The first time you do something new, the emotions tend to run the gamble. There’s the exhilaration created by the thought of trying a different experience, mixed in with the trepidation of treading into unfamiliar areas. These feelings will be front and centre as your first venture into the world of online sports betting.
On the one hand, the thrill and excitement created by having a stake in the outcome of a sporting event are likely to make the hairs on the back of your neck stand at attention. On the other hand, the knowledge that you are risking your hard-earned money on the outcome of a sporting event might make your dinner do cartwheels inside your stomach.
Each person’s level of risk acceptance is going to be different. Find that balance, maintain that level and follow these 10 simple instructions, and the world of online sports betting won’t seem nearly as daunting a process.
⦁ Picking A Sportsbook
You can’t bet without a place to place that bet. Fortunately, there are enough online sportsbooks out there to satisfy the whims of most everyone.
Sportsbooks are a lot like partners in a relationship. Looks are only skin deep. Find the deeper qualities that make sticking around worthwhile.
Check their reputation. The top sportsbooks will live up to scrutiny. Do their deposit and withdrawal methods fit into your banking options? Are their odds competitive with other sites? Do they offer wagering on sports that you desire to bet?
⦁ Bonus And Promotional Offers
One thing you’ll learn fast is that every betting site seeks to entice new customers with signup bonus packages.
But as was once said, there’s no such thing as a free lunch. Every bonus offer also comes with terms and conditions. You’ll want to read through all of these before you sign anything.
What are the rollover requirements? That’s the number of times you must bet the bonus before you may withdraw the money from your account.
⦁ Loyalty Programs
Every business offers incentive programs to develop loyal customers. The fact is, some of these loyalty programs are truly rewarding.
Check the perks offered at each site. Look for one that meets your needs.
⦁ Manage Your Bankroll
Nothing spoils the fun like losing all your money on the first day. The best habit to develop with sports betting is to treat it as an investment. Determine beforehand how much you’re willing to risk and don’t exceed that limit.
A good rule of thumb that experienced bettors employ is to never wager more than 5% of their entire bankroll.
⦁ Accept That You Will Lose
Professional bettors, the absolute sharpest players in the world, tend to win about 53% of their wagers. That’s a lot of losing along the way.
Bettors, like the athletes they wager on, will endure slumps. But the smart players never throw bad money after good. Don’t chase your losses. Accept that you’ll lose and move on. Stick with the plan.
⦁ Pick A Sport And Ride It
In sports betting, a jack of all trades will master none. You can’t stay on top of every sport. There’s simply too many games, too much information to track, and not enough time to do it.
The best players pick one sport and seek to dominate it. That might be football. It could be baseball, basketball, hockey, soccer, or even darts or rugby. It really doesn’t matter.
What does matter is that you dive into that sport with both feet, remain aware of the news and watch for openings to cash winners.
⦁ Information Is King
Knowledge is a sports bettor’s best friend. No matter the sport you’ve chosen, every morning should begin by studying up on all the latest news, everything from the weather report to the injury list.
Is the wind blowing out at Wrigley? Is there snow in the forecast for Denver? What about the ailing starting pitcher? Is he going to be skipped a start and replaced by a minor-league call-up?
Any tidbit of information could prove the difference between a winning and losing wager.
⦁ Learn The Lingo
What’s the vig? Who’s the chalk? How much is a stake?
These are all betting terms and just like you learned the difference between a balk and a walk-in Little League, you’ll need to study up on sports betting vernacular.
An uninformed player doesn’t just sound like a fool. They make foolish bets.
⦁ How Do You Want To Bet?
Straight bets. Spread wagers. Totals. Futures. Parlays. Props.
There are many ways to make a play on a game, and you can play any of them. But don’t try to play all of them at once.
Again, a narrow focus is generally a winning strategy.
⦁ Don’t Drink And Bet
It seems like this one should be self-explanatory but we’ll say it anyway – don’t have a few bubbly pops with you pals and then decide to blow your bankroll on that Brigham Young-Utah game.
Think back to all of the good decisions you’ve made while drunk. Then think twice about imbibing in alcohol and betting.