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7 Sports Betting Tips for New Players
As more states pass legislation to add legal sports betting following the Supreme Court decision to strike down the federal ban sports betting, the number of bettors and new players to the sports gambling game will continue to grow.
As such, here are 7 sports betting tips and ideas for new players. We’ll add more details to these tips and suggestions in future betting guides and articles.
1. Why do you want to bet on sports? – Is it for the action and interest on a sporting event? Is it a hobby and recreational activity? Do you want to make some extra money and dedicate more time to become proficient in betting and/or handicapping sports?
2. Determine a comfortable bankroll amount – Like goal setting, you need a pre-determined plan and a bankroll is your starting point to gauge the activity.
3. Learn the betting lines and odds – It’s a fundamental concept to learn and understand the basics of sports betting and the process. Determine the difference between a point spread, odds and money line. The odds are the inverse value of the probability of a certain occurrence, like a golfers odds to win a tournament or a NFL teams odds to win the Super Bowl. A point spread is used in football and basketball to set the line on a game. A money line is used in baseball and hockey, and can also be a type of wager in football and basketball, again reflecting the odds or probability of a team winning or losing. From there, you’ll learn more about the betting market, different types of wagers, why spreads, odds and lines move, and become more proficient.
4. Track your wagers and results – If you’re not disciplined and not willing to accept the inevitable losing wagers, then you’ll have little chance to succeed. Tracking your results allows you to learn, grow and gain confidence in your activity.
5 – Self-control. Sports games, contests and activities create excitement and emotion. You must be able to harness your emotions and maintain control especially when a decision, play or result goes against you and your bet.
6. Research and learn from professionals – Listening to a TV analyst or in many cases a former athlete on TV or radio is not the way to win consistently when betting. They are paid for their knowledge and insight on a game or event, to inform and entertain the viewers or listeners, and drive ratings up to make the network money. Doing some research on your own about teams, players and stats for example will help you become more knowledgeable. Reading, listening and learning from professional sports bettors and handicappers will assist you in becoming more educated and informed to make better decisions.
7. Money Management – The ability to manage your money and not bet more than you can afford to lose is essential. A consistent money management approach is part of a strategy to build your bankroll while reducing risk and not betting too much. Chasing your losses and losing more on a big bet outside of your limits and money management will send you out of bounds and bankrupt. This can lead to other bad habits in a sports betting activity that should be enjoyable and provide pleasure with the opportunity to win some money.
How to Bet Articles
Once you’ve got down the basics of sports betting, horse racing betting, and other opportunities, check out our How to Bet series to discover more ways to find angles and improve your odds.
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