The Comprehensive Guide to Online Sports Betting

By Gavin Harper Updated: June 2023

One of the most successful gambling sectors in the world is online sports betting. It has grown in prominence over the previous ten years with a wide range of sports betting being offered, and an even greater number of markets.

Sports betting is extremely popular in Australia, with Aussies loving to have a wager on some of the most watched sports. But, what important information should all potential bettors be aware of before making their first wager?

How Does Online Sports Betting Work?

Sports betting Australia is a famous pastime that has been around for generations, as it enables wagers to be placed on the outcome of sporting fixtures.

However, nowadays, the most popular way to place bets is on mobile devices, as it enables bettors to make their wagers while they are on the move. The aim of the bettor is simple, as they will look to correctly predict the outcome to ensure that they get good returns.

What Sports Do Australians Bet On?

Sports betting is extremely popular in Australia, which is little surprise given just how obsessed the nation is with different sports. One of the most popular sports available to Aussies online is Aussie Rules, with the leading sportsbooks offering a huge number of markets throughout the season on all fixtures that are played. As well as that, bets can also be placed on the outright winner of the Grand Final from the first week of the season.

There are few sports bet options as historic in Australia as horse racing, with huge races taking place throughout the year at courses across the country. The most popular betting event comes in the form of the Melbourne Cup, which is run in November. This race stops the nations and engages the novice bettors as well as those that watch the action throughout the season.

Rugby and cricket are two further sports that are extremely popular in Australia, while soccer is a sport that is popular for betting around the world.

What Are Some Sports Betting Tips For A Complete Beginner?

Making your first wager online can often be a daunting experience if you haven’t made a bet in the past. However, there are a number of important tips to follow to ensure that you have the most enjoyable experience. The first of which is that you should only bet what you are willing to lose, which means keeping an eye on how much you’re spending on a daily/weekly/monthly basis. Keeping tabs on your wins and losses will ensure that you have an enjoyable experience online when betting.

Signing up for a sportsbook is now a relatively pain-free experience. However, bettors should do their research before signing up to ensure that they are joining a site with a reputable reputation, and one that is trustworthy. It is a similar process to finding a legit online casino. Furthermore, you should examine the sports covered in the sportsbook to ensure that they cover the markets that you wish to bet on. Many sites will also provide sports betting tips on their site.

Finally, new customers should always examine the welcome offers that are available, as these will give the player an incentive to sign up, and these could come in the form of free bets or a matched deposit. Opening a sport betting account in Australia is straightforward, and you can easily start exploring the odds of sports betting available online.

What Are The Best Online Sports Betting Sites For Australians?

There is no shortage of exciting sports betting websites available for Australian players nowadays. Each of the sportsbooks offers something slightly different to the customer, whether that be a different welcome bonus or contrasting ongoing promotions.

legendplay sports

However, some of the best sportsbooks that we found in Australia also include an online casino. SvenBet, EvoBet and WallaceBet are just some of the latest additions to the market.

Other sites with solid reputations among sports bettors include LegendPlay, Bankonbet and Campeonbet. All sites will show sports betting results in Australia and have leading odds for sports betting in Australia.

How Do You Calculate Sports Betting Payouts?

When you’re placing your first bet, you may feel overwhelmed by the numbers that pop up on the screen. However, the odds make for very important reading, as these will determine the profit that you make from a winning selection. Sports betting odds in Australia can appear in three different formats; American, Decimal, and Fractional. Each will see bettors receive the same payout, but they show the price in a different way.

For example, 3.0 in fractional odds would be shown as 2/1, while in America it will be shown as +200. Decimal layouts take into consideration the stake, while American and fractional formats don’t. However, the payout at a $10 stake on all forms will return the same, as bettors will get $30 if their selection is correct.

Online Vs Offline Betting

Depending on the era that you grew up in, going to physical bookies was always the only way to place a wager. However, this has changed with the evolution of mobile betting over the past ten years. Nowadays, many bettors prefer to place their wagers on mobile devices, as they can explore a wide range of markets and easily add and withdraw their funds.

Due to the cashless society that we now live in, online betting has become the new norm, as no cash is exchanged. Still, there are many bettors that would prefer to go into a physical shop and make their bet, as the tradition among millions is still there.

Main Betting Types And Markets

The vast majority of the people betting markets available online are the same across the different sports available. Straight bets can be placed on a number of different markets, including match outcome/winner, over/under, and handicap. Meanwhile, bettors can also find a number of interesting sports-specific markets available. For example, soccer bettors can wager on the first goalscorer in a certain fixture, and also whether both teams will score.

Horse racing betting is potentially the most different, as a number of other options are available aside from betting on the winner of the race. Wagers can also be placed on a horse to place, while stakes can also be put on horses that will finish in the first two in the correct order. Ante-post betting is also extremely popular in horse racing, as bettors can make their selections months in advance of races to get the best value on their selections.