A Beginner’s Guide to Online Sports Betting
August 17, 2021
Online sports betting is now one of the most profitable industries worldwide, with several companies and individuals joining daily. Reportedly worth billions of dollars, the sports betting industry is now saturated with betting sites offering fast withdrawal and high odds. However, beyond the allure of quick payments and big wins, there are certain tricks successful punters often have up their sleeves. These tricks are the result of many years of experience, research, and close shaves.
As football leagues resume this August, punters will be making deposits and funding their betting wallets. Before funding your wallet or registering with that online betting platform, it is essential to read their terms and conditions, as well as understand the intricacies of the sports you’re wagering on. Join us today as sports betting expert Kate Richardson (You can view her profile here) walks us through betting tips 101 for newbie bettors to ensure a pleasurable online sports betting experience.
Five Building Blocks of Online Sports Betting
One of the first things you learn as a punter is that there is no one size fits all approach. As such, you shouldn’t expect your strategy and permutations to work all the time. Regardless of this fact, there are certain tips and checks you can employ to ensure your betting experience is more smiles than gloomy. Below are five basic rules to help you launch your punting career.
Avoid Placing Emotional Bets
As a punter, you need to rein in your emotions. Sports are highly entertaining and unpredictable. Consequently, you must place bets on verifiable facts and statistics rather than your favorite team or player. For instance, when betting on athletics, backing the athlete with the fastest time in the year is a no-brainer. Betting against such an athlete should only happen when you have reasons to believe an upset will happen.
Emotional betting reduces your chances of winning at online sports betting as you end up placing wagers with your heart, and a bias. Putting emotions aside when placing bets helps to clear your head and select an objective, realistic pick.
Familiarize Yourself With The Sport(s)
Lesson two and an unwritten rule in the sports betting world is becoming familiar with the game. Betting is a personal experience, and unless you are going to rely on others to do it for you (which may not be the best option), you should familiarize yourself with whatever sport you want to bet on. Think of it like a business you want to invest in, usually, you’ll conduct feasibility studies and other findings to ensure the safety and profitability of your investment.
Sports betting deserves the same treatment if you’re looking to multiply your funds. Take time out to read about the sport instead of just backing the favorites. This is particularly useful in individual sports like tennis and boxing where upsets happen often. Minute details such as the court type, number of season appearances, and current mental state go a long way in determining who wins the game. For instance, the European Championship only has ten different winners in sixteen editions, a resource accessible only via research.
Cultivate A Betting Budget
As a punter, your finances should be of utmost concern to you. Consequently, it is important to watch how much you put into sports betting. The major reason is that sports are just as unpredictable as the next hour of our lives as humans. In sports betting, you should prepare to lose some, and win some.
Because of this, it is necessary to have a standing budget to prevent running into debt. A good punter should emphasize financial management to avoid betting-related problems. In combination with avoiding emotional bets, punters should not try to chase losses. Chasing losses or being greedy reduces the objectivity and realistic probabilities of your bets.
Have A Strategy
A strategy is an important tool in your weaponry as a punter. You cannot place a bet on every fixture even if you tried. To maximize your time and funds, it is best to pick only a handful of games you trust. Generally, bettors often focus on placing daily rollover bets anywhere between 2 to 10 odds, though some are more audacious and play anywhere from 100 to 1000.
Whatever side of the spectrum you fall into, pick a betting strategy that works for you. You should also study the available betting markets for the sport you have chosen to understand the reasoning behind them. It is important to identify your sports betting strategy and preferred markets early in your outing career. While it is not a bad idea to try different strategies as a punter, you should do so with extreme caution and a clear understanding of the sports betting market.
Research The Bookies
Several times, your decisions as a punter are based on the promise of high odds and fast withdrawal times. While these are not wrong templates to follow, it is essential to verify the status of the bookmaker. Questions like legitimacy and whether the site has a valid gaming license to operate in your country are key considerations.
Due to the ongoing rise and profitability of sports betting, several bookies are entering the market. This makes it important to verify the legitimacy of any betting site you choose to trust with your money. You can find a list of registered and reputable bookmakers on the Mightytips website to ease your worries.
Additionally, bettors should stay away from prediction sites that “guarantee” a winning ticket upon the payment of fees for “fixed games”. Such websites are usually fraudulent and out to rip you off your cash.
These tricks and tips will come in handy in your first moments as a sports bettor. While the list is not exhaustive, they are strong wonderful foundations to build your punting journey upon. Hopefully, you can administer them religiously and have a fruitful betting experience.
Next read: A Run at Online Cricket Betting