Sports betting is one of the most popular forms of entertainment in the world, with a market worth up to $13 billion in 2019. For sports fans and casual bettors alike, it’s a way to take the excitement of watching a game or event to the next level. However, there are a few things that beginner bettors should know about sports betting before they start placing their first wagers.
1. Establish a Bankroll and Budget
A common mistake that beginner sports bettors make is to dip into their bankroll without setting aside a specific amount for gambling. This can lead to an unexpected avalanche of losses, which is why it’s crucial to set a specific budget for betting.
2. Research & Analyze All Bets
The most important thing to remember when making a sports bet is that there’s no such thing as a guaranteed profit. No matter how much research you do or how experienced you are, you’ll still lose money from time to time. This is why it’s so important to be able to identify weak spots in your game plan and avoid them at all costs.
3. Track Your Betting History
It’s important to keep a record of all your bets and where you stand financially, so that you can avoid any mistakes in the future. This can be done in a spreadsheet or notebook, and it will help you to focus on areas that are giving you the best results.
4. Claim Betting Lines & Odds Regularly
When betting on sports, it’s critical to always claim attractive betting lines and odds, as these can make a big difference in your winnings and losses. This can be done by simply comparing the odds and lines offered by different betting sites before you place your bet.
5. Decide when to Stop Gambling
It’s a good idea to limit your betting sessions to an hour or two, as this will ensure that you don’t overspend and risk losing too much of your bankroll. If you’re a serious bettor, you might want to consider splitting your session into multiple ones, as this will allow you to make more bets and avoid the risk of running out of money in the middle of a game.
6. Choose a Sport You’re Expert In
If you’re an avid fan of a certain sport, it’s a good idea to research it and make sure that you’re familiar with the rules and regulations surrounding the game. You can also look at past performances to see how your team or the team in question has performed in similar situations.
7. Bet on Favorites
When it comes to betting on a sporting event, you’ll need to decide whether to bet on the favorite or the underdog. The favorite is usually the team, player or other outcome that has a higher probability of winning. The underdog, on the other hand, has a lower probability of winning.
In addition, you should try to bet on the total number of runs or goals or points that will be scored by the teams involved in a game. This can be a great way to predict a game’s outcome, as it gives you a more accurate forecast of the total score and makes your bet more likely to pay off.