Sports betting for beginners isn’t easy.
If you’re new to it and don’t know where to start, it’s easy to get overwhelmed. Where do you even start?
If you’re looking to get into the world of sports betting, there are a few things you should know. While nothing replaces experience, there are some things that can help you avoid making crucial mistakes.
Here are five tips on sports betting for beginners.
Don’t Go In Blind
Let’s ask a question: why are you getting into sports betting?
“To make money” is a perfectly acceptable answer, but maybe not the one you want to think of when getting into it.
Why did you choose sports betting in particular? Is it because you like sports? If so, that’s what you’re going to want to focus on in the beginning.
If you have a particular sport you really like, such as hockey or football, be sure to start off betting on that. Once you get comfortable with betting, you can branch out. But sports betting for beginners should be in something they know.
That way, you can use your knowledge of the sport to get a head start and make informed decisions on whether or not to bet on a certain team, given what you know of their performance.
Doing things this way is much easier to sustain.
Get Familiar With Odds Formats
Odds are fairly straightforward. If the team has a higher chance of winning, you’ll get less money if you bet on them. If they have a lower chance of winning, you’ll get more.
But you should also be familiar with the three odds formats that are usually found in sports betting.
Put in simple terms, they are:
Moneyline Odds: Also known as American Odds, these come in a positive or negative number. The positive number states how much you would win if you bet $100, while a negative number shows how much you’d need to bet to win $100.
Decimal Odds: Shows how much you’d receive back for ever pound/euro/dollar/etc you bet.
Fraction Odds: These are less common given the digital age but in the simplest terms, this will show you how many units you’ll make to every unit you bet.
Once you become familiar with the formats used in your area, it will be much easier to bet.
Less Is More
Sports betting for beginners can be a slippery slope. It’s easy to think that the more bets you put out there, the higher chance you have of winning.
But for many betters, that isn’t the case.
Many people who have found success only bet one game per day. This is because they carefully analyse the situation to figure out which game they have the highest chance of winning.
When you’re a beginner, the less=more rule is even more relevant, because you don’t have the experience betting just yet. You’ll have fewer advantages than people who have been doing this for awhile and have experience in it.
If you’re going to start out sports betting, start out small. Bet only on the games you think you have a higher chance of winning. As you get more experienced, you can bet more, but this is the best place for you to start.
Bet With Your Head, Not Your Heart
This is the advice that all beginning betters need to take seriously.
If you took our advice earlier and are betting on a sport that you’re already a fan of, that means that you have a favourite team. And, of course, part of having a favourite team is being optimistic and hoping they’ll win.
But make no mistake: when the time to put down bets comes, you need to put your optimism to the side and look at things objectively.
What are the odds of your favourite team winning? If you didn’t have a personal connection to them, would you be betting on them?
If the answer is no, you should think long and hard about betting on them.
Not betting on your favourite team is not a betrayal, any more than it’s a betrayal to refuse a job because it isn’t making you enough money. You need to take care of yourself.
Don’t Give Up!
This is the final piece of advice we can give all beginning sports betters.
When you get your first loss — and make no mistake, it will happen — it hits hard. You wonder what you did wrong, and if you’re even cut out to be doing this in the first place.
But losing bets is something that everyone experiences. It doesn’t matter if you’re a seasoned professional or a newbie, you’re going to have some losses here and there. It comes with the territory.
So even though it’s tempting to give up after the first loss, don’t. Analyse your strategy, decide if a mistake was made, and do better next time. You’ll continue to improve as you go on.
The losses sting, but they don’t spell the end. Stick with it and you’ll discover that your wins will greatly outnumber your losses if you’re doing it right.
A bit like anything in life, we were all beginners once right?
Want To Know More About Sports Betting For Beginners?
This is, of course, just a crash course in sports betting.
Now that you know the basics, you probably want to get deeper. The key to success is knowledge, so where do you go to get that knowledge? Who can provide you with the latest news?
Sports betting is constantly changing, so you need to stay informed at all times. What works one month might not work the next!
If you want to know more about sports betting for beginners — or just sports betting in general — then we’re the people for you.
We’re always looking into new trends, tips and tricks, and advice on all areas of sports betting. No matter what sport you’re passionate about, we have the advice for you.