Sports betting is a big business, but if you’re new to the concept, it can be pretty daunting. Here are some tips on how to bet on your favourite sports and some terms you should know before placing your wager.
Know Your Wagers
Do you know your stakes from your pay outs, or what odds mean? What’s the difference between a handicap and an accumulator? When you first head to the bookies, you’ll be inundated with a host of different terms and bet options, so it’s important to do your research beforehand and know what type of bet you want to place, from single bets to building a lucky 15. As a beginner, it’s a good idea to keep it simple to start with, but it doesn’t hurt to know the differences between the various types of wager so you’re aware of how they work. A single win bet is the most basic wager you can make and it’s a good one to start with to gain some practice.
Research the Sport
Whether you have a favourite sport or you’re a fan of them all, it can be a good idea to brush up on your understanding of the sport and teams you’re betting on before you begin. For example, if you’re betting on a horse race, it can be a good idea to know how your chosen thoroughbred has fared in recent races. As a fan, you’ll no doubt already know your stuff but having a bit of background knowledge can do wonders in helping to guide your bet and increase your chances of success.
Choose How Much to Bet
Only you can have the final say on how much you want to risk on any wager, but beginners can often get caught up in the excitement of betting and wager more than they can afford to. As a rule, it’s a good idea to only ever bet what you can afford to lose, since sports betting is a marathon rather than a sprint. No-one can guarantee the outcome of a match or sports event and there will always be good days and bad days, so it’s not worth risking too much. If you have a set budget before you place a bet, you’ll know that once that money has gone, that’s it. A good rule of thumb is to risk between 1 and 5% of your budget per play. This approach means you’re not going to lose your entire bankroll in one go.
Stay Up to Date
Once you’ve decided on the bet you want to make, you’ve chosen the stake you’re placing on the event and you’ve placed the bet, it’s time to await the outcome. Submit your bet and then stay up to date with the events of the game or race to see how they unfold. This is arguably the most exciting part of sports betting, when the thrill of whether you’ll win or lose is still at its peak. If you’ve done your research and luck is on your side, you’ll hopefully enjoy great success on your bet.