If you follow MMA and the UFC, you surely know that betting is huge these days. Not only is the sport itself super popular, but everyone wants to get a piece of the action as far as potential wagers are concerned.

There are reasons for this, for sure. Winnings can be huge, and they continue to grow as the sports grow in popularity. But there is little point in betting unless you can be reasonably sure that you can get it right. So you should take the time to learn the odds so you know how to bet effectively.

Get on board

Once you learn the ins and outs of betting, you can go to FIRST.com betting site reviews & rankings and start placing your bets. But don’t forget to do your homework first!

How to read the odds

The first thing you should know is how to read the odds. If you’re not familiar with sports betting in general, learning how to read odds will help you across the board. The way it works is this: Whoever is a favorite in a given game or match will have a minus sign (-) next to their name. Whoever is the underdog will have a plus sign next to their name (+).

The way that odds are placed is generally based on a minimum of $100. Sportsbooks who run the bets will take a cut of the wagers, and this is referred to as the “juice.” It is usually between $5-10.

Betting based on advantages

If you see a match between two competitors - Say Connor McGregor and Habib Nurmagomedov - you should look for the value of the “-” competitor to see his advantage. If you see that Nurmagomedov has -25, you need to put down 25 on him to win. 

Obviously, you can bet on an underdog, and you might want to if you know something secret about an advantage they have in a particular match, or an injury or a disadvantage to a favorite.

Types of bets

There are different types of bets that you can make when betting on the UFC. This includes:

• Winning the fight. You can bet a certain amount of money on who will win the fight regardless of what the precise outcome is in terms of score. In this case, you will bet based upon the scheme presented above. The amount that you wager vis-a-vis either the favorite’s or underdog’s ranking will determine what you win (or lose).
• Outcome of the fight. You can also bet on what the actual outcome of a fight will be. This is determined by a combination of the odds of the favorite and underdog, as well as the “method” of victory. There are three different types of victories: knockout, submission, and decision. Each fighter has a particular set of odds for each of these methods, based upon past performance. The amount that you might win depends on these particular odds.
• Round betting. You can also bet based upon individual rounds in a match. In other sports, you make over/under bets based upon projected scores. In the case of round betting, you place bets based on the number of rounds that will take place. You can either be over or under by a particular amount, and your win will be based upon the previously projected number of rounds.

Other considerations

Not only do people have to think about who will win, but they need to consider how a fight might end. If you watched Anderson Silva, for example, you would need to pay attention to how he finished his competitors off to really be effective at betting.

Another thing to take into consideration is time. How long do fights tend to last? How long do they tend to last with particular fighters?

Add to this differences in fighting styles. Even the strongest fighters have particular strengths and weaknesses. Even someone as seemingly invincible as McGregor has weaknesses. After having broken his leg, he could be vulnerable in this area, causing his competitors to take advantage of it. 

Educate yourself first

Again, as exciting as it might be to get online and hit the betting sites, you should first take the time to slow down and learn how to go about the betting process strategically. Learning the ins and outs of MMA will make a huge difference in your ability to win. Fortunately, there are many forums and information portals available these days where you can find lots of facts and other useful information that will help you understand the odds better. Then you can start preparing to win!