Last Updated on November 10, 2022 by
With the advent of online sportsbooks and mobile betting apps, it’s easier to get started with sports betting. So, how does one start betting on sports?
1. Research Every Casino You Fancy
The first step is to find a reputable and fair establishment to bet in. There are industry giants like Bitstarz Online Casino. Usually, such big projects allow many entertainment types. But during research, focus on:
- Licenses;
- Awards (like AskGamblers);
- Reviews from gamblers;
- Reviews from professional estimators;
- How the support functions (we recommend testing it);
- Official documents and policies.
2. Determine Your Budget
Finding the best online casinos will not save you from losing. If you neglect responsibility, your money will say bye-bye and vanish. Thus, determine how much money is for sports betting. If that is $10, you cannot impulsively spend $11.
3. Learn the Basics
Research takes time, and you might want to place a bet as soon as possible. So here is a crash course in sports betting:
- Odds express how likely an event is to happen. A good way to think about it is this – if the odds are 1/1 (or 2.0 as they are shown in some cases), this means that for every $1 you bet, you will win $1;
- The vigorish (vig) is a commission the sportsbook charges. It’s also called juice or margin;
- The favorite is the team most people are betting on. That doesn’t necessarily mean that this team is better;
- The underdog is the team that is not expected to win. That doesn’t necessarily mean that this team is weaker;
- Moneyline bets are the simplest type of bet where you pick who will win. The odds will be expressed as a fraction (e.g., 1/4) or as a decimal number (e.g., 2.25);
- Point spread bets are a bit more complicated. In this case, the favorite will have points taken away from its final score, and the underdog will have points added to its final score;
- Proposition or side bets are usually about what’s going to happen in the game rather than who will win. These can be things like how many points will be scored in the first half or which team will score first;
- Parlays are when you bet on two or more events, and all of them have to happen for you to win. The payouts are higher, but it’s also harder to win.
4. Know Your Sport
You can’t just start betting on any old sport. Unless you’re very lucky, you’re going to lose your money. So do some research and determine which sport you want to bet on. It’s probably best to stick to the sport you know the most about, but that’s not a hard and fast rule.
5. Focus on One or Two Sports for Starters
You might be tempted to try and bet on as many sports as possible, but that’s a recipe for disaster. It’s much better to focus on one or two sports at first until you get the hang of things. That will help you to make more informed and better bets.
6. Start Small
Once you’ve decided on a sport, it’s time to place bets. But don’t go crazy! It’s best to start small initially and gradually increase your stake as you become more confident. This way, you won’t risk losing too much money if things don’t go your way.
In Conclusion
Betting on sports is 50% exciting and 50% thrilling, but it’s important to remember that it’s just a bit of harmless fun. Don’t stake more than you have planned, and never chase your losses. And good luck with all your bets!
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