How to Bet on Sports for Beginners: 10 Tips to Know

By | July 4, 2022
Reading Time: 2 minutes

 

So, if you’re looking to up your betting game as a beginner, there are some things to know. Whilst we generally improve over time as we learn from our mistakes, there are some fundamentals that should know right off the bat:

Take advantage of the offers

You’re probably already aware of this one, because it’s often what lures in new bettors. But, taking advantage of the best bookie offers will give you a free advantage and it would be nonsensical to not use them. However, take your time to understand their T&Cs, because some have wagering requirements and others do not.

Finding the best bookmaker for you

If you’re betting regularly, you need to have a good bookie. This isn’t a clear-cut matter of which is best though, so experiment around with what fits your needs. Think about which markets do you want to bet on, what customer service options are available, if you like the website UI, and how the odds compare to the others.

Understanding odds

You need to know how odds work. You’ll get better with practice, but at the very least, research about fractional, decimal, and American odds.

Bankroll management

This is the most important tip. Bankroll management is about not just setting yourself deposit limits in the context of timeframes, but never betting X% more than what you have in your account balance.

Research

You need to research before you make bets. Some people like to go off gut feeling and current knowledge, but it doesn’t hurt to double-check a team’s form before making a bet, for example.

Diversifying your bets

Never place the same bet every week because “at some point it will come in”. Placing a variety of betting types in a variety of ways can help you spread your risk and gauge which performs best.

Know when to walk way

Emotions are your biggest threat when betting. Generally, people walk away when winning whilst they gingerly chase losses. But, this makes no sense. If you have a winning streak, why not try and keep it up (within reason, perhaps cutting down on the stake). And if you’re having a rough period, take a break, don’t angrily try to recoup losses.

Be mindful of the bets you win and lose

It’s worth checking your bet history now and then to see how you’re doing and what has been working. This is a good way to learn from mistakes but is rarely done by punters. You’ll likely discover that those crazy big accumulators haven’t been paying off.

Knowing when to cash out

Cashing out is a difficult topic, but one thing we know is the house edge exists in the odds they offer for cashing out – you’re losing out on value. It’s not a good idea to cash out every time, but now and then is okay if you have good reason to.

Taking breaks

Having a weekend off can not only help you re-evaluate your current strategy but it can also break bad habits. You need to know that you’re not relying on betting, and next week you can come back with a fresh mind.

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