Ultimate Guide to Sports Betting for Beginners

Feeling lucky?

Sports betting has taken over the US.

Even casual sports fans — those who had never even placed a bet 10 years ago — are wagering big amounts of money across major sports leagues.

✔ 30% of Americans have bet on sports over the past year (Statista)

✔ The US sports betting industry pulled $13.7 billion revenue in ‘24 (ESPN)

✔ More bets are placed on the NFL than any other league (American Gaming Association)

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The crazy part about all this is that there are now 61 different sports betting apps and sites to choose from. It’s an insane number but makes perfect sense. After all, the market is booming with people who want to bet.

So, if you’ve got the itch to give sports betting a try yourself, you’re not alone.

This guide is going to breakdown everything for you, including how to bet on US sports, the best apps to use, and more.

Recommended US Sports Betting Apps

The US is stacked with sports betting apps at the moment. Ever since 2018, tons of them have hit the internet. Caesars Sportsbook comes highly recommended for beginners, while DraftKings, FanDuel, BetMGM, and bet365 are also valid choices. They cover all the major sports leagues, offer competitive odds, and even come with perks like loyalty programs and free bets, so there’s a lot to enjoy.

How Sports Betting Works

Sports betting is easier than you think. You choose a team, player, or outcome to bet on. If your bet wins, you then receive money based on what the odds were.

On most US betting sites, American odds are used. These are displayed with a (+) or (-). Whenever a (+) sign is next to a team, it means that team is the underdog. And if it’s a (-) symbol, that team is the favourite.

💰 ➜ The underdog’s odds reflect the amount of money you’d win if you bet $100. For example, if the Denver Broncos have (+200) odds, you’d make a $200 profit based on a $100 bet.

💰 ➜ With the favourite’s odds, it’s slightly different. These odds reflect the amount of money you need to bet in order to win $100. Because they’re one of the best NFL teams, the Kansas City Chiefs usually have odds of at least (-150). So in this instance, you’d need to hypothetically stake $150 on them in order to make a $100 profit.

Make sense? Great.

Of course, you can bet as little as $1 if you want, as the above-mentioned examples are just showing you how the odds work on a scale.

After signing up with a sportsbook (which we’ll discuss a little later) it’s down to you how much money you bet. If you want to bet low, you can. And if you have the budget, you can start placing bigger bets, too. What matters most at the beginning, though, is that you have a clear understanding of how the odds actually work.

The Most Common Types of Bets: Moneylines and Parlays

When you navigate a sports betting app for the first time, you’ll see that there are countless different bets you can place. Sometimes, it can even be a little overwhelming. As a beginner, though, you don’t need to worry about all that, as we’re just going to focus on moneylines and parlays for now. These are the two most common types of bets across all US sports.

What is a Moneyline Bet?

This is a really easy one. All you’re doing is betting on which team (or player) you think is going to win a game. Yep, it’s that straightforward. On your side, simply choose who you want to go with, select an amount of money, and place the bet.

🏈 ➜ Let’s rewind to the 2025 Super Bowl LIX from earlier this year. Heading into the game, almost everyone thought the Kansas City Chiefs were going to beat the Philadelphia Eagles. After all, the Chiefs were chasing a legendary three-peat and all the momentum was with them. However, the Eagles stomped all over the two-time defending champions to win 40-22. And according to Fox Sports, somebody decided to place a moneyline bet of $225,000 on the Eagles at -105 odds, allowing them to pocket a total profit of $214,286.

If you’re a total newbie or someone who has only bet on sports a handful of times in the past, we highly recommend sticking with moneyline bets, at least to start with. This is because they're the simplest type of bet that anyone can place. Very little thinking is required and all you need to do is pick a team to bet on and win — it doesn’t get much easier than that.

What is a Parlay?

Ever since the US legalized online sports betting back in 2018, parlays have completely exploded. They’re the fan-favorite type of bet and make game days that extra bit more exciting, allowing fans to combine multiplier wagers into one single bet. The benefit is that (if all your bets win) you get a much bigger payout. However, the obvious trade-off is that the odds go higher and you’re less likely to win than usual.

🏀 ➜ Imagine you’re watching the NBA and want to build a parlay. You might choose the following teams to win their respective games: Boston Celtics (-150), New York Knicks (+200), and Denver Nuggets (+250). Combine all these odds together and you get combined final odds of +1653, meaning a $10 parlay here would return a $165.30 profit. Remember, though, that all three of your teams would have to win for your parlay to be a success. Even if just one team loses, the entire parlay automatically fails.

When you make your own parlays, it’s generally recommended you keep it simple (2-4 selections at most) and go with favourite teams over underdogs. Sure, you won’t win as much money back, but your parlays will stand a greater chance of actually coming through, which is what matters more than anything.

Popular US Sports to Bet On

In terms of popularity, the biggest US sports to bet on are:

🏈 Football (NFL)

🏀 Basketball (NBA)

⚾️ Baseball (MLB)

🏈 College Football (NCAA)

🏒 Hockey (NHL)

According to the American Gaming Association, it was even estimated that around $35 billion was bet on the 2024 NFL season, which ended with the Eagles beating the Chiefs at Super Bowl LIX. Make no doubt about it, the NFL is by far the most popular, but the likes of the NBA and MLB aren’t far behind it. And let’s not forget, you also have other options like the MLS, with Lionel Messi’s arrival in America a couple of years driving more engagement with soccer than ever before. In a nutshell, if there’s a sports league you like in the US, most sportsbooks will offer you odds on it.

The Rise of “Bonus Bets” and “Promos” — And Why US Bettors Are Hooked on Them

After the federal ban on sports betting was lifted way back in 2018, sports betting skyrocketed in the US. In response to this, leading sites — such as BetMGM and FanDuel — took advantage by tapping into a genius marketing strategy: bonus bets and special promos.

Every sports betting app today has some type of bonus bet offer. Usually, this will involve you placing a bet and receiving a bonus bet in return for free. Yep, free. However, this depends entirely on the promotion you’re using.

🤝 🤝 ➜ BETMGM gives you the chance to receive $1,500 in Bonus Bets if your first bet doesn’t win

🤝 ➜ FanDuel lets new users make a first bet of $5 or more and receive $200 in return if that bet wins

🤝 ➜ Similarly, DraftKings also offers $200 in Bonus Bets if your first bet of $5 or more loses

The reason “bonus bets” and “free bets” are given out so much is because sportsbooks know they’re the best way to get more people engaged. In a way, both parties win. The sportsbooks get more users and the bettors themselves receive extra money to wager on their favourite sports. It’s a fair trade-off.

How Do You Cash-Out Winnings?

Most new sports bettors want to know how you cash-out winnings. Well, the way it works is that online sportsbooks usually let you withdraw funds via the same method you used to deposit — let’s say bank transfer, debit card, or PayPal — so it’s simply a case of choosing how much you want to take out. For instance, if you’ve stacked $1,000 worth of winnings in your account, you might want to withdraw $700. Just keep in mind that the majority of sportsbooks do have a minimum withdrawal amount, usually set around $1 to $5.

Why Do Americans Bet on Sports?

Americans are betting on sports in seriously big numbers. The increase post-COVID-19 has been unbelievable, with half of men aged 18-49 confirming they have at least one sports betting account. It’s not just a trend, either, as people are betting because they genuinely want to. A TaxAct® survey recently revealed that some of the most popular reasons for betting on Americans sports are:

✔ The thrill of placing bets

✔ Games become more exciting

✔ Making social connections

✔ The element of competition

Clearly, money isn’t the big deal here. Sure, users obviously enjoy it when some of their bets hit, but it seems as though most Americans are actually betting on their favourite sports for other reasons, such as making the games they watch more exciting. It makes sense, too, because if you’re watching a boring NFL or NBA with no investment in either team, that game will suddenly become more exciting if you’ve put a wager on it.

Summary

There’s good news. You’re now officially up-to-scratch and ready to start betting on sports. As a beginner sports bettor, it’s highly advised you start with simple moneylines or 2 to 4-leg parlays so that you can keep everything as simple as possible. Also, remember to take advantage of any bonus bets or special promotions that your chosen sportsbook might currently have. More promotions will appear throughout the year, too, so keep checking back for them.

I (AKA CatBurg) have a lifelong passion for sports, especially football and basketball. I enjoy the thrill and excitement of sports betting and everything in between. My teams are (Packers #GoPackGo) and who I am betting on!