The world of sports betting can be incredibly confusing to anyone who has never tried it before; with boatloads of promos and different ways of betting, it can be quite overwhelming. Since betting is done with real money, those taking part want to ensure they know exactly what different bets are and how they work!
The team behind many different sports betting promos at ProfitDuel have made this piece with the aim of making sports betting less daunting to those who haven’t delved into the world. With tips on how to bet and what to bet on, this is your complete guide to get you started in the world of sports betting.
Start With Small Stakes
As sports betting can be daunting at first, it is essential for users to start by using smaller stakes, as this can help users understand how different returns work from different types of bets, such as each-way bets or accumulator bets.
However, more importantly, using smaller stakes also ensures that users are being responsible with their funds and are not risking more than they can afford. Whilst users are learning the ropes, it is highly recommended to use lower stakes until you become more confident. Bettors can still use lower stakes when they are more confident, as this lowers the total risk throughout sports betting.
Do Your Research
One mistake that many bettors will make when they begin betting is to only bet on sports that they are familiar with or teams they are familiar with. While this makes sense as it means you are betting on the team you will have the most knowledge on; it is important for users to do their research on many different aspects.
Research can come in a wide variety of different ways, whether it be researching players, teams, current forms, injuries or strengths and weaknesses of certain teams and players. All these different pieces of knowledge can only be helpful for those who are planning on placing sports bets.
Another way research can be done is by researching different betting sites, as some sites might have different promotions or odds on sports and events. By researching different sites, users can ensure that they are finding the best odds and, therefore, finding the best value.
Manage Your Bankroll
When sports betting, it can become easy for users to become caught up in their losses and attempt to make them back by placing more bets. This is not a sustainable strategy and can lead to more money being lost.
Instead, it is recommended for bettors to set a limit throughout a specific time period that suits them. By doing this, bettors are made to stay within their limits and spend what they can afford, therefore not losing out on as much money as they would potentially when chasing their losses.
With the limit in place, bettors are also required to ensure they have a strategy for what they want to bet on, as they are not able to continuously place bets. This challenges bettors to be smart with their bets when it comes to what selections they want to place.
Differences In Sports
Another crucial aspect to understand is how the bookmakers work, as different sports are more popular throughout the betting world than others. For example, sports like football, horse racing and soccer are some of the most popular betting markets. Therefore, these selections are likely to feature different promos that users can make the most of.
However, if you are an expert in a niche betting sport such as tennis or Formula 1, then you might be able to find some selections that are valuable as the bookmakers might not be fully up to date with different knowledge surrounding the sport. It is important to still check the odds of these sports and see whether you believe they are valuable or not.
Search For Value
When searching for bets, it might seem like a wise choice to bet on favourites or the next best choice in terms of odds. However, this means that the return will not be very big if the selection does come through, meaning the risk of the stake might not be worth it.
Instead, users should use any research they can conduct throughout the selections and look through the odds. If they are able to find a selection which they think has a fairly likely chance of coming through, but the odds suggest it’s not very likely, then it would be a good value bet to place.
Whilst this does not mean the stakes will make a return every time, it is still good to try and find value throughout selections, as this gives users a better chance of making valuable returns for lower stakes.
Responsible Betting
When delving into the world of sports betting, users need to ensure that they are making an effort to bet responsibly. By setting limits and betting affordable stakes, bettors can make sure they remain in control of their betting, creating a sustainable and enjoyable way to place stakes on their favourite sports!