet that I can make online?

Similar to the smallest bet question just above, there's also no one-size-fits-all answer here, either. Bet caps vary from site to site and will depend on many different factors. As you're shopping for an online sportsbook home, you can reach out to the customer service teams to see what betting caps they would be willing to offer you based on your betting scenarios.


Hopefully, you've found this collection of frequently asked questions beneficial to your sports betting knowledge. We're here to be your full resource for all things related to gambling. If this is your first time on our site, be sure to check around and see all of the valuable resources and guides that we have to offer. Thanks for stopping by, and good luck in all of your future sports betting!
Copyright © 2019 Panoramacity. All Right Reserved.