Sports betting has never been bigger. That’s because ever since the US Supreme Court’s momentous decision to legalize it back in May 2022 there has been an explosion.
More and more sportsbooks are springing up all the time – and more and more people are learning how to play on them.
But whether you’re a rookie planning to dive into online betting or prefer to place your bets in person there are certain tips that are sure to give you a head start. Here are just seven of them – follow them all and you shouldn’t find yourself going far wrong.
- Start small.
Like any new activity, you need to learn to walk before you can run. In terms of sports betting this means starting out by only wagering relatively small sums of money. It’s only natural that you’ll be making more basic mistakes at the outset until you gain proper experience. So it makes sense to ensure that those mistakes won’t cost you too much.
Over time you can build up the size and complexity of your bets as your confidence and knowledge of the betting scene gradually increase.
- Bet on what you know.
While there is undeniably an element of luck in all betting, by only betting on sports that you know a fair amount about you can maximize your chances of success. It can be tempting when you go to a sportsbook and see the wide array of sports that are available. This is especially true when you come across one with particularly high odds. But it’s sensible to resist the temptation as it’s the equivalent of taking a guess at whether a coin will land on heads or tails – but with rather worse than the 50/50 chance of you calling it correctly.
- Simple bets are best to begin with
Something else that you’ll notice is the number of different kinds of bet that you can make. These include the total number of points scored in the game and even the winning and losing margins. While these make for good options once you have some experience, it’s best to start off with simple moneyline bets. These are simply placed on which team will win in a game and are expressed as a number with either a + or – symbol in front. They are based on how much stake you will need to put down for either a winning bet to make you $100 or how much a $100 bet would win you. So a team at -150 are the favourites and would need a stake of $150 to win you $100. But a team at +150 would win you $150 for a stake of$100.
- Do your research.
Sport’s also never been so full of facts, figures and data. There are also countless sports podcasts to keep you up to date with who’s playing well, who’s injured and what a particular team’s form is like at the moment. This is all information that can be put to good use in making your betting decisions. In fact, by ignoring it you could be putting yourself at a distinct disadvantage.
- Find the best odds!
You’ll also soon discover that not all sportsbooks offer the same odds. So a little time spent searching the market will soon pay dividends. This is also a good reason not to place bets too far in advance of the game. Quite often you’ll find that a particular team or player will offer longer odds the nearer it gets to the start of the contest – and still go on to win and pay out for your bet.
- Keep emotion out of it.
Sport is something that arouses passions, that’s why so many people follow it. But it’s always going to be a big mistake to let your emotions cloud your betting judgment. Sure, you’d dearly love your favourite team to upset the odds and win and sometimes sporting miracles do occur. But it doesn’t happen very often so it’s always going to be better to rely on facts and logic when you’re making betting decisions rather than letting your heart rule your head.
- Never chase your losses
The final tip is perhaps the most important one of all. It can be tempting
, following a losing bet, to straight away look for another one to recoup your money. This is a mistake for two reasons. The first is that your judgment may be clouded and it’s a decision you’ll be making in haste. The second is that it probably won’t come off.
So set yourself a fixed budget to bet with. If you end up with more, well done. If you find that you’ve lost, then better luck next time!
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