Sports betting has experienced a massive boom in popularity after it was deemed legal in 2018 with the Supreme Court overturning the Professional and Amateur Sports Protection Act. With more than 32 states allowing legal sports betting, it’s no wonder that many Americans are becoming more interested in sports betting.
More than 100 million Americans can legally gamble on sports, but it’s difficult beating the odds as well as the house. Sports betting is picking the result of a sports event and the amount you win is determined by the sportsbook. Doing this successfully may feel like an act of magic, but doing the right research and playing smart can put you on the road to success. We’ll be exploring ways you can make the best bets below with seven tips for sports betting beginners.
Learn the Basics
Like anything that’s new, it’s important to learn the basics and take things slow so that you’re primed for success. Look into the sports betting terminology such as parlays, sportsbooks, moneyline, wagers, and familiarize yourself with the vocab until it becomes natural. Research is another vital component of sports betting so make sure you research the specific sport, online platforms and/or physical sports betting locations to see what’s right for you. Equip yourself with the basics and you’ll be able to build something substantial and something that could pay off in the long-run.
Bankroll Management
Newcomers find sports betting to be thrilling in a lot of ways, but it’s important to remember that you’re taking a risk everytime you bet. Be smart with your money and establish limits for yourself such as a monthly budget and/or a limited timeframe. Only bet money on a certain number of games and never dip into your life savings or assets especially when you’re just starting out. Many seasoned veterans recommend betting round numbers and making sure it’s an amount you’re comfortable with potentially losing.
Set Realistic Expectations
The prospect of hitting it big seems appetizing, but it’s important to set realistic expectations. Remember that you’re a beginner and like anything new, it’s going to take time, patience, and practice to improve in the sports betting arena. Normally, bettors with experience and a skillset sharpened by time hit it big, so set realistic goals in the beginning so you don’t become disappointed by setbacks. Achieving small yet realistic goals will improve your confidence and you’ll be able to tackle riskier bets at later stages.
Betting with A Clear Head
Gambling on sports is an exciting and emotional endeavor, but it’s vital that you find a way to keep a clear headspace. A lot of people like to drink alcohol while betting and this could lead to some bad decisions that could have a negative impact on your pocketbooks. Never place bets while you’re under the influence of drugs or alcohol because this impairs your decision-making abilities. Also, try to make sure you keep your anger, excitement, and sadness in check because these emotions can cloud your head as well. Bet with your head and not your heart.
Do your Research
Sportsbooks and casinos put a lot of time and money into researching teams, odds, underdogs, and more because it brings in a lot of money. You too should do your due diligence and research every aspect of the game before placing a bet. Aspects such as the history of a team, statistical percentages, current trends, matchups, injuries, etc. can set you up for success and put you on route to making the best bets possible.
Strategic Approach
The most successful bettors come into the game with strategies and a variety of betting styles to increase their chances of winning. Some people say the best bets are achieved by a common technique known as line shopping where you search through online sportsbooks for the best odds so you can place the most favorable wager. Other bettors utilize online statistical models that will give you algorithmic odds and percentages for specific bets. Another reliable strategy is looking at trends such as a history of day game winning, a home team advantage or playoff trends.
Building Discipline
When it comes to sports betting, emotions run high so it’s important to build discipline and establish healthy habits early-on so you can make the best bets possible. It’s important to keep track of time so you don’t make bet after bet with no end in sight. Make sure you keep your greed in check if you start winning and make smart bets in the beginning instead of working outside of your comfort zone. Exercising self-control will get you far in the world of sports betting.
Conclusion
Sports betting is an exciting world with the prospect of big risks and rewards. According to Forbes, Americans have wagered over $127 billion since June 2018. Learning the basics, setting realistic expectations, doing proper research, and maintaining discipline are just a few ways you can find success. Navigating this fast-moving territory can be overwhelming and thrilling, but if you follow the seven tips outlined above, you just might come out on top.