Do you know some sports fans who want to become bettors but don’t know where to start? Here are some tips that you can pass on to get them going:
Don’t Go for the Homeruns and Longshots Right Away
New bettors can get very excited when they see some of the odds available. They want to win it all. That’s the excitement of betting. But you can just as easily crash and burn if you don’t watch your budget. Long-time bettors know that you have to pace yourselves otherwise the rollercoaster highs and lows can be too stressful. Remember. This is all about having fun while watching your favorite sports.
Work Out a Budget
Sure, you can just place a bet whenever the mood hits you, but if you’re a regular sports fan, chances are you’ll become a regular betting fan. Work out a suitable weekly budget, so you’re not breaking the bank because you’re betting on every game that comes up. A budget disciplines you so that you’re only risking a certain amount each week. It’s not a hard-fast rule. It’s just a guideline to work from. You can change it at any time, but as a beginner, you should really stick to it.
You can even bet on paper at first if that makes you comfortable. You don’t have to use real money until you feel like you know what you’re doing. That’s when the real excitement starts.
Don’t Bet just to Bet
If you don’t see any games that you feel good about betting on – don’t. Just leave it till the next set of games and watch and learn. Going along with this is the idea that if you’re not sure about the bet, don’t make it. There will always be another game to bet on tomorrow or next week. If you’re not feeling good about the bet or your gut is telling you that there’s something wrong, just give it a pass.
Start With Simple Bets First
Betting can get pretty complicated. But there are lots of simple bets you can do to ease into sports betting. Here are a few examples:
This is probably the simplest bet you can make. You are betting on the outright winner of a game. But, unless the teams are matched, you’ll get different odds for each team. For example, if you’re betting on the Toronto Raptors versus the Chicago Bulls with a moneyline bet, the Bulls might be the favorites and get -$185 odds. That means that if you bet $185 and the Bulls win, you get your $185 back, plus $100. It’s not a great bet, but they are the favorite to win.
If the Raptors have +$165 odds to win that game, it means that if you bet $100 and the Raptors win, you get your $100 back, plus $165. That’s a much better return but the Raptors are the underdogs and will have a tougher time to win.
The Point Spread means that the favored team has to win by a certain number of points at least, or the underdog has to lose by that many points.
If the Miami Heat are playing the Philadelphia 76ers and the Heat is favored by 6, it would show as Miami (-6) and Philadelphia (+6). Miami has to win by more than 6 points for Miami bettors to win their bets. If Miami wins by less than 6 points, 76ers bettors win. If Philadelphia can win the game by any score, 76ers bettors win their bets.
If Miami wins by 6, then it’s called a push. Everyone gets their money back.
Do Some Research on the Teams and Players
Once you learn about the odds and the types of bets you can make, you should research the teams you want to bet on. When you’re first starting out, it’s probably best to focus on one sport, like basketball. If you have a favorite team that you already watch, you’ve already started. Sure, up until now, you’ve probably been watching them as a fan and not a bettor, but there are lots of things you know about them already.
Start reading about upcoming games and get a feel for what analysts are looking for when predicting the outcome of a game. Get in conversations with other fans about the team and any upcoming games. Then start researching the other teams as well. After a while, you’ll start to get a good feel for the games.
Be Wary of Your Blind Spots
If you have a favorite team that you follow or several teams, bettors tend to confuse hope with a gut feeling and often bet for those teams to win when they shouldn’t. What I often tell new bettors is to bet against their favorite teams as often as possible. If you lose your bet, at least your team won. And if your team loses, at least you made some money off of the deal. You always win.
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