How to bet on sports for beginners: 15 tips you should know
Sports betting can be quite difficult, especially as a beginner. This is because there are many aspects that you need to learn, understand and master. In this guide, we’ll discuss 15 tips to get you started.
Identify an ideal online bookmaker
Currently, the online sports betting market is saturated with multiple bookmakers. Before you start betting, you should review various sportsbooks to identify the platform with the best bonuses, markets, betting options and odds. For example, before you can start betting on the Fansbet platform, you must read the Fan Bets Review. This way you can quickly familiarize yourself with the offers and features of the online bookmaker.
Spend enough time researching
Research on the teams and the bets offered. Before placing your bet, the study team records against the spread. The research will ensure that you make an informed prediction – your chances of winning increase when you spend time doing quality research.
Avoid personal biases
Naturally, you prefer to bet on your favorite sport, team or player. This is not always ideal, unless you bet just for fun. To make money from betting, you must not let personal bias affect your rational judgment. I advise avoiding match events where you have a personal stake in the outcome.
Learn basic odds
As a beginner, understanding the basics is crucial. Before diving into complicated bets, you must learn to read the odds and the different bets. It would help if you understood how the different types of bets are presented in the American, Decimal and Fractional odds systems.
Set achievable goals
As a new player, you need to understand the difference between winning a few bets and profiting from a bet. Most people overestimate their betting skills. The fact is that only bettors make long-term profits. Your initial goal should be to try to learn more and grow gradually. Once you have achieved this goal, you can start setting complex goals for yourself.
Develop a good bankroll management strategy
Regardless of how much money you have, you should have a clearly defined staking plan. Always remember that the odds of losing money are usually higher than the odds of winning. You should only bet an amount that you are willing to lose and make sure you don’t exceed it. For better bankroll management, the Wise Kracks podcast offers several useful tips for beginners and advanced players alike.
Avoid longshots and big accumulator bets
Before accumulating a large bankroll, it is advisable to avoid longshot bets and accumulator bets with many selections. As a beginner, you should try to avoid very risky bets that will take a big drain on your bankroll.
Compare odds and lines between different online bookmakers
It is advisable to have accounts with several betting sites. When placing a bet, you can compare the odds and lines offered by different bookmakers and select the most lucrative ones. Therefore, when placing a huge combination bet, you should look for the best lines and odds.
Diversify your betting placements
Most bettors tend to specialize in one sport or betting option. However, to reduce the risk of losing money, you should consider spreading your money across more bets, sports and events.
Save your betting history
Beginners rarely keep records of their betting activities. This is a huge mistake. Without a good record, you won’t be able to track your expenses. Additionally, a good betting history allows you to explore trends and find ways to improve. You can use some of the best betting trackers to help you with your betting history. Some of the information you can record includes:
- Total odds
- Bet amount
- Result of the bet
- Full payment
do not lose hope
It is common for beginners to lose hope when they experience a long period of loss. You shouldn’t be discouraged. Losing as a beginner does not necessarily mean never making money. Even the best bettors know these losing runs!
Assess your strengths and weaknesses
You can easily track your bets on all events with a detailed record of your betting history. So you can identify your strengths and weaknesses right from the start. It would be best to focus mainly on the areas that register the most successful bets to maximize your winnings.
Explore the Bet Builder feature
Many online bookmakers now offer the bet creation feature. Although they may be more risky, bet builders offer beginners the opportunity to bet at greater odds by combining various outcomes. This option is recommended if you are incredibly knowledgeable about both teams. You should, however, only place low stake bets due to the high risk.
Enjoy winning streaks
You need to identify and take advantage of teams’ winning or losing streaks. If you can identify them earlier than bookmakers, it gives you a huge chance of winning bets. For better predictions, you need to observe timings and other factors affecting the sequence.
Take periodic breaks
You should consider occasional breaks in betting to avoid addiction or getting frustrated with the results. A break will keep you rejuvenated and thus ensure you make good decisions when betting. If you insist on betting non-stop, you could suffer burnouts that will ultimately result in losses.