When it comes to online sports betting, there is so much more to it than meets the eye. You might think that all you need to know is a bit about sports and then you can get betting but it’s a lot more layered than that.
You must first understand so many things, such as the rules and jargon around sports betting, where to place the bets, i.e., how to find a reliable and trustworthy site, how much you really need to know about a team to place informed bets and what to do when you’re playing too much or feel too passionate about betting. So much to know, so little time, so it’s crucial that you keep up and remember some of the below, to ensure that you are an informed beginner sports bettor.
Start by Understanding the Basics
Online sports betting is based on quite a few basics. They may sound complex to start but don’t worry, you’ll soon get the hang of it. The basics are really just pieces of jargon or terminology that you need to know and understand, so that you can be sure you make solid bets that are informed. There is nothing worse than spending hours researching a team and feeling like you really know what’s going on, just to make the wrong type of bet.
Some of the most common types include:
- Moneyline bets: Here, you simply choose who you think will win the game or match.
- Point spread bets: This is where you’re betting on the margin of victory, which levels the playing field between a favorite and an underdog.
- Over/Under (Totals) bets: It’s all about you predicting whether the total score will be over or under a number set by the sportsbook.
- Prop bets: These are fun, side bets on specific events, like which player scores first or how many points someone will get.
- Parlay bets: This is where you combine multiple bets into one, increasing both potential winnings and risk.
Yes, as previously said, it sounds and looks daunting but with time, you’ll get the hang of it, don’t worry.
Find a Trusted Sports Betting Site
The most important step in getting started is finding a reliable and secure online sports betting platform, as this can make a huge difference to how you approach betting. Here are key things to look for in a trustworthy platform:
- Proper licensing: Check that the site is regulated by a recognized authority, such as the Malta Gaming Authority or a US state gaming board.
- Fair odds and transparent policies: A reputable sportsbook will clearly display odds and payout rules without hidden terms.
- Go for longevity: A site that has been around for a while is usually a good option because it means that they have been trusted and played for a long time.
- Excellent customer service: When in doubt, you need some reliable customer service. Any platform you pick has to be one that allows you to contact them anytime. You could be playing at 3 am and need to get in touch and they have to be there for you.
- Payment flexibility: As always, the best sites offer a variety of deposit and withdrawal options, from cards to e-wallets and bank transfers.
Learn to Read and Interpret Odds
Odds are not easy. As a beginner, it’s important for you to realize that you can’t beat the odds. There is no such thing. A lot of more experienced players may want to sell you on the idea but it’s worth noting that even though sports betting is based a bit on the research you do and the structure of an actual team, it’s still based on chance. But getting back to odds, below you can see how they work with an example.
For instance, in American odds, a negative number like -150 means that’s how much you’d need to bet to win $100, while a positive number like +200 shows how much you’d win if you bet $100. Odds essentially represent probability, so lower odds mean a higher chance of winning but smaller payouts, while higher odds mean bigger potential rewards with more risk.
Set a Realistic Budget and Stick to It
There is nothing more important than a budget. Especially when it comes to something like sports betting, where you’re merging two really interesting and thrilling things, namely sports and betting. You have to stay on your toes, you have to exercise caution and you have to make sure you know what you’re doing.
- Decide on a monthly or weekly betting limit before you start.
- Only wager money that you can afford to lose.
- Keep track of your bets to monitor patterns and results.
If all of the above still sounds like too much, then please leave the real money games for another day and instead try demo games. These will allow you to play to your heart’s content without actually having to invest any of your own funds.
Do Your Research Before You Bet
One of the best ways to improve your betting success and confidence is by doing a bit of homework before placing a wager. Successful bettors rely on research, not just gut feeling, to make informed choices. Focus on reviewing team or player statistics before each match, consider recent form and injury updates and check weather conditions, which can influence outdoor sports. Other than that, just pick a safe and reliable site and you should be fine.
