How to Bet on Sports: Register, Deposit, Bet and Withdraw

This guide explains, step by step, how to register with a bookmaker, make a deposit, bet on a match, withdraw your winnings and submit your identity documents.

It also covers a few ways to get more enjoyment out of sports betting.

What You Will Learn

• Getting started with a bookmaker follows four steps: register, deposit, bet and withdraw.
• You need three things to begin: a smartphone, a payment method and identity documents.

This article takes about 9 minutes to read.

What You Need to Get Started with a Bookmaker

To get started with a bookmaker, you need the following three things.

• A smartphone, PC or tablet
• A payment method for deposits and withdrawals
• Documents for identity verification

First, you need a device with internet access, since bookmakers operate online. If you are reading this page on your own smartphone or PC, you already have what you need.

A payment method for deposits and withdrawals is any way of moving money into and out of your account, such as a credit card, bank transfer, e-wallet or cryptocurrency. Fees and processing times vary by method.

Finally, many bookmakers verify your identity before your first withdrawal, so you should have the documents ready. Some bookmakers do not require verification, but if you plan to use a bookmaker over the long term, preparing all three before you move on to the next step will make the process smoother.

Register with a Bookmaker

To bet on sports, you first need to open an account with a bookmaker.

Signing up is much the same as creating an account on an online shopping site, and if you have done that before, it takes only a few minutes. The registration steps are as follows.

1. Go to the bookmaker’s website
2. Enter the required information, such as your email address, home address, full name and phone number
3. Click the confirmation link sent to the email address you entered

Make a Deposit

Once your registration is complete, the next step is to make a deposit. The deposit process is basically the same on every site.

1. Tap the “Deposit” button on the home page or on your wallet page
2. Choose a payment method
3. Enter the deposit amount and your payment service login details or account number
4. Tap the “Deposit” or “Confirm” button
5. The deposit is complete once the funds appear in your wallet balance

Payment methods vary by bookmaker, but options include credit cards, bank transfers, e-wallets and cryptocurrency.

A credit card is a good choice if you want to start right away (credit cards often cannot be used for withdrawals, so you will need another method for those). Credit cards cannot be used for gambling in some countries, such as the UK. A bank transfer works well if you want to use one method for both deposits and withdrawals, and an e-wallet is a good option if you want to keep fees down. Cryptocurrency tends to come with relatively high deposit and withdrawal limits (limits vary by operator).

A Deposit Bonus Lets You Start with a Smaller Bankroll

Many bookmakers offer a first deposit bonus. A deposit bonus is a promotion that gives you bonus funds for sports betting based on the amount you deposit. With a 100% deposit bonus, for example, you receive a bonus equal to your deposit, which doubles the amount you have to bet with. Keep in mind that bonuses come with wagering requirements.

A deposit bonus lets you enjoy sports betting even with a small starting balance. Besides the first deposit bonus, bookmakers may also offer bonuses on a regular basis.

How Much Money Do You Need to Start with a Bookmaker?

If you are betting for fun, you do not need a large amount of money. You might bet on the team you support, or on an unfamiliar sport, and simply enjoy watching the match. As a guideline, a first deposit of around $30–50 is a good place to start.

If you want to keep playing over a longer period, though, a larger bankroll helps. Your balance rises and falls with each match, and a few losses in a row can use up your funds. With around $100, it is easier to keep betting through a losing streak. In either case, deposit only an amount you can afford to lose.

How to Bet on Sports: From Choosing a Match to Placing a Bet

Once you have made a deposit, you can place your first bet on a sporting event.

The selection depends on the bookmaker, but dozens of sports are usually available, including soccer, baseball, basketball, tennis and esports. You can bet on a wide range of competitions, such as the Premier League, Major League Baseball and the US Open.

Many bookmakers also let you bet on matches in your own country’s domestic leagues. During major international events such as the World Cup and the Olympics, you can bet on those games as well.

1. Choose a sport
2. Choose the match you want to bet on
3. Choose a bet type
4. Enter your stake
5. Tap the “Place Bet” button to finish

Bookmakers offer many bet types, such as handicaps and over/under (totals) bets. For first-time bettors, the easiest to understand is the 1X2 (three-way) bet, in which you choose between a home win, a draw and an away win. Betting on the team you support also makes watching the match more exciting.

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What Are Bookmaker Odds?

If you have bet on horse racing, the idea may already be familiar: bookmakers set a price for each outcome, called the odds. The odds are a number that shows the payout on a winning bet, and they are set lower for outcomes that are considered more likely. A winning bet returns your stake multiplied by the odds, so the less likely a bet is thought to win, the higher its odds and the larger its payout. In the US, the same price is usually shown as American odds; for example, decimal odds of 5.00 are +400.

Sports betting odds are set in advance by the bookmaker and then move in response to betting activity. The odds a bookmaker offers also have the bookmaker’s cut, called the margin (also called the vig), built in. The inverses of the odds for all possible outcomes add up to slightly more than 100%. The inverse of that total is the payout percentage (the share of all stakes paid back to bettors), and 100% minus the payout percentage is the margin. As with any form of gambling, betting at random will therefore lose money over the long run.

The main difference from pari-mutuel betting is that the odds are fixed the moment you place your bet.

In pari-mutuel betting, as used in horse racing, the odds change with the amounts bet by all bettors and become final only when betting closes. At a bookmaker, your bet is settled at the odds available when you place it, so even if the odds move afterward, the payout on your bet does not change. Being able to choose when to bet and which odds to take is a defining feature of bookmakers. Fixed odds do not, however, give you an edge in themselves.

Make a Withdrawal

Once you have won money betting on sports, the last step is to withdraw it from the bookmaker to your bank account or another payment method. As with deposits, the process is broadly the same on every site.

1. Tap the “Withdraw” or “Withdrawal” button on the home page or on your wallet page
2. Choose a withdrawal method
3. Enter the withdrawal amount
4. Tap the “Withdraw” or “Request Withdrawal” button
5. The withdrawal is complete once you receive a confirmation email from your payment service

You cannot choose any withdrawal method you like. As a rule, you must withdraw using the same method you used to deposit; using different methods for deposits and withdrawals may be flagged as possible money laundering. If you deposited by bank transfer, for example, you also withdraw by bank transfer. Credit cards, however, often cannot be used for withdrawals, and in that case you choose another method, such as an e-wallet or a bank transfer.

Identity Verification (KYC) Is Required for Your First Withdrawal

Many bookmakers require identity verification, known as KYC (know your customer), before your first withdrawal. Verification confirms that the details you entered when you registered, such as your name and address, are correct. You upload photos of your ID and proof of address to the bookmaker.

The documents usually required are listed below, although some bookmakers ask for different ones.

• Proof of identity: a passport, driver’s license or national ID card (photo ID)
• Proof of address: a recent utility bill or bank statement
• Payment documents: a screenshot showing your bank account details, a photo of your credit card or a screenshot of your e-wallet account

At bookmakers that require verification, you cannot withdraw until the process is complete.

3 Ways to Get More Out of Sports Betting

Betting on your favorite team and cheering it on is enjoyable enough, but sports betting offers many other ways to play.

Use Prediction and Analysis Sites When Choosing Matches

For every major sports league there are many websites, not just those run by bookmakers, that analyze and predict match results.

Popular professional leagues, such as the Premier League, Serie A and the Bundesliga in soccer and MLB in baseball, are covered by many analysis sites. These sites are useful for gathering information, but the track records they publish cannot be independently verified. Treat them as only one factor in your decision, and be cautious with paid tipping services.

If you are confident in your analysis of a sport, you can try other bet types beyond simply picking the winner, such as handicap bets or correct-score bets. As explained above, bets that are less likely to win have higher odds, but that does not give you an edge.

Try Betting on a Different Sport Now and Then

Besides professional leagues in popular sports such as soccer, baseball and basketball, bookmakers let you bet on individual sports such as tennis and golf, indoor games such as darts and billiards, less widely followed sports such as kabaddi and squash, and esports.

Some bookmakers also have a “Specials” category with bets on events outside sports (prop bets), such as who will win a Grammy or which party will win the next UK general election.

Following the same league is enjoyable, but we also recommend betting on a different sport from time to time. Try a small bet on an unfamiliar sport, then watch the match. You may discover what makes that sport appealing and gain another fixture to look forward to.

Take Part in Promotions and Special Events

Bookmakers run many promotions and events. Many of them effectively reduce your losses, such as “50% cashback on losing bets on a specific match” or “boosted odds on a parlay (also called an accumulator or multi) with three or more selections.” Using these promotions does not, however, remove the bookmaker’s margin.

During major international events such as the World Cup and the Olympics, promotions are sometimes expanded. Some bookmakers run offers such as a free bet for every goal scored in a Brazil match, so check the promotions page regularly.

Summary: Register, Deposit, Bet and Withdraw in Four Steps

Getting started with a bookmaker is simple. Choose a licensed bookmaker after comparing the sports it offers and its bonus terms, such as wagering requirements and minimum odds, and once you have registered, you can start betting right away.

Next, make a deposit, choose the sport and match you want to bet on, and place your bet. If your bet wins, you can withdraw your winnings after you complete identity verification. If you used a bonus, keep in mind that you must meet its wagering requirement.

Enjoy sports betting in whatever way suits you, whether it adds to the excitement of watching a match or gives you a way to use your in-depth knowledge of a sport.