Sports betting is not a new thing. People have been betting since the concept of competition. Until recently, the only way to bet was to visit a local bookmaker and place a bet in the betting shop. And this is usually in boxing or horse race. Sports betting has emerged from the shadows now and is mainstream. Legal sports betting has emerged as a multi-billion dollar industry in the United States and many other countries.
Are you new to betting?
The biggest mistake newbies like you make is thinking that sports betting is a guessing game! That is a sure way to lose. In this article, we’ll go over the basics and 12 ultimate sports betting tips for the complete newbie.
Tip #1 Rules of the Game
Professional sports betting has no set of rules, apart from those defining how a stake is placed, the payout, and what defines a winning bet. This means that you can bet on anything you want, with any money you have, and using any betting platform you want. Anyone and anything goes. BUT that is the trick to falling off the edge, don’t you think?
Tip #2 Discipline
When placing bets, a successful sports bettor is extremely disciplined. If you’re not disciplined, can you use a bankroll to its full potential? Probably not. You see, just like any venture, successful bettors take sports betting as seriously as any business. Every professional sport betting business aspect must be under the bettor’s management. To separate themselves from intuitive amateurs, a professional bettor must be able to place wagers without emotion.
Tip #3 Pick Trusted Betting Sites
Online betting has opened up a whole new world for us when it comes to where and what sports we can bet on. It’s almost as if it’s too much at times! Bet365 is one of the most well-known online betting sites in the world. However, you can join any betting platform you like. Here are 6 things to look out for on a betting site:
- A good welcome bonus offer
- Offering bet options on your favourite sports
- Giving the best odds
- Topnotch betting features
- Has betting app on App stores
- Combines sports betting, online casino and poker
You should opt for several betting sites. Having an account with multiple betting sites allows you to compare odds and play to each betting site’s strengths depending on the bet you’re looking to place.
Tip #4 Money Management
Successful sports bettors know how to manage their money wisely. Never risk more than you can afford to lose, and fully understand the consequences of losing. Because of the inherent danger of sports betting, it’s best left to the professionals. Engaging in a well-considered money management routine helps to keep them in check.
No one will manage your money for you if you don’t take charge of it. Someone else is reaping the benefits of your bets while you’re not even thinking about them because they’ve put in the effort to win. If you lose your bets, they walk away with a large sum of money to use for their professional endeavours.
Tip #5 Understand the Sport
You can expect a professional sports bettor to thoroughly understand the sport’s strategy and rules before betting on it. It’s safer to place bets on something you are familiar with than on something you are unfamiliar with.
Don’t bet on a sport if you don’t know anything about it, no matter where you play. Place your bets based on your knowledge; the more you know, the better. It’s never a bad idea to do a little homework.
A sport is a form of education in its own right. While vast in form, it contains the tangible, non-tangible, and intuitive qualities that most educational processes have. What good is it to bet on sports if you don’t know anything about them?
This is the best possible reason to tune in to a sporting event.
Tip #6 Determine the stakes
A professional sports bettor focuses on the ability to place smart money bets. The criteria used to define them are quite specific.
Most professionals won’t play parlays. You should avoid propositions and exotics at all costs. Moneyline, total bets, and the point spread are where the pros place their bets. Why is this method preferred?
In the first place, the bets can be easily reverse-engineered because the calculations are based on the players’ facts, stats, and actions. These bets are easy to make. Using a line, spread, or over/under is not an option. Depending on the outcome, you’re either a winner or a loser.
On the other hand, professional sports bettors rely on in-game information to help them make well-informed decisions. Some games do not allow this. They also refer to where they place their bets on a particular game. It’s not uncommon for people to overlook smart money bets, as they tend to bet on underdogs and lose frequently.
Tip #7 Make The Betting Platform Work For You
What can this platform give me?
This is the question you should first ask before you start.
Many online betting companies emphasize the significance of brand loyalty, but what may work for the bookies doesn’t necessarily work for you as an individual.
Use the appropriate sign-up bonus.
As a result of the fierce competition in the online betting business, bookmakers must reward new consumers with bonuses. Take advantage of any sign-up offers that may pay off, and read the fine print carefully.
Tip #9 Look out for their range of odds, market variety, and modern features
Check if the betting sites you’re considering have the most betting alternatives. To begin, consider which sports you enjoy and see if the online betting service you’re considering offers odds markets for those events.
Tip #10 Keep Records
Sports betting is a business, so professionals treat it like one. To put it another way, they conduct themselves as a corporation would.
They track how much money they lose, make, and spend. A sports bettor risks losing everything if they don’t spend time researching previous results.
Bettors who keep meticulous records of their bankroll movements, the sorts of bets they place, and the results of those moves can learn from their mistakes, improve their strategy, and ultimately win more money in the future.
Tip #11 Don’t Just Bet On The Favourite
Always betting on the favourite and only placing winner bets are two classic pitfalls to avoid. However, finding appropriate odds and placing multiple bets is necessary if you want consistent success as a bettor. You’ll be able to diversify your bets if you know what’s available in terms of odds.
Tip #12 Make sure you stay sharp
We’ve already spoken about how you can improve your chances of success by being more knowledgeable. On the other hand, professionals constantly have their fingers on the pulse.
You must stay on top of the game and maintain tabs on developments from when the opening odds are first released to the closing odds five minutes before kickoff.
THE RIGHT WAY TO BET ON SPORTS
Now that you know what distinguishes pros from amateurs, you’re well on your way to gaining and honing these abilities in your own practice.
When it comes to professional sports betting, careful preparation and effort are required. Sure, it’s a fun habit, but nobody likes seeing their bank account shrink as they indulge in it. So if you want to make money betting, you need to improve.
However, mastery takes time. Start small and work your way up to being an excellent trader by studying your bets and learning the trade techniques.