Starting in a new industry can often be daunting, especially if you’re dipping your toes into sports betting for the first time and many of your players will be feeling this way and often have to begin somewhere. That means many bettors will be taking to the internet to find out all they can on betting from terminology to the best events, sports and operating sites to begin their journey into sports betting.
For this reason, many operators could benefit from being the one-stop-shop for all new players who are looking for state-of-the-art technologies, top-tier content and explanations for player-asked questions that will often inform player behaviour and player experience to create safer forms of betting and player retention rates.
Having offered your bettors the best of everything, new players will feel at home on your betting site … though, what do new bettors want to know as they become familiar with the warm waters of sports betting?
Informing Players Of The Correct Terminology Is A Game Changer In Sports Betting
Many players will want some return for their buck, time and effort spent on your sports betting site, or any gambling operations, as this will often boost morale when losses are made.
Most operators will offer different features like zero margins or bet boosters to ensure that bettors feel listened to, appreciated and as though their time is valued by those running their favourite sports betting sites.
One of the best pieces of information for players is to learn the types of bets that can be placed on your operating site or are generally available throughout the sports betting and iGaming industry.
Favourites And Underdogs
These two terms are often self-explanatory, however, the terms refer to the team the oddsmakers expect to win (Favourites) and the team the oddsmakers believe will lose the game, match or event (Underdog).
Spreads
Spreads are the first of two ways that a bettor can bet on favourites and underdogs and is based on how a team will ‘cover’ … A favourite ‘gives’ points and an underdog ‘gets’ points.
Moneylines
The second way to place a bet is on the Moneyline and this bet is based solely on which team will win the game, match or event. More often than not Moneylines are available on all sports but are commonly used for betting on baseball, hockey and football (soccer).
Over/Unders (Totals)
Setting the total number of points scored in a game, from both teams, oddsmakers call this an over/under bet. Bettors are then able to wager on whether the outcome will be ‘over’ or ‘under’ the total set.
Futures Bet
This bet is a wager on a series, event or award whose outcome will finish or arrive in the future. Different to betting on a ‘spread’ or ‘total’ but holds its own in terms of popularity and common use. This type of bet can range from specific teams winning the Super Bowl before the season has begun to betting on a footballer-winning player of the year before the award is won. One thing to bear in mind: the odds on these futures bets can change due to injuries, trades and any range of in-season factors.
After a look at some of the key terms in sports betting your players, bettors and gamers have a better understanding of the iGaming segment they have chosen to explore and become a part of as it grows in entertainment value, popularity and revenue increases.
To discover more about sports betting, wagers, and sports entertainment in the iGaming industry, contact Altenar, the sportsbook software provider today and discover what its sports betting software can do for you and your players.
