Sports betting is as much of an art as it is a science. It takes a while to go from being a beginner to a seasoned bettor with multiple wins under your belt. If you are new to betting and looking to sharpen your skills, there are a few things you should know about your new favourite pastime.
Here are our 7 top tips for beginners to get you started.
#1: Seek Expert Advice
The experts who set the lines are intelligent, talented, and put plenty of time and money into their pursuits. Take the advice of professionals wherever possible when placing your bets.
#2: Do Your Research
The more you research, the more likely your wagers will prove successful. Read everything you can about your team or side, including performances, injury reports, statistics and more. Many online sportsbooks offer statistics and news pages to keep you informed so you can place better bets.
#3: Don’t Get Carried Away by Winning Streaks
Many a bettor has lost all of their winnings after getting carried away during a ‘winning streak’. You may be able to improve your odds in sports betting, but you can never guarantee a win. A few victories in a row do not indicate that your next wager will be a winning one!
#4: Be Careful with Betting Systems
You may have heard of betting systems like the Martingale system, which tell you how to wager after losses and wins. They claim to be able to predict, to a degree, when you will win or lose. However, these systems rarely work in real world settings, and can quickly drain your bankroll.
#5: Don’t Bet on Every Game
Just because you love the sport doesn’t mean that every game is a good wagering opportunity. Make sure that you do your research ahead of time before deciding to put your money down. It’s better to be safe than sorry, especially if you could lose hundreds of dollars on a whim.
#6: Go Easy on the Parlays
Risk can be exhilarating, and of course, every bet involves it. However, parlay bets offer a whole new level of risk that can quickly perplex beginners.
If you want to hit a big parlay, you need hefty helpings of luck and information on your side. Rather stick with simpler bets like over/unders and moneylines until you are confident enough to venture into parlay territory.
#7: Manage Your Bankroll
Making massive bets can be heaps of fun – until your bank account runs dry, that is. Even the most successful bettors know that they have to manage their bankrolls well in order to get the most value from their money.
Set yourself a budget before you place any bets, and stick to it at all times. If you find yourself running low on funds, don’t attempt to make larger wagers to try and recoup your losses. Rather pick it up again another day when you have the money available and you’re feeling confident in your abilities.