Betting101: What To Know Before Placing A Wager

CHARLOTTE, N.C. — The anticipation has been building long enough. Online sports betting launches Monday, March 11th in North Carolina.

It’s been something we’ve been we’ve been waiting on for a while. Didn’t think it was going to happen, so it’s. It’s here now. We’re ready for it,” explained Charlotte resident Kevin McCarthy.

You’ve seen the never ending commercials and passed by the billboards offering up promo codes. You may have even already downloaded the apps.

“I see way too much advertising for sports gambling,” said Charlotte resident Paul Mendoza.

Steve Bittenbender is an analyst with BetCarolina, designed to help navigate the betting waters before you dive in.

“I would start small and I would start with sports you’re familiar with,” explained Bittendbender.

With legal sports betting starting about a week before March Madness, it’s a safe bet to say most of the early wagers will be on college basketball.

“Don’t look to bet big right off the bat. If you’re depositing $100 into an account, you know, start off in, maybe bet 3 to $5 on a on a wager,” said Bittenbender.

Figuring out how much to bet, who to bet on, and what you’re actually betting can come with some early challenges. Just ask Paul Mendoza. He was living in Arizona when online sports betting became legal.

“There is a learning curve so that you can learn the odds, learn the probabilities, learn what the learn what the fractions mean,” explained Mendoza.

If you’re a rookie bettor, here’s some basic terminology:

Point Spread –  Number of points assigned to a game by a sportsbook to keep the final score as close as possible. A team that is favored must win by more than the point spread. An underdog must either lose by less than the point spread total, or win.

Moneyline – A straight up wager for one team to win. The more a team is favored, the lower the payout odds are.

Parlay – A single wager with multiple bets. The more games you bet on, the better the payout odds. However, if you lose one of the bets, you lose the entire wager.

Live Betting – The ability to bet on point spreads and moneylines while the game is in progress.

Futures – Betting on a team/player to win a championship/award later on.