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Sports betting for Beginners

Sports betting: 15 tips to make you a good bettor!

  1.  Know the sport you’re betting on: Before you even think of betting, it’s important for you to understand the sport you’re betting on. If you want to bet on a cricket match, you need to have a thorough knowledge of cricket. Likewise, if you want to bet on tennis, you need to know a lot about it before betting. Remember that millions of people place their bets on sports every day; therefore, if you place bets without knowing a sport, you’ll only be exposing yourself to huge losses. Start by knowing the basics of a sport, watch a few matches, follow some players, understand the playing conditions and past records. It’s only after doing homework that you should start betting.
  2. Understand the finer nuances of the sport you want to bet on: Every sport has finer nuances, which you must understand before betting. For example, in the T20 format of cricket, the team which does well in the first six overs of powerplay tends to win more than the team which doesn’t do well in the powerplay. Similarly, in the recently concluded T20 World Cup, teams batting second had a much higher chance of winning than teams batting first. Due to the dew factor, it became really tough to get a good grip on the ball and bowlers had a tough time. As a result, batting second became much easier. Other sports like soccer, tennis, etc., do have such nuances, which must be understood before placing a bet.
  3. Understand the difference between a team sport and an individual sport: Betting on a team sport and an individual sport is a totally different ballgame. In the case of an individual sport, like tennis, you only have to take a call on two players, and that’s about it. So, if Rafael Nadal is playing Novak Djokovic, you’ll look at their current forms, head-to-head record, and the nature of the surface they are playing on. But suppose you’re betting on an India vs England match, then you certainly have to assess the strengths and weaknesses of individual players, but you also have to see how they fit in a team. While it is true that R. Ashwin and Ravindra Jadeja are both world-class spinners, does it make sense to play two spinners? Before betting on a team sport, you must have a thorough understanding of teams’ dynamics.
  4. Learn to read betting odds: You’d have often heard people saying that a certain team has so many odds of winning or losing a match. When they say “odds,” they mean “betting odds.” Now, betting odds are expressed in many ways. For example, Decimal Odds, American Odds, Hong Kong Odds, Malaysian Odds, etc. Before you start betting, you’ve got to understand how to read these odds. Let’s explain how Decimal Odds work. Decimal Odds represent the amount of money you’ll win or lose by betting Re 1. So, if the probability of an outcome is 40%, then Decimal Odds would be expressed as 100% (total) / 40% (probability of this outcome) = 2.5. If you bet Re 1, you’ll get Rs 2.5 in the event you win. Likewise, you should learn to read other types of betting odds.
  5. Prefer starting with small bets: In the initial phase of betting, the focus should be more on learning the basics; therefore, you should take baby steps. Place small bets and see how you perform. Learn from other bettors, speak to your friends who know about betting and fine-tune your strategies. There’s a lot of stuff available on the internet as well to read to learn the basics of betting. Never start by placing big bets because that will make you more obsessed with winning or losing than learning the basics of the trade.
  6. Think of the worst possible outcome and then bet: There’s a saying in the stock market – Cover your losses and forget about profits. In simple words, it means if you have protected yourself against the worst outcome of an event, then you can be relaxed. Therefore, while placing a sports bet, always make yourself aware of what could be the worst outcome. If you’re able to deal with that, you’ll make a good bettor. Often people place bets by considering only the best possible outcome. As a result, when they don’t get that outcome and make losses, they are unable to deal with the situation.
  7. Don’t have unrealistic expectations: There’s almost nothing, which makes people have more unrealistic expectations of themselves than betting. People often think that they can become the best bettor overnight. We can assure you that the chances of something like this happening are next to nothing. Remember, the market is made up of millions of punters worldwide, who have been betting for years. For a new bettor to think that he/she can beat all of them is nothing but wishful thinking. Therefore, it’s important to have realistic expectations to begin betting on sports.
  8. Select a fair and genuine bookmaker: There are just too many online bookmakers that it may become difficult for a rookie punter to decide which one to go for. The first thing to check is the betting odds. Betting odds tell you how much you will win or lose on your bet, depending upon the outcome of an event. Besides, the commission of a bookmaker is also built in the betting odds. Therefore, you should analyse betting odds across bookmakers to make a decision. You should also check whether a bookmaker is legal and has a good reputation or not. Last but not least, do check about the payment methods. Make sure that it’s not a hassle to deposit or withdraw cash at a bookmaker’s site.
  9. Be as objective as possible while placing your bets: We’ve often seen that bettors get carried away by their favourite team or a favourite player. We can assure you that nothing can be more dangerous than that. Let’s take the case of recent India-New Zealand matches. New Zealand has beaten India in the just concluded T20 World Cup 2021, in the final of World Test Championships in 2021, and also in the semi-final of the ODI World Cup in 2019. However, it’s likely that an Indian bettor may place a bet on India beating New Zealand the next time they meet. Therefore, you should not let your personal likes or dislikes come in the way of placing your bets. Objectively analyse a situation and then place your bet. That said, we aren’t saying that India can’t beat New Zealand ever. All we’re saying is, be as objective as possible.
  10. Always Check for Bonuses and Promotions: Most online sportsbooks have bonuses and promotions for all kinds of players, particularly new punters. Therefore, it makes a lot of sense to go through a bookmaker’s website thoroughly before starting to bet. Typically, you’ll see ‘welcome bonus’ or ‘first-time’ bonus being offered under which whatever deposit you make, a sportsbook gives a certain bonus on it. There are also lucky draws and prizes like expensive cars for betting on popular events like the Indian Premier League (IPL). It’s also important to read all the terms and conditions pertaining to promotional offers.
  11. Don’t put all your eggs in one basket: This is an age-old rule in betting. In simple words, it means you should diversify your bets. Suppose you have only Rs 1,000 to bet, which is not a lot, you shouldn’t bet the entire sum on one bet. Because if you lose that bet, you’d lose all of Rs 1,000. Therefore, it makes sense to split the sum into two or three parts and place multiple bets so that even if you win one bet, you end up making more than you lost on the other bets.
  12. Learn how the home team factor works: In most sports, the home team is at an advantage compared to the visiting team. Whether football, cricket, or any other sport, it’s always tough for the visiting team to beat the home team. As a bettor, you should be aware of how this factor works. For example, even though India fared poorly in the T20 World Cup and lost to New Zealand, a lot of bettors may still bet on India in the upcoming India vs New Zealand series because India is hosting the series.
  13. Keep aside a budget for betting: You should always keep aside a fixed budget for betting. It will help you not give in to the temptation of betting more when you’re winning. Remember, betting can’t be the most important activity or expenditure of your life. You may enjoy doing it, but by no means can you spend a large portion of your financial resources on betting. Therefore, it’s very important to keep a fixed budget for it and stick to it.
  14. Its better to bet on a few sports than all: There’s a tendency among new bettors to start betting on all kinds of sports. At times, they don’t even understand the sport they are betting on. If you’re a new player, we’d always advise you to bet even on one sport. You’ve to analyse so many aspects of one sport that betting on more than two sports can be really taxing your time and energy. Therefore, when you are start betting, focus on only a few sports.
  15. It’s better to bet on a few sports than all – There’s a tendency among new bettors to start betting on all kinds of sports. At times, they don’t even understand the sport they are betting on. If you’re a new punter, we’d always advise you to bet on a few sports, which you understand well. Like we explained, it requires a lot of homework to bet even on one sport. You’ve to analyse so many aspects of one sport that betting on more than two sports can be really taxing on your time and energy. Therefore, when you start betting, focus on only a few sports.
  16. Be disciplined while betting: Discipline is a virtue that we all must have; however, it’s particularly important for betting. Be very clear and systematic while betting. Don’t get carried away with what others are doing. We’d advise you to have a plan and stick to it. Often in sports, it appears that the game is moving in a new direction with every passing second. It’s very important to keep your emotions in check. Betting is as much a test of your character as it’s of your skill. Therefore, it’s essential to remain disciplined while betting.

 

By Betfairsites

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