With the 2016 UEFA European Championships well under way, there are several people placing a football bet online for the first time. If you are one of those beginners, you may need a bit of help to ensure you are not just throwing away your hard earned cash.
Here is a guide to give you all the information you will require before placing a bet.
Choose the right betting site
The first thing you must ensure is that you select the right betting site. It is a crowded market with several online bookmakers trying to win new customers by offering sign up rewards, improved odds or ongoing bonuses.
Before spending a penny, you should take a bit of time to compare these sites. Some will offer what looks like a brilliant welcome bonus but offer lower odds, whilst some may not allow you to place the bet you want. Also, read the small-print because some of these bonuses will require you to deposit more than you maybe would have in order to activate them.
Do a little research, take advantage of bonuses and improved odds bets and sign up to more than one if it is more valuable to do so.
Designate yourself a betting bank
Anybody can place a bet, as long as you are old enough and have enough money deposited into your account. But, not everyone will gain a profit and most people will place random bets whilst not keeping track of how much they are spending.
Having a betting bank will give you a set amount to gamble with, allowing you to stay responsible whilst gambling without taking away the entertainment value.
If you are unsure of what a betting bank is, you can find all you need to know at this link – https://www.bettinggods.com/what-is-a-betting-bank-and-why-do-i-need-one/
Understand different types of bets
The most obvious football bet is choosing who you think will win and betting on them, although that may not be the most profitable way to gamble.
There are several types of bets you can place on football, with different sites offering different options with different odds. Understanding the different types of bets will enable you to work out the best way to gamble.
For example – If ‘Team A’ haven’t conceded a goal in six games and ‘Team B’ haven’t scored in seven, it may be more valuable to bet on ‘Team A’ to win ‘To Nil’ rather than just betting on them to win.
You can place a bet on everything from ‘First Goalscorer’, through ‘Half Time Goal Line’ to ‘Number of Corners or Free Kicks’. Don’t just blindly bet on these types of bets, unless you are extremely lucky it can be a sure fire way to lose money. Research them and understand them, or just keep it simple and bet on what you know.
Study recent form, head-to-head, team news and importance of match
In-play betting can come in useful for matches between closely matched teams or just if you cannot decide the best bet to place before kick-off. Sometimes, it can pay to leave placing a bet until the game is already underway.
This gives you a chance to see who is playing better, who wants it more and any early injuries or red cards. This will give you even more information as to what is the best bet to place.
Another advantage of in-play is when an underdog gets an early goal. The favourite will still have a big chance of getting the win, but the odds on them doing so will be so much better if they are 1-0 down after ten minutes.
Cash out is a concept that not all online bookmakers offer, but it can help you gain a profit if done correctly.
For example – you may have placed a £10 six-team accumulator, with the pay-out being £110 if it wins. Five teams are ahead with a few minutes left but the other have had a man sent-off and are defending an onslaught by their opponents. The site is offering you £42 if you cash out, which will be a profit of £32, enabling you to walk away with more money than if you hold out until the end.
If you cash out on a bet, never kick yourself if done too early. Although every now and then the team you originally backed will go up the other end and score a winner, there are more instances when the opposition will get the goal and you end up with a loss.
Do not chase money
One of the most important points is to never chase money. If you lose on a bet, it can be tempting to place a larger one on something else to recoup your losses. This is a slippery slope that can lead to financial problems and something you should never do.
If you lose a bet, the best thing to do is close down the site and avert your attention. Accept the loss, don’t chase money that is already gone and fully prepare for your next bet. Stay within your betting fund and do not dip into extra money if you think it will be a way of clawing back what you lost in the previous bet.
The most important thing about online gambling is to have fun and stay responsible. Most online sites will offer a live scores section where you can stay up to date with what is happening in matches you’ve bet on. Some even allow live streaming of a match so you can watch the action after placing a bet.
It is a form of entertainment and should be seen as such. If you find that you are spending far too much money, it is affecting your life or causing problems it may indicate you are developing a gambling problem.