As a beginner on a losing streak to sports betting, it is not unlikely to conclude that betting is not for you. You may feel like winning is not as possible as seen online. But if people are not genuinely winning, why do you think the betting industry continues to thrive?
Statista says the betting market will be worth $294.20m by the end of 2024. It is evident that the sports market is thriving, but it’s only for the smart ones who understand the trick of exploring the market.
As Kate Richardson, a betting expert, says: “There are rules and strategies to win, and only those who understand these tricks thrive in betting.”
Whether you are just getting started in sports betting or aim to refine your approach, this article is for you.
In this guide, you’ll learn the following;
- significant tips to stick to as a new customer
- Difference between favorite and underdog
- meaning of money line and how to utilize it in betting
- the meaning of spread points
- Parlay and its negative effect
- the reason to start small as a beginner
Betting for Beginners: 7 Highest Tips to Get Started Right
Do Your Research
According to David Camilleri, a sports writer, says: “Indeed, results have shown that betting on sports on a professional level is helped by good knowledge and a knack for predicting the outcomes”
One of the best sports betting tips is doing research. As a beginner, you have much to learn before making a huge win. It can be tempting to go all in and stake high, but it is wise to slow down and learn from possible mistakes. Even the big punters in the industry are continuously gathering information to stay informed and continue winning.
Take your time to learn the ropes by doing your research. Read about teams’ current state and assess recent stats as much as possible. Use social media communities, especially Twitter, to gain valuable insights. Reviewing players’ stats, injury reports, and matchups will give you a deeper understanding. Also, watch football and other soccer highlights on YouTube videos to gain proper insight on what you are betting on
Be Weary of Scam
There is a lineup of scammers on the internet trying to prey on newbies. They guarantee wins and ask you to pay huge sums for their online community. Only join those with organic reviews and user comments.
Also, to be safe, ensure that you choose a trustworthy sports betting site. The one with secure payment methods, fair odds, and excellent payment methods. Above all, betting sites should only be duly licensed and stick to the authority regulations.
Use Bonuses and Rewards to Experiment.
As part of their marketing strategy, many betting websites offer promotions to players. This is usually in the form of special sign-up bonuses, free bets, or deposit bonuses. As a beginner, it is necessary to make use of these offers. The offer gives you extra power because you will experiment with different wagers without losing much money.
Do not Play Favorites.
Betting is beyond emotions and sentiment. While it is superb for a fan to support your favorite team to win, bringing the sentiment to your ticket is risky. Make sure you bet with what you have constructively calculated to make sense and not the favorite your heart chooses.
Approach bets with a logical and analytical mindset. If there is insufficient data and evidence to prove that your favorite team would win a ticket, do not follow your personal bias. Instead, strike the favorite team out of your ticket.
Advice for Beginner Sports Bettors
It is expected that some unfamiliar terms will be encountered while engaging with bets for the first term. This can be daunting to decode. They are necessary for you to know them before taking any action on a betting site. Below are the main tips to decode those terms and compete against sportsbooks.
- The favorite has the (-), the underdog has the (+)
You must have been familiar with “favorite” and “underdog.” In betting, the team’s favorite to win is represented by a minus sign (-), and the underdog is the team expected to lose and is represented by the (+) sign.
Sometimes, if the sportsbooks consider the team equal, they can be labeled “pick.” The sign helps to identify the side expected to win easily and helps determine the potential payout for each bet.
- Moneyline = Game Winner Only
The term moneyline is used to describe picking one side to win the game. It is choosing a straightforward win that requires no spread or handicap. If you pick the team that wins, you win the bet. If you bet on the favorite team from the sportsbook to win, you risk more than you can win. If you pick the underdog to win, you have the potential to win more.
For example, if you place a bet of -200 favorites, you will wager $200 to win $100. It could be any fraction of that sum. For the underdog, if you bet +200 underdog, it means you will get double the value of your wager. If you wager $100, you will get $200. In summary, the favorite will divide your potential winning into half of the wager, while the underdog will double the amount of your wager. Irrespective of sports betting, you can check out this online bet calculator to figure out your single bet quickly.
- Point Spread = Winning Margin
Competing teams do not have equal chances of winning. The point spread is a way to level the playing field for teams with uneven ability. The favorite team has to win by a certain number of points. On the other hand, the underdog must win the game outright or lose by fewer points below the spread.
As a bettor, you bet on a winning margin when you bet on speed points and not on an outright loss or win. If you bet for a favorite point of (-7.5) points, your team has to win by 8 points for you to win the bet. If the team you pick is (+6.5) and loses up to 6 points, your bet is still as good.
Total or Over/Under = Total Points in a Game
Sportsbooks usually set the total number of points possible in a game. This is called Total. You can wager whether the outcome will be above or below the point.
For instance, let’s assume a game point is set to 40. The game’s outcome must be 39 or below if you bet under. If you bet over, it means 41+ points are required. If the outcome is the same as set by the sportsbook, that is a push, and the bet will be refunded.
- Parlays = All Bets Must Win
Parlay combines two or more bets in a single betting slip. Here, the payout is greater because the odds will be multiplied. But you must win all bets on your slip for the ticket to succeed.
If, for instance, you combine ten different bets in a single slip, but nine was successful, it is still a loss under parlay. As a beginner, it is best advised to avoid using parlay
The Most Important – Start with Small Bets
As a beginner, the most efficient sports betting strategy is to manage your bankroll as much as possible. The best way of doing this is to stick to small bets, win small, and progress from there. Starting with big odds without requisite betting experience can wreck your bankroll.
Starting small will allow you to test different strategies, and you will be able to stick to ones that work for you.
