As a beginner, sports betting can be quite challenging. The reason for this is that there are many aspects to learn, understand, and master. We will discuss 10 tips to help you get started in this guide.
- Identify an Ideal Online Bookie
The online sports betting market is saturated with multiple bookmakers at the moment. You should review various sportsbooks before you start betting to determine the platform that offers the best bonus, markets, betting options, and odds. You should read the Fansbet review before betting on the Bet20 platform, for example. As a result, you will quickly become familiar with the online bookmaker’s offers and features.
- Dedicate Enough Time for Research
Research the teams and bets available. You should study the team’s record against the spread before placing your wager. Investing time in quality research will increase your chances of winning if you make an educated prediction.
- Avoid Personal Bias
Sports, teams, and players that you love are the most likely to bet on. Unless you are just betting for fun, this is not always the best option. If you want to make money from betting, you should not let your bias affect your rational judgment. If you have a personal stake in the outcome of a match, I recommend avoiding it.
- Learn Basic Odds
It is crucial to understand the basics as a beginner. You should learn how to read odds and different types of bets before diving into complicated bets. You should understand how American, decimal, and fractional odds systems present different bet types.
- Set Achievable Goals
New players should understand the difference between winning a few wagers and making a profit. It is common for people to overestimate their betting skills. Long term, only punters make a profit. Learning more and developing gradually should be your initial goal. It is only after you have achieved this that you can begin setting complex goals.
- Develop a Good Bankroll Management Strategy
Staking plans should be clearly defined regardless of the amount of money you have. Always remember that the probability of losing money is usually higher than the probability of winning. Only wager an amount you are willing to lose and do not exceed it. Both beginners and advanced players will find several tips useful in Wise Kracks podcast on bankroll management.
- Avoid Longshots and Big Accumulator Bets
It is advisable to avoid longshot bets and accumulator bets with several selections before you accumulate a big bankroll. For beginners, it’s best to avoid highly risky bets that will drain your bankroll quickly.
- Compare Odds and Lines Across Different Online Bookies
Multiple accounts at different betting sites are recommended. Different bookmakers offer different odds and lines, so you can compare them and choose the most profitable one. Consequently, you should shop around for the best lines and odds when placing a large accumulator bet.
- Diversify Your Bet Placements
The majority of bettors specialize in one sport or bet option. The best way to reduce your risk of losing money, however, is to spread your money across more bets, sports, and events.
- Record Your Betting History
It is rare for beginners to keep records of their betting activities. I think this is a huge mistake. If you don’t keep track of your spending, you won’t be able to track it. Furthermore, a good betting history helps you discover trends and improve. The best bet trackers can help you keep track of your betting history. You may record the following information:
- Total odds
- Bet amount
- Bet result
- Total payout
- Do Not Lose Hope
Beginners often lose hope when they experience an extended losing streak. Don’t let discouragement get the best of you. It is not necessarily true that beginners will never make money if they lose. These losing runs happen to even the best punters!
Evaluate Your Strength and Weaknesses
A detailed record of your betting history allows you to track your wagers across all events. This allows you to identify your strengths and weaknesses from the start. In order to maximize your winnings, you should focus on areas that record more successful bets.