Tips For Successful Sports Betting
Why is wagering on athletics so popular? It’s easy to understand! It is simple, it is fun, and it offers us all an easy way make a little extra money.
But beginners shouldn’t rush into placing bets as soon as they open an account with an online bookmaker. As simple an activity as this is, there are a few things you will need to know when you first start punting. Unlike enjoying Bingo for money, for example, you’re not just relying on luck. Skill and knowledge are your two most powerful weapons, and we’re here to give you some advice to get you started winning more often than you lose.
Get to Grips With the Basics Before You Begin
Coming in on your first wager will be that much more enjoyable, and have that much more of a chance of your making a good return, if you have learned all the basics first. They won’t be able to help you on their on to make a profit going forward, but they will certainly get you started off on the right foot.
You’ll need to have at least a nodding acquaintance with the following before you punt, and all of the information outlined here is freely available at dozens of online sites:
- What fixed odds are
- What the components of a sports bet are
- The different kinds of wagers available to you
- Alternative forms of betting on sports
- How to place wagers at online bookmaker sites
Set Up a Budget
This may well be the most important piece of advice on this page! No matter how much money you have at your disposal, or what your short- or long-term goals regarding punting are, you have to set up a budget.
Don’t forget, losing is far more likely than winning, and you need to only be risking what you can afford. You can set up a daily, weekly, monthly, or even an annual budget, and decide on whether it will get adjusted according to money won and lost. There are even punters who simply set aside a certain amount of money for their wagering, in a separate account sometimes, and do not have a timeframe attached to it. How you set your budget up is totally up to you, just make sure it’s affordable and then stick to it.
Use a Staking Plan
It is highly recommended that you use a staking plan alongside your budget, too. This is really just a set of rules that will dictate how much money will be put down on each of your bets, relative to the size and rules of your budget. Betting 2% of your overall bankroll is a great rule to wager by, and by no means should you ever exceed 5%. Find out what works for you, and watch how you become more able to withstand and recover from your losses with your budget intact.
The other benefits a staking plan has include:
- You will be less likely to chase losses
- You won’t run as big a risk of losing the money you’ve made from a good run
- You will find yourself creating a habit of making rational betting decisions