How to bet on FanDuel Sportsbook: Guide for Beginners

FanDuel sportsbook ranks consistently as one of the top sportsbooks in the United States. We guide you through the ins and outs of the platform to enhance your betting experience.

Originally conceived as a provider of fantasy sports, FanDuel has risen to prominence as one of the most widely-known sportsbooks in the United States, forging partnerships with iconic teams such as the Chicago Bulls, the Denver Broncos, and the New York Yankees. 

Powered by attractive odds and lucrative bonuses, FanDuel has quickly become a fan favorite. This has been further bolstered by the user-friendliness of their interface and their live betting offerings.  

Here, we guide you through FanDuel sportsbook main features and offerings so that you can enhance your betting experience. 

How to Place Bets on FanDuel Sportsbook : Steps and Tips

• Open a Sports Betting Account with FanDuel

To open a betting account with FanDuel, follow this link, and click on the Join Now button, which appears in the top right corner. Once you’ve clicked, you should be prompted to register.

In order to register correctly, have the following information ready, which is required as part of FanDuel Know Your Customer (KYC) compliance processes: 

1. Full Legal Name
2. Date of Birth
3. Contact information (Email, phone number)
4. Physical Address
5. The last four digits of your SSN (Social Security Number)

Once you have provided the relevant information and your profile has been verified, your FanDuel sportsbook account will be activated, and you will be able to move on to the next step. 

• Make a deposit to your FanDuel account

After your account has been activated, you will need to make a deposit so that you can start betting. There are several options available for you to make your first deposit, among them: 

1. FanDuel’s prepaid card
2. ACH Transfer/eCheck
3. Visa and Mastercard (except in Tennessee and Iowa)
4. PayPal
5. PayNearMe
6. Bank Transfer

Following your first deposit, you are ready to place your first bet on FanDuel sportsbook. 

• Select the sport or league that you will place your bet on

As a platform, FanDuel is very intuitive and easy to navigate. Whether you are wagering on your mobile app or through a computer, it is easy to select the sport of your preference to place your bets. The most popular sports can be seen in a bar at the top, accompanied by their logo. It is very likely that here you will see the most popular leagues, like the NBA, the NFL, and the MLB, among others. By tapping or clicking on their icon, you can access the relevant markets for the sport of your choosing. 

Similarly, the bar at the bottom offers the “All Sports” option. Tapping or clicking there will display the list of all the sports that are available for wagering on FanDuel, and once there, you can explore the different betting opportunities and markets available for each sport. 

• Place your bet

You’ve opened your account, made a deposit, and chosen your wager on your team of choice for your favorite sport. Now what? The only remaining step is to place your bet. 

After you confirm your bet, you can consult the status of your active bets as well as your betting history by tapping on “My Bets” or the betting slip icon displayed in the white navigation menu at the bottom of the screen. 

Fanduel Sportsbook Betting Tips

• Make sure you understand the betting odds

Especially if you are new to sports betting, you must understand what betting odds mean, and how you can use the odds to calculate your potential payouts. 

As a U.S.-based sportsbook, FanDuel sportsbook relies on the American betting odds system, which can be initially hard to understand. 

If American odds are foreign to you, here are some initial points to help deepen your understanding:

1. When a team is favored to win, or an outcome is heavily favored to happen, American odds will have a negative number, for example, -120
2. When a team is an underdog, meaning, not favored to win, or an outcome considered unlikely to happen, American odds will have a positive number, for example, +120
3. The Profit Formula for Negative American Odds is = (100/Odds) * Wager
4. The Profit Formula for Positive American Odds is = (Odds/100) * Wager
5. Note that in both of the formulas, the result will be your profit, and in addition to that, if your bet is successful, you will recover the initial amount you wagered.

For more information on how to read and understand sports betting odds, and to look at practical examples, go to this guide. 

• Check for available odds boosts opportunities

Often, FanDuel sportsbook will offer odds boosts for certain bet selections. Odds boosts are bonuses and promotions that increase your prospective payout if your wager is successful. 

Odds boosts can be accessed by tapping on the Promo tab, and they are constantly changing. Therefore, it is highly recommended that, especially if you are betting on some of the most popular sports, you check your Promo tab before placing your bet, as an odds boosts opportunity could be available. 

• Stick to sports you know

A mistake many bettors often make is to place wagers on sports that they know little to nothing about. Sure, it can be appealing–and contagious to our enthusiasm–to look at all the money-making opportunities that exist when we first access a sportsbook. 

However, it is important to remember that betting on sports that you have no knowledge about increases your risk of losing, and this diminishes your overall betting experience. 

• Remember: Only bet what you can afford to lose

Remember that, in principle, sports betting is an entertainment activity, and it should be budgeted as such. Therefore, only wager what you can afford to lose, as otherwise, you could compromise your personal financial situation, and this takes the enjoyment away. 

If you or someone you know has a problem managing their gambling habits, and exhibits addictive behaviors or places their financial situation in jeopardy due to their excessive gambling, please check out this guide as to where to obtain help, or call 1-800-GAMBLER. 

How to Pick Winning Strategies

While there is always an inherent risk in sports betting, and no strategy can guarantee success 100 percent, there are strategies that you can utilize to optimize your betting results and maximize your probability of winning. One of my favorites is value betting. 

Value Betting

As you become more familiar with sports betting odds, you will learn about a concept that is called implied probability. 

In a nutshell, implied probability means that when a sportsbook publishes odds for a particular event, they do so based on an underlying implied probability. This is the likelihood that an event will happen according to the sportsbook’s analysis. 

Depending on whether the bet has negative or positive odds, there are formulas that you can use to calculate implied probability, as follows:

Implied Probability for Negative Odds = Odds/(Odds + 100)*100

Implied Probability for Positive Odds = 100/(Odds+100)*100

Therefore, if a sportsbook assigns a 33.4% implied probability to an event, and according to your analysis, the event has a 60% probability of happening, you are looking at a value betting opportunity. 

Value betting draws its name from Benjamin Graham’s and Warren Buffett’s value investing philosophy, in which they look for undervalued opportunities that have a higher reward-risk ratio.

 It is the same here. A bet that only has 33.4% of implied probability (according to the sportsbook), will likely have positive odds. Therefore, as value bettors, we would take the positive odds that, from our analysis, have a 60% likelihood of happening. 

To learn more about implied probability, click here. 

Focus on One Team/Outcome

It can be easy to get carried away by the excitement of a parlay bet. If the “parlay” term is new to you, a parlay bet essentially means a single bet that groups two or more wagers. For the parlay to be successful, all the bets included in the parlay must be considered winners.

While this proposition might seem attractive, it is often more lucrative in the long run to focus on one team or outcome at a time. Hence, if you would like to wager on two different teams, through this strategy, you would place two separate straight bets, one for each team. 

What this does is that it hedges your risk. If you had a parlay, and one of your selected teams loses, you lose the entire bet. With this strategy, if out of two selections, one wins and one loses, you still make a profit on the one you won, and depending on the odds, could still earn some money at the end of the day. 

Available Sports on FanDuel

FanDuel sportsbook gives sports fans plenty of options to wager on their favorite teams, including the most popular leagues, like the NFL, NBA, and MLB, among other sports. 

Here is a full list of the sports that are offered by FanDuel:

1. Australian Football
2. Baseball
3. Basketball
4. Boxing
5. Cricket
6. Cycling
7. Darts
8. Football
9. Golf
10. Handball
11. Ice Hockey
12. Lacrosse
13. MMA
14. Motorsport
15. Rugby League
16. Rugby Union
17. Snooker
18. Soccer
19. Tennis

Within each sport, there are different leagues and markets offered that cater to the interests of most sports bettors. 

How to Bet on Football with FanDuel

Football, and specifically the NFL, is one of the biggest drivers of sports betting nationwide. Look at the following statistics:

1. According to Variety, a CRG Global report mentioned that four out of five people (80%) who placed a bet on their mobile phone wagered on an NFL-related outcome. 
2. SportBusiness reported that 46.6 million adults are involved in NFL-related betting during the season
3. The total legal betting volume for the upcoming Super Bowl is expected to be between $800 million and $1 billion.

With that said, how do you join the action and bet on your favorite football team at FanDuel? 

Once you have followed the steps that we previously outlined, which include creating an account and making a deposit, you now need to select the NFL market to be able to access the relevant football bets. 

Remember that the different sports markets can be accessed in two different ways. First, the NFL, being one of the most popular leagues, will be featured in the top bar, highlighted by the NFL logo. Or, as another option, it can be accessed by tapping on the “All Sports” icon at the bottom. 

Once you have accessed the NFL bets, you can choose one of the different markets or types of bets available. Let’s review them. 

Type of Bets at FanDuel sportsbook

Spread

A spread bet is, by far, one of the most popular sports bets. What is meant by “spread” is a point margin or handicap that is given to a team to make the odds more even. 

The favorite team needs to “cover the spread” for the wager to be a winner. For example, if the Green Bay Packers play the Cleveland Browns, and the Green Bay Packers have a -3.5 spread, it means the Packers need to win by at least 4 points for the wager to be considered a winner. 

Moneyline

The moneyline pick is when a player wagers on a team to win the match outright. In the previous example, a moneyline bet on the Green Bay Packers would be successful if the Green Bay Packers win the match. 

Totals (Over/Under)

Totals or over/under bets are wagers on the total number of points that will be scored in the game by both teams combined. 

Betting on the “over” means that the total scored between both teams must be higher than the number given, while betting “under” means that both teams combined need to score less than that given number. 

For example, if the Detroit Lions are playing against the Miami Dolphins, and the sportsbook is setting the totals at 42, for an over bet to be successful, the total points scored would need to be higher than 42. Conversely, for an under bet to be successful, the total points would need to be lower than 42. 

If the combined points are exactly 42, then the bet would be voided, and the wager refunded.

Prop Bets

Also known as propositions, these are picks that focus on specific outcomes within a given game. For example, for a Monday Night Football game, one prop bet could be: Which team will score first? 

Parlays

A parlay is one bet that groups two or more wagers. For the parlay bet to be successful, all the wagers must win, otherwise, the whole bet is lost. Let’s imagine we picked three teams for Sunday: Arizona Cardinals, Cincinnati Bengals, and New York Jets. If the Cardinals and the Bengals win, but the Jets lose, our parlay is lost as a result.

Teasers

A teaser bet is that in which the player adjusts the point spread or handicap of their wager to increase their odds of winning. 

For example, if the Los Angeles Rams face the Washington Commanders, and the point spread in favor of the Washington Commanders is +7.5, then the player could opt for a teaser bet, and wager on the Washington Commanders with a +9.5 spread. 

This, of course, would mean the odds would be adjusted, but it also increases the probability of the bet being a winner. 

How to Place a Moneyline Bet on FanDuel

To place a Moneyline bet on FanDuel sportsbook, first, you need to log into your account and click on the NFL tab. Once you identify a game, make your pick from the Moneyline option, which can also be highlighted as “Money” and is located in the middle of the three main options. 

How to bet Over/Under on FanDuel Sportsbook

In the same table that the moneyline option is available, the third row–located to the right of the moneyline–highlights the “Total” option. Here, the O signifies “over”, so in the picture above, it means that the total will be over 50.5 points. The U signifies “under”, which means that the combined score, in the aforementioned example, would be lower than 50.5 points. 

How to do Prop Bets on FanDuel

There are several NFL prop bets available on FanDuel sportsbook. If you are looking at the main screen, you can select “More Wagers” and it will open up different prop bets possibilities, like Passing Props, Receiving Props, Rushing Props, Defensive Props, and other opportunities. 

How to do Parlays on FanDuel

To do a parlay on FanDuel sportsbook, you need to choose your wagers, and then, look at your bet slip to ensure that your selections are there. This will show you your combined odds, and at the bottom of your bet slip, you just tap the button to confirm your bet. 

How to do Teasers on FanDuel

When looking at the different markets, check out the “alternate spread” option, which will show you the different spread lines available. Make your selections to build your teaser bet.

Understanding odds

A critical requirement for success as a sports bettor is a keen understanding of odds, and how you need to apply them in order to make winning sports bets online. 

Initially, reading and understanding odds properly can be a daunting task. FanDuel, as a U.S.-based sportsbook, utilizes the American odds system. American odds are explained here, and for further information, visit this guide we created to help you have a thorough understanding of sports betting odds. 

States where FanDuel Sportsbook is available 

The states where FanDuel sportsbook is available are the following:

1. Arizona
2. Colorado
3. Connecticut
4. Illinois
5. Indiana
6. Iowa
7. Kansas
8. Louisiana
9. Maryland
10. Mississippi
11. Michigan
12. New Jersey
13. New York
14. Ohio
15. Pennsylvania
16. Tennessee
17. Virginia
18. West Virginia
19. Wyoming

This means that to be able to place a bet with FanDuel, you need to be physically located in one of the aforementioned states. 

In addition to this, FanDuel was approved on January 9th, 2023 to operate in the state of Massachusetts, following the state’s legalization of sports betting. FanDuel is expected to launch in Massachusetts later in 2023. To stay up to date in regards to the Massachusetts launch, join FanDuel here. 

FAQ

How do you use FanDuel sportsbook app for beginners?

Follow the steps we outlined to create your FanDuel account. 

How old do you need to be to bet on FanDuel?

To bet on FanDuel, you need to be 21 years old or older. 

Is FanDuel Legal?

Yes, FanDuel sportsbook is 100% legal and regulated in those states in which it is licensed to operate, which we listed. To place a bet, you need to be physically present in one of those states.

Can you win real money on FanDuel?

Yes, you can bet and win real money on FanDuel. 

Does FanDuel have an app? 

Yes, there is a FanDuel app available, which can be downloaded on both iOS and Android devices. 

Are there any winning strategies to make money on FanDuel?

While there are no guaranteed outcomes, this guide has some of the strategies we recommend to maximize your winning prospects.