Sports betting can be quite challenging especially as a beginner. This is because there are many aspects that you need to learn, understand, and master. In this guide, we will discuss 15 tips to help you get started.
Identify an Ideal Online Bookie
Currently, the online sports betting market is saturated with multiple bookmakers. Before you can start betting, you should review various sportsbooks to identify the platform with the best bonus, markets, betting options, and odds. For example, before you can start betting on the Fansbet platform, you should read the Fansbet review. That way, you can quickly familiarize yourself with the offers and features of the online bookie.
Dedicate Enough Time for Research
Research about teams and the bets on offer. Before placing your wager, study team records against the spread. The research will ensure that you are making an educated prediction—your chances of winning increase when you spend time doing quality research.
Avoid Personal Bias
Naturally, you prefer betting on your favorite sport, team, or player. This is not always ideal unless you are only betting for fun. To make money from betting, you should not let personal bias affect rational judgment. I advise avoiding match events where you have a personal interest in the outcome.
Learn Basic Odds
As a beginner, it is crucial to understand the basics. Before diving into complicated bets, you should learn how to read odds and different bets. It would help if you understood how different bet types are presented in American, decimal, and fractional odds systems.
Set Achievable Goals
As a new player, you should understand the difference between winning a few wagers and making a profit out of a wager. Most people overestimate their betting skills. The fact is that only punters make a profit in the long run. Your initial target should be trying to learn more and develop gradually. Once you have attained this, you can start setting complex objectives.
Develop a Good Bankroll Management Strategy
Irrespective of how much money you have, you should have a clearly defined staking plan. Always remember that the chances of losing money usually are higher than the probability of winning. You should only wager an amount you are prepared to lose and ensure you do not exceed it. For better bankroll management, Wise Kracks podcast has several tips that come in handy for both beginners and advanced players.
Avoid Longshots and Big Accumulator Bets
Before you accumulate a big bankroll, avoiding longshot bets and accumulator bets with numerous selections is advisable. As a beginner, you should strive to avoid highly risky bets that will cause a significant drain on your bankroll.
Compare Odds and Lines Across Different Online Bookies
It is advisable to have accounts with multiple betting sites. When placing a bet, you can compare odds and lines offered by different bookmakers and select the most lucrative. Therefore, when placing a huge accumulator bet, you should shop for the best lines and odds.
Diversify Your Bet Placements
Most bettors tend to specialize in one sport or bet option. However, to reduce the risk of losing money, you should consider spreading your money over more bets, sports, and events.
Record Your Betting History
Beginners rarely keep records of their betting activities. This is a huge mistake. Without a good record, you will be unable to track your spending. In addition, a good betting history enables you to explore trends and find ways to improve. You can use some of the best bet trackers to help you with your betting history. Some of the information that you may record include:
- Total odds
- Bet amount
- Bet result
- Total payout
Do Not Lose Hope
It is common for beginners to lose hope when they experience an extended period of losing. You should not be discouraged. Losing as a beginner does not necessarily translate to never making money. Even the best punters experience these losing runs!
Evaluate Your Strength and Weaknesses
You can easily track your wagers across all events with a detailed record of your betting history. Thus, you can identify your areas of strengths and weaknesses from the beginning. It would be best to focus mainly on areas that record more successful betting to maximize your winnings.
Explore the Bet Builder Feature
Many online bookies are now offering the bet builder feature. Although they might be riskier, bet builders present beginners with an opportunity to wager at bigger odds by combining various outcomes. This option is advisable if you are incredibly knowledgeable about both teams. You should, however, only place small stake bets due to the high risk.
Take Advantage of Winning Streaks
You should identify and take advantage of teams’ winning or losing streaks. If you can identify them earlier than the bookmakers, it gives you a huge chance to win wagers. For better predictions, you should observe schedules and other factors affecting the streak.
Take Periodic Breaks
You should consider occasional breaks from betting to avoid addiction or getting frustrated by outcomes. A break will keep you rejuvenated and thus ensure that you make good decisions when betting. If you insist on betting without breaks, you might experience burnouts that ultimately translate to losses.